Best Of
Re: Flowing Hair 230 Privy Gold Poll
@PeakRarities said:
@NJCoin said:
@pmh1nic said:
Can some explain to me how the profit in this auction is distributed? Did Stacks buy these coins directly from the Mint at a set price or did the Mint hire Stacks to auction them taking the profit and giving Stacks a fee for conducting the auction?I’m guessing Elon and Vivek are loving this process if the Mint gets to keep most of the profit.
The latter. SB conducted the auction on behalf of the Mint. Hence, no buyer's premium and no state sales tax. Why on earth would the Mint ever even think about agreeing to anything else?
Are you certain of that? How would we know that they didn’t just arrange something on the back end for optical purposes?
Because they announced it at the beginning of the auction. Because SB does not waive the buyer's fee on lots it auctions from its own inventory.
And finally, because they did not charge any state sales tax. That is due to a federal pre-emption that applies to transactions with the US government, which is why the Mint never charges sales tax for anything. SB could not do that with items it sells from its own inventory.
Bottom line -- it would make absolutely no sense for the Mint to go to the trouble of going this route, and then wholesaling the items to an auction house rather than paying a commission, as any other consignor would, and keeping all the upside for itself.
What would be in it for the Mint to "arrange something on the back end for optical purposes"? This was a big deal. And certainly generated a nice payday for SB. Not crazy to think SB received 5-10% of the gross.
Absolutely no reason to think the Mint would have had to share more with them, or with anyone else for that matter. If the Mint wanted to create value and then just give it away, they could have done so through any of their pre-existing sales programs, without going to the trouble of an auction.
If SB had no interest on the Mint's terms, I'm sure there are at least two other auction houses that would have loved to have had a shot at it. Having the US government be a party to a fraud to deny states sales tax revenue is, quite frankly, unthinkable, regardless of any issues I might have with the Mint's recent lack of transparency with us.
It also would make absolutely no sense for any other potential "optical purposes." If they wholesaled the items out to SB, that should make no difference to buyers with respect to what they are willing to pay at auction, so there would be no reason not to just announce it. But, as I said, economically it would make no sense to give the upside to a third party, since the Mint had no downside risk, given that its production costs are the same as for the coins they sold for $3640 each last month.
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Lot Description
December 2024 Historic Privy Mark 230th Anniversary Flowing Hair High Relief Gold Coins on behalf of The United States Mint begins on Thursday, December 12 at 9:00 AM PST (12:00 PM ET).
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Re: Saw this 1876-CC G$10 on reddit
@PeakRarities said:
First I’d establish my grade, so for this one based on that awful photo, we’ll go xf details. Wholesale bid for
40 is 14k and generally id try to offer around ~50% of that I’d try to get in there for 7 or 8k and make a quick 10-15%.Often times, I advise clients that if i must make an offer I’m going to have to hedge my bets on details coins and I may not have the best price. I often recommend a consignment where they send me the coins and I’ll start soliciting offers. If they like the sound of one of the offers we get it done and then don’t have to stick my neck out on someone else problem, especially if it ends up being worse than I thought.
As far as grade goes, I think XF details is correct. There's several reasons to detail that one, but it does appear to be genuine.
Re: [BIG] Citizens Coinage Advisory Committee Meeting Recap (October 2024)
I’ll play contrarian: say you are celebrating your 50th birthday today. Must you be confined to focus on the events of Dec 16th 1974 only? You are not allowed to celebrate turning 16, graduating college, getting married or the birth of your children? It seems to maniacally focus on the year 1776 is a bit like that.
Re: Help me with slab labels please
I buy the grade and not the label.
IMO, these are truly marketing gimmicks(hype) to sell a coin for a higher price.
To my knowledge there are no added points when adding a coin into a registry set.
A MS / PR 70-coin, plain label earns the same value as an advanced release, first strike, fdoi, etc. coin in the same grade.
Would you buy a coin because the label states that it is a plan general strike?
I would say no.
I have recently been told by sellers, "but this is a fdoi or an advanced release coin" and they wonder why I won't pay the extra $$$ for the coin.
I will buy the coin in the no nonsense label and save some money towards a future purchase.
Wayne
Re: Help me with slab labels please
The market is what the market is. There is SOMETIMES a premium for certain labels. There is no global answer to the market question.
To the individual, there is wide variance and you can do what you want. There are people that only end First Strike. For them, there is no price other than bullion for a coin that isn't First Strike.
And, it should be added, there are people who hate slabs and want the coins in OGP.
Re: Help me with slab labels please
The simple answer is it depends on the collector. I don't collect modern coins like these but to some registry modern coin collectors the first this or first that label is very important. I don't get it, and I personally don't care but for those that want that label they will sometimes pay a premium to have it for their registry set. To each their own.
Re: 230th Anniversary Flowing Hair High Relief Gold Coin (24YG)
‘’And those who can specify a 70 minimum pay little or nothing for coins that don't make the grade’’
This is false.
Wondercoin.
Re: 2024 NFL Offseason/Regular Season Thread
Watching Packers-Seahawks. When are they going to STOP WITH THE HIDEOUS UNIFORMS?
Re: Your most valuable cards
@Stone193 said:
Another one of my favorite items. I got it from Hunt Auctions - the bronze caught my eye and I had to have it.I got this posthumous Clemente award years ago - World Sports Humanitarian Hall of Fame.
The statue is 19" tall - solid brass casting.
Is that his actual award Mike? If so, that is amazing.
Re: Registry sets with CAC still aren’t accepting new coins
@LeeBone said:
Figured I'd send an email just to see if there had been any change in the status, here is what I received back...Thank you for reaching out about this! Unfortunately, for now there is a software issue with our CAC sets that prevent many CAC certified coins from being allowed into our CAC specific sets. The higher ups are aware of the issue and are working on a solution, please stay tuned for an update as soon as we can.
Thanks for using the Set Registry, and have a great week!
Emilio Gutierrez
Set Registry Coordinator
Set RegistrySo yeah, nothing is getting done IMO.
You might want to take a look at the MyCollect site if you have not already.
At my last count, they have now created over 42 different CAC sets with more to come.
I have found that they respond to new set requests and message inquiries quickly.
I see a lot of familiar names from here now posting their sets there.
Wayne