@NJCoin
The Coin Vault is a family owned operation for 30 plus years, The 2 brothers (grandsons) are the hosts, so no host cost, I would have to believe that the production costs (camera, lights, stage, etc.) are mostly upfront? They also have a website, so volume is there also. I would imagine they get deals from the mint and 3rd party graders...
I watch at times to see what they are peddling...
NJCoin said: The margins, at either $400 or $480, are actually a lot less than for a large dealer selling on the web or through eBay for $350, when you take into account buying airtime, paying hosts, and production costs, in addition to all the other inventory and shipping costs any other dealer has.
@JBK said:
Now I'm starting to think you're all giving the mint too much credit. They'll create a very flippable coin again someday, even if it's by accident.
All the Mint would need to do to get interest back and to create the occasional flip-worthy coin is to not publish the mintage number. Then a couple times a year, put the sold out sign up when they reach their planned mintage limit - unexpectedly catching a portion of the market without.
@Joe_360 said: @NJCoin
The Coin Vault is a family owned operation for 30 plus years, The 2 brothers (grandsons) are the hosts, so no host cost, I would have to believe that the production costs (camera, lights, stage, etc.) are mostly upfront? They also have a website, so volume is there also. I would imagine they get deals from the mint and 3rd party graders...
I watch at times to see what they are peddling...
NJCoin said: The margins, at either $400 or $480, are actually a lot less than for a large dealer selling on the web or through eBay for $350, when you take into account buying airtime, paying hosts, and production costs, in addition to all the other inventory and shipping costs any other dealer has.
So, the brothers' time is worth nothing and they are expected to work for free? They can't be doing anything else when they are on TV peddling coins? Selling coins on TV is expensive. Period. That's why they are expensive.
They are reaching people they wouldn't otherwise reach, and they are selling to them at increased prices. Kind of the same way a bottle of milk costs more at a 24-hour 7-11 than at Costco.
And yes, of course, the TV guys are among the biggest of dealers, so they get all the best pricing. But, no better than other large dealers. The Pinehursts of the world can sell for less because they are not on TV. Not because the TV guys are screwing anyone. Or because Pinehurst is giving anything away.
@JBK said:
Now I'm starting to think you're all giving the mint too much credit. They'll create a very flippable coin again someday, even if it's by accident.
All the Mint would need to do to get interest back and to create the occasional flip-worthy coin is to not publish the mintage number. Then a couple times a year, put the sold out sign up when they reach their planned mintage limit - unexpectedly catching a portion of the market without.
What do you mean "get interest back"? They are going to sell a half million .85 ounce silver coins for $92.50 each. They have plenty of interest. Their interest is in not selling 100K of them, and watching us flip them for $300 each.
@JBK said:
Now I'm starting to think you're all giving the mint too much credit. They'll create a very flippable coin again someday, even if it's by accident.
All the Mint would need to do to get interest back and to create the occasional flip-worthy coin is to not publish the mintage number. Then a couple times a year, put the sold out sign up when they reach their planned mintage limit - unexpectedly catching a portion of the market without.
What do you mean "get interest back"? They are going to sell a half million .85 ounce silver coins for $92.50 each. They have plenty of interest. Their interest is in not selling 100K of them, and watching us flip them for $300 each.
Yeah. I agree. The Mint has no interest, nor should it, in creating flips.
They do need to occasionally create a "winner" to maintain interest but that is not identical to a "flip".
@JBK said:
Now I'm starting to think you're all giving the mint too much credit. They'll create a very flippable coin again someday, even if it's by accident.
BINGO!
Me thinks...some around here, are cashing in on credit, that they don't have, in the understanding of a government operation and explaining it to the rest of us like they have the expertise to speak on such matters with their insight and knowledge!
@JBK said:
Now I'm starting to think you're all giving the mint too much credit. They'll create a very flippable coin again someday, even if it's by accident.
All the Mint would need to do to get interest back and to create the occasional flip-worthy coin is to not publish the mintage number. Then a couple times a year, put the sold out sign up when they reach their planned mintage limit - unexpectedly catching a portion of the market without.
What do you mean "get interest back"? They are going to sell a half million .85 ounce silver coins for $92.50 each. They have plenty of interest. Their interest is in not selling 100K of them, and watching us flip them for $300 each.
Yeah. I agree. The Mint has no interest, nor should it, in creating flips.
They do need to occasionally create a "winner" to maintain interest but that is not identical to a "flip".
Agreed. But, these ARE winners. 250-400K of each. 6 coins this year alone. They are being gobbled up, and are maintaining their value. If that's not interest, what is, even though they are not a "winners" as some define it?
I’m also in full agreement. If you want a quick score the new coin issue ship has sailed. Whether it’s US or Royal Mint or Libertads, etc the quick flip is close to dead.
Great for collectors since you don’t have to get jammed by someone who bought a bunch and closed you out.
@Joe_360 said: @NJCoin
The Coin Vault is a family owned operation for 30 plus years, The 2 brothers (grandsons) are the hosts, so no host cost, I would have to believe that the production costs (camera, lights, stage, etc.) are mostly upfront? They also have a website, so volume is there also. I would imagine they get deals from the mint and 3rd party graders...
I watch at times to see what they are peddling...
NJCoin said: The margins, at either $400 or $480, are actually a lot less than for a large dealer selling on the web or through eBay for $350, when you take into account buying airtime, paying hosts, and production costs, in addition to all the other inventory and shipping costs any other dealer has.
The trick with The Coin Vault is to watch the show to see what they are selling. If you see something you like buy it from SilverTowne or Paradise Mint for less.
@HoneyMarket said:
Let the predictions begin on when there will be a sell-out!
I'll predict a sell-out - 11/15/23.
Nah. The fact that any dealers have been recently offering any premium at all for them means that there is unsatisfied dealer demand.
If they aren't able to satisfy it on 11/9, you can be sure it will be satisfied when HHLs are lifted on 11/10. Given how few are actually still available for sale, they will be gone very quickly on 11/10, if they even make it that far.
Still doesn't mean anyone should be expecting a quick, lucrative flip. Also doesn't mean anyone should expect to be sitting around chuckling on Thanksgiving, saying "I told you so" as they are still available for sale from the Mint, other than what might pop up at 7:30 a.m. as returns and bad credit cards are processed.
I predict a sellout by 12:15. A first year type coin (NCLT), winner, winner, chicken dinner. Throw in the time of year (near Christmas), makes an excellent present for a relative. Could be the 2023 big winner at the US Mint. Just sayin........
Order processing 11/04/2023 @1:43 am (via text from CC). US Mint "order placed" with a current "processing" status (5 sets with Next Business Day shipping).
I’m a little confused about how a lot of people saying these are going to me a quick sell out. If people wanted this set wouldn’t they have subscribed to it already? You would save shipping cost by doing so. I’ve been seeing a lot of people lowering or even canceling their subscriptions in the last few weeks. I’m sure at some point it will be a sell out but I don’t think it will live up to all the hype that was going around months ago for this set. You can see the pre sale prices on eBay slowly going down. I cancelled all mine and ordered a graded set. A lot more cost effective.
Been reading a lot of posts here about reducing subs, canceling subs, how quick the sellout will be, etc.
Doesn’t anyone collect coins anymore?
There was a time where people enjoyed the new products. However, that was a long time ago back when you had to mail in your order. Ok… maybe I’m getting old but it seems the hobby has taken a misguided turn.
"What we are never changes, but who we are ... never stops changing."
My credit card got charged today (November 4th).
I thought the mint only charge the credit card on the day of shipping! Which should be after November 9th!
@SilverPlatinum said:
My credit card got charged today (November 4th).
I thought the mint only charge the credit card on the day of shipping! Which should be after November 9th!
@SilverPlatinum said:
My credit card got charged today (November 4th).
I thought the mint only charge the credit card on the day of shipping! Which should be after November 9th!
Here is a screenshot of my credit card online transactions, in Canadian dollars for 5 sets (after the exchange rate applied):
How can I tell if this was per-authorize or an actual charge?
@SilverPlatinum said:
My credit card got charged today (November 4th).
I thought the mint only charge the credit card on the day of shipping! Which should be after November 9th!
Here is a screenshot of my credit card online transactions, in Canadian dollars for 5 sets (after the exchange rate applied):
How can I tell if this was per-authorize or an actual charge?
To me, the word "pending" suggests that it is a pre-auth. Reference
If you want to be sure, you could contact your cc company.
I had reduced my subscription to 1. I checked my credit card and I noticed that on my wife's account, we had ordered 3. I never thought to check my wife's account if I had a subscription active. Oh well, I will now have four of them.
I was contemplating cancelling and forgot.. oh well
Shipping Status: PROCESSING
Method: Bestway USPS-FC or USPS-PM
Morgan and Peace Dollar 2023 Two-Coin Reverse Proof Set
SAN FRANCISCO (S)
$ 185.00Qty 3Total:$ 555.00
@USMC_6115 said:
I was contemplating cancelling and forgot.. oh well
Shipping Status: PROCESSING
Method: Bestway USPS-FC or USPS-PM
Morgan and Peace Dollar 2023 Two-Coin Reverse Proof Set
SAN FRANCISCO (S)
$ 185.00Qty 3Total:$ 555.00
Same thing happened to me with my wife's account. Surprise. As you say, Oh well. It's meant to be.
@HATTRICK said:
The mint was being overwhelmed with cancellation of subscriptions so they started locking in orders early to reduce the number of cancellations
@Orlena said:
I’m seeing a lot of folks who are (claiming) to cancel their subscriptions. I’m actually surprised- this is a great set and a completely new finish, the first in a potentially new series.
Are the cancellations people who thought they found the pot of gold and now are rethinking? I signed up for two and am sticking to it. No plans to sell anytime soon and no plans to grade. I just like the coins and the presentation.
Maybe this program of allowing no commitment subscriptions might be the wrong direction?
Anyway I’m excited to see what shows up in the next week or so. Happy collecting
Before Christmas selling season ... hard to go wrong .. but not expecting moon money
@JBK said:
Now I'm starting to think you're all giving the mint too much credit. They'll create a very flippable coin again someday, even if it's by accident.
Once in a Blue Moon ....yes to give Mint sales a boost..
The fact that subscriptions are still available and have been every time that I’ve checked them over the last few weeks is telling. If you like the coin buy it of course. But if you expect to make money selling it you are going to be out of luck.
@Tomthemailcarrier said:
The fact that subscriptions are still available and have been every time that I’ve checked them over the last few weeks is telling. If you like the coin buy it of course. But if you expect to make money selling it you are going to be out of luck.
Time will tell. Will be interesting to see if the people who are pre-buying graded MS70 sets on Ebay get their orders canceled. That would be a huge game changer😉
In the not too distant future few will give a RATS A$$ what ridiculous label is on the coin and they will give no additional value
to the rarity or condition of the coin.
" If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
@RichR said:
[The mint was being overwhelmed with cancellation of subscriptions so they started locking in orders early to reduce the number of cancellations]
...or when the clock ticked Sunday, we were within the 3 or 4 day order processing/non cancellation window.
I believe that's standard operating procedure.
Friday is not Sunday. Your "sometimers" is showing.
" If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
Comments
Yeah! What I meant was that people won't even remember that good flips were a thing, and in that respect, a reference to flips won't age well.
Now I'm starting to think you're all giving the mint too much credit. They'll create a very flippable coin again someday, even if it's by accident.
@NJCoin
The Coin Vault is a family owned operation for 30 plus years, The 2 brothers (grandsons) are the hosts, so no host cost, I would have to believe that the production costs (camera, lights, stage, etc.) are mostly upfront? They also have a website, so volume is there also. I would imagine they get deals from the mint and 3rd party graders...
I watch at times to see what they are peddling...
NJCoin said: The margins, at either $400 or $480, are actually a lot less than for a large dealer selling on the web or through eBay for $350, when you take into account buying airtime, paying hosts, and production costs, in addition to all the other inventory and shipping costs any other dealer has.
All the Mint would need to do to get interest back and to create the occasional flip-worthy coin is to not publish the mintage number. Then a couple times a year, put the sold out sign up when they reach their planned mintage limit - unexpectedly catching a portion of the market without.
So, the brothers' time is worth nothing and they are expected to work for free? They can't be doing anything else when they are on TV peddling coins? Selling coins on TV is expensive. Period. That's why they are expensive.
They are reaching people they wouldn't otherwise reach, and they are selling to them at increased prices. Kind of the same way a bottle of milk costs more at a 24-hour 7-11 than at Costco.
And yes, of course, the TV guys are among the biggest of dealers, so they get all the best pricing. But, no better than other large dealers. The Pinehursts of the world can sell for less because they are not on TV. Not because the TV guys are screwing anyone. Or because Pinehurst is giving anything away.
What do you mean "get interest back"? They are going to sell a half million .85 ounce silver coins for $92.50 each. They have plenty of interest. Their interest is in not selling 100K of them, and watching us flip them for $300 each.
Yeah. I agree. The Mint has no interest, nor should it, in creating flips.
They do need to occasionally create a "winner" to maintain interest but that is not identical to a "flip".
I call it throwing the dog a bone.
Woof.
(They see us as the dogs).
BINGO!
Me thinks...some around here, are cashing in on credit, that they don't have, in the understanding of a government operation and explaining it to the rest of us like they have the expertise to speak on such matters with their insight and knowledge!
BST references available on request
There could be signed certificates or some other easter egg waiting to be discovered in these. Instant flip potential.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
Agreed. But, these ARE winners. 250-400K of each. 6 coins this year alone. They are being gobbled up, and are maintaining their value. If that's not interest, what is, even though they are not a "winners" as some define it?
I’m also in full agreement. If you want a quick score the new coin issue ship has sailed. Whether it’s US or Royal Mint or Libertads, etc the quick flip is close to dead.
Great for collectors since you don’t have to get jammed by someone who bought a bunch and closed you out.
The trick with The Coin Vault is to watch the show to see what they are selling. If you see something you like buy it from SilverTowne or Paradise Mint for less.
Let the countdown begin.
Mint PR
Let the predictions begin on when there will be a sell-out!
I'll predict a sell-out - 11/15/23.
BST references available on request
11-10
12:05 pm.....5 minutes after HH limits lifted........if there are any even available Friday.
Agreed.
Nah. The fact that any dealers have been recently offering any premium at all for them means that there is unsatisfied dealer demand.
If they aren't able to satisfy it on 11/9, you can be sure it will be satisfied when HHLs are lifted on 11/10. Given how few are actually still available for sale, they will be gone very quickly on 11/10, if they even make it that far.
Still doesn't mean anyone should be expecting a quick, lucrative flip. Also doesn't mean anyone should expect to be sitting around chuckling on Thanksgiving, saying "I told you so" as they are still available for sale from the Mint, other than what might pop up at 7:30 a.m. as returns and bad credit cards are processed.
I predict a sellout by 12:15. A first year type coin (NCLT), winner, winner, chicken dinner. Throw in the time of year (near Christmas), makes an excellent present for a relative. Could be the 2023 big winner at the US Mint. Just sayin........
Order processing 11/04/2023 @1:43 am (via text from CC). US Mint "order placed" with a current "processing" status (5 sets with Next Business Day shipping).
Just checked mine. Processing, sure glad I didn’t cancel mine. These are going to be a Terrific coin from the mint imo.
I checked mine and mine is processing also. Really looking forward to this set. I think these will spectacular in hand.
Here is my Washington Quarter Variety Registry Set
This is my Washington Quarter Proof Variety Registry Set
I’m a little confused about how a lot of people saying these are going to me a quick sell out. If people wanted this set wouldn’t they have subscribed to it already? You would save shipping cost by doing so. I’ve been seeing a lot of people lowering or even canceling their subscriptions in the last few weeks. I’m sure at some point it will be a sell out but I don’t think it will live up to all the hype that was going around months ago for this set. You can see the pre sale prices on eBay slowly going down. I cancelled all mine and ordered a graded set. A lot more cost effective.
Been reading a lot of posts here about reducing subs, canceling subs, how quick the sellout will be, etc.
Doesn’t anyone collect coins anymore?
There was a time where people enjoyed the new products. However, that was a long time ago back when you had to mail in your order. Ok… maybe I’m getting old but it seems the hobby has taken a misguided turn.
This Forum Thread has been as entertaining as an afternoon soap-opera... "Like sand through an hourglass, so are the coins of our lives.."
My credit card got charged today (November 4th).
I thought the mint only charge the credit card on the day of shipping! Which should be after November 9th!
Actually charged, or just pre-authorized?
Here is a screenshot of my credit card online transactions, in Canadian dollars for 5 sets (after the exchange rate applied):
How can I tell if this was per-authorize or an actual charge?
Maybe the "pending" part? Just a guess.
To me, the word "pending" suggests that it is a pre-auth. Reference
If you want to be sure, you could contact your cc company.
They charged my bank account last night. Fund’s withdrawn.
Available right now on Mint website under subscription option.....
I had reduced my subscription to 1. I checked my credit card and I noticed that on my wife's account, we had ordered 3. I never thought to check my wife's account if I had a subscription active. Oh well, I will now have four of them.
I’ve been charged this AM. I’m ready and waiting.
I was contemplating cancelling and forgot.. oh well
Shipping Status: PROCESSING
Method: Bestway USPS-FC or USPS-PM
Morgan and Peace Dollar 2023 Two-Coin Reverse Proof Set
SAN FRANCISCO (S)
$ 185.00Qty 3Total:$ 555.00
Same thing happened to me with my wife's account. Surprise. As you say, Oh well. It's meant to be.
The mint was being overwhelmed with cancellation of subscriptions so they started locking in orders early to reduce the number of cancellations
Just checked my account and my subscription orders are currently in the processing state.
USN & USAF retired 1971-1993
Successful Transactions with more than 100 Members
BST references available on request
Before Christmas selling season ... hard to go wrong .. but not expecting moon money
Once in a Blue Moon ....yes to give Mint sales a boost..
[The mint was being overwhelmed with cancellation of subscriptions so they started locking in orders early to reduce the number of cancellations]
...or when the clock ticked Sunday, we were within the 3 or 4 day order processing/non cancellation window.
I believe that's standard operating procedure.
The fact that subscriptions are still available and have been every time that I’ve checked them over the last few weeks is telling. If you like the coin buy it of course. But if you expect to make money selling it you are going to be out of luck.
Time will tell. Will be interesting to see if the people who are pre-buying graded MS70 sets on Ebay get their orders canceled. That would be a huge game changer😉
FYI - NGC Special Label @ 2023 Baltimore Whitman Expo November 9 -11, 2023.
https://ngccoin.com/news/article/12256/
In the not too distant future few will give a RATS A$$ what ridiculous label is on the coin and they will give no additional value
to the rarity or condition of the coin.
Friday is not Sunday. Your "sometimers" is showing.
BST references available on request
Take the "old School" label. Mature, Loyal, will always be there for you, and less expensive...