Home U.S. Coin Forum

Liberty & Britannia Gold Proof Coin

HATTRICKHATTRICK Posts: 2,091 ✭✭✭✭✭
edited February 5, 2024 5:27PM in U.S. Coin Forum

This coin goes on sale Thursday with a mintage limit of 10,000 and a HHL of 1. After 24 hours the HHL increases to 5 until 2/16.
Apparently they don't count on a sellout on day 1. Two factors that will have a major effect on sales is the price of gold and the mints outrageous premium. It gives "Going for the Gold" a new meaning Mint style. I do not give it a lot of a chance for ROI or flip ability. Although some will like the coin and will spend the money to have it for their collection.

" If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater

Comments

  • NJCoinNJCoin Posts: 1,342 ✭✭✭✭✭
    edited February 5, 2024 7:39PM

    @HATTRICK said:
    This coin goes on sale Thursday with a mintage limit of 10,000 and a HHL of 1. After 24 hours the HHL increases to 5 until 2/16.
    Apparently they don't count on a sellout on day 1. Two factors that will have a major effect on sales is the price of gold and the mints outrageous premium. It gives "Going for the Gold" a new meaning Mint style. I do not give it a lot of a chance for ROI or flip ability. Although some will like the coin and will spend the money to have it for their collection.

    Bizarre that they have that secondary order limit for the next week. Why not just lift the limit after 24 hours, like they do for every other issue?

    I think it's because they absolutely DO expect a sellout. They are just allowing for the possibility of no first day sellout, in which event they are giving people another week, at a higher HHL, before opening it up to dealers. Likely because they want to give people a chance to learn about it once it is released, given that it's a pretty unique offering, and not part of a series.

    I also understand that it is scheduled to be pulled after a month if it does not sellout. That could actually support the secondary market, regardless of whether or not it sells out.

    After all, the idea is always to sell as many as they can. If they did not expect a fast sellout, it wouldn't make a lot of sense to have any HHL at all, let alone a two tier one to last 8 days.

    The only reason for HHLs is to facilitate wide distribution for items that are expected to be in high demand. Certainly not to make it more difficult to maximize sales.

    People here might not love it, but the premium is going to be consistent with the premiums for other products with a similar mintage. Demand remains to be seen, but they are clearly expecting a fast sellout. Otherwise, there would be no HHLs.

  • HATTRICKHATTRICK Posts: 2,091 ✭✭✭✭✭

    I think that along with their goal of a sell out they are trying new ways to spread distribution over single collectors, then collectors who like to buy more than one for whatever reason then wide open for the sell out. It is a good thing that the mint is experimenting with distribution methods that is beneficial to a range of customers .

    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • NJCoinNJCoin Posts: 1,342 ✭✭✭✭✭

    @HATTRICK said:
    I think that along with their goal of a sell out they are trying new ways to spread distribution over single collectors, then collectors who like to buy more than one for whatever reason then wide open for the sell out. It is a good thing that the mint is experimenting with distribution methods that is beneficial to a range of customers .

    Maybe. But it honestly makes no sense to me. Strict limit for 24 hours to limit the ability of a select group of people to grab a bunch for flipping makes perfect sense.

    After that, I honestly don't understand the reason behind dribbling anything out for a week before opening the floodgates. Other than, as I said above, they think people won't either know about this or understand what it is until after release, so they are leaving a window open for them before removing limits altogether.

    Kind of pointless IMHO. These will either languish due to lack of interest, OR sell out quickly once HHLs go from 1 to 5, given there will only be 10K of them. They might as well just remove the limit after 24 hours.

  • HATTRICKHATTRICK Posts: 2,091 ✭✭✭✭✭

    Price posted. $ 3,020. Rip off premium for sure. Resales of these will be at a loss and no room for graded flips. The big boys will have more slabbed coins than the market will bear and at a price that you will not be able to compete with.
    Can you say "LOOSER" for anyone except the mint and the big boys. >:)

    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • PerryHallPerryHall Posts: 45,193 ✭✭✭✭✭

    I'd rather buy a MS65 Saint and have money left over.

    Worry is the interest you pay on a debt you may not owe.

  • Manifest_DestinyManifest_Destiny Posts: 3,009 ✭✭✭✭✭

    The more I look at this coin, the more I hate it.

  • NJCoinNJCoin Posts: 1,342 ✭✭✭✭✭

    @HATTRICK said:
    Price posted. $ 3,020. Rip off premium for sure. Resales of these will be at a loss and no room for graded flips. The big boys will have more slabbed coins than the market will bear and at a price that you will not be able to compete with.
    Can you say "LOOSER" for anyone except the mint and the big boys. >:)

    Sure, but you have to accept that the Mint's objective is not to create flips. Aggressive pricing over the last few years, comparable to what other world mints do with limited mintage numismatic products, should make clear to everyone that the idea is to extract what the market will bear for the benefit of taxpayers, not internet flippers.

    Even if they don't sell out, they will still sell thousands at a 50% premium to bullion. And that's just fine with them, if the alternative is to sell them at a 5% premium, have a cluster-f**k on the website at noon, have them sell out in 10 minutes, have most of us complaining that we couldn't get any while bots and a Big Boy army of proxies grabbed most of them, and then see them offered for pre-sale on eBay for 100%+ premiums to bullion an hour after they sell out.

    It is what it is. As a taxpayer who does not employ bots or actively resell, I like it. I have access to everything I want at market, directly from the Mint. I get why someone who misses the opportunity to make easy money with very little risk or effort might not.

  • HATTRICKHATTRICK Posts: 2,091 ✭✭✭✭✭

    Still up over two hours later. Next test will be if 5 HHL can achieve a sell out in one week.

    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • HATTRICKHATTRICK Posts: 2,091 ✭✭✭✭✭

    Oh by the way. I think this coin is ugly and not buying any.

    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • HATTRICKHATTRICK Posts: 2,091 ✭✭✭✭✭
    edited February 9, 2024 12:10PM

    In the 5 HHL zone now and still available.
    It will probably last until at least 2/16 when the limit comes off and maybe longer

    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file