@ShaunBC5 said:
I may never play, but I’ve seen way worse games. If a family member wants to spend $100 on me for Christmas and surprise me, this might be a great option. Semi-Guaranteed somewhere in the neighborhood of $50 worth of coins, chance for a big winner, they give me something we can enjoy (the unboxing of) together.
I like the higher floor and the fact that the coins can differentiate themselves as opposed to the label being “rare.”
We’ll see. This is my favorite of the ones I’ve seen.
I don't know how many will be made, or if they will be an ongoing thing that you can purchase any time, but they might sell out before Christmas.
My sense is Seth will sell as many as people want. It’s not difficult for him to get a ton of low value MS67-69 Modern coins graded quickly by CACG, along with a bunch of straight graded low value Classic coins to mix in!
Steve
He actually can't do that. You need to establish the number available before they go on sale or the odds change.
True. I don't think that's literally what was meant. I took it to mean that there can be an infinite number of series, as long as there is demand.
@ShaunBC5 said:
I may never play, but I’ve seen way worse games. If a family member wants to spend $100 on me for Christmas and surprise me, this might be a great option. Semi-Guaranteed somewhere in the neighborhood of $50 worth of coins, chance for a big winner, they give me something we can enjoy (the unboxing of) together.
I like the higher floor and the fact that the coins can differentiate themselves as opposed to the label being “rare.”
We’ll see. This is my favorite of the ones I’ve seen.
I don't know how many will be made, or if they will be an ongoing thing that you can purchase any time, but they might sell out before Christmas.
My sense is Seth will sell as many as people want. It’s not difficult for him to get a ton of low value MS67-69 Modern coins graded quickly by CACG, along with a bunch of straight graded low value Classic coins to mix in!
Steve
He actually can't do that. You need to establish the number available before they go on sale or the odds change.
True. I don't think that's literally what was meant. I took it to mean that there can be an infinite number of series, as long as there is demand.
@ShaunBC5 said:
I hear you, the $100 wasn’t a hard number, I should have just said “comparable cost to the other options” which I know is well over $100. Regardless, the floor should be in the 50% of cost range, which isn’t horrible for a gamble.
Also, I wasn’t saying that you in particular were detesting. There’s a lot about these kinds of things to be detested and a few things to liked.
Gotcha. And, please don't get me wrong. I'm the farthest thing from a fan. I'm just done pooping on something people clearly like, and seem to understand. I arrogantly thought people did not understand the risk/reward of participating in unregulated lotteries.
I was at least partially correct, to the extent people were screaming after they saw what happened with the first VB series. But I was wrong to the extent that VBs continue to sell out, indicating people are just never going to understand. Or, more likely, and as @jmlanzaf has been saying all along, they get it and just don't care, because the thrill of the break supersedes any concerns over being screwed.
So, there is a market for people to get 50-70 cents on the dollar, on average, for the chance for a score, as you are demonstrating. I'm not sure that your chance for a score is the same as others, since distribution is not regulated or overseen by a third party. But, if you don't care about that, I am way past the point of caring on your behalf.
Wow... just wow...
Luv ya, brother!
I always knew, deep down, that you two would finally hug it out and put your differences aside. Unlikely friendship stories like this warm my heart ❤️.
@SIowhand said:
Maybe I’m missing something. I wouldn’t have expected something like this from Witter.
You're not missing anything. They are business people. There is demand, and money to be made.
Some people have enough money, and won't do certain things that, while legal, make them uncomfortable. Others have no such restraints. In all industries, not just numismatics.
I'm shocked people are actually attracted to this, given the disclosures regarding the value, lack of third party oversight and method of distribution, but cast no aspersions on people meeting a market demand.
@ShaunBC5 said:
I may never play, but I’ve seen way worse games. If a family member wants to spend $100 on me for Christmas and surprise me, this might be a great option. Semi-Guaranteed somewhere in the neighborhood of $50 worth of coins, chance for a big winner, they give me something we can enjoy (the unboxing of) together.
I like the higher floor and the fact that the coins can differentiate themselves as opposed to the label being “rare.”
We’ll see. This is my favorite of the ones I’ve seen.
I don't know how many will be made, or if they will be an ongoing thing that you can purchase any time, but they might sell out before Christmas.
My sense is Seth will sell as many as people want. It’s not difficult for him to get a ton of low value MS67-69 Modern coins graded quickly by CACG, along with a bunch of straight graded low value Classic coins to mix in!
Steve
He actually can't do that. You need to establish the number available before they go on sale or the odds change.
True. I don't think that's literally what was meant. I took it to mean that there can be an infinite number of series, as long as there is demand.
@ShaunBC5 said:
I hear you, the $100 wasn’t a hard number, I should have just said “comparable cost to the other options” which I know is well over $100. Regardless, the floor should be in the 50% of cost range, which isn’t horrible for a gamble.
Also, I wasn’t saying that you in particular were detesting. There’s a lot about these kinds of things to be detested and a few things to liked.
Gotcha. And, please don't get me wrong. I'm the farthest thing from a fan. I'm just done pooping on something people clearly like, and seem to understand. I arrogantly thought people did not understand the risk/reward of participating in unregulated lotteries.
I was at least partially correct, to the extent people were screaming after they saw what happened with the first VB series. But I was wrong to the extent that VBs continue to sell out, indicating people are just never going to understand. Or, more likely, and as @jmlanzaf has been saying all along, they get it and just don't care, because the thrill of the break supersedes any concerns over being screwed.
So, there is a market for people to get 50-70 cents on the dollar, on average, for the chance for a score, as you are demonstrating. I'm not sure that your chance for a score is the same as others, since distribution is not regulated or overseen by a third party. But, if you don't care about that, I am way past the point of caring on your behalf.
Wow... just wow...
Luv ya, brother!
I always knew, deep down, that you two would finally hug it out and put your differences aside. Unlikely friendship stories like this warm my heart ❤️.
@ShaunBC5 said:
I may never play, but I’ve seen way worse games. If a family member wants to spend $100 on me for Christmas and surprise me, this might be a great option. Semi-Guaranteed somewhere in the neighborhood of $50 worth of coins, chance for a big winner, they give me something we can enjoy (the unboxing of) together.
I like the higher floor and the fact that the coins can differentiate themselves as opposed to the label being “rare.”
We’ll see. This is my favorite of the ones I’ve seen.
I don't know how many will be made, or if they will be an ongoing thing that you can purchase any time, but they might sell out before Christmas.
My sense is Seth will sell as many as people want. It’s not difficult for him to get a ton of low value MS67-69 Modern coins graded quickly by CACG, along with a bunch of straight graded low value Classic coins to mix in!
Steve
He actually can't do that. You need to establish the number available before they go on sale or the odds change.
True. I don't think that's literally what was meant. I took it to mean that there can be an infinite number of series, as long as there is demand.
@ShaunBC5 said:
I hear you, the $100 wasn’t a hard number, I should have just said “comparable cost to the other options” which I know is well over $100. Regardless, the floor should be in the 50% of cost range, which isn’t horrible for a gamble.
Also, I wasn’t saying that you in particular were detesting. There’s a lot about these kinds of things to be detested and a few things to liked.
Gotcha. And, please don't get me wrong. I'm the farthest thing from a fan. I'm just done pooping on something people clearly like, and seem to understand. I arrogantly thought people did not understand the risk/reward of participating in unregulated lotteries.
I was at least partially correct, to the extent people were screaming after they saw what happened with the first VB series. But I was wrong to the extent that VBs continue to sell out, indicating people are just never going to understand. Or, more likely, and as @jmlanzaf has been saying all along, they get it and just don't care, because the thrill of the break supersedes any concerns over being screwed.
So, there is a market for people to get 50-70 cents on the dollar, on average, for the chance for a score, as you are demonstrating. I'm not sure that your chance for a score is the same as others, since distribution is not regulated or overseen by a third party. But, if you don't care about that, I am way past the point of caring on your behalf.
Wow... just wow...
Luv ya, brother!
I always knew, deep down, that you two would finally hug it out and put your differences aside. Unlikely friendship stories like this warm my heart ❤️.
@SethChandler
Just another idea for you (and you may have already set the wheels in motion) but it might be interesting to do WitterBrick offering that has series specific coins inside. I would find a SLQ/CBH/Peace etc box to be more enticing then random coins I have not interest in. Just a thought. Best of luck to you.
@pcgscacgold said: @SethChandler
Just another idea for you (and you may have already set the wheels in motion) but it might be interesting to do WitterBrick offering that has series specific coins inside. I would find a SLQ/CBH/Peace etc box to be more enticing then random coins I have not interest in. Just a thought. Best of luck to you.
Because he wants to make money, and this idea would have very limited appeal. The people the mystery boxes appeal to are gamblers who like the thrill of random coins. You can always sell if you get something you have no interest in.
By the time you get to the buyer like you, who wants a specific series, and is just looking for a little thrill by not knowing what date or mint mark they are getting, it's a tiny leap to tell you that sealed mystery boxes are not for you, and you should just buy a few lottery tickets to satisfy your gambling itch, and then go buy the specific coin you want.
If you still want a mystery coin in a specific series, walk up to a trusted dealer at a show, or at a B&M, give them your series and budget, and ask them to surprise you with a coin.
Apart from being in my mind, unethical, I don't see how this isn't an illegal lottery as well.
Trading card companies offering manufactured have only gotten around the "lottery" aspect by arguing that they value all the cards equally, and they can't control what the aftermarket values them at. Offering 'grab bags' and specifically valuing with a known % of value seem in direct violation of the penal code.
This one is not for me. But either way, I wish there was something regarding how the high value coins are distributed among the different box types. It can't be random because of the minimum value guarantee. Who is placing which coin where and how are they deciding the box type? Maybe this is somewhere but I couldn't find it.
@DocBenjamin said:
Tried reading through this. How much is each brick. Hundred or two I might be in. Chandler has a great reputation.
More that than, nah.
There are three options:
~ Base - minimum of three coins;
~ Prestige - minimum of three coins; guaranteed gold or silver label;
~ and Player's Box - minimum of three coins; guaranteed gold label.
@lermish said:
This one is not for me. But either way, I wish there was something regarding how the high value coins are distributed among the different box types. It can't be random because of the minimum value guarantee. Who is placing which coin where and how are they deciding the box type? Maybe this is somewhere but I couldn't find it.
Since there is also a guarantee that to receive a gold label coin if you buy a set of 5 mid-level boxes or a gold/silver label if you buy 10 of the entry levels I would guess that means that they also know which boxes are hits and which aren't?
Not my cup of tea but I think since Witter has a great reputation and prior sales of these types of things have shown a lot of demand that this will sell out very quickly and re-sell at a premium.
Just off the phone with Witter because my WitterBrick account has vanished (joined and completed survey on the first day the site was live - 7/5/2024). Was surprised to learn they aren't traveling to Long Beach next week as they are generally "front and center" at the show. According to Ben, there is so much going on with the release tomorrow, the show was not in the cards this fall.
In fact, there are lots of available tables as of this posting. I'm wondering if the Tampa show isn't suppressing some of the East Coast dealer attendance:
@pointfivezero said:
Just off the phone with Witter because my WitterBrick account has vanished (joined and completed survey on the first day the site was live - 7/5/2024). Was surprised to learn they aren't traveling to Long Beach next week as they are generally "front and center" at the show. According to Ben, there is so much going on with the release tomorrow, the show was not in the cards this fall.
In fact, there are lots of available tables as of this posting. I'm wondering if the Tampa show isn't suppressing some of the East Coast dealer attendance:
@DocBenjamin said:
Tried reading through this. How much is each brick. Hundred or two I might be in. Chandler has a great reputation.
More that than, nah.
There are three options:
~ Base - minimum of three coins;
~ Prestige - minimum of three coins; guaranteed gold or silver label;
~ and Player's Box - minimum of three coins; guaranteed gold label.
@U1chicago said:
Another mystery box concept coming soon….
“Similar to the concept of buying sealed packs of trading cards, WitterBrick will offer sealed boxes of carefully selected, vintage and modern U.S. coins that showcase their rich history and numismatic significance. Every coin in WitterBrick will be graded and certified by CAC Grading.”
@pointfivezero said:
Just off the phone with Witter because my WitterBrick account has vanished (joined and completed survey on the first day the site was live - 7/5/2024). [...]
Not sure if it helps, but I just noticed that the WB website has two different log-in options.
Got to give credit to Seth for his marketing acumen. It's fun to think about playing the game, but I like to think I'm a serious collector and as such this must be a pass for me.
Seated Half Society member #38 "Got a flaming heart, can't get my fill"
They're guaranteed to contain at least 70% of the purchase price in price guide value for the contents.
So 50% wholesale? If so, this is a way for the seller to double their wholesale value of some types of coins by a wittery marketing scheme where said seller would never get those prices for such coins selling directly? All in all just another Brick in the Wall………….
They're guaranteed to contain at least 70% of the purchase price in price guide value for the contents.
So 50% wholesale? If so, this is a way for the seller to double their wholesale value of some types of coins by a wittery marketing scheme where said seller would never get those prices for such coins selling directly? All in all just another Brick in the Wall………….
Witterally hitting the jackpot.
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
@jmlanzaf said:
Yeah, I hate when a business makes money selling people something they want.
I don't think the issue is about making money. CAC and Witter Coin being associated with a gimmick lessens both of their brands and diverts resources to an endeavor that while profitable, doesn't benefit (maybe even hurts) the hobby.
@jmlanzaf said:
Yeah, I hate when a business makes money selling people something they want.
I don't think the issue is about making money. CAC and Witter Coin being associated with a gimmick lessens both of their brands and diverts resources to an endeavor that while profitable, doesn't benefit (maybe even hurts) the hobby.
It's a form of gambling, that's all it is. I don't think it lessens anything but overall it's probably good for the coin economy as it creates additional demand for coins. Edited to add: ...and allows dealers to move stale inventory.
@jmlanzaf said:
Yeah, I hate when a business makes money selling people something they want.
I don't think the issue is about making money. CAC and Witter Coin being associated with a gimmick lessens both of their brands and diverts resources to an endeavor that while profitable, doesn't benefit (maybe even hurts) the hobby.
It's a form of gambling, that's all it is. I don't think it lessens anything but overall it's probably good for the coin economy as it creates additional demand for coins.
And it is a form of gambling that:
A - Buyers might get coins they don't want that they overpaid for to appease their gambling addiction.
B - The seller greatly benefits by maximizing return on coins that would take alot more effort to sell but instead now can bank on gamblers gambling.
C - Is it just a matter of time before the Vegas big houses get involved in this scheme? What better place to do this than on the casino floor.........................
But hey it is all in the name fun as @jmlanzaf repeats. And to some degree I can't argue with that but because of A and B above, I'd recommend it to anyone to stay away as with Vault Box, most everyone will still overpay with zero control on what you receive. Better way to collect IMO, just sayin'
Comments
True. I don't think that's literally what was meant. I took it to mean that there can be an infinite number of series, as long as there is demand.
Apparently not, based on his response.
And you thought there wouldn't be a dedicated Website.....silly you.
WitterBrick
Maybe I’m missing something. I wouldn’t have expected something like this from Witter.
You're not missing anything. They are business people. There is demand, and money to be made.
Some people have enough money, and won't do certain things that, while legal, make them uncomfortable. Others have no such restraints. In all industries, not just numismatics.
I'm shocked people are actually attracted to this, given the disclosures regarding the value, lack of third party oversight and method of distribution, but cast no aspersions on people meeting a market demand.
Some people prefer games of chance, while others prefer games of skill.
Apparently not, based on his response. > @Manifest_Destiny said:
But what of @WQuarterFreddie ?
What is this WitterBrink thing?????
Witter is on the brink of expanding the collector base of the coin business?
JB
I can't wait to see these coins. What's the chase coin? A proof pioneer gold coin? This should be fun!!! When's the launch date for your concept?
JB
Box of 1 coin, only $9995!
@SethChandler
Just another idea for you (and you may have already set the wheels in motion) but it might be interesting to do WitterBrick offering that has series specific coins inside. I would find a SLQ/CBH/Peace etc box to be more enticing then random coins I have not interest in. Just a thought. Best of luck to you.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
Because he wants to make money, and this idea would have very limited appeal. The people the mystery boxes appeal to are gamblers who like the thrill of random coins. You can always sell if you get something you have no interest in.
By the time you get to the buyer like you, who wants a specific series, and is just looking for a little thrill by not knowing what date or mint mark they are getting, it's a tiny leap to tell you that sealed mystery boxes are not for you, and you should just buy a few lottery tickets to satisfy your gambling itch, and then go buy the specific coin you want.
If you still want a mystery coin in a specific series, walk up to a trusted dealer at a show, or at a B&M, give them your series and budget, and ask them to surprise you with a coin.
Witter Coin University SWAG.....blue swag....blue hair.......
The Makings of WitterBrick......................."The gold label really pops!"
Lotta poppin' and some censored words going on in this video. 😅
Apart from being in my mind, unethical, I don't see how this isn't an illegal lottery as well.
Trading card companies offering manufactured have only gotten around the "lottery" aspect by arguing that they value all the cards equally, and they can't control what the aftermarket values them at. Offering 'grab bags' and specifically valuing with a known % of value seem in direct violation of the penal code.
https://law.justia.com/codes/california/2005/pen/319-329.html
:Guess WitterCoins needs the revenue..As Seth Chandler stated in a video,Hiis time is worth $500 an hour.
These are going to be available for purchase on Friday:
https://shop.witterbrick.com/
Here is another link to the coin distribution list:
https://witterbrick.com/release/witterbrick-1st-release-2024
Tried reading through this. How much is each brick. Hundred or two I might be in. Chandler has a great reputation.
More that than, nah.
This one is not for me. But either way, I wish there was something regarding how the high value coins are distributed among the different box types. It can't be random because of the minimum value guarantee. Who is placing which coin where and how are they deciding the box type? Maybe this is somewhere but I couldn't find it.
There are three options:
~ Base - minimum of three coins;
~ Prestige - minimum of three coins; guaranteed gold or silver label;
~ and Player's Box - minimum of three coins; guaranteed gold label.
Source: https://shop.witterbrick.com
Since there is also a guarantee that to receive a gold label coin if you buy a set of 5 mid-level boxes or a gold/silver label if you buy 10 of the entry levels I would guess that means that they also know which boxes are hits and which aren't?
Not my cup of tea but I think since Witter has a great reputation and prior sales of these types of things have shown a lot of demand that this will sell out very quickly and re-sell at a premium.
Just off the phone with Witter because my WitterBrick account has vanished (joined and completed survey on the first day the site was live - 7/5/2024). Was surprised to learn they aren't traveling to Long Beach next week as they are generally "front and center" at the show. According to Ben, there is so much going on with the release tomorrow, the show was not in the cards this fall.
In fact, there are lots of available tables as of this posting. I'm wondering if the Tampa show isn't suppressing some of the East Coast dealer attendance:
Tim
*edit to add floor plan
Thank you. Not my gig, but sure looks like fun for people that like action.
Will I be guaranteed a 2 Cent Piece?
Are these “grab bags” just another way to move stale stock peppered with some chum
Not sure if it helps, but I just noticed that the WB website has two different log-in options.
1) Appears to be for their registry.
Link: https://witterbrick.com/login
2) Appears to be for shopping.
Link: https://shop.witterbrick.com/account/login
Got to give credit to Seth for his marketing acumen. It's fun to think about playing the game, but I like to think I'm a serious collector and as such this must be a pass for me.
"Got a flaming heart, can't get my fill"
They're guaranteed to contain at least 70% of the purchase price in price guide value for the contents.
.
So 50% wholesale? If so, this is a way for the seller to double their wholesale value of some types of coins by a wittery marketing scheme where said seller would never get those prices for such coins selling directly? All in all just another Brick in the Wall………….
Witterally hitting the jackpot.
Young Numismatist • My Toned Coins
Life is roadblocks. Don't let nothing stop you, 'cause we ain't stopping. - DJ Khaled
Yeah, I hate when a business makes money selling people something they want.
I want one of those empty boxes so that I have a place for my CACG slabs. Don't fit right in PCGS or NGC holders.
Successful BST with BustDMs , Pnies20, lkeigwin, pursuitofliberty, Bullsitter, felinfoel, SPalladino (CBH's - 37 Die Marriage's)
$5 Type Set https://www.pcgs.com/setregistry/u-s-coins/type-sets/half-eagle-type-set-circulation-strikes-1795-1929/album/344192
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
They don’t even know what they’re getting. Soon there will be a need for a 800 phone number for people who have a mystery box gambling problem.
I don't think the issue is about making money. CAC and Witter Coin being associated with a gimmick lessens both of their brands and diverts resources to an endeavor that while profitable, doesn't benefit (maybe even hurts) the hobby.
It's a form of gambling, that's all it is. I don't think it lessens anything but overall it's probably good for the coin economy as it creates additional demand for coins. Edited to add: ...and allows dealers to move stale inventory.
And it is a form of gambling that:
A - Buyers might get coins they don't want that they overpaid for to appease their gambling addiction.
B - The seller greatly benefits by maximizing return on coins that would take alot more effort to sell but instead now can bank on gamblers gambling.
C - Is it just a matter of time before the Vegas big houses get involved in this scheme? What better place to do this than on the casino floor.........................
But hey it is all in the name fun as @jmlanzaf repeats. And to some degree I can't argue with that but because of A and B above, I'd recommend it to anyone to stay away as with Vault Box, most everyone will still overpay with zero control on what you receive. Better way to collect IMO, just sayin'
Player's Box sold out....
The regular box is sold out as well. <1 min.
Base Box sold out....
edited to correct information.
Tim
All sold out now - 2.5 minutes.
Tim
Cabbage Patch dolls sold out faster than that
I’m guessing that people will be paying $500+ for the base boxes later today on Whatnot.
First ebay listing: