They did the exact same thing with the first few state quarter FDCs. All of a sudden they found a boat load of the first FDCs. These things were selling for $300 to $500 before the Mint released more.
PCGS Currency: HOF 2013, Best Low Ball Set 2009-2014, 2016, 2018. Appreciation Award 2015, Best Showcase 2018, Numerous others.
Yeah, the other areas where someone can lose money would be anything and everything ever minted
Well, my comment had some qualifications. What I meant is that early U.S. coins and currency does not depreciate in value. Of course, some will argue the 1989 highs and the subsequent crash. I would counter that the highs in 89 were artificial. Look at the prices of early coins from 1990 through 2004, there's an undeniable positive trend. As a coin dealer, I mostly get offered modern coins from the public through our Yellow Pages ad. 99% of the time, the people are selling the coins at a loss (US Mint issue price vs. CDN). That's what I meant by my comment.
The irony is that 1.75X face is still too much for a 2001 Half, imo. Too common. Those who paid 10X face a few months ago are stuck. You can buy Franklins and Walkers for 4.5X face today.
<< Mint to release 2001 Kennedy rolls, Link. A roll of the P's went for $200 a while back, pulled from mint sets. I for one am OK with it.
What is your oppinion? >>
Was there something special about 2001 Kennedys? I thought you could just go to the bank every year and pick up as many rolls as you like? Were there limited numbers or something?
I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
ddink - They didn't release any 2001-P Kennedy's into circulation only in mint sets. They did release some 2001-D's. I have a very dinged up one I pulled from circulation for my Whitman album.
I don't think the Carson City stash was something many folks knew about. The fact that the 2001-P's were sitting at the mint was common knowledge. The fed had positive flow of halves into the banks, therefore the 2001's weren't released. The mint never said they wouldn't be just that that they needn't be. Anyone "investing" in these should have known this.
The only special thing about them is the fact that they have never been released for circulation because there has been a glut of half dollars in the Federal Reserve. So they haven't needed to order any more from the mint . They were struck with the intent of having them circulate (Unlike the 2002, 3, & 4's which have struck for sale to collectors only.) but the entire mintage is still sitting in the mint vaults. In order to get specimens collectors have had to raid mint sets and that has pushed the price for the rolls up. Now the mint is going to sell rolls directly to collectors from the vaults undercutting the current market prices.
whats next, releasing `02,`03,`04 Saccies for circulation? they minted enough to do that I think. there just isnt enough collectors to buy all those for to be just a collector coin.
why is the Mint so collector unfriendly? i bet theyve run a boatload of collectors away from the hobby by some of the things they,ve pulled
Post-1998 coins aren't really moderns because they have been treated differently than the older coins. Most of these coins have been saved in some quantities un- like the older coins. They have recieved a great deal more attention from the gen- eral public and coin collectors. They should be differentiated from moderns on this basis. These newer ones might be called ultra-moderns. Many of them still exist in fed and mint stockpiles simply because it takes time to rotate the entire stock of cur- rent coin into circulation. There may be some moderns still in stock, but if there are they would be only the '96, '97, and '98 quarters which may have been stockpiled in case of excessive hoarding of the states issues.
This is not to say that ultra moderns aren't collectible or are all common. The demand for some of these is substantial and some are difficult to find in choice condition. Indeed, some like the 2001's are not widely available in any condition. People who buy coins still in the pipeline are taking something of a chance simply because there is some chance that these coins will all be searched and the gems found. This will result in a skewing of the populations for those coins.
By the same token there are huge numbers of moderns sitting in fed stock right now and are likely to be there for some time yet. These coins are ALL circulated (except a few late dates which haven't physically accrued the damage necessary to make AU), but they are not wearing any more while they sit in storage. They are mixed with substantial numbers of ultra moderns. Eventually these coins will all reenter circulation and will appear to be higher grade than the coins we've been using.
As far as losing money on coins the opportunity is certainly there with any coins and mod- erns as well as ultra-moderns are more prone to this than most US coins. But there have been huge gains in many of these coins and these gains are in many cases ongoing. While one might see a modern drop from $200 to $100 another sees a $100 coin that was $3 a few years ago. ...and may be able to cite many $3 coins that might be $100 in a few years.
It should come as little surprise that coins less than six years old might have very unstable supply or demand.
Mint officials should read the children's story about goose that laid the golden egg. When the farmer got greedy and slaughtered the goose he found out that its insides were like all other geese.
They could find that they have done damage to the markets that they have carefully built among collectors over the last few years.
Selling off these back dated coins is an abuse. I hope that the laws concerning the use of back dated dies to produce restrikes will be enforced. Historically that has not always been the case. In the 19th century you wanted an 1804 dollar, an 1856 Flyer and almost any other coin that had been made over a 20 year span, the mint would make one for you for a price and tell you that it had been struck in the year that appeared on the coin.
How would you feel if you just paid $200+ for a 1999 silver Proof set and then the mint "discovers" more in their vaults and offers them for well over the original issue price thus deluting the market? This almost happened a couple of years ago.
My opinion is that it stinks.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
How would you feel if you just paid $200+ for a 1999 silver Proof set and then the mint "discovers" more in their vaults and offers them for well over the original issue price thus deluting the market? This almost happened a couple of years ago.
Logic dictates that as supply increases, demand decreases, and value decreases as well. The US Mint, being in effect the world's largest coin dealer, is in the unique position of being able to create supply. Hence, any of their products must be treated as higher risk in terms of appreciation. The only logical choice is to buy a few, but no more than you can afford to lose.
<< <i>Selling off these back dated coins is an abuse. I hope that the laws concerning the use of back dated dies to produce restrikes will be enforced. >>
Uhhh, these aren't back dated coins and they aren't restrikes. These are just coins which have been sitting in mint vaults since 2001 because the Federal Reserve has not been requesting half dollars.
<< <i>Selling off these back dated coins is an abuse. I hope that the laws concerning the use of back dated dies to produce restrikes will be enforced. >>
Uhhh, these aren't back dated coins and they aren't restrikes. These are just coins which have been sitting in mint vaults since 2001 because the Federal Reserve has not been requesting half dollars. >>
I never said that these coins were restrikes, but given the new "market mentality" on the part of the mint and the history of crooked mint employees there is a remote possibility that such foolishness could happen.
The ghost of Samuel Brown (the crooked mint employee who was at the center of the 1913 Liberty nickel story) still might be wondering around at the mint.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Comments
Bad move...
Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?
Our eBay auctions - TRUE auctions: start at $0.01, no reserve, 30 day unconditional return privilege & free shipping!
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
<< <i>I think that moderns are one of the few areas in numismatics where someone can lose money these days >>
Yeah, the other areas where someone can lose money would be anything and everything ever minted.
Russ, NCNE
Knowledge is the enemy of fear
Looking for PCGS AU58 Washington's, 32-63.
Well, my comment had some qualifications. What I meant is that early U.S. coins and currency does not depreciate in value. Of course, some will argue the 1989 highs and the subsequent crash. I would counter that the highs in 89 were artificial. Look at the prices of early coins from 1990 through 2004, there's an undeniable positive trend. As a coin dealer, I mostly get offered modern coins from the public through our Yellow Pages ad. 99% of the time, the people are selling the coins at a loss (US Mint issue price vs. CDN). That's what I meant by my comment.
The irony is that 1.75X face is still too much for a 2001 Half, imo. Too common. Those who paid 10X face a few months ago are stuck. You can buy Franklins and Walkers for 4.5X face today.
Edited to fix math.
Our eBay auctions - TRUE auctions: start at $0.01, no reserve, 30 day unconditional return privilege & free shipping!
Those of you who think the price is 3.5 times face need to put a new battery in your calculator..........
And hey, while you're buying your 2001 Kennedies, don't forget to get your 1999 proof Susan B!
Knowledge is the enemy of fear
Our eBay auctions - TRUE auctions: start at $0.01, no reserve, 30 day unconditional return privilege & free shipping!
Nobody ever said life would be FAIR.
<< <i>It would be interesting to find out what other "hoards" of coins the U.S. Mint may have hiiden deep in the bowels of their coin vault...
I don't think many collectors minded when they heard about GSA dollars.
But I also think this is quite different.
Mint to release 2001 Kennedy rolls, Link. A roll of the P's went for $200 a while back, pulled from mint sets. I for one am OK with it.
What is your oppinion?
>>
Was there something special about 2001 Kennedys? I thought you could just go to the bank every year and pick up as many rolls as you like? Were there limited numbers or something?
I don't think the Carson City stash was something many folks knew about. The fact that the 2001-P's were sitting at the mint was common knowledge. The fed had positive flow of halves into the banks, therefore the 2001's weren't released. The mint never said they wouldn't be just that that they needn't be. Anyone "investing" in these should have known this.
W.C. Fields
2001 KENNEDY HALF DOLLARS US MINT 2-ROLL SET *PRE SALE*
I better jump on this quick!
Craig
2001-D are available here in Colorado Springs, CO. I've gotten 3. Nothing memorable about them, I spent them.
they minted enough to do that I think.
there just isnt enough collectors to buy all those for to be just a collector coin.
why is the Mint so collector unfriendly?
i bet theyve run a boatload of collectors away from the hobby by some of the things they,ve pulled
than the older coins. Most of these coins have been saved in some quantities un-
like the older coins. They have recieved a great deal more attention from the gen-
eral public and coin collectors. They should be differentiated from moderns on this
basis. These newer ones might be called ultra-moderns. Many of them still exist in
fed and mint stockpiles simply because it takes time to rotate the entire stock of cur-
rent coin into circulation. There may be some moderns still in stock, but if there are
they would be only the '96, '97, and '98 quarters which may have been stockpiled in
case of excessive hoarding of the states issues.
This is not to say that ultra moderns aren't collectible or are all common. The demand
for some of these is substantial and some are difficult to find in choice condition. Indeed,
some like the 2001's are not widely available in any condition. People who buy coins
still in the pipeline are taking something of a chance simply because there is some chance
that these coins will all be searched and the gems found. This will result in a skewing of
the populations for those coins.
By the same token there are huge numbers of moderns sitting in fed stock right now and
are likely to be there for some time yet. These coins are ALL circulated (except a few late
dates which haven't physically accrued the damage necessary to make AU), but they are
not wearing any more while they sit in storage. They are mixed with substantial numbers
of ultra moderns. Eventually these coins will all reenter circulation and will appear to be
higher grade than the coins we've been using.
As far as losing money on coins the opportunity is certainly there with any coins and mod-
erns as well as ultra-moderns are more prone to this than most US coins. But there have
been huge gains in many of these coins and these gains are in many cases ongoing. While
one might see a modern drop from $200 to $100 another sees a $100 coin that was $3 a
few years ago. ...and may be able to cite many $3 coins that might be $100 in a few years.
It should come as little surprise that coins less than six years old might have very unstable
supply or demand.
They could find that they have done damage to the markets that they have carefully built among collectors over the last few years.
Selling off these back dated coins is an abuse. I hope that the laws concerning the use of back dated dies to produce restrikes will be enforced. Historically that has not always been the case. In the 19th century you wanted an 1804 dollar, an 1856 Flyer and almost any other coin that had been made over a 20 year span, the mint would make one for you for a price and tell you that it had been struck in the year that appeared on the coin.
How would you feel if you just paid $200+ for a 1999 silver Proof set and then the mint "discovers" more in their vaults and offers them for well over the original issue price thus deluting the market? This almost happened a couple of years ago.
My opinion is that it stinks.
My opinion is that it stinks.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Live long and prosper.
Anybody know how the mint might have stored the 2001's? What I am getting at is -
Do they have to re-roll them, increasing the marks and damage on them?
Or is it no different than dealing with a bank's roll?
in jumbo bags or in $1,000 bags.
<< <i>Selling off these back dated coins is an abuse. I hope that the laws concerning the use of back dated dies to produce restrikes will be enforced. >>
Uhhh, these aren't back dated coins and they aren't restrikes. These are just coins which have been sitting in mint vaults since 2001 because the Federal Reserve has not been requesting half dollars.
<< <i>
<< <i>Selling off these back dated coins is an abuse. I hope that the laws concerning the use of back dated dies to produce restrikes will be enforced. >>
Uhhh, these aren't back dated coins and they aren't restrikes. These are just coins which have been sitting in mint vaults since 2001 because the Federal Reserve has not been requesting half dollars. >>
I never said that these coins were restrikes, but given the new "market mentality" on the part of the mint and the history of crooked mint employees there is a remote possibility that such foolishness could happen.
The ghost of Samuel Brown (the crooked mint employee who was at the center of the 1913 Liberty nickel story) still might be wondering around at the mint.
<< <i>Logic dictates that as supply increases, demand decreases >>
Spock is having a good smile, (laughing his ass off would be too emotional), at you right now.
Russ, NCNE