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Is secondary market demand for modern US Mint products softening?

291fifth291fifth Posts: 24,594 ✭✭✭✭✭
Is the profusion of expensive new issues taking its toll on collector interest? What about the decision to resume sales of some 2005 issues?
All glory is fleeting.

Comments

  • MrEurekaMrEureka Posts: 24,394 ✭✭✭✭✭
    What about the decision to resume sales of some 2005 issues?

    Details, please.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • 291fifth291fifth Posts: 24,594 ✭✭✭✭✭


    << <i>What about the decision to resume sales of some 2005 issues?

    Details, please. >>



    I believe sales of some of the 2005 proof sets (silver?) was resumed. Correct me if I'm wrong.
    All glory is fleeting.
  • BearBear Posts: 18,953 ✭✭✭
    The flood of the Gold and Silver Eagle 20th Ann Sets

    rather sucked some of the wind out of the Modern market.

    once the high level of sales of these sets moderate and demand

    catches up to supply ,we will see stabilization anfd a general increase

    in values of the sets and other Mint modern products.
    There once was a place called
    Camelotimage
  • TheRavenTheRaven Posts: 4,148 ✭✭✭✭
    I think they just bombed the market with some good products and where rather quiet about them for a good portion of the year.....

    The massive amount of money flowing into the bank account of the mint has to be taken from someplace.....

    I see it more as a temporary cash flow problem for some big time collectors/dealers then anything else.....
    Collection under construction: VG Barber Quarters & Halves
  • wayneherndonwayneherndon Posts: 2,357 ✭✭✭
    Andy,

    Legislation for the Westward Journey nickels prohibited them being sold after 12/31/05. This affected sets that included the nickels as well. So, the Mint took them off the market at the end of last year. Subsequently, the Mint successfully sought an amendment to the legislation and then put the sets back on sale (sometime around mid year I believe).

    You can read the Mint's press release on this here.

    WH
  • MrEurekaMrEureka Posts: 24,394 ✭✭✭✭✭
    You can read the Mint's press release on this here.

    Wow! That is completely obnoxious.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Gee what a shocker huh?
  • TheRavenTheRaven Posts: 4,148 ✭✭✭✭
    There is not a single reason that these coins from 2005 still need to be on sale.....

    We all know the reason, but it is not a good one.....

    Can't imagine they are selling more then a small handful each week.....
    Collection under construction: VG Barber Quarters & Halves
  • Many of this years modern gold issues will be trading around melt this time next year.
    You can't win an arguement with a crazy.

    Parker
  • krankykranky Posts: 8,709 ✭✭✭
    The Mint is happy to leave the risk up to the initial buyers regarding resale value. I think we can look forward to more different items with low mintages since the Mint gets near-instant sellouts. It's like the baseball card industry prior to its collapse - everything is a "limited edition", but there are a ton of them.

    My goodness - $300 million of gold buffalo sales and it didn't even take sales away from the standard AGE issues! I can't see how the secondary market can continue to absorb all this stuff.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • CoinHuskerCoinHusker Posts: 5,033 ✭✭✭


    << <i>There is not a single reason that these coins from 2005 still need to be on sale.....

    We all know the reason, but it is not a good one.....

    Can't imagine they are selling more then a small handful each week..... >>




    I have a feeling the same will happen with this years Old Mint Commems. At least that's for a good cause, but this extension of deadlines is not a good habit for the Mint to be getting into IMHO.
    Collecting coins, medals and currency featuring "The Sower"
  • TheRavenTheRaven Posts: 4,148 ✭✭✭✭
    Look at the often referenced rolls of Kennedy coins and I recall purchasing the 99 SBA Dollars from the mint back in 2001 when I started collecting.....

    Did they not do this back in the day with the Bicentennial material as well.....
    Collection under construction: VG Barber Quarters & Halves
  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    It's like the baseball card industry prior to its collapse - everything is a "limited edition", but there are a ton of them.

    That is an excellent analogy. image

    (Sorry about the Steelers image )
  • TheRavenTheRaven Posts: 4,148 ✭✭✭✭
    Does the baseball card industry even exist anymore?

    I have stacks and boxes are cards which are probably worth about what I can get out of them heat wise.....
    Collection under construction: VG Barber Quarters & Halves
  • 291fifth291fifth Posts: 24,594 ✭✭✭✭✭
    Is the secondary market softening? From what I heard at the Michigan State show the answer is yes. The softening may be a direct result of the mint's decision to put the 2005 sets back on sale.

    The ads in the numismatic press have shown widespread declines in modern proof sets in the past weeks.

    Has the mint again killed the golden goose? Is it 1995 all over again?
    All glory is fleeting.


  • << <i>Does the baseball card industry even exist anymore?

    I have stacks and boxes are cards which are probably worth about what I can get out of them heat wise..... >>



    "Baseball card shops, once roughly 10,000 strong in the United States, have dwindled to about 1,700. A lot of dealers who didn't get out of the game took a beating. "They all put product in their basement and thought it was gonna turn into gold," Alan Rosen, the dealer with the self-bestowed moniker "Mr. Mint," told me. Rosen says one dealer he knows recently struggled to unload a cache of 7,000 Mike Mussina rookie cards. He asked for 25 cents apiece."

    From Dave Jamieson's July 2006 Slate article on the subject. I thought it was interesting.
    Article
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    i think Bear makes a good comment, one that was mentioned when the Gold Buffalos went on sale and scoffed at. to wit: the many items and high priced items offered by the Mint sucked some life out of the modern market and especially from the bulk of the hobby who have disposable coin money at lower levels than is routinely spent by many of this forum, myself included. if you're only able to spend $2k per year on a collection and your focus is mainly moderns or Mint products, this hasn't been an easy year.
  • krankykranky Posts: 8,709 ✭✭✭
    According to this week's CW, buying one of every product from the Mint this year would come to $15,000.

    New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.

  • I am afraid of the Mint making the mistake of producing too many products, but do not think they have approached that level, YET! The issuing of the these special "Collector" editions of Mint State Gold and Platinum coins, and selling them for a premium well over spot, does have me a little worried as some collectors might just throw up their hands and confess that they just can't keep up. However, many, many collectors love these modern precious metal coins and their intrinsic value, and the collector base seems to be growing. While most posters here are not particularly keen with modern coins, the following for them is so strong there is no particular reason to believe the market will crash. Here is why!

    Everyone who collects modern bullion coins by date must have these lower minted coins in order for their sets to be considered complete. Once they have one, chances are they will not be selling it for a long time. And, when they die, many families keep the collection intact for sentimental reasons. All the while, new collectors are entering the hobby and starting year sets from scratch. In my opinion, it is almost certain that new collectors will outnumber those willing to sell. This continual pressure on the limit supply years will force prices up. I’d take one rare date over any quantity of common dates that currently add up to the same value.
  • michaelmichael Posts: 9,524 ✭✭✭
    Is secondary market demand for modern US Mint products softening?

    NO it will only continue to strengthen and also reach new highs...........collectors do not waNT THE OLDER coinage only modern usa mint products and this is what is keeping the market and the slabbing services afloat along with many individual dealers profiting emminsely from all this while offering even stronger buy backs then what they just sold their slabbed ultra high grade mint products for

    it can only get better..... and as an added plus gold and silver are on the rise



  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭


    << <i>...offering even stronger buy backs... >>


    Sounds like the defination of Market Maker. image
  • I bought and sold baseball cards for over 15 years, the second half of this
    year in modern coins has me feeling very strange. feels too much like
    the early 1990's card crash.

    not trying to be negative here but the U.S. mint is destroying the
    golden goose a little bit at a time. the details on the 2007 proof
    sets is just another good example. their pricing is TOTALLY OUT
    TO LUNCH. how many clad proof sets are you going to buy at $45??

  • ttownttown Posts: 4,472 ✭✭✭
    The mint's way over done it. I've stopped buying now that I can't afford to keep current for my collection. We may have some low mintage if most people are like me and only the Ebay pump and dumpers may make a short term profit but for what I'm seeing it isn't a sure thing like it was. I brought a proof SF 5 dollar gold piece for under $200. I stick to my core collections of classic coins now.
  • pf70collectorpf70collector Posts: 6,725 ✭✭✭
    What about the collectors that haven't even entered the market. They will be searching for these past issues I believe. I seriously entered modern coin collecting in 2004 and wish I had done earlier in 1995 when they issued the 1995 W ASE. Or I even knew about the free cherrio sac in 2000. I would have bought some of those cherrio boxes even not knowing what they really were. However I did snap up a lot of sacs in 2000 when they first came out. A lot of missed opportunities. There may be a lot of future modern collectors that don't even have a clue what the 20th Anniversary ASE and AGE sets are about.
  • I guess that's the million dollar question, how many new collectors will
    the pres dollar series bring to the hobby.....
  • RegistryCoinRegistryCoin Posts: 5,117 ✭✭✭✭
    ...and the next series, and the next.
  • 7Jaguars7Jaguars Posts: 7,688 ✭✭✭✭✭
    Another "balloon" thought: those tens of millions of collectors brought to the hobby by the state quarters seem to be of the passive sort and add to the burnout psychology - I could be wrong but they seem to be getting tired and letting sets lapse. How many will try to get all the president dollars?
    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • tincuptincup Posts: 5,329 ✭✭✭✭✭
    I agree there does not seem the be as much steam behind the state quarter issues anymore. Not sure what the reason is... other than the commems and special issues like the 20th just overwhelmed everything else...

    The ASE and AGE 20th issues will be future winners and will not soften (at least not too much) after it settles out some. The reason has already been mentioned.... like it or not, the eagles are collected as a series, and as such, the reverse proof will remain a key. These are a set that will be popular with the generations into the future, and they will collect these instead of collecting series of Franklins or Barbers, etc.
    ----- kj
  • I know a few people collecting state quarters but none of them have spent over 10 dollars on a coin and I doubt they ever will. One reason I got into baseball cards as a kid was because I could afford them. No kid and not that many adults can or will shell out five grand for the gold reverse proof.

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