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Did you buy a 10th Anniversary Gold/Silver Proof Set in 1995?

going going...........

Here's your chance to get one if you missed out. Keep repeating to yourself .... $100 million is nothing.... $100 Million is nothing....


Rest assured this set will sell for far less than $100 Million. So whatever it sells for will be nothing at all. image

Comments

  • paying +5k for a set without inspecting them first is loco image
    you would think there would be detailed photos...
  • fishcookerfishcooker Posts: 3,446 ✭✭

    No clear photo, no paypal, no returns.

    And still $5400 in bids.

    Wow, definitely type 3.....
  • 7over87over8 Posts: 4,733 ✭✭✭
    yep, 2 sets on Dec 31 1995. You were allowed to order until midnight, Dec 31 1995 - and guess what, your order was FILLED.
  • pf70collectorpf70collector Posts: 6,503 ✭✭✭
    I believe there was a total possible mintage of 50,000 sets but only 30, 125 were sold. Those days are over.
    Almost everything offered these days by the mint is sold out. More speculators or more modern collectors? I believe its because of a growing collector base for moderns. Who are the speculators selling to? Surely not other speculators.
  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
    In 1995, I protested with several Letters to the Editor in Coin World the Phillip Diehl's stupidity in issuing that Silver Eagle in a gold set. Until that time, I had bought 15 Proof SAEs every year. In one fell swoop, he destroyed the continuity and collectability in every Silver Eagle collection that couldn't afford his 10th Anniversary Set.

    Diehl could have offered the "W" Proof Silver Eagle separately, but it was his "reward" for Eagle collectors - those were his words. Some reward! His capricious decision was an afront to all of the Silver Eagle collectors who had supported that program for the prior 10 years. Out of frustration and anger, I sold off (almost) all of my Proof Silver Eagles, and I have not bought another one since. Collector, no more.

    Because of the Mint, I stopped collecting Silver Eagles in 1995 and became a speculator. In 2006, they did the same darned thing with gold and platinum. It was like "triple witching hour" this year. If you had the money, there was a virtual grab bag of low mintage goodies that will (probably) blow the socks off of all previous "keys" in each series. The first 20 years of Gold Eagles were simply a warmup for this fleecing.

    As they were in 1995, the Mint's management is so self-absorbed with themselves that they totally ignored the loyalty of all of the Gold Eagle Collectors who bought uncirc and proof Gold Eagles all these years by upping the ante' very significantly, instead of giving them value.

    Anyone who wanted all of this year's gold and platinum eagles had to shell out for 3 extra expensive sets besides the 4 regular 4-coin sets that would constitute a full collection - not easy if you don't have the cash and/or haven't budgeted for the expediture. This doesn't even take into account the new Buffalo Gold, a whole new series! As Beth Diesher pointed out in her Coin World Editorial, the collector cost for the Mint's output approached $15,000 for just one year! Fifteen Grand!!!!!

    This year, I didn't protest - I had the money and jumped in with both feet to take advantage of a very promising speculation. Why buy a set of Proof or Unc Gold Eagles every year, when they only appreciate marginally? Why not wait for the low mintage year and buy heavily? Do I feel guilty about being a speculator now? Nope.

    Here's where the Mint is going very, very wrong. Now, all of the loyal coin collectors who were building sets will pay large premiums for the Gold Reverse Proof and all of the Burnished "W" Gold and Plats. And they will do it, at least for awhile.

    Unfortunately, the Mint is making it so expensive for regular collectors, that there will be serious buyer attrition taking place. The mintages will get lower and lower, while the Mint cranks out more and more varieties, special sets, and new series.

    As the Buffalo Series expands to include proofs and uncs, for all 4 denominations, the Presidential Dollar and Wives program will both eat into collectors' annual purchasing budget allocations. The uncs, and burnished "W" uncs, and the proofs for both gold and platinum will both be produced, too. I predict that both the Gold Eagle and Platinum Eagle Series mintages will continue to drop, as a result. What does that do to the market and to demand?

    As mintages drop and collections are abandoned, you will see value being destroyed. Anyone who trusts the Mint (and/or Congress) to be consistant short of a loud public outcry and a mandate to "cool it", is playing with a loaded gun. It's that simple. Your Reverse Proof Gold Eagle (mintage 10,000) won't be so desirable when the next red herring comes along with a mintage of 5,000 this year, or next.

    The 1995 "W" Proof Silver Eagle might not look so attractive when a 2007 Reverse Burnished Double Proof "D" Silver Eagle is offered next December in a full Mint Set/Proof Set of the entire Year's coinage, having a price tag of $20,000 with a mintage of only 1,120 and you don't find out about it until Numismatic News announces a sellout in their Headline.

    With only 1,120 complete Silver Eagle sets possible, the other 34,000 owners of the 1995 "W" Proof Silver Eagle would see their investment lose some of its luster, and how many of them would throw in the towel permanently, like I did in 1995?

    As more collectors get fed up with this nonsense, the market shrinks. If collectors go away (as they did when the commemorative half market became saturated with too many issues in 1936), the chance of making good in your lifetime is much less, although the next generation might marvel at the amazingly low mintages from this era.

    The Mint will continue to create opportunities, but I have a feeling that it's going to be harder and hardly to identify them. At least this stuff can be sold as bullion. There, I've said my piece, again.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • 7over87over8 Posts: 4,733 ✭✭✭
    jmski52
    i agree with your assessment on what will define true rarity in the coming years if the USM keeps trying to retain interest by offering more limited production products.
    the reverse proof gold this year is thought to be a real keeper - i myself hold some for the long haul, but if next years rarities have only 5,000 avail, then 2,000, then 1,000....what does that say for long term value in the 2006 rev proof?
  • don129don129 Posts: 547 ✭✭✭
    Successful BSTs with adriana, barrytrot, Bochiman, Dabigkahuna, Modern Coin Mart, oilstates2003, terburn88, THEGENERAL
  • don129don129 Posts: 547 ✭✭✭
    Don't know why, I really didn't have the money to blow on this set back in 1995, but I bought one. I recall almost returning it, but never did.

    BOY.... am I glad I kept it! image
    Successful BSTs with adriana, barrytrot, Bochiman, Dabigkahuna, Modern Coin Mart, oilstates2003, terburn88, THEGENERAL
  • jmski52jmski52 Posts: 22,305 ✭✭✭✭✭
    Yeah Don, I know. I wanted to buy a few of the sets in '95, but I finally landed on the side of the principal that I was protesting, and I didn't buy. I watched the set go up and up, and I was happy for the folks who own the sets now.

    My point is that the Mint can be very capricious, and they must be watched very closely. If you collect moderns, you must be careful how you spend your money, so that the money you spend provides you some gratification in owning a nice collection, but also so that your money isn't deployed in areas that will stagnate for years (and years) (and years).

    Side Comment, relevant to the topic - I just bought a grouping 1982 Proof Washington Halves for just over their bullion content. I always liked the design, but my recent purchase was about 40% of what the coins cost originally from the Mint.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.

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