ASE Set Follow-Up Question (As of 5/8/2006): How Many Would Purchase today at $450?
ChuckC
Posts: 1,600
Think these are going to break $500? $600? $700? What's your opinion?
Edited: modified thread title.
Edited: modified thread title.
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ChuckC
Posts: 1,600
Comments
Drunner
You will never go broke, taking a profit.
It will be interesting to see what these stabilize at.
<< <i>I'm less interested now than I was at the time of issue. Bought none then, will buy none now - nothing wrong with making a profit, and congrats to those who did so, but cash flow issues at the time prevented me from participating. >>
I could only afford one set at the time. I'm glad I bought it but I would have bought 10 if I could have. Oh well, at least I have one to sit on and see what happens. As for buying at $450, I don't think I would jump on that.
Now if I were an ASE collector, and I missed out, and had waited for them to decline back below $200, I might cave in and buy at $450.
<< <i>I would not. Of course this factors in the fact that I did buy at $100.
Now if I were an ASE collector, and I missed out, and had waited for them to decline back below $200, I might cave in and buy at $450. >>
Definately....I learned my lesson when I had the chance to purchase a 1995-W ASE for $600 back in 2001. I would not make that same mistake again .... The ASE's are the "hottest" collectibles in the World....
<< <i>The ASE's are the "hottest" collectibles in the World.... >>
And the Reverse Proofs may be the most beautiful of ASEs.
With all the mania I did JUST but 2 sets at $380 so we will see.
I doubt I will lose money, but I am hoping to gain.
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>If I didn't own 11 sets, basically for free since I sold 9 sets for 300 per, I would buy at least one set at $450 to keep. These sets will go much higher than that over the years. >>
I bought 18 sets...had 5 sets certified by pcgs...sold all for a nice fat profit, but kept 2 First Strike sets...one 69 set & 1 perfect set...Gonna hold on to the 69 FS until the price reaches $800+ ( Its now selling around $750 on the Bay.) I've got no plans to sell the 69,70,70 FS set. .....
How high? I'd like to think $750 for a clean set
I'd concentrate on the key coin now....the RP
<< <i>I don't like the high stakes gamble! >>
No gamble if you paid $100 when issued....These sets will never see $100 price again.....
<< <i>
<< <i>I don't like the high stakes gamble! >>
No gamble if you paid $100 when issued....These sets will never see $100 price again..... >>
I am hoping the empty boxes and coas see $100 someday. LOL
<< <i>
<< <i>
<< <i>I don't like the high stakes gamble! >>
No gamble if you paid $100 when issued....These sets will never see $100 price again..... >>
I am hoping the empty boxes and coas see $100 someday. LOL >>
They just might.....there's only 250k of 'em!
<< <i>Ive had over 150 sets and they still dont cease to amaze me. I see 750 by summer, and summer isnt too far away. cases have climbed over $1000 just in the last 10 days. >>
Yep, 6k the other day. and with NGC 70 sets going 1500+ I can see why.
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<< <i>
<< <i>I don't like the high stakes gamble! >>
No gamble if you paid $100 when issued....These sets will never see $100 price again..... >>
I am hoping the empty boxes and coas see $100 someday. LOL >>
Yeah, I have a few of those too
Gave one to my mom, with a regular proof, and she loved it, but I still have about 5 or 6 empty sets left (with the capsules
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I got mine at mint pricing which was already high. The only coin I care about in the set is the reverse proof. I do not have a registry set so I don't really care about the other two.
But if a person purchases at today's price... how much can the upward potential be? and with how much risk? I think they are capable of a 50% gain yet with not too much trouble.... but not very confident of more than that.
I'm saving my money to throw away at some more new US Mint offerings!!! LOL......
Hell, I may sell my one and only set.
<< <i>I would buy ZERO at that price. >>
If you don't sell them @ $450 isn't it the same as buying them at $450.
You are still risking your $450 (although $350 of it is yet unrealized profit) that you could have by selling them now.
If they drop to $350 you lose $100 (of your profit which may be easier to justify but still lost).
I too think they have a way to go $700 pretty soon.
Rookie Joe
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<< <i>I would buy ZERO at that price. >>
If you don't sell them @ $450 isn't it the same as buying them at $450.
You are still risking your $450 (although $350 of it is yet unrealized profit) that you could have by selling them now.
If they drop to $350 you lose $100 (of your profit which may be easier to justify but still lost).
I too think they have a way to go $700 pretty soon.
Rookie Joe >>
Not the same thing. I don't think the downside is much at all... I am confindent that they will hold the price they are at and probably still make some.
The difference... is the amount of my invested money that is at risk. Right now, I have $100 per set at risk. The rest is pure gravy. But, if I purchase the sets at today's price..... well, it is obvious that now I have much more at risk. And probably not for much gain percentage wise. Maybe 50%... maybe more.... who knows? I am not willing to chance that. The $450 it would cost per set would be better to purchase one of the UNC First Lady golds, which I think will have a more sure gain, but at this time it is unknown how much.
JMHO.... As always, it is a guessing game.
If you are a collector and already have them then you are not that interested in future price movements and your risk is easily justified because you aren't interested in selling.
If you are an investor then you are very interested in future price moves and your risk is real and less easy to justify.
IMHO
Rookie Joe
I am holding mine and if I was able I might buy more. Just bought a NGC 69/70/69 set a couple of weeks ago.
I have 2 left and plan to keep one, and they are a nice looking set. I will sit on the last foe the summere run up.
I have to agree with the others, that the upside doesn't seem as great at 400-450.
( But I think I said the same about 99 silver proof sets at 200
A witty saying proves nothing- Voltaire (1694 - 1778)
An error does not become truth by reason of multiplied propagation, nor
does the truth become error because nobody will see it. -Mohandas K. Gandhi (1869-1948)
I missed this set, but will not chase it.
I have always regretted buying in a frenzy.
I think the price is justified because it's what the market will pay, but it reminds me of the 1999 silver proof set. If it weren't for the fact I got two from the mint, I'd never own one 'cause it's just too much money.
but not enough to gamble on it.
Like a lot of folks, I wonder about what else the buyers of these sets at $450 bought in the past, and are buying now. I have to imagine it is not the best of stuff. They had an entire three months to order from the mint at $100. Another three months after the sell out, to buy for less than $200. One has to wonder why they are buying now. That mailing list would be worth a small fortune to certain salespeople.
What do folks imagine, that these are mostly first time buyers? Or folks adding to their hoard? This doesn't seem likely, because no one on this thread mentioned buying any recently. Maybe most of the demand is from three guys in a room somewhere trying to corner the market
Did the US Mint ever do TV commercials for these?
<< <i>Does that depend on whether you are a collector or investor? >>
More a collector now than when I bought ten last year. (And tried, unsuccessfully, to buy another ten -- and thus ended up with zero sets for myself.) I just bought a NGC69/69/69 set sight unseen for $385 because I thought I'd sell the black label proof and unc just to keep the reverse -- of course, I decided not to sell once I got them in hand.
Then I saw that my local shop had two open sets at $400 each. I found that the rp in one set looked a lot better than the other, so I bought one. ("How much for both?" I chirped, but the owner stayed firm.) I'll buy a bunch more at that price if I can view them in hand first. I don't see much of a downside possible, at least not much more than $100 a set.
As it becomes obvious that the reverse was a one-time event (assuming that's the case), and the 2007 unc sells over 500k (assuming that's the case), this set will easily go higher. Will it stay there? I dunno. The 1995-w is at insane levels, but I believe it's on the order of one-tenth the RP mintage.
One other note -- I shopped PCGS PR70 RPs on the bay today and was shocked to see that they're going for about $800 but the First Strikes are going for $2200. That is crazy and that will not last. At least I hope it doesn't -- what damn difference should it make what month a limited-mintage proof coin was shipped?
Box of 20
<< <i>I do not believe that a coin with 250,000 minted will hit $600, $800 or $1000 per coin soon. >>
What did you think it would hit?
Did you think it would hit the prices it has?
PR68 RP is going for $250 on ebay (PCGS)
The PR69 RP are going for a tad more.
Raw, it is probably a $200 coin.
First strike, it is a bit more than $400+, right?
PR70 RP is a $1000+ coin (at least, in 1st strike, right?).
The MS is 470,000 strong in mintage and that is $80-$100 raw, right?
You may be surprised by these....doesn't matter how many minted, it matters the DEMAND!
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
<< <i>
<< <i>I do not believe that a coin with 250,000 minted will hit $600, $800 or $1000 per coin soon. >>
What did you think it would hit?
Did you think it would hit the prices it has?
PR68 RP is going for $250 on ebay (PCGS)
The PR69 RP are going for a tad more.
Raw, it is probably a $200 coin.
First strike, it is a bit more than $400+, right?
PR70 RP is a $1000+ coin (at least, in 1st strike, right?).
The MS is 470,000 strong in mintage and that is $80-$100 raw, right?
You may be surprised by these....doesn't matter how many minted, it matters the DEMAND! >>
You mean this First Strike..............Try around $ 2500. I wouldnt take a penny less for it.....but thats just me
I'd be weary of buying them sight unseen as well because it's been reported that the onset of spotting can be initially seen under certain lighting conditions (UV?) but not white light.