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2007 Adams First Day Cover close to a sellout!
renman95
Posts: 7,037 ✭✭✭✭✭
Even with the imposed 10 Cover limit for 30 days imposed by the Mint, the Adams FDC have sold 33,907 of 50,000 (according to NN). I find that rather surprising. There were customers that bought thousands of the G. Washington Covers and hence the 8-day sellout. But, at a 10 cover limit, there are a lot of collectors/speculators out there...more than I thought.
I want to get 10 more after 30 days but it might sell out by then.
Ren
I want to get 10 more after 30 days but it might sell out by then.
Ren
0
Comments
<< <i>I've got mine in hand. >>
Really? Mine finally went into "In Stock" today.
SM
SPMC - J-12338
McDCCC - Charter Member
Announcing: The Numismatic Enquirer - Website
<< <i>Anyone recall what day these went on sale? >>
June 12th.
SM
SPMC - J-12338
McDCCC - Charter Member
Announcing: The Numismatic Enquirer - Website
<< <i>the Adams FDC have sold 33,907 of 50,000 (according to NN) >>
Is that really "close"?
Is it this close <===>
or this close <=====================================>?
<< <i>
<< <i>the Adams FDC have sold 33,907 of 50,000 (according to NN) >>
Is that really "close"?
Is it this close <===>
or this close <=====================================>? >>
It's more close than not.
Ren
<< <i>Even if they double in price it isn't worth the bother to sell ten on eBay. >>
Mmmm lets see....10x15=$150 profit & no hard labor for maybee 10 - 15 minutes of total work involved. .I can live with that
Yeah but taxes take 25% of that.
FloridaBill
<< <i>Even if they double in price it isn't worth the bother to sell ten on eBay >>
<< <i>Mmmm lets see....10x15=$150 profit & no hard labor for maybee 10 - 15 minutes of total work involved. .I can live with that >>
<< <i>Yeah but taxes take 25% of that >>
Ordering takes about three minutes, unpacking, photographing, and listing on eBay takes about seven minutes, packing, printing out labels, and dropping off at the post office takes about ten minutes (assuming you swing by the PO to drop off the package on your way to or from another destination). Total time: 20 minutes. Assuming the coins double (which is the condition set by GAT):
10 x $15 (profit) = $150 - $8.70 (PayPal fees) - $14 (eBay listing & FVF) = $127.30 net profit - 25% taxes = $95.48 for twenty minutes of work. That's $286.43 per hour, or an annualized return of $595,764 per year. (In which case, taxes are closer to 50%, meaning an after-tax annualized return of "only" $397,176).
Yep, definitely "not worth the bother!"
Adams Ebay
They are in stock with the cancel box gone.
As for orders going through, they are probably looking to dump these. Don't want any inventory.
The ebay price could surprise, with a wider distribution, there might be less sellers. Just guessing.
As for the work, I had 100 Washingtons, sold about 80. It's a lot of work. I sold most for $29, prices are higher now, but I also sold some for $20, that was a waste of my time and not worth it.
<< <i>
<< <i>I placed "several" orders of 10....they all were shipped today....Mint wasn't very serious about limiting flippers!
FloridaBill >>
Were you able to get 4% of them? >>
how about .004? FLBill .. what's your take on the upcoming Jefferson & Madison FDCC's?
San Diego, CA
<< <i>I placed "several" orders of 10....they all were shipped today....Mint wasn't very serious about limiting flippers!
FloridaBill >>
Thanks Fb
I just ordered 10 more.
Ren
<< <i>Ordering takes about three minutes, unpacking, photographing, and listing on eBay takes about seven minutes, packing, printing out labels, and dropping off at the post office takes about ten minutes (assuming you swing by the PO to drop off the package on your way to or from another destination). Total time: 20 minutes. Assuming the coins double (which is the condition set by GAT): >>
I understand your point but your time estimates are grossly underestimated to support your POV and the whole thing is also based on speculation that may or may not materialize.
Packing, printing out labels, and dropping off at the post office takes about ten minutes? Maybe if you live across the street from the Post Office, and don't forget the fact there is ALWAYS lines at the Post Office, but I'm sure you'll mention a time of day when you go when there is never a line. You are also failing to factor in fuel. Whether or not you drive on your way to some other chore, it is still an expense you are conveniently leaving out.
I like your annualized return figure of over a half million dollars. That was cute. You could buy the entire issue with those profits. What are you waiting for? Oh that's right, the order limit.
<< <i>Ordering takes about three minutes, unpacking, photographing, and listing on eBay takes about seven minutes, packing, printing out labels, and dropping off at the post office takes about ten minutes (assuming you swing by the PO to drop off the package on your way to or from another destination). Total time: 20 minutes. Assuming the coins double (which is the condition set by GAT):
10 x $15 (profit) = $150 - $8.70 (PayPal fees) - $14 (eBay listing & FVF) = $127.30 net profit - 25% taxes = $95.48 for twenty minutes of work. That's $286.43 per hour, or an annualized return of $595,764 per year. (In which case, taxes are closer to 50%, meaning an after-tax annualized return of "only" $397,176).
Yep, definitely "not worth the bother!" >>
I see the flaw in your calculations (in the assumption of going to the post office) - you can't seriously be planning to go to "another desigination" 5 times every hour, 24 hours a day?
... otherwise everything else seems fine.
<< <i>When did you place your subscription order ? >>
06/11
Box of 20
<< <i>Even with the imposed 10 Cover limit for 30 days imposed by the Mint, the Adams FDC have sold 33,907 of 50,000 (according to NN). I find that rather surprising. There were customers that bought thousands of the G. Washington Covers and hence the 8-day sellout. But, at a 10 cover limit, there are a lot of collectors/speculators out there...more than I thought.
I want to get 10 more after 30 days but it might sell out by then.
Ren >>
I haven't received my 7/03 NN copy yet, does anyone know what date the sales figures were obtained from the mint. I's usually in the small print. Depending how old the NN sales figures are we could be getting lose to a sellout.
<< <i>Packing, printing out labels, and dropping off at the post office takes about ten minutes? >>
Yep. You take your unopened Mint box of ten (no need to repack anything), weigh it, then go to PayPal, log in, fill in three blanks, and print out a shipping label. Then you begin the very difficult process of attaching the label to the package. It usually goes like this: pull the backing off the label, center the label on the box, then press down and the self-adhesive label sticks to the package. Wow. Total time taken so far?
Packing: zero minutes
Printing out shipping label: two minutes
Affixing shipping label to package: 15 seconds
<< <i>Maybe if you live across the street from the Post Office, and don't forget the fact there is ALWAYS lines at the Post Office >>
The post office is five minutes from my work, or eight minutes from my home (depending on which one I want to go to). I walk directly to the clerk, show her that the package already has a pre-paid shipping label on it, leave it on the counter, and walk out. Detailed breakdown:
I'm on my way home, so I exit off I-20, proceed 200 feet, turn right, proceed a quarter mile, turn right (into the PO parking lot). Total time: two minutes
I walk into the post office, say "Hey Charlie, you have my spot ready?" (The spot on the counter where I set my outgoing packages every day), then walk back to my car. Total time: 90 seconds
I then turn right, proceed 300 feet, and turn left onto I-20's entrance ramp. Total time: 90 seconds.
Thus we have my total time packing (already packed by the Mint), printing postage and affixing it to package, driving a nominal distance out of my way to reach the post office, and dropping off the package: 9 minutes.
<< <i>You are also failing to factor in fuel. Whether or not you drive on your way to some other chore, it is still an expense you are conveniently leaving out. >>
Every day I drive my car exactly 32 miles to get to work. I get 22.4 MPG. Thus, every day I spend $3.91 (gas is $2.74 here) going to and from work. Driving by the post office, on my way home, adds approximately half a mile to the total length of my drive. Thus I end up spending $3.98 for a days' driving, rather than $3.91. You are right--go ahead and deduct another $.08 per day from my projection. That will lower my annualized figure by $21.
<< <i>I like your annualized return figure of over a half million dollars. That was cute. >>
Thanks. I guess you don't do too much investing, because if you did, you'd know that the yield on short-term investments (such as short-term securities) is almost always expressed on an annualized basis. Showing a 5% annualized yield on a 7-day CD is a lot more useful than showing a .000096% seven-day return on principal. Likewise, the quarterly profits of a business are usually annualized in order to make more meaningful comparisons.
The purpose of showing an annualized return is to compare "apples to apples." Since most people report their income on the basis of dollars per year (as opposed to dollars every twenty minutes of work), I annualized my return to make my point more clear. Obviously, I am not trying to argue that you can sell John Adams FDCCs is not something you can do 40 hours a week, 52 weeks a year. My point was to convert the "dollars per twenty minutes" figure into a more useful figure, for comparative purposes. Presumably, most people are more familiar with how much they are paid (on an annualized basis) than how much they are paid every twenty minutes.
By agreeing to a certain wage, you are setting a certain value to your time. My question to you is this: In your occupation, do you make more than $127.30 (pre-tax) per twenty minutes of work? If so, then buying and reselling ten FDCCs (that double in value) is not worth your time. If you make less than $127.30 every twenty minutes, then it is worth your time. And yes, $127.30 per twenty minutes is a rate equivalent to $381.90 per hour or $794,352 per year (before taxes).
<< <i>I ordered 10 sets earlier and just ordered 10 more and they accepted it.
Likewise, but it's on back order for 7/12 which would make it 30 days from the initial offering date...MMMMMmmm
San Diego, CA
<< <i>
<< <i>I ordered 10 sets earlier and just ordered 10 more and they accepted it.
Likewise, but it's on back order for 7/12 which would make it 30 days from the initial offering date...MMMMMmmm >>
I just place 10 orders of 10 and the date is jun 25 2007
2007 JOHN ADAMS PRESIDENTIAL $1 FDCC 10 $14.95 $149.50 10 units backordered. Expected to ship on 06/25/2007.
Keith
<< <i>
<< <i>
<< <i>I ordered 10 sets earlier and just ordered 10 more and they accepted it.
Likewise, but it's on back order for 7/12 which would make it 30 days from the initial offering date...MMMMMmmm >>
I just place 10 orders of 10 and the date is jun 25 2007
2007 JOHN ADAMS PRESIDENTIAL $1 FDCC 10 $14.95 $149.50 10 units backordered. Expected to ship on 06/25/2007.
Keith
That will change in a day or so....
<< <i>
<< <i>I ordered 10 sets earlier and just ordered 10 more and they accepted it.
Likewise, but it's on back order for 7/12 which would make it 30 days from the initial offering date...MMMMMmmm >>
My second order just got cancelled...bummer
San Diego, CA
<< <i>It does take a day or so for them to cancel the dup. orders.
Sure appears that way. Makes me feel better, knowing that the threads about how to circumvent the Mints order limits are mostly "BS"....
<< <i>
<< <i>It does take a day or so for them to cancel the dup. orders.
Sure appears that way. Makes me feel better, knowing that the threads about how to circumvented the Mints order limits are mostly "BS"....
I'll believe it when I can do it myself.
San Diego, CA
<< <i>Makes me feel better, knowing that the threads about how to circumvent the Mints order limits are mostly "BS" >>
All ordered at the same time, to the same address, with the same credit card....
FloridaBill
FloridaBill
EDIT....found it...
<< <i>OK, How do I post an image? Thanks
FloridaBill
EDIT....found it... >>
Wow....congrats...some people are just born lucky...
<< <i> Alright, I'll bite. How'd you do that? Do you have a dealer account with the mint or something like that? >>
Actually, I think it was a fluke. They were all ordered within 1 hour, all to ME, at MY address, all with the SAME credit card. I never received an email order confirmation on ANY of these orders, but they were always viewable in "my orders".
As far as the "large family" and "extended buying network"....they weren't used here, this was just me...but that will ALL kick in BIG TIME for the TJs.
FloridaBill
Do you think they will boost the mintage of the covers for TJ?
<< <i>Sounds like you put in your orders at just the right time.
Do you think they will boost the mintage of the covers for TJ? >>
I don't, being JA hasen't sold out yet. I would sign up for the subscription to get them early. I didn't and despite ordering at Noon when they went on sale, don't have them yet. People with subscriptions already received their's.
<< <i>
<< <i>I placed "several" orders of 10....they all were shipped today....Mint wasn't very serious about limiting flippers!
FloridaBill >>
Thanks Fb
I just ordered 10 more.
Ren >>
My order for 10 more was cancelled, "line cancelled."
Florida Bill, are you Irish?
Ren
<< <i>All ordered at the same time, to the same address, with the same credit card.... >>
Why were they shipped DHL instead of FED-EX> Orders of $300 or more are upgraded to fed-ex shipping. Were these 9 seperate orders?