What went wrong with the Jefferson first spouse coin?
notlogical
Posts: 2,235 ✭
I know a lot of people here thought they were going to be killer. I talked to a couple dealers here locally who thought the same thing. So what happened? Why didn't it increase in value or is it going to but, it's more of a tortoise instead of a hare kind of thing? Curious YN minds like to know.
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... "Fascinating, but not logical"
"Live long and prosper"
My "How I Started" columns
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Comments
<< <i>More sellers than buyers. >>
Yup... they have a small mintage, but it seems that there aren't enough people that want the coin for demand to really push this coin. I believe these have a smaller mintage than the 95-W Silver Eagle... but then, there's a huge demand for Proof Silver Eagles in general that drives the price.
It's also like when you look at some of the Darkside coins. There's some beautiful coins with low mintages... but it doesn't matter much if there's 100 coins minted when only 50 people want to own one.
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More people who wanted these got these directly from the Mint because of the Mint's regulations of only 1 each per household. As with the MW's and AA's, people bought 'em by the droves, and people paid well over Mint price for them because they couldn't order one from the Mint due to sellout.
Broader Even Distribution = lower market price.
Too many positive BST transactions with too many members to list.
A lot more collectors did seem to want it. With the 1 per customer (per type), I think more of those collectors were able to get them.
In addition, after watching the quick sellout from the early issues, I think people didn't hesitate (like they did on the first 2 since they thought they would be available for quite awhile).
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
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then ask yourself how many people even know about this series, let alone the Prezy dollars.
the demand would be much greater if more common folk knew about these, maybe in a few years it will command some acceptable premium over melt.
if you have the funds and want to get into something these would be the ones to get a hold of for a long term and not flipping
agree with the poster above.....hang on to 'em if you can!...and....
Box of 20
Box of 20
San Diego, CA
1. series is too long for collectors to maintain interest;
2. product is too expensive for most collectors to buy and hold;
3. impossible to display even at coin shows;
4. virtually no post sale interest except for bullion value;
5. large percent of collector base will turnover due to 10-year length of program;
6. other commemorative programs compete for the same limited dollars;
7. batteries not included….
All of this looks like the American Arts medals issued a few decades ago. Interesting designs, nice medals, culturally important subjects, but good for bullion only, for the same reasons as above.
you just have to wait and be ready. ASE 20th set peaked and fell dramatically in the early summer. who knows when these will pick up.
some good indicators are the low mintage, beautiful design thats only used ONCE in the series, potential collectibilty with the liberty subset.
the mint did an amazing job reversing the tulip mania by releasing these all at once. as a result they have stunted the market and now IS good time to buy whatever you can afford. they did us a favor but it hasnt been realized yet. too many flippers are upset.
Sure, it was a great design and a lot of folks were really jazzed about it but if the supply exceeds the demand then the prices stabilize rather quickly. The hot market created for the first two designs was created solely by the flippers who were able to corner the availablility of the coins via huge web orders. When the mint put the halt to that, there was no market left.
The name is LEE!
But with First Strikes in abundance (and as regards the Jefferson spouse and others what does it really mean - wasn't every last one minted initially eligible for First Strike?)
I predict this series will see some pieces with mintages in the low four figures. Those are the ones that will have some potential.
WH
Wondercoin
<< <i>As I have said a few times before, nothing went wrong for those folks who sold their coins upon receipt from the mint for 19%+ return. In fact, things went pretty well. Those who got "greedy" lost on this one - right? it is as simple as that.
Wondercoin >>
Or lazy like me, I kept putting it off and have not done anything with my extras yet.
Camelot
Box of 20
I still think that we will be seeing rising prices through the end of the year. Gold has almost caught up to the mint release price, and Christmas should help the demand. The Dolly Madison release may spark people's interest as they will want to complete the '07 set of 4.
Camelot
<< <i>
<< <i>More sellers than buyers. >>
Yup... they have a small mintage, but it seems that there aren't enough people that want the coin for demand to really push this coin. I believe these have a smaller mintage than the 95-W Silver Eagle... but then, there's a huge demand for Proof Silver Eagles in general that drives the price.
It's also like when you look at some of the Darkside coins. There's some beautiful coins with low mintages... but it doesn't matter much if there's 100 coins minted when only 50 people want to own one. >>
look at some of the early 1900 double eagles - you would think that these coins with low mintages would command a higher price - go figure??
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i> The real question is not what happened to the Jefferson but what happened to the Washington and Adams. The Jefferson did exactly what it should have done based on the mintage, interest, etc. >>
I think the Mint's decision to impose such strict limitations on this particular offering caused a LOT less fanfare in the "general public" sector that buys the *hot* items pushed on HSN, QVC, etc... thus drastically reducing the *pseudo-collector* demand.
After all, if a typical "gotta get it now" buyer sees a *hot* item hyped on TV for say $1800... and the can buy it on eBay for "only" $1400, well then, that's a *deal* ~
appreciate over time, but it seems premature to assess their value so early in their cycle.
<< <i>I have voided the First Strike option by opening the mint shipping box last week.
But with First Strikes in abundance (and as regards the Jefferson spouse and others what does it really mean - wasn't every last one minted initially eligible for First Strike?) >>
first strike might not so important with this coin specifically. but if someone wants to build a matching set of first strikes it will be. the premium will only get stronger
Incidentally, like all of my first spouse coins... they're in the original mint packaging.
"Buying Jefferon's Liberty $10 Gold Spouse. Only want PCGS FirstStrikes.
PR69 DC FirstStrike - Pay $510
MS69 FirstStrike - Pay $475
PR70 DC FirstStrike - Pay $850
MS70 FirstStrike - Pay $725
Will also buy SEALED boxes of Jefferson's Liberty. Offer when you call.
Please call Jay with any of these coins you have for sale.
(800) 362-9004 x335
Also in need of a 1993-P $25 Gold Eagle NGC PF70 UC. Please offer if you have one. Thanks a bunch!
-------------------------
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<< <i>but if someone wants to build a matching set of first strikes it will be. >>
If someone collected First Stikes, doesn't that mean the are buying the plastic? I'm not sure I know the value in First Strike other than someone getting the coin to the service before the deadline. This isn't to say I don't see the value in grading services, I just don't see the value in the FS designation. Learn me please.
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<< <i>Time will tell my children. >>
It ALWAYS does. Actually the Mint got out its bulldozer and levelled the playing field.
<< <i>From my perspective, absolutely nothing went wrong with them. Speculators speculate. Flippers flip. Collectors collect. I have one in uncirculated condition and one in proof strike. To my knowledge, only gold has changed in the market. The coins are still collector's items. They weren't intended for anything else.
Incidently, like all of my first spouse coins... they're in the original mint packaging. >>
I bought one proof and it will remain in the original mint packaging as well. Only one just 'cause I liked the coin. It is perfect as well, and I've no doubt it would grade 70 if I sent it in, but the thought was to leave it alone in it's original packaging, so someday maybe when my grandkids get it, there will be a much smaller number as original as so many were slabbed that it will be worth something strictly on the basis of the coins quality and originality.
The name is LEE!
Collectors had access to the offering and they got what they needed and aren't griping. These had flipper bait written all over them, especially after we saw the greed feed from the MW and AA. The US Mint was made keenly aware of the situation. The TJ coins have only been out for a couple of months and collectors are certainly not going to be griping about the lack of price appreciation in so short a period so the rest of the story is pretty obvious.
Of the 40,000 coins minted, weren't almost all shipped within 30 days of the offering? So if I got this right, the only thing differentiating my first strike vs. a real First Strike is the Fee to get the label. Is this thing on?
to turn them over. Just keep looking at the
obverse and you will be OK.
Camelot
<< <i>With the Jefferson, just remember never
to turn them over. Just keep looking at the
obverse and you will be OK. >>
... That's a fact, bear. A funny fact, but true.
<< <i>Are these worth sending off to PCGS for the grades? >>
At this point probably not unless you can get 70s.