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Thanks to John Nanney's Discovery, 2008 ASE's with 2007 reverse going through the roof

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  • So fellows where do we go from here? Like what happens next? When will the price increase on these babies? image
  • pitbosspitboss Posts: 8,643 ✭✭✭
    Probably Nov/Dec
  • 6Sigma6Sigma Posts: 96 ✭✭


    << <i>I would add this. I think there are senior coin hobbists and then there are senior hoarders or savers. I think the former enjoy looking at the coins and keep up with the particulars of the hobby. The hoarders are those grannies amd grampas that collect bits of silver or gold every year to use in case of emergencies and to pass to the children or grandchildren and they just know it is silver or gold and nothing else. I could see them open the box-check to see if the order is correct-then to the safety box it goes not to be seen again for years. >>



    Yes, I'm sure there are hoarders, but for approximately 25,000 (54% of the unaccounted coins) to be held by this group and then presuming these people placed their orders and received their 2007 reverse coins in the narrow time period in which they were available just seems to be statistically impossible.
  • SUMORADASUMORADA Posts: 4,797
    Well, when John Nanney discovered these we like a lot of folks ordered as many as we could afford from the mint, between the 4 of us we scored (761) 2008 W REV. of 07,
    Like most everyone we got ours in a 7-10 day period ending the first week of May.

    All but 20-25 were graded ATS,( the others were sold raw) of those a little better then 50% were 70's, we all sold at different levels over the last 4 months,
    ( about 75% were sold outside of ebay)

    for what its worth, even though we all did very well,

    I wish that I would have held on to 30-50 for a rainy day, this is just my opinion, I'm out of the game now...and very grateful to have had
    the amount I did,

    John Nanney...YOU STILL SUCK!..thank you!

    My advice on these after everything that we have seen in the last couple months is to hold what you can afford to hold for the long term and only sell if and when you need
    too financially.

    It's only an opinion.....nothing more.

    Good luck with whatever you decide.................what a world image
  • 19Lyds19Lyds Posts: 26,490 ✭✭✭✭


    << <i>When will the price increase on these babies? image >>



    I would not hold my breath as the prices may stay where they are indefinitely.

    Hopefully, the US Mint will not produce some other oddity around the Nov/Dec time frame because IF they do, then folks will quickly pour money after that and not the 08/07 coins. Low mintage levels or not, this coin has seen substantial interest which is now waning. It has enjoyed quite a bit of publicity and has traded for some serious money. For this reason, this will be a long term speculation.

    If it sits at current levels, you lose as your money would have been better tied up in something else.

    If it goes down, you lose.

    If it goes up then you'll win but your looking at a 1 in 3 chance it will go up. My experience says it won;t and I wouldn't mind being wrong in this case.

    As for the increased activity in Nov/Dec, there may be increased activity as far as sales goes, but that doesn;t mean they will go up in price. More will simply sell.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • AkbeezAkbeez Posts: 2,694 ✭✭✭✭✭
    SUMORADA --

    761 hits with these? That's a new statistic...



    I do not agree with the mystique of the 25,000 so-called missing coins.

    They are in the hands of many. This is a big country. Some know, some do not. Sumorada's example demonstrates this perfectly.

    They are only one of many dealers who bought quantities -- we will never know how many, but they are OUT THERE.

    Consider this: they were bought for $24.95 each. If you scored 1000 of these -- that is only a $24,950 investment. For a big dealer that is nothing.

    NOW, look at the potential resale. 1000 coins = $500G's. What if they wait until the price hits $700 each? Easily could happen this fall. The return is huge. Why jump?


    YET -- this is not over with the Annual sets either. You may find a few lurking in the stacks -- may not show up for weeks. I personally hope not, since that will precipitate a rush never before seen at the mint.

    As much as I believe the Mint has better things to do, the fallout of a sudden release of VERY VALUABLE coins will not bode well for the Mint. They will be flooded, and that's fine for the few "hits", but the reject returns

    will cripple them.

    ********** Just my humble opinion. AK
    Refs: MCM,Fivecents,Julio,Robman,Endzone,Coiny,Agentjim007,Musky1011,holeinone1972,Tdec1000,Type2,bumanchu, Metalsman,Wondercoin,Pitboss,Tomohawk,carew4me,segoja,thebigeng,jlc_coin,mbogoman,sportsmod,dragon,tychojoe,Schmitz7,claychaser, Bullsitter, robeck, Nickpatton, jwitten, and many OTHERS


  • << <i>If it sits at current levels, you lose as your money would have been better tied up in something else. >>





    << <i>If it goes down, you lose >>



    If it goes up a little.....that's good

    If it goes up a lot.....that's better

    If it goes through the roof.....That's great!!!


    There.....I just doubled my odds to 60% image
  • JohnMabenJohnMaben Posts: 957 ✭✭✭
    It isn't just seniors that don't check their coins. You guys are all collectors, most view yourselves as numismatists. The vast majority that purchase on a regular basis from the mint are not serious collectors and certainly are not numismatists. They also are of varying ages. Many never open the boxes. Some do glance, and then in the closet or bank they go. They don't know a PCGS from a CoinWorld from a CU Forum, and don't care. In dealing with dealers and the public full time for 30 years, I can tell you, this is the reality.

    John

    John Maben
    Pegasus Coin and Jewelry (Brick and Mortar)
    ANA LM, PNG, APMD, FUN, Etc
    800-381-2646

  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    John, you "hit the nail on the head." The missing coins are out there and in time will re-appear. (probably with milk spots)
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>Well it looks like none of the Dollar Coin sets contain the 07 reverse !! the question now is did the mint recover any of these coins before they shipped. if so, what will they do with them?


    image >>



    Please explain why the mint would have made these sets up and let them sit around unsold for months which would have been the case if the sets were made with the error/variety ASE coins?
    theknowitalltroll;
  • CoinspongeCoinsponge Posts: 3,927 ✭✭✭
    Hopefully, the US Mint will not produce some other oddity around the Nov/Dec time frame because IF they do, then folks will quickly pour money after that and not the 08/07 coins. Low mintage levels or not, this coin has seen substantial interest which is now waning. It has enjoyed quite a bit of publicity and has traded for some serious money. For this reason, this will be a long term speculation.

    If it sits at current levels, you lose as your money would have been better tied up in something else.



    About the publicity- I tend to think that it HAS NOT really received much publicity. It seems that NN hardly addressed the coin. Of course they mentioned it but seems like follow up by the editors of that publication was light. Now some of the tv retailers were selling them but that was limited also. I suspect that when the red book and other coin guides start including it then it's popularity could find more support. This is not a bad long term hold in my opinion.
    Gold and silver are valuable but wisdom is priceless.
  • smokincoinsmokincoin Posts: 2,636 ✭✭✭
    What happened to Tony?image
    edited in his honor.image
  • 6Sigma6Sigma Posts: 96 ✭✭
    Wonder what the likelihood will be of the 2008 with 2007 reverse ASE getting added to Coin World’s Coin Values?

    Edit: Went ahead and submitted this question to Coin World. Their response (if I received one) will be posted.

  • bestdaybestday Posts: 4,239 ✭✭✭✭


    << <i>

    << <i>Well it looks like none of the Dollar Coin sets contain the 07 reverse !! the question now is did the mint recover any of these coins before they shipped. if so, what will they do with them?


    image >>

    I really doubt, at this point, that the mint went through these coins. I feel now that the remainder are out there in grandma & grandpa's closet for the next 5 or 10 years and will trickle out slowly. >>



    Eight .nine ,ten year olds knew about the 2008/07s and have looked thru their father's 's 2008 eagles.. the word about these eagles has spread wide and far
  • These coins are a long term hold.The flippers will be at work for some time yet.
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>

    << <i>

    << <i>Well it looks like none of the Dollar Coin sets contain the 07 reverse !! the question now is did the mint recover any of these coins before they shipped. if so, what will they do with them?


    image >>

    I really doubt, at this point, that the mint went through these coins. I feel now that the remainder are out there in grandma & grandpa's closet for the next 5 or 10 years and will trickle out slowly. >>



    Eight .nine ,ten year olds knew about the 2008/07s and have looked thru their father's 's 2008 eagles.. the word about these eagles has spread wide and far >>



    Who is going to let their 8 year old look through their expensive coins? Get real!!! And also, these coins are not well known at this point.
  • pakasmompakasmom Posts: 1,920
    The September edition of Coin Values does list the 2008 with 2007 reverse... but has no price listed.
  • pitbosspitboss Posts: 8,643 ✭✭✭
    In the pop reports, the PCGS 70 coins have increased to 259 while the 1st strike coins are still at 168 70's. I think this is going to be a very valuable coin in the near future. One just sold for $2750 on ebay and seem to be increasing lately.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Latest Greysheet has the 2008 / 2007
    Bid ..... $500 ...... Ask $550

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • 6Sigma6Sigma Posts: 96 ✭✭


    << <i>The September edition of Coin Values does list the 2008 with 2007 reverse... but has no price listed. >>



    It is showing in the electronic version but says Burnished 2008 Reverse of ....
    Electronic version shows a price, but it should be the price of the Burnished 2008.

    At least it is listed ... great news!
  • pakasmompakasmom Posts: 1,920
    Opa, is that Greysheet bid/ask for raw coins?


  • << <i>

    << <i>Well it looks like none of the Dollar Coin sets contain the 07 reverse !! the question now is did the mint recover any of these coins before they shipped. if so, what will they do with them?


    image >>



    Please explain why the mint would have made these sets up and let them sit around unsold for months which would have been the case if the sets were made with the error/variety ASE coins? >>



    I personally never thought more 07 reverse coins would be found. however many on this board were hopeful the dollar sets would contain more of them !! If I`m not mistaken. the mint policy is retrieve all errors & destroy them so they can`t get out into circulation, if possible !!! With 47,000 errors produced how many got out is the big question ? " We may never know "
  • 19Lyds19Lyds Posts: 26,490 ✭✭✭✭


    << <i>In the pop reports, the PCGS 70 coins have increased to 259 while the 1st strike coins are still at 168 70's. I think this is going to be a very valuable coin in the near future. One just sold for $2750 on ebay and seem to be increasing lately. >>



    Isn't this a little more than half of what these had been selling at?

    Edited to add: Ref: 5-24-2008 $5,900.00
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Opa, is that Greysheet bid/ask for raw coins? >>



    Accurately graded Raw or Certified ....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>One just sold for $2750 on ebay and seem to be increasing lately. >>

    That was a 2 coin MS70 FIRST STRIKE SET...2008/ 7 & 2008 reg. Both graded by PCGS FS 70

    Can't judge the price by those ... the PCGS MS70 FS 8/7 have sold in the $2300 - $2400 Range ... The non FS PCGS 70's in the $1400 - $1600 range ...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • bestdaybestday Posts: 4,239 ✭✭✭✭


    << <i>

    << <i>

    << <i>

    << <i>Well it looks like none of the Dollar Coin sets contain the 07 reverse !! the question now is did the mint recover any of these coins before they shipped. if so, what will they do with them?


    image >>

    I really doubt, at this point, that the mint went through these coins. I feel now that the remainder are out there in grandma & grandpa's closet for the next 5 or 10 years and will trickle out slowly. >>



    Eight .nine ,ten year olds knew about the 2008/07s and have looked thru their father's 's 2008 eagles.. the word about these eagles has spread wide and far >>



    Who is going to let their 8 year old look through their expensive coins? Get real!!! And also, these coins are not well known at this point. >>



    you ain't got no kids as they say..if you can't share your coin collection to , for the next generation of collectors ..than you need to get real..already my kids have held in thier hands .$$$$.20.000 + coins image
  • pitbosspitboss Posts: 8,643 ✭✭✭
    I don't have that kind of money to let kids do that.
  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Well it looks like none of the Dollar Coin sets contain the 07 reverse !! the question now is did the mint recover any of these coins before they shipped. if so, what will they do with them?


    image >>



    Please explain why the mint would have made these sets up and let them sit around unsold for months which would have been the case if the sets were made with the error/variety ASE coins? >>



    I personally never thought more 07 reverse coins would be found. however many on this board were hopeful the dollar sets would contain more of them !! If I`m not mistaken. the mint policy is retrieve all errors & destroy them so they can`t get out into circulation, if possible !!! With 47,000 errors produced how many got out is the big question ? " We may never know " >>



    It likely would have taken more than 47,000 ASEs just to make up the dollar sets. In order to get an error/variety into the set they would have had to have made them all up early and then put them in a warehouse for 2 or 3 months. I don't see them doing that any more than I see Ford stockpiling new vehicles.
    theknowitalltroll;
  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    Big jump in the PCGS pop. report for the non first strike

    8/17 totals........1344
    8/24 totals........3093

    First strike
    8/17 ...............1669
    8/24 ...............1674

    Looks as if all some of those "unacounted" ones, are coming out of the shadows.

    Looks like the PCGS first strike will be the key coin.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • lope208lope208 Posts: 1,960 ✭✭


    << <i>

    << <i>

    << <i>Well it looks like none of the Dollar Coin sets contain the 07 reverse !! the question now is did the mint recover any of these coins before they shipped. if so, what will they do with them?


    image >>

    I really doubt, at this point, that the mint went through these coins. I feel now that the remainder are out there in grandma & grandpa's closet for the next 5 or 10 years and will trickle out slowly. >>



    Eight .nine ,ten year olds knew about the 2008/07s and have looked thru their father's 's 2008 eagles.. the word about these eagles has spread wide and far >>



    I seriously doubt many 8, 9, or 10 year olds know about this variety. IMO, the only way that is going to happen is if people who are in the know allow their kids to play with their coins and educate them about this particular variety, OR say, a curious 10 yr old's grandfather just passed away, the coins went to the father who had little interest, and the 10 yr old starting googling coins to see how much they're worth.

    PS: the above is how I got started collecting when I was 9. My dad didn't have too much interest when we got my grandfather's coins. I used to be thrilled when he let me take them all out of the closet and look through them.
    PSS: We also didn't have google yet when I was 9 image
    Successful BST transactions:
    commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
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  • TwoSides2aCoinTwoSides2aCoin Posts: 44,286 ✭✭✭✭✭
    Is there a giveaway for the six thousandth post ? image
    Edited to answer Lee :
    image
    image

    Yes, this 1964 Roosevelt dime can be yours.
  • 19Lyds19Lyds Posts: 26,490 ✭✭✭✭


    << <i>Is there a giveaway for the six thousandth post ? image >>



    Sure!


    What are you giving away?? image
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • so what are these selling for raw nowdays? one showed up in our local paper for sale section today for $300
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    ...nearly 6,000 minted.image
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>so what are these selling for raw nowdays? one showed up in our local paper for sale section today for $300 >>



    If you can get one for $300, you better grab it quick!
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>so what are these selling for raw nowdays? one showed up in our local paper for sale section today for $300 >>



    What's the name of the newspaper?
    I want some image

    btw ... latest Greysheet has them for bid $500 ... ask $550
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • 7over87over8 Posts: 4,733 ✭✭✭
    with all due respect to other long timers on the forum

    the dollar sets were not packaged yesterday, nor were they packaged last week, or last month

    they were packaged at least 2-3 months ago and readied for sale.

    the possibility of these sets containing a 08/07 dollar does exist, but probability fades as more and more reports of not finding one surface.

    even with the reports on this board, they only cover a group of maybe 500-1000 sets maximum.

    keep looking. if they are not any more to be found, it calls the 47,000 number into question.......

    even if the foia response supports the dies used and 47,000 produced, it may not include any coins recovered from current stock and destroyed (if the US Mint actually destroys these so-called errors or varieties anymore.....they might just like to release them for publicity)
  • << so what are these selling for raw nowdays? one showed up in our local paper for sale section today for $300 >>



    What's the name of the newspaper?
    I want some

    btw ... latest Greysheet has them for bid $500 ... ask $550


    give it a shot, numbers listed in the ad.
    Scroll about halfway down the listings
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>Big jump in the PCGS pop. report for the non first strike

    8/17 totals........1344
    8/24 totals........3093

    First strike
    8/17 ...............1669
    8/24 ...............1674

    Looks as if all some of those "unacounted" ones, are coming out of the shadows.

    Looks like the PCGS first strike will be the key coin. >>



    The 69's increased by 5 coins but the big number that did not increase is the 70's which has stayed at 168 now for over a month. That is the coin that is going to be worth a lot of money.
  • smokincoinsmokincoin Posts: 2,636 ✭✭✭


    << <i>The 69's increased by 5 coins but the big number that did not increase is the 70's which has stayed at 168 now for over a month. That is the coin that is going to be worth a lot of money. >>


    No, it's the label that is going to be worth alot of money. Crazy huh?
  • jessewvujessewvu Posts: 5,065 ✭✭✭✭✭
    I wonder if the NGC and PCGS MS69's will start to converge on one price.
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>

    << <i>The 69's increased by 5 coins but the big number that did not increase is the 70's which has stayed at 168 now for over a month. That is the coin that is going to be worth a lot of money. >>


    No, it's the label that is going to be worth alot of money. Crazy huh? >>




    It sure is and I am sure glad I have one to go along with my 11 69's.
  • 6Sigma6Sigma Posts: 96 ✭✭


    << <i>I wonder if the NGC and PCGS MS69's will start to converge on one price. >>



    With the PCGS MS-70 having such a price differential over the NGC MS-70, I'm guessing that collectors or investors are going to want the PCGS in MS-69 which should give it an advantage in price realized.
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>

    << <i>I wonder if the NGC and PCGS MS69's will start to converge on one price. >>



    With the PCGS MS-70 having such a price differential over the NGC MS-70, I'm guessing that collectors or investors are going to want the PCGS in MS-69 which should give it an advantage in price realized. >>



    There are starting to be a lot of both 69 and 70's graded by PCGS but there are not many graded in first strike. That is where there is going to be a big difference in price. The window for first strikes has long ago passed and even sending in unopened boxes at this time is tough because you don't know if there are any errors in the boxes or not.
  • pitbosspitboss Posts: 8,643 ✭✭✭
    Can we get halfhunter in here for the 6000 th post!!!

    or if not---

    how about that Main iac that started all this--- give it up for---

    mach19
  • sfs2002usasfs2002usa Posts: 852 ✭✭✭
    I managed to get an NGC70ER. It would be nice to see prices for these near par with the PCGS70FS.
    May happen in the future if the count stays low.
  • jessewvujessewvu Posts: 5,065 ✭✭✭✭✭
    Well, either way I am holding onto the rest that I have. I have a good mix of both NGC and PCGS in both ER/First Strike and 69's and 70's (I only have 5 70's, 2 ngc ER, 1 pcgs First strike, and 2 pcgs regular MS70). Maybe I will give them to my son since he was born this year. They might get him through college in 18 years (financially that is)!
  • TootawlTootawl Posts: 5,877 ✭✭✭
    Has anyone heard if the 08/07 reverses are being found in US Mint orders lately?
    PCGS Currency: HOF 2013, Best Low Ball Set 2009-2014, 2016, 2018. Appreciation Award 2015, Best Showcase 2018, Numerous others.
  • TootawlTootawl Posts: 5,877 ✭✭✭
    #6000!!
    PCGS Currency: HOF 2013, Best Low Ball Set 2009-2014, 2016, 2018. Appreciation Award 2015, Best Showcase 2018, Numerous others.

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