<< <i>All sales are final on the clearance items, but they will accept returns for damaged items. Anything less than a 70 would technically be damaged (in the eyes of many collectors), so you can pretty much return anything you want. >>
Damaged in shipment. Does that mean you have to have the delivery person make a note of it?
<< <i>All sales are final on the clearance items, but they will accept returns for damaged items. Anything less than a 70 would technically be damaged (in the eyes of many collectors), so you can pretty much return anything you want. >>
I think you will find that they mean shipping damage only.
Gold and silver are valuable but wisdom is priceless.
This will also move toward thwarting speculators who buy quantities, try for MS-70 slabbing, then return the rest. I hope the mint will eventually limit all retail bullion item returns to 7-calendar days.
<< <i>Who knows what they will find while clearing things out. Maybe a 1933 saint.
I wonder how this "sale" will be handled. Will they have a special section on the web so you can browse all the sale items or will they just be found at random in the current catalog listings >>
I dont know, but I have a feeling that none of the plats or buffs will be available in that sale.
Is it reasonable to believe that the mint is not after today manufacturing any of the discontinued coins and that they are selling what they have in stock today or are they cranking up the mint until the 15th? Any thoughts.
Gold and silver are valuable but wisdom is priceless.
Mint Deputy Director Andrew D. Brunhart says of the clearance sale, “It will be limited time. First come, first served. No household limits. All sales will be final. If you’re wondering, we won’t exceed any Mint limits.â€
That makes it sound like they might mint more coins, they promised they had no more bullion to mint.
<< <i>All sales are final on the clearance items, but they will accept returns for damaged items. Anything less than a 70 would technically be damaged (in the eyes of many collectors), so you can pretty much return anything you want. >>
I think you will find that they mean shipping damage only. >>
Not that I would do it, but "things" have a way of happening.
I'm trying to decide if I want to buy any of the discontinued gold or platinum. I have the 06 and 07 proof 1 ounce buffaloes. I have held off on buying the 08 since it is priced way to high. I never had any intention of buying the fractional buffaloes or UNC gold eagles. The only gold I have bought from the Mint this year is the Bald Eagle commems.
I started collecting the 1/2 ounce plats last year. I have ordered the 08 1/2 UNC and Proof this year, as well as a 1/4 UNC because of the potential rarity. I don't see much of a future in the UNC set since it is so short. Super low mintages don't mean much if the collector base is even smaller than the number of coins available. I don't think the series will attract many new collectors in the future. As to proofs, few people collect the 1 ounce coins due to cost. Most seem to collect the 1/2 and smaller. These are now a closed series too, although with a longer run, but again with a very small collector base that is unlikely to grow.
I am really torn as to whether to buy any coins now as I don't see much of a premium over spot on these coins in the future. I am also torn as to whether I should return the 1/4 and 1/2 UNC plats that I recently purchased. I have better things to do with my money than to spend it on overpriced bullion. Am I looking at this the wrong way?
Mint Deputy Director Andrew D. Brunhart says of the clearance sale, “It will be limited time. First come, first served. No household limits. All sales will be final. If you’re wondering, we won’t exceed any Mint limits.â€
That makes it sound like they might mint more coins, they promised they had no more bullion to mint. >>
I wouldn't worry too much about the mint striking more. They are busy liquidating and downsizing, not in producing more.
However, on the other hand we should never trust the mint to keep its word. They are proven liars.
Mint Deputy Director Andrew D. Brunhart says of the clearance sale, â??It will be limited time. First come, first served. No household limits. All sales will be final. If youâ??re wondering, we wonâ??t exceed any Mint limits.â??
That makes it sound like they might mint more coins, they promised they had no more bullion to mint. >>
I hear what you're saying, but he also says:
MELTING COINS THAT AREN'T SOLD BY DECEMBER 19 Of those that don? sell, Brunhart says, ?We?re going to be doing a significant detrashing and melting (of) the products that do not sell by Dec. 19. Those products will be immediately broken down and sent to the melter.?
It still doesn't say they will not mint more coins, but my opinion is, they won't.
Wait and see what the prices are for the sale. If they discount things they might be much closer to bullion value. If they plan to melt what is left they would be better off selling those items close to melt imho. They might just keep knocking 10% off every week on whats left until the price reaches close to melt. Know one knows yet of course but it is possible.
i thought they had to post notice that they will reprice bullion products lower, so I don't think they can do it. It will go out at today's prices and probably pretty quickly.
<< <i>i thought they had to post notice that they will reprice bullion products lower, so I don't think they can do it. It will go out at today's prices and probably pretty quickly. >>
Is there a difference between bullion products and collectible versions? I see many items like the unc-w platinums listed as collectible version on the mints web site.
So...now that I'm still well within the 30-day return window on my 8 UNC plats (mixed denoms) and 2 proofs (1/2 & 1/4)...I'm thinking I should hold tight?!?
<< <i>So...now that I'm still well within the 30-day return window on my 8 UNC plats (mixed denoms) and 2 proofs (1/2 & 1/4)...I'm thinking I should hold tight?!? >>
My guess is that those coins will not be available in the "sale".
I meant by bullion products the collector version too, that was posted in the Federal Register. So if it is not posted as new pricing I don't think they can lower them.
On the plat s you have I would hold them as I am holding mine and buying more. It is a finished set except for the one ounce proof plat.
The buffalo fractionals are a one year set so hold those, the only way the mint can hurt us now if is they mint more, which I hope doesn't happens.
Tomorrow we get mint sales numbers so we should see how many of these they had sold today to noon I think.
If you wait until the finial sale you might be out of luck IMO. If you collect any of these series I'd get them sooner rather than later esp. on the UNC W Plats and the fractional gold buff's.
Not that I would do it, but "things" have a way of happening.
I'm trying to decide if I want to buy any of the discontinued gold or platinum. I have the 06 and 07 proof 1 ounce buffaloes. I have held off on buying the 08 since it is priced way to high. I never had any intention of buying the fractional buffaloes or UNC gold eagles. The only gold I have bought from the Mint this year is the Bald Eagle commems.
I started collecting the 1/2 ounce plats last year. I have ordered the 08 1/2 UNC and Proof this year, as well as a 1/4 UNC because of the potential rarity. I don't see much of a future in the UNC set since it is so short. Super low mintages don't mean much if the collector base is even smaller than the number of coins available. I don't think the series will attract many new collectors in the future. As to proofs, few people collect the 1 ounce coins due to cost. Most seem to collect the 1/2 and smaller. These are now a closed series too, although with a longer run, but again with a very small collector base that is unlikely to grow.
I am really torn as to whether to buy any coins now as I don't see much of a premium over spot on these coins in the future. I am also torn as to whether I should return the 1/4 and 1/2 UNC plats that I recently purchased. I have better things to do with my money than to spend it on overpriced bullion. Am I looking at this the wrong way?
I think you are looking at this the wrong way. First, I disagree with you about the future of the unc-w platinums. The collector base there has been small, so the question is whether they have a shot at attracting new collectors as a closed set. I think that the answer is yes. Actually, I think they have a BETTER shot at increasing the base as a closed set than they did as an open one. There won't be a continuing concern that the next year will be an even lower mintage than the previous one. We might see the more common platinum proofs showing value higher than melt. The UNC-W coins should fare even better. Most of these coins have mintages under 5,000. As a closed set, those coins have some appeal, limited to the 3 branches of fovernment, which is a compelling numismatic topic. An entrant into that market is no longer faced with a continuing commitment, but can obtain a very low mintage, discrete type set of coins.
As for how the remaining 1 ounce platinum proof will fare, I'm not sure. Eliminating the fractionals frees up a lot of money that would normally be committed to the platinum fractionals, and I expect that the dedicated platinum $100 and set collectors will probably continue to buy one, and some of the fractional collectors might move up to the $100. I think that demand will likely continue at at the 2004 platinum 1 ounce level -- if it doesn't, my hope would be that the Mint would kill that too.
As for the gold Buffalos, I think they are MUCH more appealing as a one year offering. The design has a lot of numismatic appeal. Personally, I think the best of the bunch is the $10 coin, since it's the same size as the nickel, but I suppose that's just a matter of preference. Anyway, I didn't have much hope for the Buffalo fractionals as an annual set- from other offerings, we know the trend: a lot of interest/high sales in the first year, followed by future years of declining interest and lower mintages. As a one year offering, these coins are a lot more attractive. I'm less concerned about the premium over melt.
There's a chance, I suppose, that the Mint will reprice things lower to clear inventory. I think that makes less sense for bullion coin offerings -- where I think the announcement will help drive a sellout by December 15 even at existing prices, than things like spoons, where I think demand and interest is very low and unlikely to change, and where, unlike bullion, the Mint won't be able to recoup a large percentage of its outlay by melting.
I'd have to agree about the Pt fractionals. It's easy to be circumspect, especially with the economy in a downturn, but in the long run - maybe 20 years from now - there may be big gains for this limited set.
If you wait until the finial sale you might be out of luck IMO. If you collect any of these series I'd get them sooner rather than later esp. on the UNC W Plats and the fractional gold buff's.
they need to reprice stuff like spoons to get them to sell. For the bullion coins, there's much less pressure to reprice, the knowledge that those programs are ending will drive sales, and they'll probably make more $$ by selling 80% of the remaining stock at current prices and melting the other 20% than they would by trying to reprice everything closer to spot.
<< <i>Not that I would do it, but "things" have a way of happening.
I'm trying to decide if I want to buy any of the discontinued gold or platinum. I have the 06 and 07 proof 1 ounce buffaloes. I have held off on buying the 08 since it is priced way to high. I never had any intention of buying the fractional buffaloes or UNC gold eagles. The only gold I have bought from the Mint this year is the Bald Eagle commems.
I started collecting the 1/2 ounce plats last year. I have ordered the 08 1/2 UNC and Proof this year, as well as a 1/4 UNC because of the potential rarity. I don't see much of a future in the UNC set since it is so short. Super low mintages don't mean much if the collector base is even smaller than the number of coins available. I don't think the series will attract many new collectors in the future. As to proofs, few people collect the 1 ounce coins due to cost. Most seem to collect the 1/2 and smaller. These are now a closed series too, although with a longer run, but again with a very small collector base that is unlikely to grow.
I am really torn as to whether to buy any coins now as I don't see much of a premium over spot on these coins in the future. I am also torn as to whether I should return the 1/4 and 1/2 UNC plats that I recently purchased. I have better things to do with my money than to spend it on overpriced bullion. Am I looking at this the wrong way?
I think you are looking at this the wrong way. First, I disagree with you about the future of the unc-w platinums. The collector base there has been small, so the question is whether they have a shot at attracting new collectors as a closed set. I think that the answer is yes. Actually, I think they have a BETTER shot at increasing the base as a closed set than they did as an open one. There won't be a continuing concern that the next year will be an even lower mintage than the previous one. We might see the more common platinum proofs showing value higher than melt. The UNC-W coins should fare even better. Most of these coins have mintages under 5,000. As a closed set, those coins have some appeal, limited to the 3 branches of fovernment, which is a compelling numismatic topic. An entrant into that market is no longer faced with a continuing commitment, but can obtain a very low mintage, discrete type set of coins.
As for how the remaining 1 ounce platinum proof will fare, I'm not sure. Eliminating the fractionals frees up a lot of money that would normally be committed to the platinum fractionals, and I expect that the dedicated platinum $100 and set collectors will probably continue to buy one, and some of the fractional collectors might move up to the $100. I think that demand will likely continue at at the 2004 platinum 1 ounce level -- if it doesn't, my hope would be that the Mint would kill that too.
As for the gold Buffalos, I think they are MUCH more appealing as a one year offering. The design has a lot of numismatic appeal. Personally, I think the best of the bunch is the $10 coin, since it's the same size as the nickel, but I suppose that's just a matter of preference. Anyway, I didn't have much hope for the Buffalo fractionals as an annual set- from other offerings, we know the trend: a lot of interest/high sales in the first year, followed by future years of declining interest and lower mintages. As a one year offering, these coins are a lot more attractive. I'm less concerned about the premium over melt.
There's a chance, I suppose, that the Mint will reprice things lower to clear inventory. I think that makes less sense for bullion coin offerings -- where I think the announcement will help drive a sellout by December 15 even at existing prices, than things like spoons, where I think demand and interest is very low and unlikely to change, and where, unlike bullion, the Mint won't be able to recoup a large percentage of its outlay by melting. >>
I just checked the federal register and don't see any price changes coming, at least not through the search function they have. I bet they sell out of most gold and plat by the end of the week if not sooner, like today.
<< <i>I looked elsewhere online and almost nobody else knows they are ending these programs. We have the news all to ourselves it seems.
>>
It's all over the internet, NN, mintblogs, and the mint is running a scrolling notice of the upcoming clearance sale....Probably be on tonight's local news...
I'd have to agree about the Pt fractionals. It's easy to be circumspect, especially with the economy in a downturn,but in the long run - maybe 20 years from now - there may be big gains for this limited set.
Seriously. what are we talking about mintage-wise on the platinum unc-w coins?
Also, though I'm a platinum junkie, I'm a fan of the $10 buffalo... very nice coin, and roughly the size of the nickel, it's got a lot going for it. I was not a fan with an unlimited year after year run, since it's basically a type coin, and there's nothing very compelling about committing to purchasing 1/4 oz of gold at a 30% markup to melt year after year. But as a one shot deal, I think it's a winner.
Thanks for your advice, NYC. I suppose I will keep what I have, but I don't know if I will buy more. As a collector, I don't see the appeal of a limited run or one off collection. Even before today I was thinking of buying a 4 coin UNC plat set, but it's a lot of money to tie up hoping for a long term flip. I don't think anything really worth buying will survive long enough to repriced in the sale.
Now I am thinking of returning the UNC 1/4 and 1/2 and just getting the 4 coin set.
It's all over the internet, NN, mintblogs, and the mint is running a scrolling notice of the upcoming clearance sale....Probably be on tonight's local news... >>
The mint press release doesn't even say what they are discontinuing
. United States Mint Embarks on Major Update of Its Numismatic Product Portfolio WASHINGTON - The United States Mint is conducting a comprehensive, top-to-bottom review of its numismatic product portfolio to focus next year on those products collectors most appreciate and order most often. "We are responding to the collector community which has spoken loudly and clearly," said United States Mint Director Ed Moy. "Customers have told us there are just too many products. We agree, and it's time the United States Mint trims down and concentrates on the products our customers love most." Trimming the 2009 portfolio will afford the United States Mint the opportunity to focus resources on its core products. It will spotlight offerings with broad appeal, such as its annual United States Mint Proof Sets. With fewer products to manufacture, the United States Mint will be able to offer proof sets and other products earlier in the calendar year beginning in 2010, making them available for customers to purchase for more occasions. The United States Mint relied principally on the number of units sold in determining which products or product lines have been most popular with collectors and other customers. More than 550 individual coin and medal products were evaluated; nearly 200 of those coin and medal products will remain in the new portfolio. The United States Mint will analyze its products each year to ensure the best portfolio is maintained.
I wish they had listed it like in the other article, maybe this is why things haven't sold out.
<< <i>Could it be a shortage of physical gold is what is mainly driving this? >>
Could be they want to distance themselves from selling Gold to the public as a precaution to confiscation? Take it a bit slow at first, then drop the news "Oh. by the way, we are dropping the One Ouncers too" Good timing too with the physical shortage and USPS cutting jobs...
From reading some posts on this forum I think they still have 2007 products such as proof sets and mint sets in the warehouse, which will be put back on sale. I don't think they have any backdated gold or platinum, but who knows.
Now it says the sale of these products will increase previously stated "final" sales figures. For what products?
First they said they were out of blanks and no more bullion, now we get this that final sales figures are not final.
I think they are talking about the long list of items in the "Last Chance Product Listing". Those are on the 1st post of this thread, but include things like:
2007 United States Mint Proof Set® 2007 United States Mint 50 State Quarters Proof SetTM 2004 United States Mint Uncirculated Coin Set(R) 2006 United States Mint Uncirculated Coin Set® 2007 United States Mint Uncirculated Coin Set® 2007 United States Mint Silver Proof SetTM 2007 United States Mint 50 State Quarters Silver Proof SetTM Bags & Rolls 2001 Sacagawea Golden Dollar Roll (P) 2001 Kennedy Half-Dollar 200-Coin Bag 2001 Kennedy Half-Dollar Two-Roll Set 2002 Sacagawea Golden Dollar 2000-Coin Bag (P) 2002 Sacagawea Golden Dollar 2000-Coin Bag (D) 2003 Jefferson Nickel Two-Roll Set 2004 Sacagawea Golden Dollar 2000-Coin Bag (D) 2005 Ocean in View Nickel 1,000-Coin Bag (P) 2005 Ocean in View Nickel 1,000-Coin Bag (D) 2005 Sacagawea Golden Dollar 2000-Coin Bag (P) 50 State Quarters® First Day Coin Covers Presidential $1 Coin Coin Covers Westward Journey Nickel Sets 2004 Westward Journey Nickel SeriesTM Coin Set 2006 Westward Journey Nickel SeriesTM Coin Set
Comments
I agree with some, it would be cool to get some fractionals at spot.
<< <i>All sales are final on the clearance items, but they will accept returns for damaged items. Anything less than a 70 would technically be damaged (in the eyes of many collectors), so you can pretty much return anything you want. >>
Damaged in shipment. Does that mean you have to have the delivery person make a note of it?
303853XX
303871XX
2000 orders is not many when they have so much left to sell.
<< <i>All sales are final on the clearance items, but they will accept returns for damaged items. Anything less than a 70 would technically be damaged (in the eyes of many collectors), so you can pretty much return anything you want. >>
I think you will find that they mean shipping damage only.
Here's a warning parable for coin collectors...
<< <i>Who knows what they will find while clearing things out.
Maybe a 1933 saint.
I wonder how this "sale" will be handled.
Will they have a special section on the web so you can browse all the sale items or will they just be found at random in the current catalog listings
I dont know, but I have a feeling that none of the plats or buffs will be available in that sale.
Mint Deputy Director Andrew D. Brunhart says of the clearance sale, “It will be limited time. First come, first served. No household limits. All sales will be final. If you’re wondering, we won’t exceed any Mint limits.â€
That makes it sound like they might mint more coins, they promised they had no more bullion to mint.
<< <i>
<< <i>All sales are final on the clearance items, but they will accept returns for damaged items. Anything less than a 70 would technically be damaged (in the eyes of many collectors), so you can pretty much return anything you want. >>
I think you will find that they mean shipping damage only. >>
Not that I would do it, but "things" have a way of happening.
I'm trying to decide if I want to buy any of the discontinued gold or platinum. I have the 06 and 07 proof 1 ounce buffaloes. I have held off on buying the 08 since it is priced way to high. I never had any intention of buying the fractional buffaloes or UNC gold eagles. The only gold I have bought from the Mint this year is the Bald Eagle commems.
I started collecting the 1/2 ounce plats last year. I have ordered the 08 1/2 UNC and Proof this year, as well as a 1/4 UNC because of the potential rarity. I don't see much of a future in the UNC set since it is so short. Super low mintages don't mean much if the collector base is even smaller than the number of coins available. I don't think the series will attract many new collectors in the future. As to proofs, few people collect the 1 ounce coins due to cost. Most seem to collect the 1/2 and smaller. These are now a closed series too, although with a longer run, but again with a very small collector base that is unlikely to grow.
I am really torn as to whether to buy any coins now as I don't see much of a premium over spot on these coins in the future. I am also torn as to whether I should return the 1/4 and 1/2 UNC plats that I recently purchased. I have better things to do with my money than to spend it on overpriced bullion. Am I looking at this the wrong way?
<< <i>This has me worried:
Mint Deputy Director Andrew D. Brunhart says of the clearance sale, “It will be limited time. First come, first served. No household limits. All sales will be final. If you’re wondering, we won’t exceed any Mint limits.â€
That makes it sound like they might mint more coins, they promised they had no more bullion to mint. >>
I wouldn't worry too much about the mint striking more. They are busy liquidating and downsizing, not in producing more.
However, on the other hand we should never trust the mint to keep its word. They are proven liars.
<< <i>This has me worried:
Mint Deputy Director Andrew D. Brunhart says of the clearance sale, â??It will be limited time. First come, first served. No household limits. All sales will be final. If youâ??re wondering, we wonâ??t exceed any Mint limits.â??
That makes it sound like they might mint more coins, they promised they had no more bullion to mint. >>
I hear what you're saying, but he also says:
MELTING COINS THAT AREN'T SOLD BY DECEMBER 19
Of those that don? sell, Brunhart says, ?We?re going to be doing a significant detrashing and melting (of) the products that do not sell by Dec. 19. Those products will be immediately broken down and sent to the melter.?
It still doesn't say they will not mint more coins, but my opinion is, they won't.
<< <i>[Am I looking at this the wrong way? >>
Wait and see what the prices are for the sale. If they discount things they might be much closer to bullion value.
If they plan to melt what is left they would be better off selling those items close to melt imho.
They might just keep knocking 10% off every week on whats left until the price reaches close to melt. Know one knows yet of course but it is possible.
I'll wait for the 'sale', but I don't see a whole lot I want. If there is a flip, I'm a buyer, but I don't see anything I don't already have.
Here's my BAD luck.
I bought 10 1/10 proof plats. I kept 3 and sent 7 back this morning !!!!
If those get discounted to a $100 or so, I'm out $50 right off the top...
<< <i>i thought they had to post notice that they will reprice bullion products lower, so I don't think they can do it. It will go out at today's prices and probably pretty quickly. >>
Is there a difference between bullion products and collectible versions?
I see many items like the unc-w platinums listed as collectible version on the mints web site.
So...now that I'm still well within the 30-day return window on my 8 UNC plats (mixed denoms) and 2 proofs (1/2 & 1/4)...I'm thinking I should hold tight?!?
<< <i>So...now that I'm still well within the 30-day return window on my 8 UNC plats (mixed denoms) and 2 proofs (1/2 & 1/4)...I'm thinking I should hold tight?!? >>
My guess is that those coins will not be available in the "sale".
On the plat s you have I would hold them as I am holding mine and buying more. It is a finished set except for the one ounce proof plat.
The buffalo fractionals are a one year set so hold those, the only way the mint can hurt us now if is they mint more, which I hope doesn't happens.
Tomorrow we get mint sales numbers so we should see how many of these they had sold today to noon I think.
I'm trying to decide if I want to buy any of the discontinued gold or platinum. I have the 06 and 07 proof 1 ounce buffaloes. I have held off on buying the 08 since it is priced way to high. I never had any intention of buying the fractional buffaloes or UNC gold eagles. The only gold I have bought from the Mint this year is the Bald Eagle commems.
I started collecting the 1/2 ounce plats last year. I have ordered the 08 1/2 UNC and Proof this year, as well as a 1/4 UNC because of the potential rarity. I don't see much of a future in the UNC set since it is so short. Super low mintages don't mean much if the collector base is even smaller than the number of coins available. I don't think the series will attract many new collectors in the future. As to proofs, few people collect the 1 ounce coins due to cost. Most seem to collect the 1/2 and smaller. These are now a closed series too, although with a longer run, but again with a very small collector base that is unlikely to grow.
I am really torn as to whether to buy any coins now as I don't see much of a premium over spot on these coins in the future. I am also torn as to whether I should return the 1/4 and 1/2 UNC plats that I recently purchased. I have better things to do with my money than to spend it on overpriced bullion. Am I looking at this the wrong way?
I think you are looking at this the wrong way. First, I disagree with you about the future of the unc-w platinums. The collector base there has been small, so the question is whether they have a shot at attracting new collectors as a closed set. I think that the answer is yes. Actually, I think they have a BETTER shot at increasing the base as a closed set than they did as an open one. There won't be a continuing concern that the next year will be an even lower mintage than the previous one. We might see the more common platinum proofs showing value higher than melt. The UNC-W coins should fare even better. Most of these coins have mintages under 5,000. As a closed set, those coins have some appeal, limited to the 3 branches of fovernment, which is a compelling numismatic topic. An entrant into that market is no longer faced with a continuing commitment, but can obtain a very low mintage, discrete type set of coins.
As for how the remaining 1 ounce platinum proof will fare, I'm not sure. Eliminating the fractionals frees up a lot of money that would normally be committed to the platinum fractionals, and I expect that the dedicated platinum $100 and set collectors will probably continue to buy one, and some of the fractional collectors might move up to the $100. I think that demand will likely continue at at the 2004 platinum 1 ounce level -- if it doesn't, my hope would be that the Mint would kill that too.
As for the gold Buffalos, I think they are MUCH more appealing as a one year offering. The design has a lot of numismatic appeal. Personally, I think the best of the bunch is the $10 coin, since it's the same size as the nickel, but I suppose that's just a matter of preference. Anyway, I didn't have much hope for the Buffalo fractionals as an annual set- from other offerings, we know the trend: a lot of interest/high sales in the first year, followed by future years of declining interest and lower mintages. As a one year offering, these coins are a lot more attractive. I'm less concerned about the premium over melt.
There's a chance, I suppose, that the Mint will reprice things lower to clear inventory. I think that makes less sense for bullion coin offerings -- where I think the announcement will help drive a sellout by December 15 even at existing prices, than things like spoons, where I think demand and interest is very low and unlikely to change, and where, unlike bullion, the Mint won't be able to recoup a large percentage of its outlay by melting.
but in the long run - maybe 20 years from now - there may be big gains for this limited set.
they need to reprice stuff like spoons to get them to sell. For the bullion coins, there's much less pressure to reprice, the knowledge that those programs are ending will drive sales, and they'll probably make more $$ by selling 80% of the remaining stock at current prices and melting the other 20% than they would by trying to reprice everything closer to spot.
<< <i>Not that I would do it, but "things" have a way of happening.
I'm trying to decide if I want to buy any of the discontinued gold or platinum. I have the 06 and 07 proof 1 ounce buffaloes. I have held off on buying the 08 since it is priced way to high. I never had any intention of buying the fractional buffaloes or UNC gold eagles. The only gold I have bought from the Mint this year is the Bald Eagle commems.
I started collecting the 1/2 ounce plats last year. I have ordered the 08 1/2 UNC and Proof this year, as well as a 1/4 UNC because of the potential rarity. I don't see much of a future in the UNC set since it is so short. Super low mintages don't mean much if the collector base is even smaller than the number of coins available. I don't think the series will attract many new collectors in the future. As to proofs, few people collect the 1 ounce coins due to cost. Most seem to collect the 1/2 and smaller. These are now a closed series too, although with a longer run, but again with a very small collector base that is unlikely to grow.
I am really torn as to whether to buy any coins now as I don't see much of a premium over spot on these coins in the future. I am also torn as to whether I should return the 1/4 and 1/2 UNC plats that I recently purchased. I have better things to do with my money than to spend it on overpriced bullion. Am I looking at this the wrong way?
I think you are looking at this the wrong way. First, I disagree with you about the future of the unc-w platinums. The collector base there has been small, so the question is whether they have a shot at attracting new collectors as a closed set. I think that the answer is yes. Actually, I think they have a BETTER shot at increasing the base as a closed set than they did as an open one. There won't be a continuing concern that the next year will be an even lower mintage than the previous one. We might see the more common platinum proofs showing value higher than melt. The UNC-W coins should fare even better. Most of these coins have mintages under 5,000. As a closed set, those coins have some appeal, limited to the 3 branches of fovernment, which is a compelling numismatic topic. An entrant into that market is no longer faced with a continuing commitment, but can obtain a very low mintage, discrete type set of coins.
As for how the remaining 1 ounce platinum proof will fare, I'm not sure. Eliminating the fractionals frees up a lot of money that would normally be committed to the platinum fractionals, and I expect that the dedicated platinum $100 and set collectors will probably continue to buy one, and some of the fractional collectors might move up to the $100. I think that demand will likely continue at at the 2004 platinum 1 ounce level -- if it doesn't, my hope would be that the Mint would kill that too.
As for the gold Buffalos, I think they are MUCH more appealing as a one year offering. The design has a lot of numismatic appeal. Personally, I think the best of the bunch is the $10 coin, since it's the same size as the nickel, but I suppose that's just a matter of preference. Anyway, I didn't have much hope for the Buffalo fractionals as an annual set- from other offerings, we know the trend: a lot of interest/high sales in the first year, followed by future years of declining interest and lower mintages. As a one year offering, these coins are a lot more attractive. I'm less concerned about the premium over melt.
There's a chance, I suppose, that the Mint will reprice things lower to clear inventory. I think that makes less sense for bullion coin offerings -- where I think the announcement will help drive a sellout by December 15 even at existing prices, than things like spoons, where I think demand and interest is very low and unlikely to change, and where, unlike bullion, the Mint won't be able to recoup a large percentage of its outlay by melting. >>
Yes, what he said!
<< <i>Now..............what to buy.
Fractional Buffalos look good............ >>
Exactly what I was thinking. I just wish I could buy a load of 'em.
<< <i>I looked elsewhere online and almost nobody else knows they are ending these programs. We have the news all to ourselves it seems.
It's all over the internet, NN, mintblogs, and the mint is running a scrolling notice of the upcoming clearance sale....Probably be on tonight's local news...
Seriously. what are we talking about mintage-wise on the platinum unc-w coins?
Numbers are something like this:
year.......$100......$50.....$25.....$10
2006 w: 3,068 2,577 2,676 3,544
2007 w: 4,025 3,888 3,829 5,992
2008 w: 3,500? 3,000? 3,000? 4,000?
With the Mint cutting back on excess production and superfluous programs, we're NOT going to see mintages that low again for awhile.
It doesn't hurt any that these coins have solid designs.
Dumber question: Has the Mint ever lowered their price on anything?
<< <i>Dumb question: If you place an order with the Mint and they lower the price on an item you have on order will they adjust your bill?
Dumber question: Has the Mint ever lowered their price on anything? >>
Not very often but they did recently with the plats.
Now I am thinking of returning the UNC 1/4 and 1/2 and just getting the 4 coin set.
<< <i>
<< <i>
It's all over the internet, NN, mintblogs, and the mint is running a scrolling notice of the upcoming clearance sale....Probably be on tonight's local news...
The mint press release doesn't even say what they are discontinuing
. United States Mint Embarks on Major Update of Its Numismatic Product Portfolio WASHINGTON - The United States Mint is conducting a comprehensive, top-to-bottom review of its numismatic product portfolio to focus next year on those products collectors most appreciate and order most often. "We are responding to the collector community which has spoken loudly and clearly," said United States Mint Director Ed Moy. "Customers have told us there are just too many products. We agree, and it's time the United States Mint trims down and concentrates on the products our customers love most." Trimming the 2009 portfolio will afford the United States Mint the opportunity to focus resources on its core products. It will spotlight offerings with broad appeal, such as its annual United States Mint Proof Sets. With fewer products to manufacture, the United States Mint will be able to offer proof sets and other products earlier in the calendar year beginning in 2010, making them available for customers to purchase for more occasions. The United States Mint relied principally on the number of units sold in determining which products or product lines have been most popular with collectors and other customers. More than 550 individual coin and medal products were evaluated; nearly 200 of those coin and medal products will remain in the new portfolio. The United States Mint will analyze its products each year to ensure the best portfolio is maintained.
I wish they had listed it like in the other article, maybe this is why things haven't sold out.
<< <i>Could it be a shortage of physical gold is what is mainly driving this? >>
Could be they want to distance themselves from selling Gold to the public as a precaution to confiscation?
Take it a bit slow at first, then drop the news "Oh. by the way, we are dropping the One Ouncers too"
Good timing too with the physical shortage and USPS cutting jobs...
Miles
yes, that and the little-known spoon shortage.
<< <i>from the U.S. Mint press release on close out sale: "The sale of these products will increase previously stated "final" sales figures." >>
I think this is only for the items listed in the Last Chance Product Listing (in the very first post).
yeah, that's pretty disgusting. I'm still waiting for the day when they announce they located a couple of bags of 1893s Morgan dollars in the vault.
<< <i>Could it be a shortage of physical gold is what is mainly driving this?
yes, that and the little-known spoon shortage.
I know what you mean. Especially clean spoons.
Now it says the sale of these products will increase previously stated "final" sales figures. For what products?
First they said they were out of blanks and no more bullion, now we get this that final sales figures are not final.
Now it says the sale of these products will increase previously stated "final" sales figures. For what products?
First they said they were out of blanks and no more bullion, now we get this that final sales figures are not final.
I think they are talking about the long list of items in the "Last Chance Product Listing". Those are on the 1st post of this thread, but include things like:
2007 United States Mint Proof Set®
2007 United States Mint 50 State Quarters Proof SetTM
2004 United States Mint Uncirculated Coin Set(R)
2006 United States Mint Uncirculated Coin Set®
2007 United States Mint Uncirculated Coin Set®
2007 United States Mint Silver Proof SetTM
2007 United States Mint 50 State Quarters Silver Proof SetTM
Bags & Rolls
2001 Sacagawea Golden Dollar Roll (P)
2001 Kennedy Half-Dollar 200-Coin Bag
2001 Kennedy Half-Dollar Two-Roll Set
2002 Sacagawea Golden Dollar 2000-Coin Bag (P)
2002 Sacagawea Golden Dollar 2000-Coin Bag (D)
2003 Jefferson Nickel Two-Roll Set
2004 Sacagawea Golden Dollar 2000-Coin Bag (D)
2005 Ocean in View Nickel 1,000-Coin Bag (P)
2005 Ocean in View Nickel 1,000-Coin Bag (D)
2005 Sacagawea Golden Dollar 2000-Coin Bag (P)
50 State Quarters® First Day Coin Covers
Presidential $1 Coin Coin Covers
Westward Journey Nickel Sets
2004 Westward Journey Nickel SeriesTM Coin Set
2006 Westward Journey Nickel SeriesTM Coin Set
<< <i>from the U.S. Mint press release on close out sale: "The sale of these products will increase previously stated "final" sales figures." >>
Maybe for Sacajawea dollars and the like, but probably not for most of the gold and platinum stuff. Just my guess.