It will be interesting to see how far the order report goes past 6,800. I dont think they struck any more. I think what they had on the first run is all there are. We shall know before too long.
<< <i>Hmm...I think I might take the plunge and grab a proof Buch. >>
How come folks are not stocking up on these right now if they are likely keys? >>
For me, it's a financial issue. I bet others are stretched a bit thin at the moment buying silver and the pucks, etc. Plus, I already have a unc buch. The proof buch seems like a good under-the-radar buy to me at the moment.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
So no more proof Buchs can be struck in the year 2011? I thought they could mint more any time, up until one year from when they were first offered (or does that only apply to selling them?)
<< <i>So no more proof Buchs can be struck in the year 2011? I thought they could mint more any time, up until one year from when they were first offered (or does that only apply to selling them?) >>
By law, coins of a given year may only be minted in that year. So once they run out of Buch proofs, that's it. You can't mint 2010 dated coins in 2011.
<< <i>So no more proof Buchs can be struck in the year 2011? I thought they could mint more any time, up until one year from when they were first offered (or does that only apply to selling them?) >>
By law, coins of a given year may only be minted in that year. So once they run out of Buch proofs, that's it. You can't mint 2010 dated coins in 2011. >>
Is that also true in reverse, meaning coins dated 2011 cannot be minted in 2010? So for example all the 2011 silver eagles now being offered by Apmex were minted started Monday January 3rd 2011?
I got the word there were no more proof bucks struck. The back order was a transfer delay from mint inventory to PB. What they struck they struck and no more were made. Now its back to how many did they think they needed at the start and how far in error is the weekly sales report do to returned and canceled coins that have not come off the report.
I think they will be as rare or rarer than proof VBs. This has been the story more or less from three separate dependable people that should know.
Thanks very much eric. Very interesting. It sounds like they'll be very close. I wonder how much of a premium the key will bring if they are extremely close.
<< <i>So no more proof Buchs can be struck in the year 2011? I thought they could mint more any time, up until one year from when they were first offered (or does that only apply to selling them?) >>
By law, coins of a given year may only be minted in that year. So once they run out of Buch proofs, that's it. You can't mint 2010 dated coins in 2011. >>
Is that also true in reverse, meaning coins dated 2011 cannot be minted in 2010? So for example all the 2011 silver eagles now being offered by Apmex were minted started Monday January 3rd 2011? >>
Nobody has replied here to this mintage year question, so I'll start a new separate thread to ask about it.
I'm surprised with the info that ericj96 just posted we are not hearing about a rush to purchase the few remaining proof Buchs..... everyone must be too busy trying to chase down the derned hockey pucks....
It's very hard to know what to do with these. I've got three very nice ones w/five days left for returns. As MsM says, they could be selling into Sept. HOW many did they Mint?? Looks like even if they are the Lib. subset key, it won't be by much.
<< <i>I'm surprised with the info that ericj96 just posted we are not hearing about a rush to purchase the few remaining proof Buchs..... everyone must be too busy trying to chase down the derned hockey pucks.. >>
Well I got my pucks. Now should I pull the trigger on some more Buchs? What say you all?
Excellent BST board members who complete their deals: WONDERCOIN, DABIGKAHUNA, GEMSTATECOINS, FIVECENTS, SILVEREAGLES92, NEWMISMATIST, GTOster, SCHMITZ7,
<< <i>It's very hard to know what to do with these. I've got three very nice ones w/five days left for returns. As MsM says, they could be selling into Sept. HOW many did they Mint?? Looks like even if they are the Lib. subset key, it won't be by much. >>
It might surprise you. The Van Buren proof mintage dropped by about 500 (to around 6800) when the "final final" figures were released, and the coin is already selling at over $1100 raw. The Buchanan proof could easily wind up in the 6300-to-6400 range and sell at a comparable price or higher. At $160 over melt, there isn't much risk in keeping them.
When deciding how many coins of each design to strike, I don't think the Mint took into account that there would be additional demand for the "Liberty" subset. For planning purposes, the Buchanan was probably treated like any other First Spouse coin. This can be seen in the 2010 mintage limits, in which the Buchanan was lumped in with the Fillmore and Pierce (15,000 limit), and only the Mary Todd Lincoln mintage limits were raised to 20,000 to reflect the popularity of her husband. So when Buchanan orders exceeded expectations, the coin sold out early. (A similar thing happened with the Jackson, which sold out a few weeks before the customary end date.)
<< <i>...So when Buchanan orders exceeded expectations, the coin sold out early. (A similar thing happened with the Jackson, which sold out a few weeks before the customary end date.) >>
You can try to game out how soon a a sellout might occur and how many coins are left based on a strike of 15,000 but does anyone here really think they struck all 15,000 coins? I say not a chance.
<< <i>I got the word there were no more proof bucks struck. The back order was a transfer delay from mint inventory to PB. What they struck they struck and no more were made. Now its back to how many did they think they needed at the start and how far in error is the weekly sales report do to returned and canceled coins that have not come off the report.
I think they will be as rare or rarer than proof VBs. This has been the story more or less from three separate dependable people that should know.
Eric >>
The question I have is, how many proofs did they strike? .. 8k, 9k... I may be wrong & only time will tell, that they struck a 60 - 40% ratio of proof to unc & that they did produce all 15k.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
They struck about 3500 uncs on the first run and then over 3000 more uncs on the second run in October. the chance of the proof buck being higher than about 8,000 coins is remote.
<< <i>They struck about 3500 uncs on the first run and then over 3000 more uncs on the second run in October. the chance of the proof buck being higher than about 8,000 coins is remote. >>
If your gut feeling is accurate, then the proofs could be as high as 8.5K & why would the mint cut short their authorized run by only 500 coins? "Does not compute."
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Because they have a scrap rate that wanders. If all you can sell is 15,000 coins and you have a 5% to 20% scrap rate you dont make 15,000/.9 = 16666 coins just to find out you only had a 5% scrap and have to throw away 15000/.95 -16666 = 876 coins. If they struck 7000 uncs how many did they end up with? How do they know this in advance? The theory that they can produce 15,000 coins is not rational unless they want to have extra melt coins for scrap.
Over 8,000 proofs is a very agressive high end assumption that I cant justify from the data.
<< <i>Because they have a scrap rate what wanders. If all you can sell is 15,000 coins and you have a 5% to 20% scrap rate you dont make 15,000/.9 = 16666 coins just to find out you only had a 5% scrap and have to throw away 15000/.95 -16666 = 876 coins. If they struck 7000 uncs how many did they end up with? How do they know this in advance? The theory that they can produce 15,000 coins is not rational unless they want to have extra melt coins for scrap.
Over 8,000 proofs is a very agressive high end assumption that I cant justify from the data. >>
Thanks for the explanation ... I suppose only time will tell, but at the rate they are selling, it will take a while before we know for sure. ( Just to cover all the bases ... I manged to pick up an MS & PR PCGS 69 from my brother in law..who needed some X'mas $$$ for $750 each.)
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>You can try to game out how soon a a sellout might occur and how many coins are left based on a strike of 15,000 but does anyone here really think they struck all 15,000 coins? I say not a chance. >>
I put 10,961/15,000 in as a reference and as a short way of saying if they are short struck, they've already sold almost 11,000... we could be hitting the limits of what was struck any time.
4,227 Unc. sold and 6,734 sold.
I will pose this for pondering:
If they minted 3,500 then 3,000 Uncirc. for a total of 6,500, and they mint knows that they sell more Proofs, then why wouldn't they have minted say 4,500 and 4,000 Proofs (6,500 + 8,500 = 15,000) ??
<< <i>They struck about 3500 uncs on the first run and then over 3000 more uncs on the second run in October. the chance of the proof buck being higher than about 8,000 coins is remote. >>
Eric, on the second run in October did they strike any additional proofs?
If not, then based on the initial run of 3500 uncs they likely struck fewer than 7000 proofs, and that may be all the proofs there are (or will be).
At +91 just last week, we should know shortly. At that rate, the Buchs. will overtake the VanBs (6803) very shortly.
Of course, as Overdate pointed out, the VanBs were adjusted down by 500. The Buchs could be adjusted by more???
As to the proof breaks, it seems that the latter Buchs had very few proof breaks, so perhaps many of the proof break returns have already been accounted for.
The VanB proofs, as noted, are already above $1100 AND that's w/the uncertainty of their key status due to the Buchs. If the Buch final, finals come in lower what will they go for? Conversely, if they come in higher, how much of a boost will that provide for the Buchs?
As was also pointed out, the Buchs should remain on sale until Sept. per the usual rotation schedule.
I have three very, very nice Buch proofs sitting here in my office w/5 days left to return. What to do??????????? So many variables. Keep, or send back and hopefully be able to get more if the Buchs go red in the near future????
If the proof mintage of the Buchanan winds up lower than the proof mintage of the Van Buren, the question of which is the true key will be complicated by the fact that the Van Buren will be scarcer by a considerable margin as a design type.
3826 unc. Van Buren vs. as many as 6500 Buchanan unc. makes for a *huge* difference in the overall mintage for each design.
They may not have struck the unc and proof buch to a normal ratio in the beginning knowing they would have to strike more coins later. So perhaps they struck the proofs to a full strike, did a low strike on the uncs knowing they would do more before the year ended.
Now they have a normal ratio again to run until things sell out or they end sales normally.
I will be surprised if they only did 6800 proof when sales near the end of november were 6400. They had 5 weeks to do another run but didn't and they decided not to with only 400 coins and 9 months of sales left? It doesn't make sense.
Anyway I hope it works out for you all, but I still think the unc are the better coins in the long run. Sales of proofs in the entire series have kept dropped off more than the unc coins, so the unc coins may have a better base at this point.
The Vb unc coin is only 683 coins or so off the bottom at Julia, while the proof VB is 1956 coins off the bottom of the Tyler proof. That is a big difference.
The vb unc is much closer to the key than the proof is, and even if the buch ends at 6500 by some miracle that is still 1656 higher.
So if the proofs are all about being prettier, the sales show that has worked against them perhaps.
<< <i> I have three very, very nice Buch proofs sitting here in my office w/5 days left to return. What to do??????????? So many variables. Keep, or send back and hopefully be able to get more if the Buchs go red in the near future???? >>
Buy 70 of them from the mint website. At that point, you should be able to see if 6800 is indeed the limit!
Seriously though....If it were me, I'd probably do a compromise decision and send back half of them....so you won't be hit as badly if they don't sell out. Watch the mint like a hawk and grab some on ebay as soon as they sell out.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
<< I will be surprised if they only did 6800 proof when sales near the end of november were 6400. They had 5 weeks to do another run but didn't and they decided not to with only 400 coins and 9 months of sales left? It doesn't make sense. >>
By the end of November the Mint had a bunch of other things on their plate (2011 annual sets and 2011 bullion Gold and Silver Eagles for early distribution plus the 5-oz. quarters), and the Buchanan proofs were selling very slowly. So striking additional proofs may not have been high on their priority list.
If you guys are thinking of returning nice proof buchs and finding replacements on ebay after a sellout you may want to search ebay availabitites now.One raw coins listed and three 69's listed in the ballpark of mint issue price , a couple NGC 70's around a grand and three 70 PCGS's at $1300+.If the proofs sell out soon you better be quick to find ebay coins .If you have raw coins that look like 70's I'd keep them.How often have Eric and 7/8 given poor advice?
It's all individual taste, but, that Van Buren is one of the most BLAH Liberty designs in the subset.
Buchanan's Lib has it beat by a longshot on design elements.
6800 is it boys and girls. That's my call.
The comment about buying 70 more and see if it's goes black is rediculous. It may exceed 6800 in ORDERS. I think many have been around long enough to know that those numbers are adjusted downwards MOST of the time and will be again.
Where it settles after adjustments are made could be surprising.
<< <i>Because they have a scrap rate that wanders. If all you can sell is 15,000 coins and you have a 5% to 20% scrap rate you dont make 15,000/.9 = 16666 coins just to find out you only had a 5% scrap and have to throw away 15000/.95 -16666 = 876 coins. If they struck 7000 uncs how many did they end up with? How do they know this in advance? The theory that they can produce 15,000 coins is not rational unless they want to have extra melt coins for scrap. Over 8,000 proofs is a very agressive high end assumption that I cant justify from the data. >>
Here's a question in regard to the coins that are rejected as poor quality or scrap. Instead of melting them, why can't they be used directly as planchets, either for the exact same coin, or for another in the same series?
<< <i>If you guys are thinking of returning nice proof buchs and finding replacements on ebay after a sellout you may want to search ebay availabitites now.One raw coins listed and three 69's listed in the ballpark of mint issue price , a couple NGC 70's around a grand and three 70 PCGS's at $1300+.If the proofs sell out soon you better be quick to find ebay coins .If you have raw coins that look like 70's I'd keep them.How often have Eric and 7/8 given poor advice? >>
I bought a couple of PCGS 70 proofs and MS back in October. There were plentiful then. Now, hardly at all. The last auction in this category was started on Jan. 3rd.
Only three PCGS 70 graded coins of each type are now available, though all Buy It Now.
Only two Van Buren's of the available seven on Ebay have bids, albeit not impressive so far, though they are not labeled as First Strike. The others are Buy It Now.
Most people are holding their breath. Short of an obscene asking price on BIN, or a need for fast cash, these won't be offered for auction until the bell rings.
Comments
It will be interesting to see how far the order report goes past 6,800. I dont think they struck any more. I think what they had on the first run is all there are. We shall know before too long.
Eric
Just curious, what is your hunch? Do you think that the Buch proofs will come in lower than the van b?
<< <i>Hmm...I think I might take the plunge and grab a proof Buch. >>
How come folks are not stocking up on these right now if they are likely keys?
<< <i>
<< <i>Hmm...I think I might take the plunge and grab a proof Buch. >>
How come folks are not stocking up on these right now if they are likely keys? >>
For me, it's a financial issue. I bet others are stretched a bit thin at the moment buying silver and the pucks, etc. Plus, I already have a unc buch.
The proof buch seems like a good under-the-radar buy to me at the moment.
<< <i>So no more proof Buchs can be struck in the year 2011? I thought they could mint more any time, up until one year from when they were first offered (or does that only apply to selling them?) >>
By law, coins of a given year may only be minted in that year. So once they run out of Buch proofs, that's it. You can't mint 2010 dated coins in 2011.
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>
<< <i>So no more proof Buchs can be struck in the year 2011? I thought they could mint more any time, up until one year from when they were first offered (or does that only apply to selling them?) >>
By law, coins of a given year may only be minted in that year. So once they run out of Buch proofs, that's it. You can't mint 2010 dated coins in 2011. >>
Is that also true in reverse, meaning coins dated 2011 cannot be minted in 2010? So for example all the 2011 silver eagles now being offered by Apmex were minted started Monday January 3rd 2011?
I think they will be as rare or rarer than proof VBs. This has been the story more or less from three separate dependable people that should know.
Eric
<< <i>
<< <i>
<< <i>So no more proof Buchs can be struck in the year 2011? I thought they could mint more any time, up until one year from when they were first offered (or does that only apply to selling them?) >>
By law, coins of a given year may only be minted in that year. So once they run out of Buch proofs, that's it. You can't mint 2010 dated coins in 2011. >>
Is that also true in reverse, meaning coins dated 2011 cannot be minted in 2010? So for example all the 2011 silver eagles now being offered by Apmex were minted started Monday January 3rd 2011? >>
Nobody has replied here to this mintage year question, so I'll start a new separate thread to ask about it.
we expect the numbers to get revisedd lower, as always, how much is the question.
They have been drying up on e-Bay. I just checked and there are only two PCGS pr70.
But we don't know how many were made, how many were returned, and how many were re-shipped returns.
Here's the mint stats from the beginning of BL and the changes between reports with uncirculateds first.
4,227 30 6,734 91 10,961 121
4,197 8 6,643 32 10,840 40
4,189 16 6,611 82 10,800 98
4,173 31 6,529 35 10,702 66
4,142 57 6,494 122 10,636 179
4,085 16 6,372 54 10,457 70
4,069 77 6,318 160 10,387 237
3,992 - 6,158 50 10,150 50
3,992 27 6,108 34 10,100 61
3,965 (29) 6,074 7 10,039 (22)
3,994 69 6,067 100 10,061 169
3,925 124 5,967 270 9,892 394
3,801 194 5,697 249 9,498 443
3,607 67 5,448 420 9,055 487
3,540 562 5,028 607 8,568 1,169
2,978 492 4,421 780 7,399 1,272
2,486 - 3,641 - 6,127
That's in about 34 weeks worth of sales or potential sales.
How many do they have left?
They've sold 10,961/15,000 (and that figure is said to be high because they don't account for returns properly)
<< <i>I must admit this may be the first time these are short struck, 7over8.
But we don't know how many were made, how many were returned, and how many were re-shipped returns.
Here's the mint stats from the beginning of BL and the changes between reports with uncirculateds first.
4,227 30 6,734 91 10,961 121
4,197 8 6,643 32 10,840 40
4,189 16 6,611 82 10,800 98
4,173 31 6,529 35 10,702 66
4,142 57 6,494 122 10,636 179
4,085 16 6,372 54 10,457 70
4,069 77 6,318 160 10,387 237
3,992 - 6,158 50 10,150 50
3,992 27 6,108 34 10,100 61
3,965 (29) 6,074 7 10,039 (22)
3,994 69 6,067 100 10,061 169
3,925 124 5,967 270 9,892 394
3,801 194 5,697 249 9,498 443
3,607 67 5,448 420 9,055 487
3,540 562 5,028 607 8,568 1,169
2,978 492 4,421 780 7,399 1,272
2,486 - 3,641 - 6,127 >>
THANKS for the great post!!
<< <i>I'm surprised with the info that ericj96 just posted we are not hearing about a rush to purchase the few remaining proof Buchs..... everyone must be too busy trying to chase down the derned hockey pucks.. >>
Well I got my pucks. Now should I pull the trigger on some more Buchs? What say you all?
<< <i>It's very hard to know what to do with these. I've got three very nice ones w/five days left for returns. As MsM says, they could be selling into Sept. HOW many did they Mint?? Looks like even if they are the Lib. subset key, it won't be by much. >>
It might surprise you. The Van Buren proof mintage dropped by about 500 (to around 6800) when the "final final" figures were released, and the coin is already selling at over $1100 raw. The Buchanan proof could easily wind up in the 6300-to-6400 range and sell at a comparable price or higher. At $160 over melt, there isn't much risk in keeping them.
When deciding how many coins of each design to strike, I don't think the Mint took into account that there would be additional demand for the "Liberty" subset. For planning purposes, the Buchanan was probably treated like any other First Spouse coin. This can be seen in the 2010 mintage limits, in which the Buchanan was lumped in with the Fillmore and Pierce (15,000 limit), and only the Mary Todd Lincoln mintage limits were raised to 20,000 to reflect the popularity of her husband. So when Buchanan orders exceeded expectations, the coin sold out early. (A similar thing happened with the Jackson, which sold out a few weeks before the customary end date.)
My Adolph A. Weinman signature
<< <i>
<< <i>...So when Buchanan orders exceeded expectations, the coin sold out early. (A similar thing happened with the Jackson, which sold out a few weeks before the customary end date.) >>
So, in effect, the Jackson's were short-struck.
<< <i>I got the word there were no more proof bucks struck. The back order was a transfer delay from mint inventory to PB. What they struck they struck and no more were made. Now its back to how many did they think they needed at the start and how far in error is the weekly sales report do to returned and canceled coins that have not come off the report.
I think they will be as rare or rarer than proof VBs. This has been the story more or less from three separate dependable people that should know.
Eric >>
The question I have is, how many proofs did they strike? .. 8k, 9k... I may be wrong & only time will tell, that they struck a 60 - 40% ratio of proof to unc & that they did produce all 15k.
<< <i>They struck about 3500 uncs on the first run and then over 3000 more uncs on the second run in October. the chance of the proof buck being higher than about 8,000 coins is remote. >>
If your gut feeling is accurate, then the proofs could be as high as 8.5K & why would the mint cut short their authorized run by only 500 coins? "Does not compute."
Over 8,000 proofs is a very agressive high end assumption that I cant justify from the data.
<< <i>Because they have a scrap rate what wanders. If all you can sell is 15,000 coins and you have a 5% to 20% scrap rate you dont make 15,000/.9 = 16666 coins just to find out you only had a 5% scrap and have to throw away 15000/.95 -16666 = 876 coins. If they struck 7000 uncs how many did they end up with? How do they know this in advance? The theory that they can produce 15,000 coins is not rational unless they want to have extra melt coins for scrap.
Over 8,000 proofs is a very agressive high end assumption that I cant justify from the data. >>
Thanks for the explanation ... I suppose only time will tell, but at the rate they are selling, it will take a while before we know for sure. ( Just to cover all the bases ... I manged to pick up an MS & PR PCGS 69 from my brother in law..who needed some X'mas $$$ for $750 each.
<< <i>You can try to game out how soon a a sellout might occur and how many coins are left based on a strike of 15,000 but does anyone here really think they struck all 15,000 coins? I say not a chance. >>
I put 10,961/15,000 in as a reference and as a short way of saying if they are short struck, they've already sold almost 11,000... we could be hitting the limits of what was struck any time.
4,227 Unc. sold and 6,734 sold.
I will pose this for pondering:
If they minted 3,500 then 3,000 Uncirc. for a total of 6,500, and they mint knows that they sell more Proofs, then why wouldn't they have minted say 4,500 and 4,000 Proofs (6,500 + 8,500 = 15,000) ??
Buchanan’s Liberty Proof 6,734...... +91
Buchanan’s Liberty Uncirculated 4,227...... +30
<< <i>They struck about 3500 uncs on the first run and then over 3000 more uncs on the second run in October. the chance of the proof buck being higher than about 8,000 coins is remote. >>
Eric, on the second run in October did they strike any additional proofs?
If not, then based on the initial run of 3500 uncs they likely struck fewer than 7000 proofs, and that may be all the proofs there are (or will be).
My Adolph A. Weinman signature
i believe eric was saying that there has been confirmation that NO additional proofs were run - beyond the initial run.
my opinion is that there are fewer than 6800 proofs-we will know when the sales numbers are adjusted.
Of course, as Overdate pointed out, the VanBs were adjusted down by 500. The Buchs could be adjusted by more???
As to the proof breaks, it seems that the latter Buchs had very few proof breaks, so perhaps many of the proof break returns have already been accounted for.
The VanB proofs, as noted, are already above $1100 AND that's w/the uncertainty of their key status due to the Buchs. If the Buch final, finals come in lower what will they go for? Conversely, if they come in higher, how much of a boost will that provide for the Buchs?
As was also pointed out, the Buchs should remain on sale until Sept. per the usual rotation schedule.
I have three very, very nice Buch proofs sitting here in my office w/5 days left to return. What to do??????????? So many variables. Keep, or send back and hopefully be able to get more if the Buchs go red in the near future????
3826 unc. Van Buren vs. as many as 6500 Buchanan unc. makes for a *huge* difference in the overall mintage for each design.
My Adolph A. Weinman signature
Now they have a normal ratio again to run until things sell out or they end sales normally.
I will be surprised if they only did 6800 proof when sales near the end of november were 6400. They had 5 weeks to do another run but didn't and they decided not to with only 400 coins and 9 months of sales left?
Anyway I hope it works out for you all, but I still think the unc are the better coins in the long run. Sales of proofs in the entire series have kept dropped off more than the unc coins, so the unc coins may have a better base at this point.
The Vb unc coin is only 683 coins or so off the bottom at Julia, while the proof VB is 1956 coins off the bottom of the Tyler proof. That is a big difference.
The vb unc is much closer to the key than the proof is, and even if the buch ends at 6500 by some miracle that is still 1656 higher.
So if the proofs are all about being prettier, the sales show that has worked against them perhaps.
<< <i>
I have three very, very nice Buch proofs sitting here in my office w/5 days left to return. What to do??????????? So many variables. Keep, or send back and hopefully be able to get more if the Buchs go red in the near future???? >>
Buy 70 of them from the mint website. At that point, you should be able to see if 6800 is indeed the limit!
Seriously though....If it were me, I'd probably do a compromise decision and send back half of them....so you won't be hit as badly if they don't sell out. Watch the mint like a hawk and grab some on ebay as soon as they sell out.
By the end of November the Mint had a bunch of other things on their plate (2011 annual sets and 2011 bullion Gold and Silver Eagles for early distribution plus the 5-oz. quarters), and the Buchanan proofs were selling very slowly. So striking additional proofs may not have been high on their priority list.
My Adolph A. Weinman signature
Buchanan's Lib has it beat by a longshot on design elements.
6800 is it boys and girls. That's my call.
The comment about buying 70 more and see if it's goes black is rediculous. It may exceed 6800 in ORDERS. I think many have been around long enough to know that those numbers are adjusted downwards MOST of the time and will be again.
Where it settles after adjustments are made could be surprising.
<< <i>Because they have a scrap rate that wanders. If all you can sell is 15,000 coins and you have a 5% to 20% scrap rate you dont make 15,000/.9 = 16666 coins just to find out you only had a 5% scrap and have to throw away 15000/.95 -16666 = 876 coins. If they struck 7000 uncs how many did they end up with? How do they know this in advance? The theory that they can produce 15,000 coins is not rational unless they want to have extra melt coins for scrap. Over 8,000 proofs is a very agressive high end assumption that I cant justify from the data. >>
Here's a question in regard to the coins that are rejected as poor quality or scrap. Instead of melting them, why can't they be used directly as planchets, either for the exact same coin, or for another in the same series?
<< <i>If you guys are thinking of returning nice proof buchs and finding replacements on ebay after a sellout you may want to search ebay availabitites now.One raw coins listed and three 69's listed in the ballpark of mint issue price , a couple NGC 70's around a grand and three 70 PCGS's at $1300+.If the proofs sell out soon you better be quick to find ebay coins .If you have raw coins that look like 70's I'd keep them.How often have Eric and 7/8 given poor advice? >>
I bought a couple of PCGS 70 proofs and MS back in October. There were plentiful then. Now, hardly at all. The last auction in this category was started on Jan. 3rd.
Only three PCGS 70 graded coins of each type are now available, though all Buy It Now.
Only two Van Buren's of the available seven on Ebay have bids, albeit not impressive so far, though they are not labeled as First Strike. The others are Buy It Now.
Most people are holding their breath. Short of an obscene asking price on BIN, or a need for fast cash, these won't be offered for auction until the bell rings.