<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
According to Coin World, FideliTrade, CNT, MTB, Jack Hunt, and APMEX bought when silver was $29.33 per ounce, plus the $9.75 premium per coin, making their sets cost $782.00 While A-mark and Gold Center bought at $29.88 per ounce or $795.75 per set. There is still some room left before that would happen.
<< <i>According to Coin World, FideliTrade, CNT, MTB, Jack Hunt, and APMEX bought when silver was $29.33 per ounce, plus the $9.75 premium per coin, making their sets cost $782.00 While A-mark and Gold Center bought at $29.88 per ounce or $795.75 per set. There is still some room left before that would happen. >>
Ooops. forgot about the $9.75 premium.
Some room, but not loads of room.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions. >>
You know they are going to rape us on those coins as they only have 135,000 of them to sell.
<< <i>Well...last night I finally opened up what turned out to be a load of absolute garbage from Fidelitrade.
All their lame bubble wrap envelopes were still taped in place, so all the damage must have occured before they were even packed.
Long story short, 2 coins have such major rim hits that the obverse design in that area is actually bulged out. Another two have moderate to severe rim scratches that are plainly visible without any need for magnification, and the last one is just plain scratched. It's a real crime too because at least three of the coins look like they might have been PL otherwise.
My wife had it right when she asked, "What idiots! Did they have monkeys handling them?"
At this point, I don't consider this set worth much more than melt. So that 33,000 mintage number is really going to be lower when you factor in some portion of DOA Fidelitrade sets.[/q
Well that REALLY makes me look forward to tomorrow's delivery >>
So my Fidelitrade coins just arrived. Crappy packaging, yes but maybe I got lucky. My coins look GREAT! Off to PCGS they go!
Successful BSTs with adriana, barrytrot, Bochiman, Dabigkahuna, Modern Coin Mart, oilstates2003, terburn88, THEGENERAL
<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions. >>
I posed this very question a few weeks back on the GIM2 boards.... sparked much debate.
If the price hits 50/oz, they would theoretically still have to sell at a fixed price. But that is not how bullion works. You sell at a margin (%) above SPOT, and buy at a % below SPOT (or some variation of that, with a few % points spread).
My thoughts were that APMEX was still holding their stock for this reason, i.e. they wanted to figure out if they can sell it like Bullion, i.e. variable = spot plus maximum mint cap), or must read the agreement literally, i.e. COST plus maximum MINT cap.
I would love to buy a set at 937 etc... when silver is 100/oz...
<< <i>Silver is at $31.75 per ounce! I am not a metals guy, can somebody explain to me what is going on today?? >>
The squeeze is on, we are in backwardation... there is a shortage (at least in the short term right now). We had this in 2008. This time, we may see another large move.
<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions. >>
I posed this very question a few weeks back on the GIM2 boards.... sparked much debate.
If the price hits 50/oz, they would theoretically still have to sell at a fixed price. But that is not how bullion works. You sell at a margin (%) above SPOT, and buy at a % below SPOT (or some variation of that, with a few % points spread).
My thoughts were that APMEX was still holding their stock for this reason, i.e. they wanted to figure out if they can sell it like Bullion, i.e. variable = spot plus maximum mint cap), or must read the agreement literally, i.e. COST plus maximum MINT cap.
I would love to buy a set at 937 etc... when silver is 100/oz... >>
Interesting for sure. I agree with you. APMEX, and the others may be waiting to try to see if the Mint will let them sell at variable prices instead of a fixed price.
I believe that fixed price was set by the Mint assuming they would all sell them immediately and at the same time.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
My FT set arrived today unannounced. No email, no tracking, nada. Four out of five will go in for grading tomorrow (I'm driving up for the Collector's Friday). The Grand Canyon has a planchet flaw - very minor, but enough to spoil the grade. All in all, not bad as far as quality goes, but horrendous packaging...
<< <i>My FT set arrived today unannounced. No email, no tracking, nada. Four out of five will go in for grading tomorrow (I'm driving up for the Collector's Friday). The Grand Canyon has a planchet flaw - very minor, but enough to spoil the grade. All in all, not bad as far as quality goes, but horrendous packaging... >>
Can I ask what you're putting them in on their way to PCGS. Leaving in the bubble wrap?
Successful BSTs with adriana, barrytrot, Bochiman, Dabigkahuna, Modern Coin Mart, oilstates2003, terburn88, THEGENERAL
<< <i>Can I ask what you're putting them in on their way to PCGS. Leaving in the bubble wrap? >>
That is a very good question. I am going to call PCGS today and ask them if oversized flips will be available tomorrow for submissions. I've already put each in another bubble wrap bag for extra protection on the ride up.
Apmex, jack hunt, and CNT need to sell out soon. Tired of waiting want to get some flips rolling. We're going to be buying these 2010 coins in Q4 2011...
Did they send you an email? My checked cleared on the 10th, so that should be about 17 days for me. Of course, that is the one week we will be gone, and no one here to sign!
Did they send you an email? My checked cleared on the 10th, so that should be about 17 days for me. Of course, that is the one week we will be gone, and no one here to sign! >>
My Fidelitrade units just came in. I have not looked at them up-closely - but they look fine through the bubble wrap and I will soon have to get the airtites for them and inspect detail. The packaging held up very well as a flat envelope - no bends and there were no edge clashes so hope y'all have the same luck as I did. No gripes from yours truly!
<< <i>Fidelitrade coins showed up. sad packaging to say the least. >>
Did you buy the packaging or the coins? Kinda weird that you would only comment on how they were packed and not what the coins looked like.....My FT coins were the best of the group
<< <i>My MTBs arrived today but I'm afraid to open the box. They're sliding around inside. Does anyone remember how they're packaged inside the box? >>
Capsules in envelopes taped to the inside of the shipping box
I don't know about PVC in bubblewrap, but I'd assume the worst. For long term storage, get 'em out of that stuff! Safe plastic capsules or flips are cheap.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
Supposedly bubble wrap is polyethylene and does not contain PVC. I have heard that plastics can cause hazing. That is what I am worried about with the bubble wrap. I'm not sure what kind of plastic it is that causes the hazing though.
Received the DG set today. Very, very, very good packaging (Amark the best so far, I think).
2 x 5 x 8" outer box filled with packing peanuts, inner box 3 1/2 x 3 1/2" with cushioned bottom, coins in flips stacked in box. Minor scratches on flip surfaces and I don't care. You can always get another flip.
Appearance quality of coins is excellent, no dings, bruises, scratches.
<< <i>An NGC 70 is no big deal to me. They grade lose on everything >>
I dont know guys - something up with NGC
I submitted 10 pieces, all appeared 67 or better.
According to customer service, none went better than 62.
I've been in this game for years, if I see that this is true upon receipt.........NGC put absolutely no time into grading these pucks.....they are trashing grades on these things.....
<< <i>To keep us from falling asleep, here's an interesting article from Coin Update News about the pucks and which APs have distributed their allotments.
A-Mark PCGS CH BU Sets - $1525 for sealed boxes or open
Fresh raw sets $1400 (No damaged or horrible coins)
NGC Gem Unc ER Sets $1525 Not ER $1475 NGC MS68ER Sets $1650 Not ER $1550 NGC MS69ER Sets $3000 Not ER $2600
Call George to confirm, no PM's. 1 800 362 9004 EXT 355 We've been quite busy so if you get voicemail try pressing zero for an operator and ask them to page George.
FedEx check sent on receipt of coins if requested.
Comments
<< <i>DG gets my vote as far as the easiest to acquire from.
I got the call last Thursday just as I was about to leave the house to go to the bank.
About 20 minutes later I had the money wired to them.
The Pucks are scheduled to arrive UPS tomorrow. >>
I did the same as you. Wired 20 min after the call last Thurs. I called DG, my pucks are out for delivery today.
<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions.
While A-mark and Gold Center bought at $29.88 per ounce or $795.75 per set. There is still some room left before that would happen.
<< <i>According to Coin World, FideliTrade, CNT, MTB, Jack Hunt, and APMEX bought when silver was $29.33 per ounce, plus the $9.75 premium per coin, making their sets cost $782.00
While A-mark and Gold Center bought at $29.88 per ounce or $795.75 per set. There is still some room left before that would happen. >>
Ooops. forgot about the $9.75 premium.
Some room, but not loads of room.
<< <i>
<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions. >>
You know they are going to rape us on those coins as they only have 135,000 of them to sell.
You know the routine; bend over.
<< <i>
<< <i>
<< <i>Well...last night I finally opened up what turned out to be a load of absolute garbage from Fidelitrade.
All their lame bubble wrap envelopes were still taped in place, so all the damage must have occured before they were even packed.
Long story short, 2 coins have such major rim hits that the obverse design in that area is actually bulged out. Another two have moderate to severe rim scratches that are plainly visible without any need for magnification, and the last one is just plain scratched. It's a real crime too because at least three of the coins look like they might have been PL otherwise.
My wife had it right when she asked, "What idiots! Did they have monkeys handling them?"
At this point, I don't consider this set worth much more than melt. So that 33,000 mintage number is really going to be lower when you factor in some portion of DOA Fidelitrade sets.[/q
Well that REALLY makes me look forward to tomorrow's delivery
So my Fidelitrade coins just arrived. Crappy packaging, yes but maybe I got lucky. My coins look GREAT! Off to PCGS they go!
<< <i>
<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions. >>
I posed this very question a few weeks back on the GIM2 boards.... sparked much debate.
If the price hits 50/oz, they would theoretically still have to sell at a fixed price. But that is not how bullion works. You sell at a margin (%) above SPOT, and buy at a % below SPOT (or some variation of that, with a few % points spread).
My thoughts were that APMEX was still holding their stock for this reason, i.e. they wanted to figure out if they can sell it like Bullion, i.e. variable = spot plus maximum mint cap), or must read the agreement literally, i.e. COST plus maximum MINT cap.
I would love to buy a set at 937 etc... when silver is 100/oz...
<< <i>Silver is at $31.75 per ounce! I am not a metals guy, can somebody explain to me what is going on today?? >>
The squeeze is on, we are in backwardation... there is a shortage (at least in the short term right now). We had this in 2008. This time, we may see another large move.
<< <i>
<< <i>
<< <i>...and silver is blasting right through $31/oz.....cuts that puck premium down a tad >>
So here is a question....the APs are supposed to be selling these at no more than a 10% markup from what they paid the Mint.
So, hypothetically, lets say this run on silver keeps going. Does this mean the APs would essentially be forced to sell them at or below spot?
Things would get crazy.
I think that the Mint is betting on silver making a run (well, it already is!). That's why we haven't seen a release date. They're waiting for a run so they can charge a nice premium for the collector versions. >>
I posed this very question a few weeks back on the GIM2 boards.... sparked much debate.
If the price hits 50/oz, they would theoretically still have to sell at a fixed price. But that is not how bullion works. You sell at a margin (%) above SPOT, and buy at a % below SPOT (or some variation of that, with a few % points spread).
My thoughts were that APMEX was still holding their stock for this reason, i.e. they wanted to figure out if they can sell it like Bullion, i.e. variable = spot plus maximum mint cap), or must read the agreement literally, i.e. COST plus maximum MINT cap.
I would love to buy a set at 937 etc... when silver is 100/oz... >>
Interesting for sure. I agree with you. APMEX, and the others may be waiting to try to see if the Mint will let them sell at variable prices instead of a fixed price.
I believe that fixed price was set by the Mint assuming they would all sell them immediately and at the same time.
<< <i>
<< <i>I am sure amark is just about done. My order # was 3121( I believe) and I received them on Monday. Beautiful coins by the way. I took
pictures and put them on ebay for $3495 just because they were offering free listings but plan on holding them as I doubt anyone will pay
that kind of money. My Fidelitrade and MTB orders are going along with them both having cashed my checks. These 2 sets will be going to NGC
for grading,
My A-mark order shipped today. The order # is 35XX. It was 34XX prior to correcting an address error. My FT order is due here tomorrow.
I knew it would happen.
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>My FT set arrived today unannounced. No email, no tracking, nada. Four out of five will go in for grading tomorrow (I'm driving up for the Collector's Friday). The Grand Canyon has a planchet flaw - very minor, but enough to spoil the grade. All in all, not bad as far as quality goes, but horrendous packaging... >>
Can I ask what you're putting them in on their way to PCGS. Leaving in the bubble wrap?
<< <i>Can I ask what you're putting them in on their way to PCGS. Leaving in the bubble wrap? >>
That is a very good question. I am going to call PCGS today and ask them if oversized flips will be available tomorrow for submissions. I've already put each in another bubble wrap bag for extra protection on the ride up.
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>My MTB set is scheduled to ship on 2/28 >>
Did they send you an email? My checked cleared on the 10th, so that should be about 17 days for me. Of course, that is the one week we will be gone, and no one here to sign!
There's no telling if yours will go on the 28th or sooner or later.
If you get an attempted delivery while you are away, you can always call ups and havve them hold it.
<< <i>
<< <i>My MTB set is scheduled to ship on 2/28 >>
Did they send you an email? My checked cleared on the 10th, so that should be about 17 days for me. Of course, that is the one week we will be gone, and no one here to sign!
No I emailed the man I ordered from.
<< <i>CGS/NGC would bag them for damage.
NGC could put a details label on them. I think you can request it, thought never did it with NGC. >>
PCGS will slab them also as Genuine with the damage code noted on the holder.
<< <i>Supposedly a NGC MS70 ATB has surfaced, score pending. >>
Where is this news coming from, and what does score pending mean, the submitter thought it was a 70 and is awaiting confirmation?
cart - horse?
At $1.60 ea, this is the cheapest I've found:
Air-Tites
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
sad packaging to say the least.
<< <i>Does anyone know the expected percentage of Pcgs MS69's one could expect if sending in say 10 or 100? >>
Hard to say with out Pop counts. Supposedly NGC will have something this week but wouldn't count on it. I guarantee one MS70 on there
Maybe a tad more information, just a tad... Is it yours, a friends, privileged information coming directly from the grading room?
My MTBs arrived today but I'm afraid to open the box. They're sliding around inside. Does anyone remember how they're packaged inside the box?
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>Fidelitrade coins showed up.
sad packaging to say the least. >>
Did you buy the packaging or the coins? Kinda weird that you would only comment on how they were packed and not what the coins looked like.....My FT coins were the best of the group
<< <i>My MTBs arrived today but I'm afraid to open the box. They're sliding around inside. Does anyone remember how they're packaged inside the box? >>
Capsules in envelopes taped to the inside of the shipping box
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
Question for long term holders, are you doing a acetone dip prior to slabbing or putting in airtites? Do bubble wraps have PVC?
<< <i>We expect some DG quality reports..
Here ya go...
Received the DG set today. Very, very, very good packaging (Amark the best so far, I think).
2 x 5 x 8" outer box filled with packing peanuts, inner box 3 1/2 x 3 1/2" with cushioned bottom, coins in flips stacked in box. Minor scratches on flip surfaces and I don't care. You can always get another flip.
Appearance quality of coins is excellent, no dings, bruises, scratches.
Good job DGI!!!!!
<< <i>An NGC 70 is no big deal to me. They grade lose on everything >>
I dont know guys - something up with NGC
I submitted 10 pieces, all appeared 67 or better.
According to customer service, none went better than 62.
I've been in this game for years, if I see that this is true upon receipt.........NGC put absolutely no time into grading these pucks.....they are trashing grades on these things.....
<< <i>To keep us from falling asleep, here's an interesting article from Coin Update News about the pucks and which APs have distributed their allotments.
http://news.coinupdate.com/update-and-clarification-on-the-america-the-beautiful-silver-bullion-coins-0683/ >>
What is the difference between PCGS GEM BU and PCGS Choice BU Slabs?
Read this from coasterfan
Miles
A-Mark PCGS CH BU Sets - $1525 for sealed boxes or open
Fresh raw sets $1400 (No damaged or horrible coins)
NGC Gem Unc ER Sets $1525 Not ER $1475
NGC MS68ER Sets $1650 Not ER $1550
NGC MS69ER Sets $3000 Not ER $2600
Call George to confirm, no PM's. 1 800 362 9004 EXT 355
We've been quite busy so if you get voicemail try pressing zero for an operator and ask them to page George.
FedEx check sent on receipt of coins if requested.
PRICES SUBJECT TO CHANGE