25TH ANNIVERSARY AE 5 COIN SILVER SET 5 $299.95 $1,499.75 5 units backordered. Expected to ship on 11/12/2011.
Just wondering if I can rest safe that I made the cutoff, or if the "on hold" and "5 units backordered" things are something I should be concerned about. Anyone know?
25TH ANNIVERSARY AE 5 COIN SILVER SET 5 $299.95 $1,499.75 5 units backordered. Expected to ship on 11/12/2011.
Just wondering if I can rest safe that I made the cutoff, or if the "on hold" and "5 units backordered" things are something I should be concerned about. Anyone know?
Thanks >>
You're safe. Cutoff time for waitlist was around 5 PM
Why is this auction price double the others? He doesn't even indicate it will be in a sealed Mint box.
What am I missing here? >>
he got lucky with this listing >>
He'll be even luckier if he actually gets paid >>
ebayers for a short term .. prices may peak This weekend.. but still much higher >>
If they "peak" why would you say theyll get higher? peak means theyre at their highest. And I certainly do not think this weekend will be the peak for these.
<< <i>What does anyone think the resale price for one of these sets will be at a dealer's table in coinshows within the next few months or is that a number that is yet to shake out. My thought is possibly $550 -$600. Any thoughts? >>
$600 would be the lowest I expect local show dealers would ask for, settling for maybe $550. But the set could go viral, in which case the sky's the limit. >>
The 1995-W (mintage 30,100) is worth $2800 today. The 2011 Reverse Proof (mintage 100,000) is 3.322x more in quantity, or 3.322 less in value than 1995-W. Using the ratio of 3.322 for calculation, the 2011 Reverse Proof should be at $842. But I'd say the 2011 Anniversary set of 5 coins will settle for at least $800 per set or $4K per box of 5. Am I being too optimistic here?
That's hard to say. Presale prices are all over the place. 3 have recently closed for $1500+ / set, while the average sale appears to be around $700. Boxes of 5 have closed in the low $3000's already. And the number of listings is over 300 and rising. The discrepancy in prices could be the result of buyers bidding on the auctions of sellers that they trust and have done biz with before. There's still quite a bit of uncertainty with these in terms of whether or not the Mint will respond to collector complaints. I suspect they will not make any more of these sets and will not lower the HH limit. This is just one of many offerings they're trying to complete before the end of the year. I suspect that was the reason for the HH limit they chose - they wanted a quick sellout to be able to move on to the next offering. They've had a remarkably aggressive production schedule this year and, all things considered, have done a pretty good job moving product. You've got to give them that.
"The only place success comes before work is in the dictionary."
<< <i>There's still quite a bit of uncertainty with these in terms of whether or not the Mint will respond to collector complaints. >>
Really? I hadn't heard this before. The sale seems to be a done deal and I believe they'll start shipping mid next week. >>
There's the perception that if enough people scream long enough and loud enough that the Mint will reconsider their options. Personally, I won't take anything for granted until I actually have these sets in hand.
"The only place success comes before work is in the dictionary."
<< <i>There's still quite a bit of uncertainty with these in terms of whether or not the Mint will respond to collector complaints. >>
Really? I hadn't heard this before. The sale seems to be a done deal and I believe they'll start shipping mid next week. >>
There's the perception that if enough people scream long enough and loud enough that the Mint will reconsider their options. Personally, I won't take anything for granted until I actually have these sets in hand. >>
kinda like OCCUPY WALL STREET right? whine till you get your way.
I think what is done is done. I don't understand all this "its not fair" entitlement that goes on in this country these days. Everyone had a fair shot at getting these. Granted it was a pain in the ba77s. The only thing the mint did was have a slow system, and set a low number. People that are complaining should just boycott the big dealers. And in reality its not even their fault. Its the greed of non-collectors and collectors that ordered more then they wanted to sell to make a quick buck (and in these hard economic times, who wouldn't?)
So, to all the people calling the mint and "complaining" they did not get one. What are you really solving??? Fairness??
I'm sorry, but there are many "things" I want and can't get. And that maybe for many reasons. And there are "things" I get because I work hard to get (however that maybe). I spent 4hrs trying to get the sets I wanted, and thats what i ordered. So how would it be "fair" to me to not get those sets, because someone else did not get one from the mint??? Boohoo!! You can still get one or more you just will have to pay what you are willing to pay. I know if I missed the boat thats what I would have to do. And if it was higher then my limit, life goes on....
Sorry for the rant..... it just sickens me, that even in a hobby there is this "entitlement", "its not fair" BS
<< <i>I think what is done is done. I don't understand all this "its not fair" entitlement that goes on in this country these days. Everyone had a fair shot at getting these. Granted it was a pain in the ba77s. The only thing the mint did was have a slow system, and set a low number. People that are complaining should just boycott the big dealers. And in reality its not even their fault. Its the greed of non-collectors and collectors that ordered more then they wanted to sell to make a quick buck (and in these hard economic times, who wouldn't?)
So, to all the people calling the mint and "complaining" they did not get one. What are you really solving??? Fairness??
I'm sorry, but there are many "things" I want and can't get. And that maybe for many reasons. And there are "things" I get because I work hard to get (however that maybe). I spent 4hrs trying to get the sets I wanted, and thats what i ordered. So how would it be "fair" to me to not get those sets, because someone else did not get one from the mint??? Boohoo!! You can still get one or more you just will have to pay what you are willing to pay. I know if I missed the boat thats what I would have to do. And if it was higher then my limit, life goes on....
Sorry for the rant..... it just sickens me, that even in a hobby there is this "entitlement", "its not fair" BS >>
even though its a label thing I think the bullion coin will be the hardest graded for a complete 70 set... and like posted before, possibilities the burnished W and proof W's being filled with previous release returns... could be interesting
I want my box graded too, since it was rather pricy.
<<kinda like OCCUPY WALL STREET right? whine till you get your way. >>
Please tell it to your parents and/or grandparents, who likely "whined" about Vietnam...
...or maybe your black co-workers, whose parents and/or grandparents likely "whined" about segregation.
Yeah...this is just the land of milk and honey for all, isn't it? Just ignore any and all injustice and it magically disappears on its own...maybe after a few decades...but hey, you've just got to be patient.
Just thought I'd say this since we're having another political moment on a coin forum.
...And now back to bashing the Post Office, Democrats, Labor Unions, Social Security and Obama...
I Am Just Wondering,,,How Could The Mint be SOLD Out,, 100,000 Sets sold,, In About 5 hours,, It Will Be Interesting To see Just How Many Individuals Will Be selling These Sets On ebay......... Veeeerrrrryyyyy Interesting... Appears to be A Wal-Mart sale To me......
<< <i>I Am Just Wondering,,,How Could The Mint be SOLD Out,, 100,000 Sets sold,, In About 5 hours,, It Will Be Interesting To see Just How Many Individuals Will Be selling These Sets On ebay......... Veeeerrrrryyyyy Interesting... Appears to be A Wal-Mart sale To me...... >>
I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell.
If unsealed single set is selling for $700 and maintain the price for a duration of 30-60 days, I believe boxes of 5 will be broken up to be sold as single. By doing this, the owner can choose to keep one best looking set for himself.
I still can not believe 100,000 sets were gone in such a short time. For 100,000 sets to be sold in 6 hours, 16, 666 sets have to be sold in 1 hour or 55 orders per minute with 5 sets per order. Now, processing 55 orders per minute is not a small task.
Let's also assume that each person placed an order for 5 sets, then the Mint only needed 20,000 persons/collectors/dealers to sell 100K sets. If the collector base of ASE is estimated to be 200,000, then 80% or 180,000 collectors were left out of the deal. But only 100K of the key coin, Reverse Proof, are available. Therefore, only 1 of 2 collectors will be able to acquire the key coin in the end.
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
Perhaps. I know my original plan was to order multiple single orders but it only took me about five minutes to figure out that I had better just go for the max.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
I too believe that the higher premiums will come out of the sealed single sets. Many people had the thought that they may not be able to get their full allotment if they decided to get their sets by ordering singles so the majority of the sealed boxes in the market place will probably be for 3 or more per box. People werent willing to risk being left out in the cold so they ordered the maximum allotment. Single sealed boxes IMO will command a much much bigger premium because there will not be many out there. Also the average Joe that wants to get a chance for grading a unsearched set is more than likely to buy single or double boxes.
Im not sure why some people with fast connections were having a hard time getting through. My best guess is that they were not using the Quick Checkout option which essentially cuts out the great majority of the checkout process. For the future people should really try the quick checkout option. I have a average connection and was able to order the following:
All orders were done using the quick checkout method. Once i finished each order i clicked on the continue shopping link and clicked add on the 25th anniersary sets to add more sets
<< <i> IIm not sure why some people with fast connections were having a hard time getting through. My best guess is that they were not using the Quick Checkout option which essentially cuts out the great majority of the checkout process. For the future people should really try the quick checkout option. I have a average connection and was able to order the following:
All orders were done using the quick checkout method. Once i finished each order i clicked on the continue shopping link and clicked add on the 25th anniersary sets to add more sets >>
What I experienced is that once you were inside the site you could navigate and get multiple orders done as you say. The problem was going from the usmint.gov startup page to the online shopping link. Once you got there it was mostly a matter of time to get it done.
The real big bux are going to go for the ms and proof 70 sets with all the bells and whistles. First strike 25th anniversary, prooflike finish. Small s, clear s, blobbed w, etc. It will happen.
I still can not believe 100,000 sets were gone in such a short time. For 100,000 sets to be sold in 6 hours, 16, 666 sets have to be sold in 1 hour or 55 orders per minute with 5 sets per order. Now, processing 55 orders per minute is not a small task.
Of course they can process this. Rock concerts sell out in minutes.
Since most orders all 5, they probably took somewhere between 25,000 and 50,000 orders. Thats less than 10,000 per hour mostly on the internet.
Does any have "wait listed" showing as their status on their mint account for their order?
I got my order in within 2 hours of going on sale and in my account on the mint my order is on hold, ship date 11/13 and cancel box is still there. By brother ordered about 6:00pm when the set said it was wait listed but his status is on hold, ship date of 11/14 and no cancel box.
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
Here is the crazy thing. None of those opened boxes will ever get the 25th ann. label or first strike. This is going to make those even rarer in my opinion.
<< <i><< I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets. >>
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
Here is the crazy thing. None of those opened boxes will ever get the 25th ann. label or first strike. This is going to make those even rarer in my opinion. >>
Dude...I was just going to type the exact same statement....a LOT of opened boxes are being sold......many less 25th labels.....
<< <i>If unsealed single set is selling for $700 and maintain the price for a duration of 30-60 days, I believe boxes of 5 will be broken up to be sold as single. By doing this, the owner can choose to keep one best looking set for himself.
I still can not believe 100,000 sets were gone in such a short time. For 100,000 sets to be sold in 6 hours, 16, 666 sets have to be sold in 1 hour or 55 orders per minute with 5 sets per order. Now, processing 55 orders per minute is not a small task.
Let's also assume that each person placed an order for 5 sets, then the Mint only needed 20,000 persons/collectors/dealers to sell 100K sets. If the collector base of ASE is estimated to be 200,000, then 80% or 180,000 collectors were left out of the deal. But only 100K of the key coin, Reverse Proof, are available. Therefore, only 1 of 2 collectors will be able to acquire the key coin in the end. >>
Save the math....not 16,666/hour....try 25,000
Mint News Blog:
The sets went on sale yesterday October 27, 2011 at 12:00 Noon ET. As expected, it was extremely difficult for customers to place orders by website or phone. The US Mint indicated that they received orders for approximately 25,000 sets within the first hour. Around 4:30 PM ET, the US Mint posted the “waiting list notice” on the online product page, indicating that orders had been received for the entire 100,000 production limit.
<< <i>Here is the crazy thing. None of those opened boxes will ever get the 25th ann. label or first strike. This is going to make those even rarer in my opinion. >>
If you can't get both labels on the two rarest coins, which label would command the highest premium- F/S or Anniversary label?
Comments
According to the Mint's website, my order says:
Order number: 383439xx
Order Date: 10/27/2011 at 01:58 PM
Order Status: Your order request is on hold.
25TH ANNIVERSARY AE 5 COIN SILVER SET 5 $299.95 $1,499.75 5 units backordered. Expected to ship on 11/12/2011.
Just wondering if I can rest safe that I made the cutoff, or if the "on hold" and "5 units backordered" things are something I should be concerned about. Anyone know?
Thanks
<< <i>question about order status:
According to the Mint's website, my order says:
Order number: 383439xx
Order Date: 10/27/2011 at 01:58 PM
Order Status: Your order request is on hold.
25TH ANNIVERSARY AE 5 COIN SILVER SET 5 $299.95 $1,499.75 5 units backordered. Expected to ship on 11/12/2011.
Just wondering if I can rest safe that I made the cutoff, or if the "on hold" and "5 units backordered" things are something I should be concerned about. Anyone know?
Thanks >>
You're safe. Cutoff time for waitlist was around 5 PM
<< <i>
<< <i>
<< <i>Single set on ebay ending in about an hour:
$1500 presell
Even more impressive is the 3376 page views.
Why is this auction price double the others? He doesn't even indicate it will be in a sealed Mint box.
What am I missing here? >>
he got lucky with this listing
He'll be even luckier if he actually gets paid
ebayers for a short term .. prices may peak This weekend.. but still much higher
<< <i>
<< <i>
<< <i>
<< <i>Single set on ebay ending in about an hour:
$1500 presell
Even more impressive is the 3376 page views.
Why is this auction price double the others? He doesn't even indicate it will be in a sealed Mint box.
What am I missing here? >>
he got lucky with this listing
He'll be even luckier if he actually gets paid
ebayers for a short term .. prices may peak This weekend.. but still much higher >>
If they "peak" why would you say theyll get higher? peak means theyre at their highest.
And I certainly do not think this weekend will be the peak for these.
<< <i>
<< <i>What does anyone think the resale price for one of these sets will be at a dealer's table in coinshows within the next few months or is that a number that is yet to shake out.
My thought is possibly $550 -$600.
Any thoughts? >>
$600 would be the lowest I expect local show dealers would ask for, settling for maybe $550.
But the set could go viral, in which case the sky's the limit. >>
The 1995-W (mintage 30,100) is worth $2800 today. The 2011 Reverse Proof (mintage 100,000) is 3.322x more in quantity, or 3.322 less in value than 1995-W. Using the ratio of 3.322 for calculation, the 2011 Reverse Proof should be at $842. But I'd say the 2011 Anniversary set of 5 coins will settle for at least $800 per set or $4K per box of 5.
Am I being too optimistic here?
That's hard to say. Presale prices are all over the place. 3 have recently closed for $1500+ / set, while the average sale appears to be around $700. Boxes of 5 have closed in the low $3000's already. And the number of listings is over 300 and rising. The discrepancy in prices could be the result of buyers bidding on the auctions of sellers that they trust and have done biz with before. There's still quite a bit of uncertainty with these in terms of whether or not the Mint will respond to collector complaints. I suspect they will not make any more of these sets and will not lower the HH limit. This is just one of many offerings they're trying to complete before the end of the year. I suspect that was the reason for the HH limit they chose - they wanted a quick sellout to be able to move on to the next offering. They've had a remarkably aggressive production schedule this year and, all things considered, have done a pretty good job moving product. You've got to give them that.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>There's still quite a bit of uncertainty with these in terms of whether or not the Mint will respond to collector complaints. >>
Really? I hadn't heard this before. The sale seems to be a done deal and I believe they'll start shipping mid next week.
Order time 2:50PM EST
Just wondering where the order numbers become toast!
Thanks in advance.
<< <i>
<< <i>There's still quite a bit of uncertainty with these in terms of whether or not the Mint will respond to collector complaints. >>
Really? I hadn't heard this before. The sale seems to be a done deal and I believe they'll start shipping mid next week. >>
There's the perception that if enough people scream long enough and loud enough that the Mint will reconsider their options. Personally, I won't take anything for granted until I actually have these sets in hand.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>
<< <i>
<< <i>There's still quite a bit of uncertainty with these in terms of whether or not the Mint will respond to collector complaints. >>
Really? I hadn't heard this before. The sale seems to be a done deal and I believe they'll start shipping mid next week. >>
There's the perception that if enough people scream long enough and loud enough that the Mint will reconsider their options. Personally, I won't take anything for granted until I actually have these sets in hand. >>
kinda like OCCUPY WALL STREET right? whine till you get your way.
I don't understand all this "its not fair" entitlement that goes on in this country these days.
Everyone had a fair shot at getting these. Granted it was a pain in the ba77s. The only thing the mint did was have a slow system, and set a low number.
People that are complaining should just boycott the big dealers. And in reality its not even their fault. Its the greed of non-collectors and collectors that ordered more then they wanted to sell to make a quick buck (and in these hard economic times, who wouldn't?)
So, to all the people calling the mint and "complaining" they did not get one. What are you really solving??? Fairness??
I'm sorry, but there are many "things" I want and can't get. And that maybe for many reasons. And there are "things" I get because I work hard to get (however that maybe). I spent 4hrs trying to get the sets I wanted, and thats what i ordered. So how would it be "fair" to me to not get those sets, because someone else did not get one from the mint??? Boohoo!! You can still get one or more you just will have to pay what you are willing to pay. I know if I missed the boat thats what I would have to do. And if it was higher then my limit, life goes on....
Sorry for the rant..... it just sickens me, that even in a hobby there is this "entitlement", "its not fair" BS
<< <i>I think what is done is done.
I don't understand all this "its not fair" entitlement that goes on in this country these days.
Everyone had a fair shot at getting these. Granted it was a pain in the ba77s. The only thing the mint did was have a slow system, and set a low number.
People that are complaining should just boycott the big dealers. And in reality its not even their fault. Its the greed of non-collectors and collectors that ordered more then they wanted to sell to make a quick buck (and in these hard economic times, who wouldn't?)
So, to all the people calling the mint and "complaining" they did not get one. What are you really solving??? Fairness??
I'm sorry, but there are many "things" I want and can't get. And that maybe for many reasons. And there are "things" I get because I work hard to get (however that maybe). I spent 4hrs trying to get the sets I wanted, and thats what i ordered. So how would it be "fair" to me to not get those sets, because someone else did not get one from the mint??? Boohoo!! You can still get one or more you just will have to pay what you are willing to pay. I know if I missed the boat thats what I would have to do. And if it was higher then my limit, life goes on....
Sorry for the rant..... it just sickens me, that even in a hobby there is this "entitlement", "its not fair" BS >>
even though its a label thing I think the bullion coin will be the hardest graded for a complete 70 set...
and like posted before, possibilities the burnished W and proof W's being filled with previous release returns...
could be interesting
I want my box graded too, since it was rather pricy.
<< <i>There is still uncertainty that the sun is coming up tomorrow. >>
best advice on all of this yet.
E-bay Item # 300616950162
<< <i>On another note, how is this legit, when the coins haven't yet shipped from the Mint?
E-bay Item # 300616950162 >>
Ebay is allowing pre-sales. seller is offering a double pre-sale.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
<< <i>
<< <i>On another note, how is this legit, when the coins haven't yet shipped from the Mint?
E-bay Item # 300616950162 >>
Ebay is allowing pre-sales. seller is offering a double pre-sale. >>
Ebay isn't allowing presales though...these are just people who sneaked past the system
<< <i>
<< <i>
<< <i>On another note, how is this legit, when the coins haven't yet shipped from the Mint?
E-bay Item # 300616950162 >>
Ebay is allowing pre-sales. seller is offering a double pre-sale. >>
Ebay isn't allowing presales though...these are just people who sneaked past the system >>
Ebay allowed them to sneak past the system.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
San Diego, CA
<< <i>
<< <i>
<< <i>On another note, how is this legit, when the coins haven't yet shipped from the Mint?
E-bay Item # 300616950162 >>
Ebay is allowing pre-sales. seller is offering a double pre-sale. >>
Ebay isn't allowing presales though...these are just people who sneaked past the system >>
eBay allows presales given that you can ship the item within 30 days from the end of the auction.
I see crazy prices there!
<< <i>
<< <i>
<< <i>
<< <i>On another note, how is this legit, when the coins haven't yet shipped from the Mint?
E-bay Item # 300616950162 >>
Ebay is allowing pre-sales. seller is offering a double pre-sale. >>
Ebay isn't allowing presales though...these are just people who sneaked past the system >>
Ebay allowed them to sneak past the system. >>
They didn't let me sneak past
Please tell it to your parents and/or grandparents, who likely "whined" about Vietnam...
...or maybe your black co-workers, whose parents and/or grandparents likely "whined" about segregation.
Yeah...this is just the land of milk and honey for all, isn't it? Just ignore any and all injustice and it magically disappears on its own...maybe after a few decades...but hey, you've just got to be patient.
Just thought I'd say this since we're having another political moment on a coin forum.
...And now back to bashing the Post Office, Democrats, Labor Unions, Social Security and Obama...
<< <i>I Am Just Wondering,,,How Could The Mint be SOLD Out,, 100,000 Sets sold,, In About 5 hours,, It Will Be Interesting To see Just How Many Individuals Will Be selling These Sets On ebay......... Veeeerrrrryyyyy Interesting... Appears to be A Wal-Mart sale To me...... >>
Huh? They are sold out...
What's a walmart sale?
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell.
I still can not believe 100,000 sets were gone in such a short time. For 100,000 sets to be sold in 6 hours, 16, 666 sets have to be sold in 1 hour or 55 orders per minute with 5 sets per order. Now, processing 55 orders per minute is not a small task.
Let's also assume that each person placed an order for 5 sets, then the Mint only needed 20,000 persons/collectors/dealers to sell 100K sets.
If the collector base of ASE is estimated to be 200,000, then 80% or 180,000 collectors were left out of the deal. But only 100K of the key coin, Reverse Proof, are available. Therefore, only 1 of 2 collectors will be able to acquire the key coin in the end.
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
Perhaps. I know my original plan was to order multiple single orders but it only took me about five minutes to figure out that I had better just go for the max.
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
I too believe that the higher premiums will come out of the sealed single sets. Many people had the thought that they may not be able to get their full allotment if they decided to get their sets by ordering singles so the majority of the sealed boxes in the market place will probably be for 3 or more per box. People werent willing to risk being left out in the cold so they ordered the maximum allotment. Single sealed boxes IMO will command a much much bigger premium because there will not be many out there. Also the average Joe that wants to get a chance for grading a unsearched set is more than likely to buy single or double boxes.
Im not sure why some people with fast connections were having a hard time getting through. My best guess is that they were not using the Quick Checkout option which essentially cuts out the great majority of the checkout process. For the future people should really try the quick checkout option. I have a average connection and was able to order the following:
2 @ 12:24
2 @ 12:38
1 @ 12:46
1 @ 12;50
2 @ 12:52
1 @ 13:00
1 @ 13:02
All orders were done using the quick checkout method. Once i finished each order i clicked on the continue shopping link and clicked add on the 25th anniersary sets to add more sets
<< <i>
IIm not sure why some people with fast connections were having a hard time getting through. My best guess is that they were not using the Quick Checkout option which essentially cuts out the great majority of the checkout process. For the future people should really try the quick checkout option. I have a average connection and was able to order the following:
2 @ 12:24
2 @ 12:38
1 @ 12:46
1 @ 12;50
2 @ 12:52
1 @ 13:00
1 @ 13:02
All orders were done using the quick checkout method. Once i finished each order i clicked on the continue shopping link and clicked add on the 25th anniersary sets to add more sets >>
What I experienced is that once you were inside the site you could navigate and get multiple orders done as you say. The problem was going from the usmint.gov startup page to the online shopping link. Once you got there it was mostly a matter of time to get it done.
<< <i>My order number is 38353xxx........Am I still on the island???
Order time 2:50PM EST
Just wondering where the order numbers become toast!
Thanks in advance. >>
The mint sold out sometime after 4:00PM EDST so you should get your sets.
Worry is the interest you pay on a debt you may not owe.
Voltaire: Paper money eventually returns to its intrinsic value---zero.
In some sense if every collector was able to obtain a key coin of a series then the coin seems to lose some of its keyness.
Of course they can process this. Rock concerts sell out in minutes.
Since most orders all 5, they probably took somewhere between 25,000 and 50,000 orders. Thats less than 10,000 per hour mostly on the internet.
55 orders per minute is a piece of cake.
I got my order in within 2 hours of going on sale and in my account on the mint my order is on hold, ship date 11/13 and cancel box is still there. By brother ordered about 6:00pm when the set said it was wait listed but his status is on hold, ship date of 11/14 and no cancel box.
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
Here is the crazy thing. None of those opened boxes will ever get the 25th ann. label or first strike. This is going to make those even rarer in my opinion.
<< <i><< I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets. >>
<< <i>
<< <i>I have a theory...so many unsealed single sets seem to be [pre]selling for a very healthy $700 (or more) because not many individual orders were placed for only single sets. Instead, the majority of orders were likely for the maximum 5 sets.
After all, while experiencing the chaos on Thursday, once you finally managed to get through why would you limit yourself to only one [or two sets]...as you might not get a second chance to call back and order more.
If my theory holds, then the price for opened/unsealed single sets might not suffer [from not being sold in Mint sealed boxes] as has been the case with other recent Mint items, as there simply may not be very many single sets in sealed boxes available to sell. >>
Here is the crazy thing. None of those opened boxes will ever get the 25th ann. label or first strike. This is going to make those even rarer in my opinion. >>
Dude...I was just going to type the exact same statement....a LOT of opened boxes are being sold......many less 25th labels.....
<< <i>If unsealed single set is selling for $700 and maintain the price for a duration of 30-60 days, I believe boxes of 5 will be broken up to be sold as single. By doing this, the owner can choose to keep one best looking set for himself.
I still can not believe 100,000 sets were gone in such a short time. For 100,000 sets to be sold in 6 hours, 16, 666 sets have to be sold in 1 hour or 55 orders per minute with 5 sets per order. Now, processing 55 orders per minute is not a small task.
Let's also assume that each person placed an order for 5 sets, then the Mint only needed 20,000 persons/collectors/dealers to sell 100K sets.
If the collector base of ASE is estimated to be 200,000, then 80% or 180,000 collectors were left out of the deal. But only 100K of the key coin, Reverse Proof, are available. Therefore, only 1 of 2 collectors will be able to acquire the key coin in the end. >>
Save the math....not 16,666/hour....try 25,000
Mint News Blog:
The sets went on sale yesterday October 27, 2011 at 12:00 Noon ET. As expected, it was extremely difficult for customers to place orders by website or phone. The US Mint indicated that they received orders for approximately 25,000 sets within the first hour. Around 4:30 PM ET, the US Mint posted the “waiting list notice” on the online product page, indicating that orders had been received for the entire 100,000 production limit.
<< <i>Here is the crazy thing. None of those opened boxes will ever get the 25th ann. label or first strike. This is going to make those even rarer in my opinion. >>
If you can't get both labels on the two rarest coins, which label would command the highest premium- F/S or Anniversary label?