It seems like the profits on the 2016 Gold Walker are razor thin on eBay
TopographicOceans
Posts: 6,535 ✭✭✭✭
They are still available from the Mint and the SP70 Presales are doing OK, but the raw coins and SP69 Presales are going for about $100 over release price.
After ~$90 in fees and postage it seems there is not much profit for the flippers.
I'm surprised since I didn't buy any I'd thought the nice people on eBay who aren't smart enough to buy them from the Mint would pay a fortune.
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the nice buyers on eBay do not like having purchases cancelled after seller has money for a few weeks and decides they can not deliver....
$90 over issue for 69's will look like an awesome price in about 2 weeks (for sellers)
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
I predict eBay will raise their fees.
After running the numbers, I didn't see much profit for eBay sellers either. A lot of money to shell out, for minimal gains.
High risk with very low rewards. How much longer can this continue? When will the flippers just start saying "no" to modern US Mint issues?
Soon it wb trading at melt
I bought three hoping they'd sell out in day 1. They didn't, so to lessen my exposure I sold one essentially at cost after fees on eBay--which kick you in the pants.
However, after spending time with this lady I've decided I'm keeping at least one. The execution is absolutely top notch. And then consider this:
If they do sell out (which I think they will) then they're a good bet. Way fewer available pieces compared to the UHR, which I think this has to be compared to vs. the other similar recent mint gold pieces. Or do compare them to the dime and quarter and keep in mind they're an affordable one-off one year set that you need this piece to complete.
If they don't sell out, then the final mintage should be less than the already tiny 70,000 pieces. That's a good bet, too.
So roll the dice and gamble that they'll be available cheaper than issue price, or slabbed, or both in the near future. I see raw UHRs are selling for about $2k on eBay.
--Severian the Lame
When chumps stop making "flipping" profitable.
Liberty: Parent of Science & Industry
Croc tears. Could not care less about the flippers, nor the artificial 1st strike labels. I want the coins to stand (or fall) on their merits to encourage the mint to make better products, like several of the world mints do.
ANA 50 year/Life Member (now "Emeritus")
If I don't get an SP 6 from Santa I'm going to be very mad
Wait until next week. If gold continues to fall, the cost of this coin will go down another $25.
I expect to see a good number of returns in the next couple of sales reports.
Did anyone really think there'd be a flip on this coin?
What Segoja said
Wondercoin
This is getting interesting... Great first day sales... weak flipping prices, falling gold spot.....hmmmmm maybe I will get one of these... in the future, for about $70 over spot....about $700....
Yeah...that's the ticket.... Cheers, RickO
Shop at home had ANACS 70's at $1599.00 each.
I remember the pessimism about the UHR when it came out.
It looks like there are no proof like versions of either of the first two centennial coins.
Box of 20
Saw that too, the talking head referring to it as the greatest recreation ever, says that about everything.
Bet there were some that bought multiples of these at double Mint issue price, to each his own I guess.
I don't think these will end up being much more than issue price or less. I attempted to make a few $ on the Mercury's but after fees was lucky to break even on most of them. Insured shipping both ways and grading added enough to the cost to eat up any profit and combine that with eBay fees, free shipping etc. the net was below the cost from the Mint. And this is for 70's! I ended up bulk selling the remaining 70's to a friend for the same as my costs which got me out of them which was nice.
K
Not melt, but probably more like $25 over melt.
Disagree (but didn't punch the button)
Even a naysayer like me would buy one at 50 over melt
Liberty: Parent of Science & Industry
If going to make retro gold coin do a real one like a $10 Indian.
No way, just because it wasn't a sellout in a couple of hours doesn't automatically mean it will soon being going for close to melt.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
The mint squeezed all the profits out. So much so that they've helped kill the desire for most common collectors to endeavor in. That's my opinion. And the flippers, without having (offering) a two way market are really no help either. Then there is feebay.
How does this compare to that gold Kennedy. (The Fiasco ) ?
They'd make it in Palladium just to mess it up.
Rule #1...never to pay a high premium for something that was made yesterday.
Rule #2....never pay a high premium for a coin that can still be purchased directly from the mint.
This common sense rule may explain why the flippers aren't reaping big profits of this coin.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
How low will it go?
With gold getting pummeled again this morning it could go lower direct from the mint.
I wouldn't mind getting one. They look nice.
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All of the rules still don't result in this coin going for melt or $25 over melt.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.