Got to chuckle.. a poster said sets were going to fly out of the Mint.... guess poster didn't imagine that sets would be flying back to the Mint ..
Looks like the early sellout was not .....Either the Mint didn't know their inventory numbers, or ,were trying to gin up more orders....Looks like some bulk buyers took the bait
Appear to still be getting some returns. Of course, people who are returning anything that isn't a 70 don't really understand the nature of coin production, but it's their nickel. The flippers who returned them because they couldn't flip them fast enough...well...I kinda sort of hate them. LOL.
Y'know, a 20% restocking fee would cut down on some of the speculators. You wouldn't order 500 sets "just in case" if it cost you $6 per set to return them.
20% restocking fee if there are no defects. I know, who determines that. Maybe require a description of the perceived defect. A tough one but I agree there should be a penalty if you just get cold feet.
As for the number of returns....I believe the USMint screwed themselves on this one by making it unlimited for what anyone could buy and having so many available at the ANA show.
As mentioned...some bought BOXES and BOXES there, and then returned them when they couldn't sell them as quickly as they wanted, for what they wanted.
If the mint had set a HHL of even 50, I don't think we would be seeing what we are seeing now. It still would have been a large enough number that dealers could have used employees and gotten a large number of them, but also low enough that the numbers would have been spread out amongst collectors/flippers/dealers a lot more.
Heck, they could have set a HHL of 5, 10, 20, 25, 50, even 75 or 99 and it would have been a huge difference from what they have done.
They screwed the pooch on this one and took a lot of returns. Even if they didn't pay postage back on all of them, they are spending a lot of resources (time/personnel/$$$) just on reprocessing them (checking them out, checking them back into the system or getting rid of them if real problems....which I doubt many are "real problems"; as using a loupe is not something many regular collectors do...trying for a 70).
Some years back, they used to have 30 day return on products...including silver/gold. Then, people played the system as metals got pretty volatile. Now, we have that 7 day return policy thanks to people abusing the old way.
And, I know for a fact that many people did abuse it as I had people on this forum tell me to play the system like they were (I didn't...as, at that time, I was quite busy at work and I didn't feel right trying to abuse the system, particularly for such small gains).
@hchcoin said:
I bought one set just for the heck of it when they went back on sale. I received them today and the half dollar looks great with that "enhanced" finish. I am not a modern guy but the enhanced look is kind of cool The lettering kind of pops when you rotate it in the light (Reverse on the one with the half and obverse on the quarters).
I really like the reverse of the cent, too.
This is one of the reasons why I think this set will be successful. The enhanced finish makes the set, even if you're generally not interested in this sort of product. And many won't recognize that fact until they see the coins in-hand. (None of the photos I've seen really represent the coins. To get detail, the images are large and and make the frosted fields look like mountainous peaks, and you don't get that flash of the lettering when moving the lens back and forth.)
Not picking on Bochiman, but his post does reflect a lot of other posts, and since his was convenient...
@Bochiman said:
As for the number of returns....I believe the USMint screwed themselves on this one by making it unlimited for what anyone could buy and having so many available at the ANA show.
First, the first wave of available sets (on the 3rd) weren't returns, they were cancellations. (Unless you believe that the first wave of 20K was shipped out and returned within 48 hours...) I'd put as much blame on the idiots who ordered thousands of sets.
Some facts:
One, the mint actually treated this issue like any other annual coin set. They even opened the set up to bulk sales.
Two, none of the 225th releases have had HHL's. That was probably by design.
Three. There were TWO HUNDRED AND TWENTY-FIVE THOUSAND sets made available. IMHO, those who ordered thousands of sets had no clue about the market once you got past the initial flip stage, which never really happened.
Four. Everyone is still assuming the first of the big cancels were by the buyer, and not the Mint.
As mentioned...some bought BOXES and BOXES there, and then returned them when they couldn't sell them as quickly as they wanted, for what they wanted.
I don't recall reading that there were a lot of returns at the show. The big cancellations were from on-line orders.
Can you supply a source for the number of returns at the show?
If the mint had set a HHL of even 50, I don't think we would be seeing what we are seeing now. It still would have been a large enough number that dealers could have used employees and gotten a large number of them, but also low enough that the numbers would have been spread out amongst collectors/flippers/dealers a lot more.
Heck, they could have set a HHL of 5, 10, 20, 25, 50, even 75 or 99 and it would have been a huge difference from what they have done.
Here's where I begin to wonder what the argument really is. Huge difference from what? What would we be seeing differently?
Usually people complain there should of been an HHL when the issue sells out and some people couldn't get the product. But the product is still available from the mint. I think the same would be true had they put HHL's on it.
They screwed the pooch on this one and took a lot of returns. Even if they didn't pay postage back on all of them, they are spending a lot of resources (time/personnel/$$$) just on reprocessing them (checking them out, checking them back into the system or getting rid of them if real problems....which I doubt many are "real problems"; as using a loupe is not something many regular collectors do...trying for a 70).
Lot of people still assuming they're returns and not cancellations. Yes, it would take a lot of resources if they were returns. However, if they were cancellations (and we don't know yet), that just moves electronic bits around around, and the cost would be virtually nothing.
I guess I'm just not seeing why there's so much crap being thrown on what is a very nice offering from the Mint, when nobody yet knows the facts...
@BackroadJunkie said:
I guess I'm just not seeing why there's so much crap being thrown on what is a very nice offering from the Mint, when nobody yet knows the facts...
+1
~HABE FIDUCIAM IN DOMINO III V VI / III XVI~ POST NUBILA PHOEBUS / AFTER CLOUDS, SUN Love for Music / Collector of Dreck
I ordered one set a week ago and it arrived yesterday. Looks great and I might get a grade or two at 70 if I cared about such things. I'm satisfied with it. I like the look of the coins. As a coin geek I can think of worse things I've spent $35 on!
Appear to still be getting some returns. Of course, people who are returning anything that isn't a 70 don't really understand the nature of coin production, but it's their nickel. The flippers who returned them because they couldn't flip them fast enough...well...I kinda sort of hate them. LOL.
Y'know, a 20% restocking fee would cut down on some of the speculators. You wouldn't order 500 sets "just in case" if it cost you $6 per set to return them.
20% restocking fee if there are no defects. I know, who determines that. Maybe require a description of the perceived defect. A tough one but I agree there should be a penalty if you just get cold feet.> @BackroadJunkie said:
Not picking on Bochiman, but his post does reflect a lot of other posts, and since his was convenient...
@Bochiman said:
As for the number of returns....I believe the USMint screwed themselves on this one by making it unlimited for what anyone could buy and having so many available at the ANA show.
First, the first wave of available sets (on the 3rd) weren't returns, they were cancellations. (Unless you believe that the first wave of 20K was shipped out and returned within 48 hours...) I'd put as much blame on the idiots who ordered thousands of sets.
Some facts:
One, the mint actually treated this issue like any other annual coin set. They even opened the set up to bulk sales.
Two, none of the 225th releases have had HHL's. That was probably by design.
Three. There were TWO HUNDRED AND TWENTY-FIVE THOUSAND sets made available. IMHO, those who ordered thousands of sets had no clue about the market once you got past the initial flip stage, which never really happened.
Four. Everyone is still assuming the first of the big cancels were by the buyer, and not the Mint.
As mentioned...some bought BOXES and BOXES there, and then returned them when they couldn't sell them as quickly as they wanted, for what they wanted.
I don't recall reading that there were a lot of returns at the show. The big cancellations were from on-line orders.
Can you supply a source for the number of returns at the show?
If the mint had set a HHL of even 50, I don't think we would be seeing what we are seeing now. It still would have been a large enough number that dealers could have used employees and gotten a large number of them, but also low enough that the numbers would have been spread out amongst collectors/flippers/dealers a lot more.
Heck, they could have set a HHL of 5, 10, 20, 25, 50, even 75 or 99 and it would have been a huge difference from what they have done.
Here's where I begin to wonder what the argument really is. Huge difference from what? What would we be seeing differently?
Usually people complain there should of been an HHL when the issue sells out and some people couldn't get the product. But the product is still available from the mint. I think the same would be true had they put HHL's on it.
They screwed the pooch on this one and took a lot of returns. Even if they didn't pay postage back on all of them, they are spending a lot of resources (time/personnel/$$$) just on reprocessing them (checking them out, checking them back into the system or getting rid of them if real problems....which I doubt many are "real problems"; as using a loupe is not something many regular collectors do...trying for a 70).
Lot of people still assuming they're returns and not cancellations. Yes, it would take a lot of resources if they were returns. However, if they were cancellations (and we don't know yet), that just moves electronic bits around around, and the cost would be virtually nothing.
I guess I'm just not seeing why there's so much crap being thrown on what is a very nice offering from the Mint, when nobody yet knows the facts...
We KNOW the later ones are returns. Cancellations would have shown up in the first week before they had shipped. The 3 or 4,000 that appeared this weekend MUST be returns.
@hchcoin said:
I bought one set just for the heck of it when they went back on sale. I received them today and the half dollar looks great with that "enhanced" finish. I am not a modern guy but the enhanced look is kind of cool The lettering kind of pops when you rotate it in the light (Reverse on the one with the half and obverse on the quarters).
I really like the reverse of the cent, too.
This is one of the reasons why I think this set will be successful. The enhanced finish makes the set, even if you're generally not interested in this sort of product. And many won't recognize that fact until they see the coins in-hand. (None of the photos I've seen really represent the coins. To get detail, the images are large and and make the frosted fields look like mountainous peaks, and you don't get that flash of the lettering when moving the lens back and forth.)
I'm so confident of that, I bought 8 sets.
i VERY much agree. I've yet to see a photo that accurately portrayed the look of the coin in hand. That's why I'm confidently sitting on 150 sets. I think there will be growing demand as people who are resisting the set decide they'd really like the coin (or set) in their collection.
We KNOW the later ones are returns. Cancellations would have shown up in the first week before they had shipped. The 3 or 4,000 that appeared this weekend MUST be returns.
No, you don't know.
Those 5,000 that showed up could have been ordered from the 20K that were cancelled.
@hchcoin said:
I bought one set just for the heck of it when they went back on sale. I received them today and the half dollar looks great with that "enhanced" finish. I am not a modern guy but the enhanced look is kind of cool The lettering kind of pops when you rotate it in the light (Reverse on the one with the half and obverse on the quarters).
I really like the reverse of the cent, too.
This is one of the reasons why I think this set will be successful. The enhanced finish makes the set, even if you're generally not interested in this sort of product. And many won't recognize that fact until they see the coins in-hand. (None of the photos I've seen really represent the coins. To get detail, the images are large and and make the frosted fields look like mountainous peaks, and you don't get that flash of the lettering when moving the lens back and forth.)
I'm so confident of that, I bought 8 sets.
i VERY much agree. I've yet to see a photo that accurately portrayed the look of the coin in hand. That's why I'm confidently sitting on 150 sets. I think there will be growing demand as people who are resisting the set decide they'd really like the coin (or set) in their collection.
We KNOW the later ones are returns. Cancellations would have shown up in the first week before they had shipped. The 3 or 4,000 that appeared this weekend MUST be returns.
No, you don't know.
Those 5,000 that showed up could have been ordered from the 20K that were cancelled.
As I said, the facts have yet to come out.
Those pushing the rosy side of the set should re-read the 1st several pages of thread .. after 1st apparent sell out ,...there was a buying frenzy to purchase hundreds of sets at a time /..this bodes ill for those hoping for big price rally
Such buying rarely turns out to be a winner
there are not too many sets that the mint has made that already sold several thousand sets on e bay and not one single set has sold for under issue price and this set isn't even sold out yet
The Mint is the issue not the collectors or the market. Let the Market do its thing. They need to issue realistic quantities and stop knee jerking every time a senator or someone else gets a call. And let us sign up for the special issues on staple items so they at least have some clue as to how many will sell.
1st run (before returns) sealed boxes will could do very well in the future.
I cut my teeth on the VERY slow flip circa 1996 uncirculated olympic commemorative $5, $1 and low mintage halves.
@coinpalice said:
even no reserve auctions are getting between 35 to 41 per set
@coinpalice said:
there are not too many sets that the mint has made that already sold several thousand sets on e bay and not one single set has sold for under issue price and this set isn't even sold out yet
Even on this forum at least one or more members each, are holding over 1000 - 2,000 sets ...even more? ..is it not ironic Mint selling sets $ 7-10 dollars less than on ebay
If / when prices do start to decline it will be a waterfall
We KNOW the later ones are returns. Cancellations would have shown up in the first week before they had shipped. The 3 or 4,000 that appeared this weekend MUST be returns.
No, you don't know.
Those 5,000 that showed up could have been ordered from the 20K that were cancelled.
As I said, the facts have yet to come out.
The 20,000 that were cancelled appeared on the Thursday 8/3 as per the Mint. The Mint said at the time that they were available again because of a large cancellation of 20,000.
We KNOW the later ones are returns. Cancellations would have shown up in the first week before they had shipped. The 3 or 4,000 that appeared this weekend MUST be returns.
No, you don't know.
Those 5,000 that showed up could have been ordered from the 20K that were cancelled.
As I said, the facts have yet to come out.
The 20,000 that were cancelled appeared on the Thursday 8/3 as per the Mint. The Mint said at the time that they were available again because of a large cancellation of 20,000.
Right. And the 5,000 that showed up later, could have been ordered (and cancelled) from that 8/3 20K cancellation.
one of the main sellers of this set just raised price from 34.99 to 36.50
Just tried the site....Mint willing to sell me right now ....100 sets at 29.95 each
If you don't mind likely getting rejects.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Will keep 2 sealed boxes of 5 sets, 1 sealed box of 2 sets, and 1 sealed box of 1 set for long term. Only opened one set that I ordered with the liberty silver medal.
one of the main sellers of this set just raised price from 34.99 to 36.50
Just tried the site....Mint willing to sell me right now ....100 sets at 29.95 each
If you don't mind likely getting rejects.
It all depends your definition of rejects. The US Mint has on numerous occasions indicated, that they do not resell rejects. That is the major reason why they normally produce approx 5% more than the authorized limit to account for returns due to flaws.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
one of the main sellers of this set just raised price from 34.99 to 36.50
Just tried the site....Mint willing to sell me right now ....100 sets at 29.95 each
If you don't mind likely getting rejects.
It all depends your definition of rejects. The US Mint has on numerous occasions indicated, that they do not resell rejects. That is the major reason why they normally produce approx 5% more than the authorized limit to account for returns due to flaws.
Perhaps "rejects" was too strong a word, but they certainly do resell returns that may not meet more stringent collector standards but are not visually defective or impaired. I doubt the majority of returns are destroyed.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
@Manorcourtman said:
A lot of new cheerleaders around here lately. We've seen this play out numerous times on new mint issues. Pump and dump. Then all of a sudden only us Ole timers remain! Just sayin!!
It all depends your definition of rejects. The US Mint has on numerous occasions indicated, that they do not resell rejects. That is the major reason why they normally produce approx 5% more than the authorized limit to account for returns due to flaws.
Buy bulk in this case, grade your brains out, submit. See what happens. Return the remains.
Overproducing 5% to accommodate returns?
Mfg. process suspect, after all, it's the USMint. So who knows.
A 5% overproduction for defect rate is crazy. No-one does that.
Without strong demand for the graded sets ..raw sets going no where
It has been said before, that the cost per 10 coin set to your bulk submitters, most likely is less than $150. It appears, that they are the only ones selling at this time. A 50% - 60% profit within a 3 month time frame ain't shabby in book.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
@BackroadJunkie said:
I don't recall reading that there were a lot of returns at the show. The big cancellations were from on-line orders.
Can you supply a source for the number of returns at the show?
I was in Denver on the first morning and had heard that the sets sold out in 8 minutes so I stood in line for over an hour and a half to get my piddling 15 sets. I was near the front of the line at 12:30 when they let ANA members in doors and I walked straight back to the mint's booth to get in the front of the line to make my purchase.
But when I got to the mint's booth there was already a line of about 45 dealers waiting. They were in line before they let the public in.
The mint had a limit of 500 sets, so most of the dealers (80%) would take a stack of 13 boxes (494 sets) on a hand truck. This took forever. An hour and a half. Once it got back to those of us who came in the front door, the line moved quickly as most were buying just a few.
Those of us in line had a lot of time on our hands so we watched as each dealer took their stash and headed off. A lot of them headed off to one side of the building. One group, I don't know if it was one dealer or several but they stacked up 14 hand trucks of sets or about 7,000 (over $200,000). When some guys started taking these sets over to that same side of the building I got curious, so I followed to see who they were going to. But they weren't taking them to a dealer, they went to the grading services. PCGS and NGC were situated next to each other and they each had stacks of thousands of sets.
Later I was at the NGC booth when Fed Ex came and picked up 3 or 4 hand trucks of sets. One of the people at NGC said that was their third shipment for the day. I saw at least as many and probably more over at PCGS. All of these sets were still in their unopened mint shipping boxes. Later I passed a garbage bin and it had dozens more of empty shipping boxes.
The next day I heard there were more sets for sale but the rumor was that the mint had shipped in more. I saw many hand trucks leave the mint's booth that first morning but I never saw any return. The next three days while I was at the show, I only recall seeing two dealers with sets at their booth.
So, @BackroadJunkie , to answer your question, I don't believe there were any substantial numbers returned at the show.
So I guess I am wondering
1. Why were the Dealers allowed to cut to the front of the line in the first place?
2. Is someone working for the mint / show breaking the LAW when they let the Dealers get first choice of the coins?
3. How is it that the Dealers even get first choice at the coins?
4. Do we need an Investigation by the Federal Authorities?
5. Do these shows get a % kick back into their pockets for letting Dealers in the front.
6. Who do we complain to?
7. Why didn't YOU say something like " Hey why do I have to wait and why do these 40 to 100 Dealers get to buy and hoard all the coins?
8. I mean you could of gotten all upset made a huge scene maybe even get thrown in jail over it?
9. OK just kidding but thanks for that information. Just does not seem right maybe a " Quid Pro Quo " going on?
10.Im done acting stupid!!!! Forgive me.
@BackroadJunkie said:
I don't recall reading that there were a lot of returns at the show. The big cancellations were from on-line orders.
Can you supply a source for the number of returns at the show?
I was in Denver on the first morning and had heard that the sets sold out in 8 minutes so I stood in line for over an hour and a half to get my piddling 15 sets. I was near the front of the line at 12:30 when they let ANA members in doors and I walked straight back to the mint's booth to get in the front of the line to make my purchase.
But when I got to the mint's booth there was already a line of about 45 dealers waiting. They were in line before they let the public in.
well, ...well... let it begin... coin club got offer to buy 100 - 225th sets .... graded all NGC 70s. ...$.252..... for Sept delivery. . wonder what % of the 70/69 grades will be for the set ........where does that put 69s sets?
Didn't the 2011 Anniv Silver Eagle set ....70s.... start out in the 700s per set ?
Comments
Is the Mint making more sets ?.. number available keeps going up
Got to chuckle.. a poster said sets were going to fly out of the Mint.... guess poster didn't imagine that sets would be flying back to the Mint ..
Looks like the early sellout was not .....Either the Mint didn't know their inventory numbers, or ,were trying to gin up more orders....Looks like some bulk buyers took the bait
more returns, about the same number as it was 5 days ago
if the number doesn't go up again, that's about 10 days, unless the mint cuts off sales before it hits 225,000
20% restocking fee if there are no defects. I know, who determines that. Maybe require a description of the perceived defect. A tough one but I agree there should be a penalty if you just get cold feet.
Flippers playing the Mint ....returning sets when a quick profit was unlikely
Next wave of returns coming ... when Cc bills come in, with sets unsold ?
Bought 4.
Returned 0.
Kept 4.
Selling 0.
They came nice.
As for the number of returns....I believe the USMint screwed themselves on this one by making it unlimited for what anyone could buy and having so many available at the ANA show.
As mentioned...some bought BOXES and BOXES there, and then returned them when they couldn't sell them as quickly as they wanted, for what they wanted.
If the mint had set a HHL of even 50, I don't think we would be seeing what we are seeing now. It still would have been a large enough number that dealers could have used employees and gotten a large number of them, but also low enough that the numbers would have been spread out amongst collectors/flippers/dealers a lot more.
Heck, they could have set a HHL of 5, 10, 20, 25, 50, even 75 or 99 and it would have been a huge difference from what they have done.
They screwed the pooch on this one and took a lot of returns. Even if they didn't pay postage back on all of them, they are spending a lot of resources (time/personnel/$$$) just on reprocessing them (checking them out, checking them back into the system or getting rid of them if real problems....which I doubt many are "real problems"; as using a loupe is not something many regular collectors do...trying for a 70).
Some years back, they used to have 30 day return on products...including silver/gold. Then, people played the system as metals got pretty volatile. Now, we have that 7 day return policy thanks to people abusing the old way.
And, I know for a fact that many people did abuse it as I had people on this forum tell me to play the system like they were (I didn't...as, at that time, I was quite busy at work and I didn't feel right trying to abuse the system, particularly for such small gains).
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I really like the reverse of the cent, too.
This is one of the reasons why I think this set will be successful. The enhanced finish makes the set, even if you're generally not interested in this sort of product. And many won't recognize that fact until they see the coins in-hand. (None of the photos I've seen really represent the coins. To get detail, the images are large and and make the frosted fields look like mountainous peaks, and you don't get that flash of the lettering when moving the lens back and forth.)
I'm so confident of that, I bought 8 sets.
Whenever I buy a steak I make sure that it's rare.
My Adolph A. Weinman signature
Not picking on Bochiman, but his post does reflect a lot of other posts, and since his was convenient...
First, the first wave of available sets (on the 3rd) weren't returns, they were cancellations. (Unless you believe that the first wave of 20K was shipped out and returned within 48 hours...) I'd put as much blame on the idiots who ordered thousands of sets.
Some facts:
One, the mint actually treated this issue like any other annual coin set. They even opened the set up to bulk sales.
Two, none of the 225th releases have had HHL's. That was probably by design.
Three. There were TWO HUNDRED AND TWENTY-FIVE THOUSAND sets made available. IMHO, those who ordered thousands of sets had no clue about the market once you got past the initial flip stage, which never really happened.
Four. Everyone is still assuming the first of the big cancels were by the buyer, and not the Mint.
I don't recall reading that there were a lot of returns at the show. The big cancellations were from on-line orders.
Can you supply a source for the number of returns at the show?
Here's where I begin to wonder what the argument really is. Huge difference from what? What would we be seeing differently?
Usually people complain there should of been an HHL when the issue sells out and some people couldn't get the product. But the product is still available from the mint. I think the same would be true had they put HHL's on it.
Lot of people still assuming they're returns and not cancellations. Yes, it would take a lot of resources if they were returns. However, if they were cancellations (and we don't know yet), that just moves electronic bits around around, and the cost would be virtually nothing.
I guess I'm just not seeing why there's so much crap being thrown on what is a very nice offering from the Mint, when nobody yet knows the facts...
+1
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
I ordered one set a week ago and it arrived yesterday. Looks great and I might get a grade or two at 70 if I cared about such things. I'm satisfied with it. I like the look of the coins. As a coin geek I can think of worse things I've spent $35 on!
Jim
We KNOW the later ones are returns. Cancellations would have shown up in the first week before they had shipped. The 3 or 4,000 that appeared this weekend MUST be returns.
You can't so easily return them after 7 days. The "waves of returns" should just about be exhausted.
i VERY much agree. I've yet to see a photo that accurately portrayed the look of the coin in hand. That's why I'm confidently sitting on 150 sets. I think there will be growing demand as people who are resisting the set decide they'd really like the coin (or set) in their collection.
No, you don't know.
Those 5,000 that showed up could have been ordered from the 20K that were cancelled.
As I said, the facts have yet to come out.
ok at least > @BackroadJunkie said:
Those pushing the rosy side of the set should re-read the 1st several pages of thread .. after 1st apparent sell out ,...there was a buying frenzy to purchase hundreds of sets at a time /..this bodes ill for those hoping for big price rally
Such buying rarely turns out to be a winner
there are not too many sets that the mint has made that already sold several thousand sets on e bay and not one single set has sold for under issue price and this set isn't even sold out yet
even no reserve auctions are getting between 35 to 41 per set
The Mint is the issue not the collectors or the market. Let the Market do its thing. They need to issue realistic quantities and stop knee jerking every time a senator or someone else gets a call. And let us sign up for the special issues on staple items so they at least have some clue as to how many will sell.
Best place to buy !
Bronze Associate member
Keeping my 100 sets. $3 a coin is a no brainer.
1st run (before returns) sealed boxes will could do very well in the future.
I cut my teeth on the VERY slow flip circa 1996 uncirculated olympic commemorative $5, $1 and low mintage halves.
Right now there is only one hot mint product and this isn't it.
Wow, okay. I trust your judgement HalfStrike. What is the one hot product?
the circulated unenhanced Sac dollar.
Don't quote me on that.
Does the USPS still have any Eclipse Stamps left? Or have Flippers bought THEM out ?
Even on this forum at least one or more members each, are holding over 1000 - 2,000 sets ...even more? ..is it not ironic Mint selling sets $ 7-10 dollars less than on ebay
If / when prices do start to decline it will be a waterfall
They did when I went last week.
You can also get them from USPS on ebay for cost plus 1.25 shipping:
http://m.ebay.com/itm/USPS-New-Total-Eclipse-of-the-Sun-pane-of-16-/232399728727?hash=item361c1a7057:g:SN8AAOSwx3NZX22l&_trkparms=pageci%3Abed5be00-8694-11e7-b8d7-74dbd180c4c6%7Cparentrq%3A05cd7f9e15e0a9e86a4e4fd5fffa3f46%7Ciid%3A2
For those interested in a solar eclipse medal, here's a link to the real thing
The 20,000 that were cancelled appeared on the Thursday 8/3 as per the Mint. The Mint said at the time that they were available again because of a large cancellation of 20,000.
I got a sheet via pre-order. Came in the mail oddly enough.
Right. And the 5,000 that showed up later, could have been ordered (and cancelled) from that 8/3 20K cancellation.
Where are the offerings for graded coins from the 225th set on BST ??.. none listed
http://www.ebay.com/itm/2017-S-US-Mint-225th-Anniversary-Enhanced-Uncirculated-10-Coin-Set-W-Box-And-CO-/152646544845?epid=2154478261&hash=item238a716dcd:g:9dgAAOSwvv9ZgyWE
one of the main sellers of this set just raised price from 34.99 to 36.50
Just tried the site....Mint willing to sell me right now ....100 sets at 29.95 each
If you don't mind likely getting rejects.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Will keep 2 sealed boxes of 5 sets, 1 sealed box of 2 sets, and 1 sealed box of 1 set for long term. Only opened one set that I ordered with the liberty silver medal.
Box of 20
It all depends your definition of rejects. The US Mint has on numerous occasions indicated, that they do not resell rejects. That is the major reason why they normally produce approx 5% more than the authorized limit to account for returns due to flaws.
Perhaps "rejects" was too strong a word, but they certainly do resell returns that may not meet more stringent collector standards but are not visually defective or impaired. I doubt the majority of returns are destroyed.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
+1
"Bought 4.
Returned 0.
Kept 4.
Selling 0."
Me too.
Without strong demand for the graded sets ..raw sets going no where
Buy bulk in this case, grade your brains out, submit. See what happens. Return the remains.
Overproducing 5% to accommodate returns?
Mfg. process suspect, after all, it's the USMint. So who knows.
A 5% overproduction for defect rate is crazy. No-one does that.
about 750 sets selling per day, still selling strong
It has been said before, that the cost per 10 coin set to your bulk submitters, most likely is less than $150. It appears, that they are the only ones selling at this time. A 50% - 60% profit within a 3 month time frame ain't shabby in book.
New numbers to last Sunday. Sorta meaningless at this point, but for the record...
I was in Denver on the first morning and had heard that the sets sold out in 8 minutes so I stood in line for over an hour and a half to get my piddling 15 sets. I was near the front of the line at 12:30 when they let ANA members in doors and I walked straight back to the mint's booth to get in the front of the line to make my purchase.
But when I got to the mint's booth there was already a line of about 45 dealers waiting. They were in line before they let the public in.
The mint had a limit of 500 sets, so most of the dealers (80%) would take a stack of 13 boxes (494 sets) on a hand truck. This took forever. An hour and a half. Once it got back to those of us who came in the front door, the line moved quickly as most were buying just a few.
Those of us in line had a lot of time on our hands so we watched as each dealer took their stash and headed off. A lot of them headed off to one side of the building. One group, I don't know if it was one dealer or several but they stacked up 14 hand trucks of sets or about 7,000 (over $200,000). When some guys started taking these sets over to that same side of the building I got curious, so I followed to see who they were going to. But they weren't taking them to a dealer, they went to the grading services. PCGS and NGC were situated next to each other and they each had stacks of thousands of sets.
Later I was at the NGC booth when Fed Ex came and picked up 3 or 4 hand trucks of sets. One of the people at NGC said that was their third shipment for the day. I saw at least as many and probably more over at PCGS. All of these sets were still in their unopened mint shipping boxes. Later I passed a garbage bin and it had dozens more of empty shipping boxes.
The next day I heard there were more sets for sale but the rumor was that the mint had shipped in more. I saw many hand trucks leave the mint's booth that first morning but I never saw any return. The next three days while I was at the show, I only recall seeing two dealers with sets at their booth.
So, @BackroadJunkie , to answer your question, I don't believe there were any substantial numbers returned at the show.
So I guess I am wondering
1. Why were the Dealers allowed to cut to the front of the line in the first place?
2. Is someone working for the mint / show breaking the LAW when they let the Dealers get first choice of the coins?
3. How is it that the Dealers even get first choice at the coins?
4. Do we need an Investigation by the Federal Authorities?
5. Do these shows get a % kick back into their pockets for letting Dealers in the front.
6. Who do we complain to?
7. Why didn't YOU say something like " Hey why do I have to wait and why do these 40 to 100 Dealers get to buy and hoard all the coins?
8. I mean you could of gotten all upset made a huge scene maybe even get thrown in jail over it?
9. OK just kidding but thanks for that information. Just does not seem right maybe a " Quid Pro Quo " going on?
10.Im done acting stupid!!!! Forgive me.
That's what I paid on 8/5 pre-sale for those sets so staying the same
I've been buying NGC ER sets for under $190....ANA First day Issue for just a tad more
well, ...well... let it begin... coin club got offer to buy 100 - 225th sets .... graded all NGC 70s. ...$.252..... for Sept delivery. . wonder what % of the 70/69 grades will be for the set ........where does that put 69s sets?
Didn't the 2011 Anniv Silver Eagle set ....70s.... start out in the 700s per set ?