@bestday said:
This Thread has legs .. Still no BST listings for Graded 225 sets ...
No new offerings from the Mint until October, so I'm just stirring up trouble here...
I should to post to the 20th anniv platinum thread, since the same bizarre sales are going on over there.
I could also go and update those abysmal commem and AmLib numbers. Does seem like no one cares at this point.
The reports of sub-$200 70 sets on ebay can't be matched by most mortal human members here, so I'd expect the BST to be devoid of those sets until prices pick up. Or at least stabilize...
@bestday said:
What will be the Under /Over ,for 225th sets ,returned to the Mint .. 50,000 sets returned to the Mint ????
The last mintage numbers have the sales at 37.7K to max mintage. numaler said over 10K were available a couple of days ago. Even assuming they struck some sets for returns in anticipation of a sell-out, returns are probably less than 20K.
Ya just got to admit many big lot buyers got suckered into their own hubris ,of making a killing on the 225th sets
Now ,These buyers keep on trying to convince themselves they are right ,and The Market is wrong
Well, I think the money I spent on my 8 sets was a decent, speculative investment. (Two are for my collection the other 6 got added to my brown paper box collection.) Along with the coin guys who usually pass on circulating coin sets who bought one because they're... cool, mint, proof and silver proof sets have decent sales throughout the year, so those casual collectors who don't pay attention will eventually find them. The $30 price point doesn't hurt. I think in the long run this set will do okay, less so if this EU set is not a one run and done.
If mintage was say, 100K, I'd have bought a few more. But 225K sets is still close to a quarter million sets. It's like the platinum proof. I think a lot bought in thinking 10K is a small number, but found out it's a big number compared to the platinum collectors.
Cost of Mint returns have likely turned 225th sets into a loser for The Mint
As I posted somewhere in this thread, don't confuse returns with cancels. Cancels cost almost nothing, just a shift of numbers in PFSWeb's computers. They don't pay the postage unless there was a problem with the sets being returned, so that'll also reduce costs. And they're selling 10 pieces of base metal, two lenses and a paper box for $30, pressed out by the same guys who used to strike 5 times the number of proof and silver proof sets just a few years ago.
Let's not yet break out the violins and play a sad song for the Mint...
What are you saying, they should have included quarters from other years? Would have been nice, but not legal. The reason they got away with these coins this year without congressional approval, was because they're 2017 coins.
WTF? Who cares? The Iowa Effigy Mound clad coin is a showstopper. Period.
What else would you have put on the coin? It has to be an ATB subject, so Radar O'Reilly doesn't qualify...
And hey, don't diss the animal cracker quarter. Iowa doesn't have much more to offer other than corn...
I live in Iowa, the best thing is that there is no-one here, the worst thing, is that there is-no-one here. , it's beans, corn, hogs, cattle, then you are into Nebraska, Illinois, Minnesota, Missouri, depending on your N/S/E/W orientation of travel.
lol. Been there, and have to agree with your assessment. To be fair, it's Iowa-like from Ohio to mid-Colorado, South Dakota to Texas. Stay on the backroads away from the Interstates, and apart from the accents, it's mostly rural farmland. (Nothing wrong with that. It is, what it is.) I just hope you're upwind from the hogs and cattle. Chickens are supposed to be the worst.
And as for the mintage, this set was for the TWO HUNDRED AND TWENTY-FIFTH ANNIVERSARY. It may have been a little high, but it was a clever nod to their "celebration"...
Buy more.
Well, I might. First I have to determine if any of the people I give this stuff to at Christmas are worth $30. $15 C&C sets are one thing...
the large chicken farms can be smelled from miles and miles. and the stink hangs and hangs. it is worse than cows and horses. I've never been around a large pig farm.
while disagreeing with the idea of long term stocking stuffers, there are people who may be collectors that would enjoy this as a gift.
In all seriousness, while seeking the perfection of getting a 70 grade at a TPG...let's play a mind game: let's imagine that the GSA found and released the CC Morgans now and not back in the 1970s.
My question is this...what percentage of those coins would be returned to the GSA by collectors for being an "inferior/unacceptable" UNC grade?
@RichR said:
In all seriousness, while seeking the perfection of getting a 70 grade at a TPG...let's play a mind game: let's imagine that the GSA found and released the CC Morgans now and not back in the 1970s.
My question is this...what percentage of those coins would be returned to the GSA by collectors for being an "inferior/unacceptable" UNC grade?
I'm thinking 40% or higher!
If the GSA decided to charge $15 to $30 per coin, as they did when I bought several in the 1970s, returns would be 1% or lower. As I recall, returns were not an issue even back then, and if household order limits had not been put in place the coins would have sold out much faster than they did.
It was pretty much confirmed with the overselling of the gold Baseball Commems that the mint over-produces a product with the intention of using them to replace returned/damaged product. So they don't resell returned product, it is replaced.
THAT IS GOOD TO KNOW! Thanks for re-posting that!!
@RichR said:
I'll be a bit of a pisser here...but re Mint quality over the decades...
Ask me what I'd say if I had "only" received 69 quality coins from 1973 (my first purchase direct from the Mint) to about 2000 or so...
I'd have danced in the streets...that's what!
Back in the '70s and '80s...you would've been lucky if you were hitting 67s consistently!
Well, think about it. Are there any areas of industry that hasn't dramatically improved in the past 40 years? (Un-coincidentally, since the microprocessor was employed for everything from cad/cam to robotic control.) Better metallurgy, tolerances, design, fit and finishes improved everything from automobiles to airplanes to... coins.
Also consider sets like these are being specifically made for collectors, and are treated with better care than a normal circulating coin. These coins were probably struck more than once with a higher pressure to get the frosting effect, using computer created dies.
It doesn't surprise me that you'll get a lot of 70's, though I think the number may be skewed by big submitters not wanting anything less than a 70 to be slabbed. It'll be interesting to see the pops when they get posted...
It was pretty much confirmed with the overselling of the gold Baseball Commems that the mint over-produces a product with the intention of using them to replace returned/damaged product. So they don't resell returned product, it is replaced.
THAT IS GOOD TO KNOW! Thanks for re-posting that!!
What, you mean to say you haven't read all 1200+ messages in this thread? Shocking...
Fun fact...the "value" of a $30 coin during the GSA sales would roughly = $165/coin today.
At $165/coin, I'd like to know how many of those CC Morgans would be shipped back today due to "inferior" quality.
I still bet the returns would be significant.
Interesting note: a few years back, I asked my dad..."Dad...why did you only buy 5 coins? Why didn't you ask everyone in the family to buy more? You fool!"
His answer was, "Who are you calling a fool? $30 WAS A LOT OF MONEY BACK THEN!"
Ironic that the GSA Morgans and these sets are both roughly $30.
So, at that rate, I guess we'll all break a profit on these in the year 2057!!!
If this special set was a sellout.....AND....now selling for $200 per on the open market.....
Would the people posting on here still type the exact same words?
The mint made too many.
Marketing was terrible.
Just a question...........well?
I would post exactly the same words I have typed. I expect this set to have legs for years with prices in the $50-$100 range. I've said it since day 1. I still believe it.
I also do NOT believe the mint made too many or that marketing was terrible. They sold 200,000+ in a matter of minutes. ONE BIG CANCELLATION of 20,000 sets due to either insufficient funds or a change of heart created a cascade of cancellations and returns from "weak hands". In the long run, that is not an issue.
Fun fact...the "value" of a $30 coin during the GSA sales would roughly = $165/coin today.
At $165/coin, I'd like to know how many of those CC Morgans would be shipped back today due to "inferior" quality.
I still bet the returns would be significant.
Interesting note: a few years back, I asked my dad..."Dad...why did you only buy 5 coins? Why didn't you ask everyone in the family to buy more? You fool!"
His answer was, "Who are you calling a fool? $30 WAS A LOT OF MONEY BACK THEN!"
Ironic that the GSA Morgans and these sets are both roughly $30.
So, at that rate, I guess we'll all break a profit on these in the year 2057!!!
Actually, since most average GSA coins only sell for a little over $165 today (wholesale about that, retail $180-$200) you still haven't made a profit on your GSA purchases 40 years ago. That's especially if you consider what the same $30 invested in a U.S. government savings bond would be worth over $200 today.
@coinpalice said:
I knew they wouldn't mint 225,000. they will be sold out before the month ends
I'm waffling on whether that includes damaged items
I'm thinking not.
I'm not familiar with "backorder" procedures. It seems possible that the "in stock" number and the mintage limit are two different things. It seems possible that they have 10k in stock but 25k on backorder.
Otherwise how do people resolve the recent huge decline in the sets sold with this 10k figure? sales don't seem like it can cover it as we'd have sold ~25k in a few days when we could not sell 10k over a couple of weeks. Possible, but not probable in my opinion.
On the other hand, the mint PR office could have double counted the returns from days 1 and 2 in that decline. Possible? Probable?
@coinpalice said:
I knew they wouldn't mint 225,000. they will be sold out before the month ends
I'm waffling on whether that includes damaged items
I'm thinking not.
I'm not familiar with "backorder" procedures. It seems possible that the "in stock" number and the mintage limit are two different things. It seems possible that they have 10k in stock but 25k on backorder.
Otherwise how do people resolve the recent huge decline in the sets sold with this 10k figure? sales don't seem like it can cover it as we'd have sold ~25k in a few days when we could not sell 10k over a couple of weeks. Possible, but not probable in my opinion.
On the other hand, the mint PR office could have double counted the returns from days 1 and 2 in that decline. Possible? Probable?
What coinpalice is suggesting is that they've only sold 190,000-ish and with only 9,000 left to sell, the returns were scrapped.
Of course, it's also possible that they are still processing returns and simply haven't made them available yet.
While the numbers suggest that it is POSSIBLE that the mint is tossing returned sets and not replacing them, there is simply no information that would definitively prove that at this point.
@coinpalice said:
I knew they wouldn't mint 225,000. they will be sold out before the month ends
Can't really know that from those numbers. If they are retooling, they may have not added the new issues to "available" yet. On the other hand, they could have deducted returns from the Tuesday "sold" number but not yet added them to "available" yet as they are still inspecting/processing them.
This far into the sales of 225 K, I don't think there is any "retooling" by the USMint.
From an automotive metal stamping QC guy. No-one "retools' with 10 K to go.
MHO
I would say I agree with you, but I simply find you distasteful.
"retooling" would mean to set up the presses to strike another run of the coins if they scrapped some of the original minting. Personally, I've said many times that I think they would simply let the coins sell out at 195,000 rather than 225,000 rather than "retool", but there was some disagreement about that on this board.
Your head probably hurts just because it's inflated. Or it could be a tumor. Maybe you ought to check that out rather than jump on here just to troll.
@BigA said:
SO if the number sold 4 days ago was 187,304:
Figures released through Aug. 27 have the 10-coin Enhanced Uncirculated Set dropping by 23,969 to 187,304 sets. >
..and there are 9812 left....
Do you REALLY think they have sold 27,884 in 3.5 days?
..or...is the number of available sets sold to be only around 200k in the end (after rejects)
There could simply be returns that haven't been processed. They've been deducted from sold because returned, but not yet processed or made available again for sale.
"retooling" would mean to set up the presses to strike another run of the coins if they scrapped some of the original minting.
Even with what you define retooling to be, no one would do that. Sell to the end.
Sorry to disagree with you.
I'm pretty sure it's a tumor.
Actually, you don't disagree with me. I don't think they would ever bother to mint more of the product, no matter how many they trashed in returns because it isn't worth the time/money just to hit the target mintage. BUT, other people feel they would try to get to 225,000 sets minted by any means. It's actually them that you disagree with.
How does the 225k mintage compare with Mint Sets & Proof Sets for the past few years?
It seems this is a win-win coin set.
It's an in-betweener set that I think most Mint & Proof Set collectors would want.
I'm in for 10 sets, in case your wondering.
I'm thinking of buying a few more.
With a breakdown of $3 a coin, there's plenty of room for growth.
And speculation the mintage will be less than 225k.
How can you go wrong for say a 5 year holding?
@aus3000tin said:
How does the 225k mintage compare with Mint Sets & Proof Sets for the past few years?
It seems this is a win-win coin set.
It's an in-betweener set that I think most Mint & Proof Set collectors would want.
I'm in for 10 sets, in case your wondering.
I'm thinking of buying a few more.
With a breakdown of $3 a coin, there's plenty of room for growth.
And speculation the mintage will be less than 225k.
How can you go wrong for say a 5 year holding?
Chris
The mint sets have been selling around 250,000+ per year (2016 has sold 290,000 to date, 2017 has sold 195,000 to date) . The proof sets about 500,000 (2016 sold 595,000 sets, 2017 has sold 346,000 to date). But that is deceptive as the number of each has been dropping somewhat precipitously. In 2010, for example, the Mint sold over 1.1 million proof sets, in 2009 almost 1.5 million. Mint sets used to sell over a million per year with 1.1 million sold as late as 2005.
I'm going to wager that the Mint is simply going to scrap the bulk of the returns as unsaleable...if nothing more than to simply move past this nightmare are quickly as possible. No way do I see them sending out potentially damaged goods and having them returned again...or striking up replacement stock.
But I'd also predict that the Mint will be revising it's ultra liberal cancellation and return policy...and that these will come in at significantly under 225,000 when the dust settles.
I'm going to wager that the Mint is simply going to scrap the bulk of the returns as unsaleable...if nothing more than to simply move past this nightmare are quickly as possible. No way do I see them sending out potentially damaged goods and having them returned again...or striking up replacement stock.
But I'd also predict that the Mint will be revising it's ultra liberal cancellation and return policy...and that these will come in at significantly under 225,000 when the dust settles.
Just my prediction.
it used to be a heck of a lot longer, 30 days? My longest return was 6 months or something crazy like that.
@aus3000tin said:
How does the 225k mintage compare with Mint Sets & Proof Sets for the past few years?
It seems this is a win-win coin set.
It's an in-betweener set that I think most Mint & Proof Set collectors would want.
I'm in for 10 sets, in case your wondering.
I'm thinking of buying a few more.
With a breakdown of $3 a coin, there's plenty of room for growth.
And speculation the mintage will be less than 225k.
How can you go wrong for say a 5 year holding?
Chris
Sales have been decreasing over the years, but 225K is still below yearly sales. In the long run, I'd probably compare this set to a proof set more than an uncirculated set...
Uncirculated and Proof Sets, 2000-2017 (As of Sep 1, 2017)
First Strike cutoff was yesterday. Hard to believe a month has already passed on these. I submitted some cents and half dollars (again). I could have possibly submitted Sac $1's and netted $1 or $2/coin if the grading went well, but decided to simply submit more cents and half dollars instead. The other (7) coins are real "duds" from the standpoint of grading. I see the last 70FS dime sold on ebay yesterday for less than $8, the last 70FS nickel around $10 and the last 70FS quarters around $8/coin as well. My bulk grading fees are well over those levels on the coins, so those (7) coins appear to big huge losers. No doubt a tiny profit overall can possibly be had on the sets on ebay when factoring in the cents. But, I realized from Day 2 or 3 that this was quite possibly a busted deal. I tossed the better part of 1,000 sets into storage to revisit them next year. Dead money now. Sure, I thought of simply returning them, but essentially decided to keep what I bought in the end. With a little luck, the coins will achieve my targeted valuation in a couple years and Justin can sell them on eBay for years to come possibly getting 2,500 - 5,000+ additional feedbacks from selling these coins. And, who knows, Justin might land the customer of his lifetime selling him a raw Enhanced Roosevelt Dime on the bay!
As always, just my two cents. Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
@wondercoin said:
First Strike cutoff was yesterday. Hard to believe a month has already passed on these. I submitted some cents and half dollars (again). I could have possibly submitted Sac $1's and netted $1 or $2/coin if the grading went well, but decided to simply submit more cents and half dollars instead. The other (7) coins are real "duds" from the standpoint of grading. I see the last 70FS dime sold on ebay yesterday for less than $8, the last 70FS nickel around $10 and the last 70FS quarters around $8/coin as well. My bulk grading fees are well over those levels on the coins, so those (7) coins appear to big huge losers. No doubt a tiny profit overall can possibly be had on the sets on ebay when factoring in the cents. But, I realized from Day 2 or 3 that this was quite possibly a busted deal. I tossed the better part of 1,000 sets into storage to revisit them next year. Dead money now. Sure, I thought of simply returning them, but essentially decided to keep what I bought in the end. With a little luck, the coins will achieve my targeted valuation in a couple years and Justin can sell them on eBay for years to come possibly getting 2,500 - 5,000+ additional feedbacks from selling these coins. And, who knows, Justin might land the customer of his lifetime selling him a raw Enhanced Roosevelt Dime on the bay!
As always, just my two cents. Wondercoin
I'm a bit more sanguine than you. I believe these sets will hold value and be $50 sets for years to come. Not a home run, mind you, but solid saleable coins well beyond the average mint or proof set. Actually, well beyond the average silver proof set which also don't hold their price point very well, with a few rare exceptions (2012).
It did not end up a quick flip for profit. But I think we'll ultimately see a decent return on these. Of course, there's a lot of work in breaking open sets and selling singly. So maybe not the kind of profit worth the effort. But, for me, it's something I do at night to keep me busy not a way to make a living. So, I consider my time pretty cheap. LOL.
Comments
No new offerings from the Mint until October, so I'm just stirring up trouble here...
I should to post to the 20th anniv platinum thread, since the same bizarre sales are going on over there.
I could also go and update those abysmal commem and AmLib numbers. Does seem like no one cares at this point.
The reports of sub-$200 70 sets on ebay can't be matched by most mortal human members here, so I'd expect the BST to be devoid of those sets until prices pick up. Or at least stabilize...
The last mintage numbers have the sales at 37.7K to max mintage. numaler said over 10K were available a couple of days ago. Even assuming they struck some sets for returns in anticipation of a sell-out, returns are probably less than 20K.
Well, I think the money I spent on my 8 sets was a decent, speculative investment. (Two are for my collection the other 6 got added to my brown paper box collection.) Along with the coin guys who usually pass on circulating coin sets who bought one because they're... cool, mint, proof and silver proof sets have decent sales throughout the year, so those casual collectors who don't pay attention will eventually find them. The $30 price point doesn't hurt. I think in the long run this set will do okay, less so if this EU set is not a one run and done.
If mintage was say, 100K, I'd have bought a few more. But 225K sets is still close to a quarter million sets. It's like the platinum proof. I think a lot bought in thinking 10K is a small number, but found out it's a big number compared to the platinum collectors.
As I posted somewhere in this thread, don't confuse returns with cancels. Cancels cost almost nothing, just a shift of numbers in PFSWeb's computers. They don't pay the postage unless there was a problem with the sets being returned, so that'll also reduce costs. And they're selling 10 pieces of base metal, two lenses and a paper box for $30, pressed out by the same guys who used to strike 5 times the number of proof and silver proof sets just a few years ago.
Let's not yet break out the violins and play a sad song for the Mint...
What else would you have put on the coin? It has to be an ATB subject, so Radar O'Reilly doesn't qualify...
lol. Been there, and have to agree with your assessment. To be fair, it's Iowa-like from Ohio to mid-Colorado, South Dakota to Texas. Stay on the backroads away from the Interstates, and apart from the accents, it's mostly rural farmland. (Nothing wrong with that. It is, what it is.) I just hope you're upwind from the hogs and cattle. Chickens are supposed to be the worst.
Well, I might. First I have to determine if any of the people I give this stuff to at Christmas are worth $30. $15 C&C sets are one thing...
This is correct.
Some thought they were going to make a killing off us 'Collectors'.
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
the large chicken farms can be smelled from miles and miles. and the stink hangs and hangs. it is worse than cows and horses. I've never been around a large pig farm.
while disagreeing with the idea of long term stocking stuffers, there are people who may be collectors that would enjoy this as a gift.
Bulk sales should not be allowed to be returned or cancelled UNLESS there ia a legitimate quality problem.
The coin being a 69 vs a 70 is not a legitimate quality problem.
JMHO,,,,,
I'll be a bit of a pisser here...but re Mint quality over the decades...
Ask me what I'd say if I had "only" received 69 quality coins from 1973 (my first purchase direct from the Mint) to about 2000 or so...
I'd have danced in the streets...that's what!
Back in the '70s and '80s...you would've been lucky if you were hitting 67s consistently!
In all seriousness, while seeking the perfection of getting a 70 grade at a TPG...let's play a mind game: let's imagine that the GSA found and released the CC Morgans now and not back in the 1970s.
My question is this...what percentage of those coins would be returned to the GSA by collectors for being an "inferior/unacceptable" UNC grade?
I'm thinking 40% or higher!
Question....
If this special set was a sellout.....AND....now selling for $200 per on the open market.....
Would the people posting on here still type the exact same words?
The mint made too many.
Marketing was terrible.
Just a question...........well?
If the GSA decided to charge $15 to $30 per coin, as they did when I bought several in the 1970s, returns would be 1% or lower. As I recall, returns were not an issue even back then, and if household order limits had not been put in place the coins would have sold out much faster than they did.
My Adolph A. Weinman signature
THAT IS GOOD TO KNOW! Thanks for re-posting that!!
Well, think about it. Are there any areas of industry that hasn't dramatically improved in the past 40 years? (Un-coincidentally, since the microprocessor was employed for everything from cad/cam to robotic control.) Better metallurgy, tolerances, design, fit and finishes improved everything from automobiles to airplanes to... coins.
Also consider sets like these are being specifically made for collectors, and are treated with better care than a normal circulating coin. These coins were probably struck more than once with a higher pressure to get the frosting effect, using computer created dies.
It doesn't surprise me that you'll get a lot of 70's, though I think the number may be skewed by big submitters not wanting anything less than a 70 to be slabbed. It'll be interesting to see the pops when they get posted...
What, you mean to say you haven't read all 1200+ messages in this thread? Shocking...
Fun fact...the "value" of a $30 coin during the GSA sales would roughly = $165/coin today.
At $165/coin, I'd like to know how many of those CC Morgans would be shipped back today due to "inferior" quality.
I still bet the returns would be significant.
Interesting note: a few years back, I asked my dad..."Dad...why did you only buy 5 coins? Why didn't you ask everyone in the family to buy more? You fool!"
His answer was, "Who are you calling a fool? $30 WAS A LOT OF MONEY BACK THEN!"
Ironic that the GSA Morgans and these sets are both roughly $30.
So, at that rate, I guess we'll all break a profit on these in the year 2057!!!
I would post exactly the same words I have typed. I expect this set to have legs for years with prices in the $50-$100 range. I've said it since day 1. I still believe it.
I also do NOT believe the mint made too many or that marketing was terrible. They sold 200,000+ in a matter of minutes. ONE BIG CANCELLATION of 20,000 sets due to either insufficient funds or a change of heart created a cascade of cancellations and returns from "weak hands". In the long run, that is not an issue.
Actually, since most average GSA coins only sell for a little over $165 today (wholesale about that, retail $180-$200) you still haven't made a profit on your GSA purchases 40 years ago. That's especially if you consider what the same $30 invested in a U.S. government savings bond would be worth over $200 today.
back under 10k
I knew they wouldn't mint 225,000. they will be sold out before the month ends
I'm waffling on whether that includes damaged items
I'm thinking not.
I'm not familiar with "backorder" procedures. It seems possible that the "in stock" number and the mintage limit are two different things. It seems possible that they have 10k in stock but 25k on backorder.
Otherwise how do people resolve the recent huge decline in the sets sold with this 10k figure? sales don't seem like it can cover it as we'd have sold ~25k in a few days when we could not sell 10k over a couple of weeks. Possible, but not probable in my opinion.
On the other hand, the mint PR office could have double counted the returns from days 1 and 2 in that decline. Possible? Probable?
you can bet the damaged coins is not included in latest in stock number, hence final mintage number will hover in the 205,000 range
damaged ogp is more like it, although spotted coins could be sent back.
i'm thinking there are very few truly damaged coins.
What coinpalice is suggesting is that they've only sold 190,000-ish and with only 9,000 left to sell, the returns were scrapped.
Of course, it's also possible that they are still processing returns and simply haven't made them available yet.
While the numbers suggest that it is POSSIBLE that the mint is tossing returned sets and not replacing them, there is simply no information that would definitively prove that at this point.
Can't really know that from those numbers. If they are retooling, they may have not added the new issues to "available" yet. On the other hand, they could have deducted returns from the Tuesday "sold" number but not yet added them to "available" yet as they are still inspecting/processing them.
"If they are retooling, "
My head hurts.
This far into the sales of 225 K, I don't think there is any "retooling" by the USMint.
From an automotive metal stamping QC guy. No-one "retools' with 10 K to go.
MHO
Thanks...
SO if the number sold 4 days ago was 187,304:
..and there are 9812 left....
Do you REALLY think they have sold 27,884 in 3.5 days?
..or...is the number of available sets sold to be only around 200k in the end (after rejects)
or is the 25k the stuff that would be on backorder? 10k available now, 25k backorder?
I didn't know it ever went to backorder. It was "add to bag", "currently unavailable" and "add to bag"...rinse and repeat
There was never a "future ship date" displayed as in the past for backordered items
I would say I agree with you, but I simply find you distasteful.
"retooling" would mean to set up the presses to strike another run of the coins if they scrapped some of the original minting. Personally, I've said many times that I think they would simply let the coins sell out at 195,000 rather than 225,000 rather than "retool", but there was some disagreement about that on this board.
Your head probably hurts just because it's inflated. Or it could be a tumor. Maybe you ought to check that out rather than jump on here just to troll.
There could simply be returns that haven't been processed. They've been deducted from sold because returned, but not yet processed or made available again for sale.
Ok...makes sense. i guess we'll see
Even with what you define retooling to be, no one would do that. Sell to the end.
Sorry to disagree with you.
I'm pretty sure it's a tumor.
Actually, you don't disagree with me. I don't think they would ever bother to mint more of the product, no matter how many they trashed in returns because it isn't worth the time/money just to hit the target mintage. BUT, other people feel they would try to get to 225,000 sets minted by any means. It's actually them that you disagree with.
How do I turn off the notifications for this thread?! MAKE THE VOICES STOP!
Insert witicism here. [ xxx ]
I think it is the "star" (below)
check to see if it is yellow for you.
if it is yellow, select the star to turn it off. just be aware than an angel will die because of this action.
@MsMorrisine thanks for that. But it was already an empty star to begin with.
Insert witicism here. [ xxx ]
so you don't miss anything, I'll PM you every time someone posts to the thread
.
How does the 225k mintage compare with Mint Sets & Proof Sets for the past few years?
It seems this is a win-win coin set.
It's an in-betweener set that I think most Mint & Proof Set collectors would want.
I'm in for 10 sets, in case your wondering.
I'm thinking of buying a few more.
With a breakdown of $3 a coin, there's plenty of room for growth.
And speculation the mintage will be less than 225k.
How can you go wrong for say a 5 year holding?
Chris
The mint sets have been selling around 250,000+ per year (2016 has sold 290,000 to date, 2017 has sold 195,000 to date) . The proof sets about 500,000 (2016 sold 595,000 sets, 2017 has sold 346,000 to date). But that is deceptive as the number of each has been dropping somewhat precipitously. In 2010, for example, the Mint sold over 1.1 million proof sets, in 2009 almost 1.5 million. Mint sets used to sell over a million per year with 1.1 million sold as late as 2005.
I'm going to wager that the Mint is simply going to scrap the bulk of the returns as unsaleable...if nothing more than to simply move past this nightmare are quickly as possible. No way do I see them sending out potentially damaged goods and having them returned again...or striking up replacement stock.
But I'd also predict that the Mint will be revising it's ultra liberal cancellation and return policy...and that these will come in at significantly under 225,000 when the dust settles.
Just my prediction.
The > @RichR said:
it used to be a heck of a lot longer, 30 days? My longest return was 6 months or something crazy like that.
@MsMorrisine only bookmark I have is this one:
Insert witicism here. [ xxx ]
Sales have been decreasing over the years, but 225K is still below yearly sales. In the long run, I'd probably compare this set to a proof set more than an uncirculated set...
* denotes set is still on sale.
First Strike cutoff was yesterday. Hard to believe a month has already passed on these. I submitted some cents and half dollars (again). I could have possibly submitted Sac $1's and netted $1 or $2/coin if the grading went well, but decided to simply submit more cents and half dollars instead. The other (7) coins are real "duds" from the standpoint of grading. I see the last 70FS dime sold on ebay yesterday for less than $8, the last 70FS nickel around $10 and the last 70FS quarters around $8/coin as well. My bulk grading fees are well over those levels on the coins, so those (7) coins appear to big huge losers. No doubt a tiny profit overall can possibly be had on the sets on ebay when factoring in the cents. But, I realized from Day 2 or 3 that this was quite possibly a busted deal. I tossed the better part of 1,000 sets into storage to revisit them next year. Dead money now. Sure, I thought of simply returning them, but essentially decided to keep what I bought in the end. With a little luck, the coins will achieve my targeted valuation in a couple years and Justin can sell them on eBay for years to come possibly getting 2,500 - 5,000+ additional feedbacks from selling these coins. And, who knows, Justin might land the customer of his lifetime selling him a raw Enhanced Roosevelt Dime on the bay!
As always, just my two cents. Wondercoin
I'm a bit more sanguine than you. I believe these sets will hold value and be $50 sets for years to come. Not a home run, mind you, but solid saleable coins well beyond the average mint or proof set. Actually, well beyond the average silver proof set which also don't hold their price point very well, with a few rare exceptions (2012).
It did not end up a quick flip for profit. But I think we'll ultimately see a decent return on these. Of course, there's a lot of work in breaking open sets and selling singly. So maybe not the kind of profit worth the effort. But, for me, it's something I do at night to keep me busy not a way to make a living. So, I consider my time pretty cheap. LOL.
How long can the Mint keep on selling the 225th set.. ?
2016 unc set is still on sale