Who is buying the $149.95 San Fran Silver Eagle Set on Thursday?
dtkk49a
Posts: 2,490 ✭✭✭
It will run you 149.95 for two coins and there is no mintage limit. However, they will only be on sale for about a month.
I am buying.
I am buying.
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They call me "Pack the Ripper"
They call me "Pack the Ripper"
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I was gonna pick up a set or two before I saw the price.
Too many positive BST transactions with too many members to list.
<< <i>It will run you 149.95 for two coins and there is no mintage limit. However, they will only be on sale for about a month.
I am buying. >>
Do you know how many sets they can sell in a month?
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Just one set to keep the collection current.
~~~~~~~~~~~~
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Price is way high.
In God We Trust.... all others pay in Gold and Silver!
<< <i>This is a $89.95 set going for $149.95 >>
How did you come up with that number? The regular proofs go for $59.95 so with zero premium for the RP it would be $119.90...
<< <i>This is a $89.95 set going for $149.95 >>
How dare the Mint muscle in on the flipper's margin.
<< <i>
<< <i>This is a $89.95 set going for $149.95 >>
How did you come up with that number? The regular proofs go for $59.95 so with zero premium for the RP it would be $119.90... >>
59.95 is too high for 1oz of silver...... even a proof IMHO. Silver is around $28.00 per oz.
In God We Trust.... all others pay in Gold and Silver!
<< <i>
<< <i>
<< <i>This is a $89.95 set going for $149.95 >>
How did you come up with that number? The regular proofs go for $59.95 so with zero premium for the RP it would be $119.90... >>
59.95 is too high for 1oz of silver...... even a proof IMHO. Silver is around $28.00 per oz. >>
I agree this is a rediculous price for these!!
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<< <i>I'll be in for two immediately..and then time will tell (which means that after the smoke clears this will end up being an ultra low mintage). >>
I think the only reason these would be low mintage after a month of selling them, is if no one wants to pay the high price for them. I still don't think that the investment side of these will ever be worth it.
My Original Song Written to my late wife-"Plus other original music by me"
https://youtube.com/playlist?list=PL8A11CC8CC6093D80
U.S. Army Veteran 1/11 ACR Fulda, Germany
Link to auction
The eBay presales look pretty bad!!! Is it a sign of things to come
Link to presales
Mark my words...this may be such an initial turnoff...it may end up being a sleeeper hit.
Hell...the UHR Eagles were always popular...and people still ended up making money on them.
No rush here.
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
<< <i>Just one set to keep the collection current. >>
You do the math ! ! ! !
I guess time will tell ?
Good luck all ! !
That's right - period.
So count me out on the over priced eagles on Thursday.
Edited to add: I'll be playing Pinehurst #5 on Thursday. A bad day on the golf course is far better than a good day trying to place an order with the US Mint.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
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With all the bad press the Mint has generated in the last few years you would think they might throw us a bone..."-(
Anyone know who's making those Boxes...? ( Hope they're not from China "-(
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Take Care, Dave
When the early proof ASE's came out they routinely sold for a 400-500% markup over their silver content. Now a 100% markup is bashed around....(proof ASE's)
The Mint is selling NUMISMATIC products and has the right to price them any way they want. It is up to the collector to decide whether this is something they want....or not. It seems that now the whining goes on like it is a needed life sustaining item....like beer
....and, yes, I think the price is a tad high. I thought $119-129 would have been more appropriate. So I will order 4-5 sets instead of the 10 I had planned on. No big deal....
<< <i>I find it interesting that the discussion about appropriate prices for ALL precious metal NUMISMATIC items are now directly related to their metal content value. I don't remember this as a purchase determining factor years ago.
When the early proof ASE's came out they routinely sold for a 400-500% markup over their silver content. Now a 100% markup is bashed around....(proof ASE's)
The Mint is selling NUMISMATIC products and has the right to price them any way they want. It is up to the collector to decide whether this is something they want....or not. It seems that now the whining goes on like it is a needed life sustaining item....like beer
....and, yes, I think the price is a tad high. I thought $119-129 would have been more appropriate. So I will order 4-5 sets instead of the 10 I had planned on. No big deal.... >>
I agree with all of this. Bullion is bullion, and coins struck for collectors are not sold as bullion. On the secondary market in moderns you have bullion, semi-numismatic or bullion related, and pure collector issues (not bullion related). My order is will still be large, but trimmed back quite a bit.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
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800-381-2646
<< <i>
<< <i>I find it interesting that the discussion about appropriate prices for ALL precious metal NUMISMATIC items are now directly related to their metal content value. I don't remember this as a purchase determining factor years ago.
When the early proof ASE's came out they routinely sold for a 400-500% markup over their silver content. Now a 100% markup is bashed around....(proof ASE's)
The Mint is selling NUMISMATIC products and has the right to price them any way they want. It is up to the collector to decide whether this is something they want....or not. It seems that now the whining goes on like it is a needed life sustaining item....like beer
....and, yes, I think the price is a tad high. I thought $119-129 would have been more appropriate. So I will order 4-5 sets instead of the 10 I had planned on. No big deal.... >>
I agree with all of this. Bullion is bullion, and coins struck for collectors are not sold as bullion. On the secondary market in moderns you have bullion, semi-numismatic or bullion related, and pure collector issues (not bullion related). My order is will still be large, but trimmed back quite a bit.
John >>
john...i know you know way more that i do on this subject....but let us look at the spouse series....theoretically this should classify as a collector coin and 5 years after issue you can pick up some of these issues for spot + a couple of bucks....i really think it all comes down to perceived demand....and while the collector base in the ASE series is significant....i think the public is gun shy at this point....USM has thrown so much at the collecting public they just don't know what is attractive at this point....sort of like the recent Facebook IPO....too much hype and a overpriced product makes the public just scratch their head and say really what am i paying for here???? personally i was going to buy 5 of these....but i think i will pass...
jmho
gyros
Box of 20
<< <i>john...i know you know way more that i do on this subject....but let us look at the spouse series....theoretically this should classify as a collector coin and 5 years after issue you can pick up some of these issues for spot + a couple of bucks....i really think it all comes down to perceived demand....and while the collector base in the ASE series is significant....i think the public is gun shy at this point....USM has thrown so much at the collecting public they just don't know what is attractive at this point....sort of like the recent Facebook IPO....too much hype and a overpriced product makes the public just scratch their head and say really what am i paying for here???? personally i was going to buy 5 of these....but i think i will pass... >>
gold spouse series will prove to be a sleeper years down the road. Just because they have not become a flip opportunity as many flippers had hoped for does not mean there will not be great demand for them much later. For the long term speculator they are a bargain, especially with gold in a bull trend. There is no guarantee they will continue to issue them either. When available for just over spot they are an excellent bullion play. The Liberty subset is the best play for future demand.
Velocity, Not Valuation Defines A Bubble.
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Look ... the reality is that whether MCM (or myself for that matter) orders a "ton" of these or only 2/3 or 1/2 of a ton, that profit opportunity for an expert is simply not the same opportunity as 90%+ of the folks reading these boards or ordering these coins from the US Mint. The experts may likely have their profits locked in well before the masses can even figure out what they are going to do with their latest US Mint purchase. Dealers are likely not buying a "ton" of these to "tuck away" and not resell as quickly as the experts just dumped their FB IPO shares they received, and certainly are not getting their mothers to pull their funds from their 1% CD's to grab these sets for a long-term hold ... or I am wrong on this assumption?
You have determined that you have better things to do with your money (like the AAPL you have been buying since around $100/share and I did not listen to you in the $300's). You obviously smell the overconfidence and wishful thinking of this offering a mile away (again from the standpoint of a coin enthusiast and not a modern coin dealer who may well do just fine with these). Of course, you may be right and you may be wrong.
I may certainly purchase some of these myself in the next 24-72 hours ... I might even purchase a lot more if I can figure out where to "dump them" as soon as they come back from grading. That said, I do not dispute these coins have a shot at being a decent purchase especially if certain events fall into place.
As always, just my 2 cents.
Wondercoin
i clearly understand that dealers like you and john play in a totally different arena....and yes, you guys will do just fine with these....but look the USM is just not creating any value here at $149 for the little guy like me and the masses....they are trying but the direction they are going is just unclear at this point....
nice that they are making this set, but i think it is the result of the tremendous demand for the 25th Anniv. Set....but that was a different dog...and to come back to the public and sell this set for a price that just makes no sense is greedy at best....at least they are doing it to demand..right????
bottom line USM lost focus and is just throwing product out there and see what is sticking....
5 years go you could line up your purchases and have a year long plan....now....what???? randomness at best....Platinums always were released in May/June....now who knows....i could go on....but you get my point....
the average modern collector guy is just confused at this point and no longer can fund the trinkets and whims of the USM...
jmho
<< <i>
<< <i>It will run you 149.95 for two coins and there is no mintage limit. However, they will only be on sale for about a month.
I am buying. >>
Do you know how many sets they can sell in a month?
No. Do you?
How many?
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
There was a part of me that was not going to buy a single set of these coins on opening day, in part, for many of the reasons you outlined. If I do buy any, it will simply be a "dumping" opportunity I decide to participate in ... I am programmed to spend "X" amount of dollars with PCGS each month ... I might as well sprinkle some $$$ their way again as usual. I feel no "passion" for these coins like I did with the 2011 25th Anniv sets (do you or anyone else here ?)
As always, just my 2 cents.
Wondercoin
<< <i>
<< <i>john...i know you know way more that i do on this subject....but let us look at the spouse series....theoretically this should classify as a collector coin and 5 years after issue you can pick up some of these issues for spot + a couple of bucks....i really think it all comes down to perceived demand....and while the collector base in the ASE series is significant....i think the public is gun shy at this point....USM has thrown so much at the collecting public they just don't know what is attractive at this point....sort of like the recent Facebook IPO....too much hype and a overpriced product makes the public just scratch their head and say really what am i paying for here???? personally i was going to buy 5 of these....but i think i will pass... >>
gold spouse series will prove to be a sleeper years down the road. Just because they have not become a flip opportunity as many flippers had hoped for does not mean there will not be great demand for them much later. For the long term speculator they are a bargain, especially with gold in a bull trend. There is no guarantee they will continue to issue them either. When available for just over spot they are an excellent bullion play. The Liberty subset is the best play for future demand. >>
Just make sure you live long enough to profit from it.
<< <i>I find it interesting that the discussion about appropriate prices for ALL precious metal NUMISMATIC items are now directly related to their metal content value. I don't remember this as a purchase determining factor years ago.
When the early proof ASE's came out they routinely sold for a 400-500% markup over their silver content. Now a 100% markup is bashed around....(proof ASE's)
The Mint is selling NUMISMATIC products and has the right to price them any way they want. It is up to the collector to decide whether this is something they want....or not. It seems that now the whining goes on like it is a needed life sustaining item....like beer
....and, yes, I think the price is a tad high. I thought $119-129 would have been more appropriate. So I will order 4-5 sets instead of the 10 I had planned on. No big deal.... >>
I agree, people are complaining too high. What would your flip price be? Under $150 if you got these for $100? I doubt it, its only too high when a buck can't be made. This will be the norm from now on I would guess. No more gifts from the Mint.
I've pretty much given up believing that I'll see a competent mint director in my lifetime. Missed opportunities
just seem to keep piling up. This set was made for dads & grads, and should have been promoted as such.
These should have been sold 3 months ago and shipped last month. Price would have been spot on for that
promotion. But releasing now, at the start of the slow summer season, it's being seen for what it is - a hastily
made overpriced product prone to spotting.
So of course I'll be in for a set or two
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>I've pretty much given up believing that I'll see a competent mint director in my lifetime. Missed opportunities
just seem to keep piling up. This set was made for dads & grads, and should have been promoted as such.
These should have been sold 3 months ago and shipped last month. Price would have been spot on for that
promotion. But releasing now, at the start of the slow summer season, it's being seen for what it is - a hastily
made overpriced product prone to spotting.
So of course I'll be in for a set or two
I will buy a couple also and that is what the Mint is counting on, that most people will buy based on the hype the anniversary set created last year.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
getting the cream of the crop before the inevitable returned-to-the-mint-because-they're-not-ms70's start to be redistributed to the general buying public.
<< <i>I'll consider buying a PCGS F/S 70 set from MCM or Wondercoin >>
How much were you paid to say this
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
There is enough time to watch eBay....grades to start popping etc.
Loves me some shiny!
“Often wrong, but never in doubt.”
How much were you paid to say this "
I paid nothing ... but, it did give me encouragement that I had a 50-50 chance of selling one 70 set!! LOL.
Based upon that, I think I will order some tomorrow. And, I'll go a step further ... I will TRY to meet or beat any advertised published price out there for PCGS (repeat PCGS) graded 70 sets.
Wondercoin
<< <i>
<< <i>
<< <i>I find it interesting that the discussion about appropriate prices for ALL precious metal NUMISMATIC items are now directly related to their metal content value. I don't remember this as a purchase determining factor years ago.
When the early proof ASE's came out they routinely sold for a 400-500% markup over their silver content. Now a 100% markup is bashed around....(proof ASE's)
The Mint is selling NUMISMATIC products and has the right to price them any way they want. It is up to the collector to decide whether this is something they want....or not. It seems that now the whining goes on like it is a needed life sustaining item....like beer
....and, yes, I think the price is a tad high. I thought $119-129 would have been more appropriate. So I will order 4-5 sets instead of the 10 I had planned on. No big deal.... >>
I agree with all of this. Bullion is bullion, and coins struck for collectors are not sold as bullion. On the secondary market in moderns you have bullion, semi-numismatic or bullion related, and pure collector issues (not bullion related). My order is will still be large, but trimmed back quite a bit.
John >>
john...i know you know way more that i do on this subject....but let us look at the spouse series....theoretically this should classify as a collector coin and 5 years after issue you can pick up some of these issues for spot + a couple of bucks....i really think it all comes down to perceived demand....and while the collector base in the ASE series is significant....i think the public is gun shy at this point....USM has thrown so much at the collecting public they just don't know what is attractive at this point....sort of like the recent Facebook IPO....too much hype and a overpriced product makes the public just scratch their head and say really what am i paying for here???? personally i was going to buy 5 of these....but i think i will pass...
jmho
gyros >>
What derryb and Mitch said. Also, I don't think the point is what SOME of them end up as (in the short term especially) but what they were issued as. If the mint decided to charge distributors 10% over spot for bullion instead of 3% over spot that would be a problem. But they can charge pretty much whatever they want for collector issues. Your choice is to buy or not to buy, nothing more. If they see a pattern of declining sales they would probably re-think their pricing, otherwise they will stick with it or even go higher. Would I like to see these at $119 or $129? You bet. Am I losing sleep over it? Not at all. The moment they announced minting to demand, I knew I was staring at an unexciting 5% or so profit after grading fees and credit card fees etc. as well as potential losses on 69's after it's all said and done.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646