Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
It seems to work in short bursts. I was having trouble continuing checkout after the mailing address portion, it would just keep looping back to the beginning. Suddenly it was able to go the whole way though with no problems.
Roughly 20,000 orders by the time you got through the mess the Mint calls a check out system. The way its going there won't be a sell out today....well maybe. More likely it could take an extra day.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
So, how much value are the coins worth in 69 and 70 holders right out of the box (with the theory that prices usually go down after the first sellers offer coins out there on eBay)?
Well, we will need to decide even within the first 4 hours of the deal whether we want to match or beat one seller on ebay who has the presale price set at $600 for 69's and $700 for 70's.
Assume a 50-50 grade through rate (but hope for higher) ...
Assume cost on the raw coins is at least $540 in quantity (I believe I paid at least that much for every coin on these boards thus far) Assume a cost of about $25 to grade 70's and $10 on 69's in large quantities, shipping back and forth to the grading services, etc. (I know it could even higher, this is conservative) Assume ebay and paypal fees for 99% of the sellers on eBay (including myself) to be about $58/coin and the free shipping to be around $10 with a signature confirmation
Result -
Cost of 69's to sell on eBay - $610+ Cost of 70's to sell on eBay - $640+
So, one loses $11 on every 69 graded and makes about $59 on every 70 graded. That blends to about a $24/profit per coin assuming everything goes well. So, putting up $540+ to try to make $24 or about a 4% return. And, that assumes no one undercuts the first seller out there (which is likely to happen as early as tomorrow evening! LOL) Welcome to the new world of trying to make any money on newly released "hot" mint product.
And, if anyone got paid, say, $75/coin over cost for their raw coins, that would result in a $1 loss per coin to the submittor right out of the box on every coin! Did I miss anything? Any figures wrong here?
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.
Originally posted by: wondercoin "So, how much value are the coins worth in 69 and 70 holders right out of the box (with the theory that prices usually go down after the first sellers offer coins out there on eBay)?"
Goldminers edited to state these are my comments below. I did something wrong with editing the quote.
Well for these with too high a mintage for actual demand, the prices will likely drop on eBay as you have stated is the usual case. However, the much lower mintage silver medal, it has held up quite well in PR70 and some sales have actually seen higher prices on eBay the past few days.
Mintage and design matters. If making money was easy, everyone would do it.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
Did anyone really study what failed yesterday?
Doesn't look like it.
The secret was your credit card lookup in step 3. All of you who got an error when checking out when at that stage (including choosing the billing address), failed because you didn't let the system finish the credit card lookup.
AT THAT POINT, had you just waited for the system to finish the lookup, you could have moved on to step 4. If you tried to manually fix things (such as your billing address), rechoose your CC, or manually entered your CC number, your transaction failed. If you backed out and started over, that made it even worse for everyone, stacking multiple transactions and causing page timeouts by re-requesting pages that were already loaded, and putting even more load on the credit card lookup/billing system.
It wasn't the web interface itself that failed yesterday, it was the slow (or overloaded) credit card lookups.
After I realized that at about 12:05, I was checked out at 12:08...
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
Did anyone really study what failed yesterday?
Doesn't look like it.
The secret was your credit card lookup in step 3. All of you who got an error when checking out when at that stage (including choosing the billing address), failed because you didn't let the system finish the credit card lookup.
AT THAT POINT, had you just waited for the system to finish the lookup, you could have moved on to step 4. If you tried to manually fix things (such as your billing address), rechoose your CC, or manually entered your CC number, your transaction failed. If you backed out and started over, that made it even worse for everyone, stacking multiple transactions and causing page timeouts by re-requesting pages that were already loaded, and putting even more load on the credit card lookup/billing system.
It wasn't the web interface itself that failed yesterday, it was the slow (or overloaded) credit card lookups.
After I realized that at about 12:05, I was checked out at 12:08...
Relative to your point about moving on to step 4, I was stuck on step 3 watching the blue spinner go on forever. I figured I either had a problem with my card (billing address) or the system was overwhelmed. I rolled the dice and clicked on step 4. The page reloaded and my cc info was missing, etc. I thought I would have to start over again, but then I got an email seconds after clicking on step 4. It notified me that my order went through. LOL Then the confirmation email came in a minute later. Got lucky on that, I guess.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
Did anyone really study what failed yesterday?
Doesn't look like it.
The secret was your credit card lookup in step 3. All of you who got an error when checking out when at that stage (including choosing the billing address), failed because you didn't let the system finish the credit card lookup.
AT THAT POINT, had you just waited for the system to finish the lookup, you could have moved on to step 4. If you tried to manually fix things (such as your billing address), rechoose your CC, or manually entered your CC number, your transaction failed. If you backed out and started over, that made it even worse for everyone, stacking multiple transactions and causing page timeouts by re-requesting pages that were already loaded, and putting even more load on the credit card lookup/billing system.
It wasn't the web interface itself that failed yesterday, it was the slow (or overloaded) credit card lookups.
After I realized that at about 12:05, I was checked out at 12:08...
Relative to your point about moving on to step 4, I was stuck on step 3 watching the blue spinner go on forever. I figured I either had a problem with my card (billing address) or the system was overwhelmed. I rolled the dice and clicked on step 4. The page reloaded and my cc info was missing, etc. I thought I would have to start over again, but then I got an email seconds after clicking on step 4. It notified me that my order went through. LOL Then the confirmation email came in a minute later. Got lucky on that, I guess.
It almost sounds like they have a pool of actual modems used to dial out to the credit card company. So hundreds of reps funnel down to a few dozen modems. I worked on a system like that maybe 25 years ago.
Comments
Anyone know when the mint will set the price for these coins?
Later today - at $485
Anyone know when the mint will set the price for these coins?
Within a hour or 2. Watching for an update
Seems to me that the Mint should know what the price is, and tell the prospective
customers, with less than 24 hours before the sale period starts!
Maybe, just maybe, the Mint will someday start operating like a real business!
An authorized PCGS dealer, and a contributor to the Red Book.
Back up 13:15 EDT
No pricing yet
Box of 20
$485.
As predicted Link
$485.
I'm guessing there will be an additional $4.95 for shipping.
Worry is the interest you pay on a debt you may not owe.
Check out totally overwhelmed
Several hangs....This page can’t be displayed
Same here
Collector, occasional seller
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
my car art & My Ebay stuff
USM044007xx
I must have been a lucky ones. In and out, order placed and paid.
President, Racine Numismatic Society 2013-2014; Variety Resource Dimes; See 6/8/12 CDN for my article on Winged Liberty Dimes; Ebay
I knew it would happen.
USM044092xx
What a cluster
But the "Got Your Order" email did come in @ 20 minuts after
So that site outage yesterday must have been to load this new web site with the hamburger menu for log in and My Account to log out. Sheesh
No luck here after having it to final review. Booted out several times.
Same here comrade. Seventeen minutes of rejection. Finally got it...
#04408xxx
Finally @ 18 minutes after Noon
USM044092xx
What a cluster
But the "Got Your Order" email did come in @ 20 minuts after
So that's about 10K orders so far... (Got my e-mail confirmation, too.)
I did check my stored card info and it was all correct, so who knows?
Collector, occasional seller
Got mine. 10K between orders.
If we need to get to 100,000 there is still plenty.
yep, drop down for address locks it up.
Got mine. 10K between orders.
If we need to get to 100,000 there is still plenty.
That's where mine locked up as well.
Success! 4420xxx
Roughly 20,000 orders by the time you got through the mess the Mint calls a check out system. The way its going there won't be a sell out today....well maybe. More likely it could take an extra day.
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
4429xxx.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
Lafayette Grading Set
Well, we will need to decide even within the first 4 hours of the deal whether we want to match or beat one seller on ebay who has the presale price set at $600 for 69's and $700 for 70's.
Assume a 50-50 grade through rate (but hope for higher) ...
Assume cost on the raw coins is at least $540 in quantity (I believe I paid at least that much for every coin on these boards thus far)
Assume a cost of about $25 to grade 70's and $10 on 69's in large quantities, shipping back and forth to the grading services, etc. (I know it could even higher, this is conservative)
Assume ebay and paypal fees for 99% of the sellers on eBay (including myself) to be about $58/coin and the free shipping to be around $10 with a signature confirmation
Result -
Cost of 69's to sell on eBay - $610+
Cost of 70's to sell on eBay - $640+
So, one loses $11 on every 69 graded and makes about $59 on every 70 graded. That blends to about a $24/profit per coin assuming everything goes well. So, putting up $540+ to try to make $24 or about a 4% return. And, that assumes no one undercuts the first seller out there (which is likely to happen as early as tomorrow evening! LOL) Welcome to the new world of trying to make any money on newly released "hot" mint product.
And, if anyone got paid, say, $75/coin over cost for their raw coins, that would result in a $1 loss per coin to the submittor right out of the box on every coin!
Did I miss anything? Any figures wrong here?
As always, just my two cents.
Wondercoin
"So, how much value are the coins worth in 69 and 70 holders right out of the box (with the theory that prices usually go down after the first sellers offer coins out there on eBay)?"
Goldminers edited to state these are my comments below. I did something wrong with editing the quote.
Well for these with too high a mintage for actual demand, the prices will likely drop on eBay as you have stated is the usual case. However, the much lower mintage silver medal, it has held up quite well in PR70 and some sales have actually seen higher prices on eBay the past few days.
Mintage and design matters. If making money was easy, everyone would do it.
National Commemorative Medals of the U.S. Mint:
https://www.pcgs.com/setregistry/u-s-coins/medals-tokens/national-commemorative-medals-united-states-mint-1940-present/alltimeset/195526
4429xxx.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
4429xxx.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
Did anyone really study what failed yesterday?
Doesn't look like it.
The secret was your credit card lookup in step 3. All of you who got an error when checking out when at that stage (including choosing the billing address), failed because you didn't let the system finish the credit card lookup.
AT THAT POINT, had you just waited for the system to finish the lookup, you could have moved on to step 4. If you tried to manually fix things (such as your billing address), rechoose your CC, or manually entered your CC number, your transaction failed. If you backed out and started over, that made it even worse for everyone, stacking multiple transactions and causing page timeouts by re-requesting pages that were already loaded, and putting even more load on the credit card lookup/billing system.
It wasn't the web interface itself that failed yesterday, it was the slow (or overloaded) credit card lookups.
After I realized that at about 12:05, I was checked out at 12:08...
4429xxx.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
Did anyone really study what failed yesterday?
Doesn't look like it.
The secret was your credit card lookup in step 3. All of you who got an error when checking out when at that stage (including choosing the billing address), failed because you didn't let the system finish the credit card lookup.
AT THAT POINT, had you just waited for the system to finish the lookup, you could have moved on to step 4. If you tried to manually fix things (such as your billing address), rechoose your CC, or manually entered your CC number, your transaction failed. If you backed out and started over, that made it even worse for everyone, stacking multiple transactions and causing page timeouts by re-requesting pages that were already loaded, and putting even more load on the credit card lookup/billing system.
It wasn't the web interface itself that failed yesterday, it was the slow (or overloaded) credit card lookups.
After I realized that at about 12:05, I was checked out at 12:08...
Relative to your point about moving on to step 4, I was stuck on step 3 watching the blue spinner go on forever. I figured I either had a problem with my card (billing address) or the system was overwhelmed. I rolled the dice and clicked on step 4. The page reloaded and my cc info was missing, etc. I thought I would have to start over again, but then I got an email seconds after clicking on step 4. It notified me that my order went through. LOL Then the confirmation email came in a minute later. Got lucky on that, I guess.
Vietnam Vet 1968-1969
4429xxx.
I couldn't complete the checkout on Chrome. The browser kept blocking step 4. IE/Edge worked fine.
About 29,000 orders. I switched to IE a few orders ago with success but terrible hanging today. They really need to have scaling servers that automatically add capacity under heavy demand. How do you think Amazon handles those special sale days? They have to have several times the volume as the Mint even on the heaviest days....like today.
I like to compare with Ebay.
With all those bids, last second bids, etc....That's a lot of processing.
This was small potatoes, what, 10 maybe 20K orders in the first 5 minutes and it crashes!!!
That's pretty bad in this day and age, i'd expect that 10 years ago, maybe.
The Mint needs to get their money back from who ever upgraded them a few years back.
Did anyone really study what failed yesterday?
Doesn't look like it.
The secret was your credit card lookup in step 3. All of you who got an error when checking out when at that stage (including choosing the billing address), failed because you didn't let the system finish the credit card lookup.
AT THAT POINT, had you just waited for the system to finish the lookup, you could have moved on to step 4. If you tried to manually fix things (such as your billing address), rechoose your CC, or manually entered your CC number, your transaction failed. If you backed out and started over, that made it even worse for everyone, stacking multiple transactions and causing page timeouts by re-requesting pages that were already loaded, and putting even more load on the credit card lookup/billing system.
It wasn't the web interface itself that failed yesterday, it was the slow (or overloaded) credit card lookups.
After I realized that at about 12:05, I was checked out at 12:08...
Relative to your point about moving on to step 4, I was stuck on step 3 watching the blue spinner go on forever. I figured I either had a problem with my card (billing address) or the system was overwhelmed. I rolled the dice and clicked on step 4. The page reloaded and my cc info was missing, etc. I thought I would have to start over again, but then I got an email seconds after clicking on step 4. It notified me that my order went through. LOL Then the confirmation email came in a minute later. Got lucky on that, I guess.
It almost sounds like they have a pool of actual modems used to dial out to the credit card company. So hundreds of reps funnel down to a few dozen modems. I worked on a system like that maybe 25 years ago.
UPS doesn't know about it yet, but if it gets out today, I'll have it Monday or Tuesday...
Why would anyone be paying a premium to buy on eBay when it's available directly from the mint?
Those sellers probably thought the SLQ was going to sell out and bring a premium. IMHO this is going to be a flipper nightmare.
We'll probably see a large number of cancellations in the coming week...
Not all of those were SLQ's, so we're looking at first day sales of less than 59K...