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2018 Fun Show - Zero 2017 Burnished on the Bourse
goldman86
Posts: 496 ✭✭✭
I just got home after walking the 2018 FUN show for 2 days. Overall the Modern market seems quiet. One thing that stuck out to me was the fact that there were hundreds and hundreds of the biggest dealers in the country and not one of them had a 2017 w $50 Burnished gold eagle in their case. I can not remember trying to find a coin that was this new and not being able to even find one at the FUN show.
Did anyone at the show see one of them? Have any to offer 
The Stealth Ninja
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check ebay, steadily climbing in price. Just sold my last four 70s in the 2750 range.
Are they really this stupid, or are they destroying the dollar on purpose?
I got 5 with Original Packaging , any demand for those? I might need to trade off on things I want.
I am in Tokyo at the moment and not at FUN. Otherwise, there might have been a number of them for sale
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Full strike... shoot me an asking price on your (5) raw coins whenever you feel like selling them. I am interested as is the OP I am sure.
Also, I am told nearly no boys Town Mint State Gold at the show either. One dealer had two coins I am told.
Looks like eBay is the place to buy these “modern scarcities”.
Wondercoin.
Wondercoin, I was walking the floor with my checkbook, so I bet we would have reached a deal if you had some coins
I was disappointed that there weren't any as looking for the burnished 2017 coins was the main reason I flew to Tampa.
Come to think of it, there was also very few 2017 Proof Buffaloes. I spoke with one former big buffalo hunter and he hadn't bought a single proof buff in 2017 because of their poor performance in 2016. I understood what he was saying, but I personally think that is going to be a mistake. I spoke with one of the big whigs at Modern Coin Mart (and yes, some of those guys are starting to miss some hair, but aren't we all) and they have roughly 49 coins left. On ebay it looks like they have hundreds of coins because of all those labels they offer, but If I were to make an educated guess, the 2017 Proof Buffalo will run in price once once they sell out. It may take a few more weeks, but that issue will bump up in price I THINK.
Derby, I bet you are going to have fond memories of the 2017 Burnished gold eagle
One of the main reasons you don't see the 2017 Burnished on the bourse is because the majority of dealers don't pay attention to them. Unless it's a huge Mint issue that is making news (i.e. Gold Kennedy, Gold Mercury), many just ignore it. I could walk a coin like that and most dealers would be offering from 5% under spot to a little over spot. It actually surprised me the first time I was at a show and had to explain to multiple dealers that a Burnished coin is not the same as a bullion Eagle. This results in few dealers attaining any inventory as most people don't sell for those prices. You would need to find the few modern specialists to see those coins at a show (and with one like wondercoin not at the show, your chances decrease even more).
U1chicago... to further back up your point...
This past week on the dealer network, a dealer was trying to sell a handful of 2013-W Burnished Gold eagles in 69FS holders at $25 over spot, which is LESS than the price of generic bullion gold eagles in a tube! The coins sat for a couple days unsold at $25 over spot!! I thought about buying them and then asked myself what I would do with them - crack them out of the holder and mix them in with other bullion (non-Burnished) coins worth $28/coin over spot. What would I say when a dealer “called me out” on them and said I mixed these W coins in with the normal bullion and he wants “real bullion” not this “W crap”. Lol.
Wondercoin.
One of the TV coin shows paid attention. They're getting almost $4k for them. Most likely this same seller is the one who scooped up a couple hundred right before the mint sold out. Makes one wonder if they had inside information.
Are they really this stupid, or are they destroying the dollar on purpose?
One man's trash is another man's treasure. BTW -I will happily pay WAY over spot for any 2017 burnished gold eagle or trade them an old dirty Lib or Saint that has very little chance of increasing in value for a shiny bright new one that has a shot of doubling in a year. But then again, what do i know?
I agree with those of you who say these should be worth more than bullion and I do know there are avid collectors of the burnished coins. Unfortunately not enough people appreciate them and that is how we end up with these low mintages.
I personally am a fan of the 2006-2008 Burnished Platinum coins (those do have the advantage of having a different design than the bullion versions by having the same design as the proof).
Goldman86... a serious discussion here....
Why, in your opinion, is a 2013-W Burnished Gold Eagle with a sub- 7,300 mintage worth roughly the same as a 1999 bullion eagle with a mintage of over 1,500,000?
We all know you will pay strong money for the 5,800 mintage 2017-W Coin. But, why is the 2013-W Burnished Gold with a scant 7,293 mintage not worth much more (if any more) today than a bullion gold eagle with a 1,500,000 Mintage? Or anyone else?
I am stuck at an airport for 3+ hours before my next flight and am looking for something to pass the time. Anyone know the answer to my serious question?
Wondercoin.
Goldman 86. All you had to do was ask the right dealers. I would have been glad to point you in the direction of several dealers who have them available.
@wondercoin I think the burnished coins in general aren’t popular due to a combination of not looking that different than a bullion coin (outside of the W mintmark) and not being promoted aggressively. It’s not a proof, so that collector segment does not feel a need to chase them and it’s usually priced above bullion so the stackers aren’t interested either. The low mintage collectors like them, but for that to remain true the mintages have to remain low.
Remember the fuss over the gold Kennedys?
Great transactions with oih82w8, JasonGaming, Moose1913.
I did not realize the burnished gold 2017 was attracting so much attention... Chasing low mintage coins can be expensive...at least for a few years... then the market drops a bit and levels off...at least that has been the general trend. Cheers, RickO
unlike gold coms lowest mintage AGE holds its value. . . until one comes in lower. Large collector base for the AGEs. Fortunately for the flippers most collectors by them in the aftermarket already graded.
Are they really this stupid, or are they destroying the dollar on purpose?
Everyone loves the winner. 2nd place is nowhere near as cool. UCLA won 11 championships (i think) under John Wooden, who came in second place all those years? I remember vividly, Eric Jordan talking about the value of the key coin compared to the value of the 2nd key coin. The difference is large. Why is it that way? Much easier story for TV and phone sales would be a major reason in my estimation. Collector's Mentality? I don't know why for sure?
John, who are the dealers that had the 2017w $50 Burnished gold eagles at the FUN show. I have been to the fun show 11 of the last 12 years (missed one when my daughter was born mid January 2011 and I wasn't leaving my 9 month pregnant wife at home alone to go to a coin show - I want to live- LOL). I know all the usual suspects. Minshull had none. I talked to Richard Lecce (via phone), South Austin, Heritage, Great Collections, Namchong, Quan, Apmex, Dillon Gage, Northern Nevada Coin, Pinehurst, Modern Coin Mart, Asset, and many many more dealers. I didn't see a single 2017 $50 burnished gold eagle ! Did I talk to every single dealer- NO. But I hit a vast majority of major modern coin dealers that would normally carry them.