Still looking for the sweet spot, I see- where the dealers and flippers get shut out, all the collectors who want one can get one and still be assured they won't lose money when they decide to sell.
@MasonG said:
Still looking for the sweet spot, I see- where the dealers and flippers get shut out, all the collectors who want one can get one and still be assured they won't lose money when they decide to sell.
But....but.....you don't understand! The flippers and dealers are the heroes of society and saviors of coin collecting! We should all salute them, bow down, and kiss their left arse cheeks. They benefit us all by clogging up the Mint's web site and each buying hundreds or thousands of the coins we are unable to get our hands on. It's all for our benefit! The thousands they are making in profit by gobbling up every Mint release they can is simply not enough considering the value they bring to society and life in general.
"The seller needed money and when they discovered that their proof sets had plummeted in value, they are likely never going to be involved in the hobby again"
the hobby isn't for everyone, nor is it a requirement that people participate in it. In this case they would be better off not trying again. Lesson learned.
@MasonG said:
Still looking for the sweet spot, I see- where the dealers and flippers get shut out, all the collectors who want one can get one and still be assured they won't lose money when they decide to sell.
But....but.....you don't understand! The flippers and dealers are the heroes of society and saviors of coin collecting! We should all salute them, bow down, and kiss their left arse cheeks. They benefit us all by clogging up the Mint's web site and each buying hundreds or thousands of the coins we are unable to get our hands on. It's all for our benefit! The thousands they are making in profit by gobbling up every Mint release they can is simply not enough considering the value they bring to society and life in general.
Most flippers don't make thousands. And some of the market makers work hard to make money on things like proof and mint sets.
But I'm willing to eliminate them. Let's have an auction. Or raise the price to $200. The flippers will move on.
Oh, I see! So let's paint the scene of a flipper who buys, oh say, 300 coins (let's say ASEs). You trying to tell me that flipper will not sell the coins for a mere $10 per coin over cost ($3,000 profit)? I guarantee you that the coins will sell for more than $10 over list. To me, that equals thousands in profit. Unless, of course, that flipper is truly noble and magnanimous and donates the coins to those collectors he helped shut out from buying the coin from the Mint.
A bulk submitter pays under $10 to get a coin slabbed while an individual collector pays $40+.
I’m a pcgs authorized dealer and I’ve never paid less than $10 for a graded coin. I think the most I have sent in was 300 coins at one time. Perhaps the price goes down for more than 1,000.
Edited to add that it will be very hard to get enough coins to make a bulk submission on the Morgan’s
rule #1 of investing, and especially collecting - don't spend money you can't afford to lose. Nothing is guaranteed to gain or retain the same value as when purchased.
I think the point was missed - root out the flippers - this from the collector(s). And this by letting market forces work: there will be a burn of increased mintages and then they would fall, very likely as they did in the late '90s. Loyal collectors then get their reward [to some extent].
Love that Milled British (1830-1960) Well, just Love coins, period.
@7Jaguars said:
I think the point was missed - root out the flippers - this from the collector(s). And this by letting market forces work: there will be a burn of increased mintages and then they would fall, very likely as they did in the late '90s. Loyal collectors then get their reward [to some extent].
"Their reward" being falling values for the issues with increased mintages that they buy. The flippers, of course, won't be buying these but not to worry- they'll come back when mintages fall.
Missed my point as well, the market would need an adjustment period and collectors would then come back into lay in determining mintages; there would be some low. mintages ala JR $% and Kennedy mattes, etc.
Love that Milled British (1830-1960) Well, just Love coins, period.
@WQuarterFreddie said:
My goodness! Why don't you all get a room and talk about flippers. This thread has gotten way off track!🙄🤣😂
We have a room. This is it.
More precisely - Get A Thread! This one is titled Official Morgan and Peace silver dollar thread. Maybe an "I'm I flipper - so I'm a hero saving collecting vs. I hate flippers - they're evil." thread.
I was just digging around in boxes of my collection and found a lot of stuff that I clearly bought to flip (2010 5oz pucks anyone?) that was a mistake, from a "make money" perspective.
When the privy pair went on sale, a buddy of mine got locked out (as some people here did) or clogged because he's in San Jose. It was merely "tough" for me. I ordered him two of each (and two for me)
@jessewvu said:
So, are they going to sell any of the remaining Morgan’s, cc/o?
I have no inside knowledge on the answer to this, but, I would guess "yes".
1) The mint procured 1,075,000 of these unique planchets (0.858 troy oz. of .999 fine silver in essentially the same dimensions as the originals) - they either strike them, or melt them. (or save them if the continuation of these types of offerings into 2022 is not conjecture).
2) The product limit is set for each offering - it is unlikely that eg, 1000 unstruck planchets will be transferred from privy mark issues to the other yet to be offered issues.
3) The privy mark issues are still labeled "remind me", not "sold out".
4) The mint has until October (and perhaps beyond) to sort out unsold / returned items. They will likely make them available later (eg, between August and October)
again, my guess.
Steve Palladino - Ike Group member - DIVa (Designated Ike Varieties) Project co-lead and attributor
The us mint allows you to get items in your cart fairly quickly. How about they send emails to those with coins in their cart to fulfill their orders before making them available on their site? Seems that would solve a ton of problems…. Perhaps only release 50% of the coins at release and let the rest go to those that get them in their carts…
@jessewvu said:
Did I find the solution to orders???
If there are more people who want coins than there are coins to go around, it doesn't matter how you rearrange those deck chairs- some people will get left out. And they'll be unhappy because the ordering process isn't fair.
Comments
But they have the connection and a massive amount of power. Money does not appear on the list with connections and power
🎶 shout shout, let it all out 🎶
They have power and connections
🎶 shout shout, let it all out 🎶
I completely disagree. The Mint didn't go with a HHL of 1 because it would turn a $150.00 coin ( $85.00 cost) into a $50.00 coin.
HHL of 1 with a mintage of 175,000 would be a disaster in the Long Term...
Still looking for the sweet spot, I see- where the dealers and flippers get shut out, all the collectors who want one can get one and still be assured they won't lose money when they decide to sell.
But....but.....you don't understand! The flippers and dealers are the heroes of society and saviors of coin collecting! We should all salute them, bow down, and kiss their left arse cheeks. They benefit us all by clogging up the Mint's web site and each buying hundreds or thousands of the coins we are unable to get our hands on. It's all for our benefit! The thousands they are making in profit by gobbling up every Mint release they can is simply not enough considering the value they bring to society and life in general.
231 auctions
9 "new listing"
26 ending in under 9 days
Whatever it takes to make sure I get the coin and not someone else.
"The seller needed money and when they discovered that their proof sets had plummeted in value, they are likely never going to be involved in the hobby again"
the hobby isn't for everyone, nor is it a requirement that people participate in it. In this case they would be better off not trying again. Lesson learned.
What a surprise...
Oh, I see! So let's paint the scene of a flipper who buys, oh say, 300 coins (let's say ASEs). You trying to tell me that flipper will not sell the coins for a mere $10 per coin over cost ($3,000 profit)? I guarantee you that the coins will sell for more than $10 over list. To me, that equals thousands in profit. Unless, of course, that flipper is truly noble and magnanimous and donates the coins to those collectors he helped shut out from buying the coin from the Mint.
I’m a pcgs authorized dealer and I’ve never paid less than $10 for a graded coin. I think the most I have sent in was 300 coins at one time. Perhaps the price goes down for more than 1,000.
Edited to add that it will be very hard to get enough coins to make a bulk submission on the Morgan’s
I understand a lot of collectors do the same. But I'm sure that's different.
rule #1 of investing, and especially collecting - don't spend money you can't afford to lose. Nothing is guaranteed to gain or retain the same value as when purchased.
Thoes who have the GOLD, and the SILVER, make the rules
I think the point was missed - root out the flippers - this from the collector(s). And this by letting market forces work: there will be a burn of increased mintages and then they would fall, very likely as they did in the late '90s. Loyal collectors then get their reward [to some extent].
Well, just Love coins, period.
"Their reward" being falling values for the issues with increased mintages that they buy. The flippers, of course, won't be buying these but not to worry- they'll come back when mintages fall.
Missed my point as well, the market would need an adjustment period and collectors would then come back into lay in determining mintages; there would be some low. mintages ala JR $% and Kennedy mattes, etc.
Well, just Love coins, period.
My goodness! Why don't you all get a room and talk about flippers. This thread has gotten way off track!🙄🤣😂
Nonsense. The ASE v75 is a resounding success at 75000.
There will be no "disasters" on this coin program. The demand is insatiable right now. I would be surprised if they keep the HHL at 3. Should be 1.
The is a big difference between 175,000 and 75,000…
More precisely - Get A Thread! This one is titled Official Morgan and Peace silver dollar thread. Maybe an "I'm I flipper - so I'm a hero saving collecting vs. I hate flippers - they're evil." thread.
Nothing to see here, folks. Move along.
🎶 shout shout, let it all out 🎶
That depends. Are they the traditional slow walking zombies or the new fast walking ones?
Fish zombies - ones that can't resist bait -
I was just digging around in boxes of my collection and found a lot of stuff that I clearly bought to flip (2010 5oz pucks anyone?) that was a mistake, from a "make money" perspective.
When the privy pair went on sale, a buddy of mine got locked out (as some people here did) or clogged because he's in San Jose. It was merely "tough" for me. I ordered him two of each (and two for me)
I skipped the last 8 pages. I need a summary. Can somebody Cliff note? ...and how many of the posts belong to jmlanzaf?
Since I am a long time Mint Customer,,,,,,,, 40+ years I believe orders should be on a seniority system.
Since I am a long time Mint Non-Customer.......50 years I believe they ought to just shut down. I have no use for coins made after 1899.
I have no inside knowledge on the answer to this, but, I would guess "yes".
1) The mint procured 1,075,000 of these unique planchets (0.858 troy oz. of .999 fine silver in essentially the same dimensions as the originals) - they either strike them, or melt them. (or save them if the continuation of these types of offerings into 2022 is not conjecture).
2) The product limit is set for each offering - it is unlikely that eg, 1000 unstruck planchets will be transferred from privy mark issues to the other yet to be offered issues.
3) The privy mark issues are still labeled "remind me", not "sold out".
4) The mint has until October (and perhaps beyond) to sort out unsold / returned items. They will likely make them available later (eg, between August and October)
- Ike Group member
- DIVa (Designated Ike Varieties) Project co-lead and attributor
Did I find the solution to orders???
The us mint allows you to get items in your cart fairly quickly. How about they send emails to those with coins in their cart to fulfill their orders before making them available on their site? Seems that would solve a ton of problems…. Perhaps only release 50% of the coins at release and let the rest go to those that get them in their carts…
If there are more people who want coins than there are coins to go around, it doesn't matter how you rearrange those deck chairs- some people will get left out. And they'll be unhappy because the ordering process isn't fair.
All I know is that I'm willing to straight up trade 2 of my privy marks (1 CC and 1 O), for 1 each of the next 2 coins.
Straight up trade...once I have them in hand.