Why is everyone mad a the mint over Eagle sets

Georgems65 · September 20, 2006 12:38PM

Why is everyone mad a the mint over Eagle sets?

lasvegasteddy · September 20, 2006 12:40PM

i guess everyone isn't mad as i'm content with the 2 silver sets i ordered

GAT · September 20, 2006 12:48PM

This thread will keep you busy for a while and you will soon find out why everyone's mad.
Mint

There are lots of other threads, just search for, mint.

19Lyds · September 20, 2006 2:58PM

Primarily because the mint released the ASE Silver Anniversary Set first with a play up on the fact that the uncirculated coin would bear the W mint mark. This is a first for an uncirculated coin as far as I know. Additionally the 2 coin set made the same claim with a 20,000 set limit. Now everybody (including me) starts thinking instant rarity along the lines of the W mint marked 1995 Proof coin. Limited to 32,125 coins available only in the 1995 Anniversary Set and now worth 4 grand+. So the numbers start to add up, everybody suffers through the web delays and gets their orders in.

Day before yesterday the mint announces that they will be selling the gold and silver uncirculated coins individually for as many people that want them. In a nutshell, unlimited quantities!

This means that for the $100 Anniversary set, the only coin that may have future possibilities is the Reverse Proof limited to 250,000 coins. Unless of course, the mint decides to sell this puppy as a single too.

So, add the prices. $100 for the set

or

$27.95 for a single Silver Proof (Which we already have)
plus
$19.95 for a W mint mark Uncirculated Silver Eagle.
That leaves $52.10 for the Reverse Proof plus packaging.

So what was assumed to be a good set to purchase now is only good for 1 coin out of 3.

Add that to the re-release of all those 2005 Nickels and you end up with a bunch of PO'ed collectors!

Bryan1315 · September 20, 2006 4:05PM

another thing if I read it correctly you will be able to purchase them individually on Sept. 28th which if they start to ship them out at around that same time, you will get the individual ones you ordered before you get the set that you have preordered even though they will be going on sale at a later date than the anniversary sets did

michael · September 20, 2006 4:06PM

get over it...................................................................

and get a life

and/or take your meds on time

zzzz · September 20, 2006 6:15PM

what do you expect from Modern Crap

millennium · September 20, 2006 8:10PM

<< what do you expect from Modern Crap >>

LOL

seemyauction · September 20, 2006 8:25PM

<< Why is everyone mad a the mint over Eagle sets? >>

I can only speak for myself, but buying unc and proof coins and sets from the Mint is much like buying a new car, its not worth what you pay for it. The car or coins may take several years to recover their value.

In this case the Mint knowing this fact used a sales pitch that made you believe they would hold there value right from the start, a limited production. Limited supply = high demand = high value.

Now they are changing their story, saying they will sell one to every one that orders one, your supply just went through the roof. Unlimited supply = low demand = low value.

zeus135 · September 20, 2006 8:39PM

I'm not mad, it's pretty simple:

If you think the Mint is offering a good deal, for a product you want, you buy it.

If you think it's NOT a good deal, you don't buy it.

BAJJERFAN · September 20, 2006 9:30PM

So is there a possibility that if one does buy the 2 piece gold silver set that it might might end up being worth more in the mint packaging than if one bought each coin separately? especially if the mint does not sell the full quota of 20,000 sets? Of course 90% of those who buy mint products may not be aware of this fiasco. I have one 2 piece set on order which I have not yet cancelled and am wondering if letting the order go through may not be so bad afterall.

rb7557 · September 20, 2006 11:23PM

For all the negative comments on the anniversary sets (mine included), sales still seem to be moving along. In the 9/19/06 issue of NN there is a bit of mint sales info. According to figures received from the us mint 103,205 of the silver sets have been ordered, and 14,783 of the gold and silver sets. This is as of 9/4/06 if I'm reading the article right. Who knows, maybe a sellout is not far away for the 2 coin set.

ziggy29 · September 20, 2006 11:28PM

The Mint isn't stupid. It places very strong limits on mintages once in a while to produce "instant winners" that can quickly sell for 5-10x issue price...and that "hope" is enough to get some people to buy all of their junk in anticipation of the quick five-bagger that rarely comes.

dlimb2 · September 20, 2006 11:31PM

The Silver Eagles will sell well...because of the Silver Eagle Following....everyone has to have one for their set....but only 250K of the Reverse will be avaliable...so if you ordered 10, hold on to them...and watch the price rise!

Barndog · September 20, 2006 11:36PM

not everyone is mad. I'm not mad. I didn't order any gold or silver eagle sets.

mhammerman · September 20, 2006 11:42PM

Yeah, I'm kinda bummed too.

fishcooker · September 21, 2006 12:12AM

I'm not mad. I will go fishing instead of spending money on the mint's product.

19Lyds · September 21, 2006 12:26AM

I am not mad either but it must be made CLEAR that for the two piece gold and silver set the only thing that has a production limit is the packaging.

That, my friends, is what has some collectors in a tiff!

HonoluluDude · September 21, 2006 2:01AM

SAE 3-piece anniversary sets: 129,888 have been sold as of 9/11.

I cancelled my order yesterday, so make that 129,884.

pf70collector · September 21, 2006 2:14AM

People are generally upset with the mint because the way they handled the introduction of these sets. They duped the public thinking they would be low mintage versions and later announcing two weeks later that they wern't. There was no reason they couldn't make the announcements all at the same time. Just a marketing ploy that may well backfire on them. Most, who are not on these boards, probably don't even know about the second annoucement especially those that rely on the direct marketing mailings of the annivesary sets from the mint which I guarantee does not mention anything about these coins being offered as individual items. Hmm, deceit from the Federal Government, don't surprise me at all.

JrGMan2004 · September 21, 2006 2:17AM

<< Primarily because the mint released the ASE Silver Anniversary Set first with a play up on the fact that the uncirculated coin would bear the W mint mark. This is a first for an uncirculated coin as far as I know. Additionally the 2 coin set made the same claim with a 20,000 set limit. Now everybody (including me) starts thinking instant rarity along the lines of the W mint marked 1995 Proof coin. Limited to 32,125 coins available only in the 1995 Anniversary Set and now worth 4 grand+. >>

I think the key problem here is that people start ASSUMING what the Mint is going to do. When you 'assume' you make an 'ass' out of 'u' and 'me'... The Mint has made no false claims... they said the sets would be limited to 20,000. Have they broken that claim? Have they sold more than 20,000 sets? I don't think so... quit making assumptions, and complaining about what you see as a profit loss, and suck it up. Quit your bellyaching. This complaining and whining over this alleged 'fraud' is getting old and frankly, quite annoying.

dthigpen · September 21, 2006 2:18AM

Come on. If you assume the mint is going to do anything other than everything they can to make a profit, you're a sucker and deserve what you get.

Bear · September 21, 2006 2:22AM

It is no use parsing words as to what "is" is. The Mint purposely

misled the public, by withholding important information as to the

continued production of both coins in the two coin set as singles.

This further impacted the value of the three coin silver sets as well

as the gold sets. It appears that this misleading withholding of information

was and is an attempt to goose sales of Mint products by means that are less

then honorable.

RichieURich · September 21, 2006 2:25AM

I agree with the wise old Bear.

19Lyds · September 21, 2006 3:21AM

<< I think the key problem here is that people start ASSUMING what the Mint is going to do. When you 'assume' you make an 'ass' out of 'u' and 'me'... The Mint has made no false claims... they said the sets would be limited to 20,000. Have they broken that claim? Have they sold more than 20,000 sets? I don't think so... quit making assumptions, and complaining about what you see as a profit loss, and suck it up. Quit your bellyaching. This complaining and whining over this alleged 'fraud' is getting old and frankly, quite annoying. >>

It is very difficult to read these posts without taking a reply personally.

The question was asked and I answered in the simplest way I knew how. So take note: I have not whined, complained, nor bellyached about this. I have not accused the mint of fraud and will not. I still have my 3 sets on order and will more than likely order the single unirculated SAE. I may even jump in and get the 2 coin set.

Why? Because one thing I've learned about the US Mint is that you never really know whats happening or going to happen until after the fact when the annual reports get published and this is where rarities come from.
My personal feelings are that the more people cancel their orders, the better the chance of coming up with something special. Even if it is some silly package.

I wish I had ordered more 1999 silver proof sets. (Buy at $34.95 sell at $350)
I wish had of ordered more 2001 proof sets. (Buy at $22.95 sell at $120)
I wish I had ordered 2001 Sacajawea Rolls (Buy at $35.50 sell at $75 to $100)
I wish I had ordered more Peace Medal Nickel two roll sets. (Buy at $8.95 sell at $90)
I wish I had ordered the 2003 Jefferson Nickel two roll sets. (Buy at $8.95 sell at $100)
And on and on and on.

Well, instead of wishing, I'm just going to buy the stuff as its released and then wait to see how it turns out.

Coinhog · September 21, 2006 4:14AM

<< It is no use parsing words as to what "is" is. The Mint purposely

misled the public, by withholding important information as to the

continued production of both coins in the two coin set as singles.

This further impacted the value of the three coin silver sets as well

as the gold sets. It appears that this misleading withholding of information

was and is an attempt to goose sales of Mint products by means that are less

then honorable. >>

I think this will drive up the value of the reverse proof silver and gold!! They now do not have to share thier KEY date status with the uncirculated W coins.

Bear · September 21, 2006 4:15AM

From your lips to God's ear.

Why is everyone mad a the mint over Eagle sets

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