Washington Dollars...Flip City

OneCent · February 10, 2007 1:45PM

People aren't going to pay over face value for these, right?

Please tell me I'm right. I mean this is MADNESS, total insanity run amuck. There is nothing rare or unique about these...BANKS will sell you rolls at face value. Mintage will be in the hundreds of millions.

If these sell for one penny over face on E-Bay, the crash will soon be here.

renman95 · February 10, 2007 1:49PM

Take a look at ebay and you'll see these are going for many times over face.

BobaFett72 · February 10, 2007 1:51PM

plenty of stupid people on ebay apprently lol

Gemineye · February 10, 2007 1:52PM

I'm afraid to look......

marxbuff · February 10, 2007 2:00PM

One roll = $46.00

Gemineye · February 10, 2007 2:07PM

<< One roll = $46.00

>>

and that's for.... $25.00 Bank Wrapped Rolls,.......unbelievable......!!!!!!

OneCent · February 10, 2007 2:12PM

WTF don't I understand here? Why would someone pay $46 for something that they could buy for $25?

Are these invalid coin collectors that can't get out of the house.,.,.Coin Fault junkies, by the boat load?

Maybe I'm the stupid one,,,for not putting down a grand for rolls and doubling my money!

TwoSides2aCoin · February 10, 2007 2:12PM

Stupidity

or lease !

Georgems65 · February 10, 2007 2:14PM

ummmmm guys thats my ebay site. i sold that lol. funny stuff

marxbuff · February 10, 2007 2:18PM

<< ummmmm guys thats my ebay site. i sold that lol. funny stuff >>

RegistryCoin · February 10, 2007 2:19PM

Good for you Georgems65. Everyone who says that the buyers are idiots go to the store every day and buy things that could be purchased for less, but maybe just not as conveniently.

basestealer · February 10, 2007 2:22PM

I saw that role and almost crapped my pants. I got on the horn and called B of A, wells fargo, and chase--all branches within 5 miles of my home. None of them are carrying the golden dollars and two ladies didn't even know what I was talking about and had never heard of them. Next week I'm on a mission to find them and I'm going to dump every single one on eBay. I hope there's enough stupid buyers to go around. Daddy needs trip to Vegas.

TwoSides2aCoin · February 10, 2007 2:26PM

<< I saw that role and almost crapped my pants. I got on the horn and called B of A, wells fargo, and chase--all branches within 5 miles of my home. None of them are carrying the golden dollars and two ladies didn't even know what I was talking about and had never heard of them. Next week I'm on a mission to find them and I'm going to dump every single one on eBay. I hope there's enough stupid buyers to go around. Daddy needs trip to Vegas. >>

Don't worry, you got about 300 million more chances to find some people looking for a deal

.

lilbear8 · February 10, 2007 2:31PM

Who are these people that would buy $25.00 worth of coins for $46.00? I have some waterfront property in the everglades for sale if they are interested.

aficionado · February 10, 2007 2:42PM

<< I saw that role and almost crapped my pants. I got on the horn and called B of A, wells fargo, and chase--all branches within 5 miles of my home. None of them are carrying the golden dollars and two ladies didn't even know what I was talking about and had never heard of them. Next week I'm on a mission to find them and I'm going to dump every single one on eBay. I hope there's enough stupid buyers to go around. Daddy needs trip to Vegas. >>

Yep, me too.

It's a no lose situation. even if you by $1000 worth. It's still worth $1000.

basestealer · February 10, 2007 2:43PM

I assume, without any undo hype on my part, that anyone willingly spending $50 for $25 in coin is happy with their purchase, even though they shouldn't be. Who are we to tell them they shouldn't be happy, lol? I've spent $6 on a pack of smokes before because it was convenient for me, when I could have gotten them for $3 a pack. I've paid extra for things for various reasons. I was happy. I hope these crazy people are happy, too. Now, I can see paying a little more on ebay for them if their bank doesn't carry them--but clearly they are unaware that the mint will sell them rolls for $35 or less. Obviously the people on SAH spending $99 a roll are even more "unaware", for lack of a better term. God bless them. Who'd have ever thought that money meant for circulation would cost more than face? Face implies the amount printed on the currency! AHAHAHA!

OneCent · February 10, 2007 2:45PM

Georgems65 · February 10, 2007 3:01PM

you guys are just jealous that you didn't do it before me. lol

19Lyds · February 10, 2007 3:57PM

Since these are not really scheduled for release just yet (February 15th), people seem to be willing to pay over face for them just to have them now.

I saw the rolls on Ebay and was wondering how they got these so quickly? Must have a close friendship with someone at the local bank.

BECOKA · February 10, 2007 3:59PM

I just ordered $500 worth from my bank. 3 weeks ago my bank rep at B of A had never heard of these and said they would not be getting any. Last week she calls me up and says she got a memo that they would be available on the 16th so she called the vault (whatever that means) and made my order.

Yep, $1 each

TwoSides2aCoin · February 10, 2007 4:07PM

<< you guys are just jealous that you didn't do it before me. lol >>

... that was a good one. I actually must commend you for gettin' after it, right away.
It's capitalism at it's finest. Believe me when I say I am not jealous of you , rather humored by your customers.

Joe

Akbeez · February 10, 2007 4:11PM

<< ummmmm guys thats my ebay site. i sold that lol. funny stuff >>

So GeorgeMs65, just HOW did you get these before you shoulda??? Curious minds want to know...

BobaFett72 · February 10, 2007 4:25PM

who needs platinum when you can sell "golden" georgies!
im gonna empty my money market account and flipd 50,000 of em on ebay lol.

Russellhome · February 10, 2007 4:35PM

<< WTF don't I understand here? Why would someone pay $46 for something that they could buy for $25? >>

FIRST STRIKES! The sales pitch that sells.

lonelyp · February 10, 2007 8:20PM

You can get them GRADED BU from coin vault too. Think it was $182.95 for 10 of each, P + D.

So how did they get them early enough to have had them graded allready?

CoinGuy42 · February 10, 2007 9:16PM

The fact that people will pay 46.00 for a 25.00 roll of dollars is not surprising at all to most of us.

I suspect that buying US Mint wrapped rolls of GW dollars will also be profitable. Remember the sales of SQ US Mint wrapped rolls? Most states (especially the early ones) have at least a 10% ROI (and more) on ebay. Additionally, we all remember seeing Sac rolls selling for high levels above the US Mint price. For some reason, there are many collectors of US Mint wrapped rolls. I am sure there are many people who will be ordering rolls by the hundreds with the same intention. Once the program has been around for a year or so, and as new collectors appear, I suspect the US Mint wrapped GW rolls will provide a nice ROI.

So, in reply to One Cent's question....IMO, yes, people are going to pay well over face value for these.

Georgems65 · February 10, 2007 9:32PM

well if you read my auction, its a presale. i don,t have them in hand and nothing in my auction states that i do.

ziggy29 · February 10, 2007 10:43PM

These are the people I want to go up to andd ask if they have two tens for a five.

ddink · February 10, 2007 11:38PM

It amazes me that this stuff happens every day on Wallstreet, but when it happens in the coin market, people are astonished. It's called arbitrage: taking advantage of inefficiencies (and lack of knowledge) in the marketplace by buying something on one market and simultaneously selling it for a higher price on another market. If it happens all the time on Wallstreet, why should we be so surprised to see it happening in our industry?

WinPitcher · February 10, 2007 11:54PM

And that auction was a presale.

Steve

Kip · February 11, 2007 12:38AM

At least we know who screws people

7over8 · February 11, 2007 11:01AM

surprised the Treasury Department isnt concerned about coins in hand this weekend in advance of official release of Feb 15. EBAY listings show in hand coins on some auctions......these sellers are absolutely insane to do that......

last time that happened, as mentioned on another thread, some people apparently got friendly visits/calls from gov't agents.

WinPitcher · February 11, 2007 11:07AM

My wife manages a branch of JP Morgan Chase. Today i asked her if she is getting any. She replied that she thinks she already got them on Friday. I will know more tomorrow. I assume, but am not sure that she will be directed to release them on the 15th.

Steve

BobaFett72 · February 11, 2007 11:11AM

Im sure they get them in prior to the release date. Just like the movies and DVD's that come out on Tuesdays, they are already in the stores ready to go the previous weekends.

TwoSides2aCoin · February 11, 2007 11:54AM

who's famous quote was :

"I'll gladly pay you Tuesday for a hamburger today ?"

jmski52 · February 11, 2007 12:09PM

These must be them gold dollars I heared about.

AlteredTone · February 11, 2007 12:17PM

<< who's famous quote was :

"I'll gladly pay you Tuesday for a hamburger today ?" >>

Wimpy, pal of Popeye the Sailer Man!

Georgems65 · February 11, 2007 1:02PM

"At least we know who screws people "

i dont screw people out of anything . They pay what they are willing to pay for a product. Thats not my fault.

SpikeInPhilly · February 11, 2007 3:41PM

<< Since these are not really scheduled for release just yet (February 15th), people seem to be willing to pay over face for them just to have them now.

I saw the rolls on Ebay and was wondering how they got these so quickly? Must have a close friendship with someone at the local bank. >>

If they weren't supposed to be released until Feb. 15, someone forgot to tell my bank teller. I asked for them on Saturday and she gladly provided the rolls. She commented that she didn't think that anyone knew about the Pres dollars.

coinnut86 · February 11, 2007 3:53PM

<< 

<< Since these are not really scheduled for release just yet (February 15th), people seem to be willing to pay over face for them just to have them now.

I saw the rolls on Ebay and was wondering how they got these so quickly? Must have a close friendship with someone at the local bank. >>

If they weren't supposed to be released until Feb. 15, someone forgot to tell my bank teller. I asked for them on Saturday and she gladly provided the rolls. She commented that she didn't think that anyone knew about the Pres dollars. >>

garsmith · February 11, 2007 3:58PM

<<WTF don't I understand here? Why would someone pay $46 for something that they could buy for $25?>>

It's called bidiocy; also know as a bidiot and his money are soon parted! Their brains left a long time ago!!

garsmith · February 11, 2007 4:03PM

<<At least we know who screws people>>

It isn't the seller screwing people it's the bidders screwing themselves! KIP what you need to realize before saying the seller is screwing smoeone is he didn't force or ever encourge this bidiots to spend mad money on smothing they can get for face value if they had a brain!

RegistryCoin · February 11, 2007 4:24PM

<< KIP what you need to realize before saying the seller is screwing smoeone is he didn't force or ever encourge this bidiots to spend mad money on smothing they can get for face value if they had a brain! >>

Yes, Kip needs to realize this before saying anything about the seller, and much, much more, I'm afraid.

basestealer · February 11, 2007 4:50PM

<< "At least we know who screws people "

i dont screw people out of anything . They pay what they are willing to pay for a product. Thats not my fault. >>

That's right, and you didn't start the auction at $46--the bidders pumped that sucker up all on their own! But even if you did start these at double face, or even 100x face, that doesn't make you a scammer. You have a product and you have a price--that's called "bidness!" --whether or not you get customers is in the hands of the consumers themselves. But it's funny in a way, that some would judge anyone making a profit to be a "scammer", almost as if it is a requirement to always sell product at cost (that's not good business), or when you do charge more, you must write several paragraphs trashing the very product you are selling like "These dollars are worthless. I got them at my bank for face and you can too. The mint is making 1.2 billion of these this year alone. These aren't ever going to be worth the metal they're stamped on. Bid early and bid often folks!"

Even Shop at Home isn't criminal, except when they tell dirty lies. They tell dirty lies often. Otherwise, if they were just price gouging, that would be fine with me. They go over the line with tall tales.

RegistryCoin · February 11, 2007 5:29PM

Bus. Admin. 101: "Timeliness is next to Godliness".
BTW, There is at least one business out there that buys a few cents worth of plastic formed in certain rectangles that act as coin holders, then sells it for more than just a few bucks, with certain value added of course, which is quite a bit more percentage profit than made by Georgems65, and buyers and bidders are happily paying much more than its base value.

BECOKA · February 12, 2007 2:06AM

With all of this talk of bidders being the crazy folk and not the sellers that kinda makes me think you would say that CoinVault is not scamming because people are paying what they are asking.

ziggy29 · February 12, 2007 2:12AM

<< At least we know who screws people >>

Yeah. The bidiots are screwing themselves.

If I start an auction at one cent, for example, on an item you can still buy for $25...is it my fault that someone wants to pay significantly over $25 for it (assuming I didn't overhype or misrepresent the offering)? No, it's the buyer's fault (to the extent it's anyone's "fault") for not knowing they could buy the coins straight from the source for less.

I do know that there are people who hold auctions like these who rely on the ignorance of the public (i.e. they don't know they can still buy these things for much less direct from the source) to make their money, but ultimately they aren't the ones doing the screwing. The buyers are screwing themselves.

BECOKA · February 12, 2007 2:24AM

<< 

<< At least we know who screws people >>

Yeah. The bidiots are screwing themselves.

If I start an auction at one cent, for example, on an item you can still buy for $25...is it my fault that someone wants to pay significantly over $25 for it (assuming I didn't overhype or misrepresent the offering)? No, it's the buyer's fault (to the extent it's anyone's "fault") for not knowing they could buy the coins straight from the source for less.

I do know that there are people who hold auctions like these who rely on the ignorance of the public (i.e. they don't know they can still buy these things for much less direct from the source) to make their money, but ultimately they aren't the ones doing the screwing. The buyers are screwing themselves. >>

I agree, you would think that through life one would learn to research a product before purchasing.

asin · February 12, 2007 3:04AM

<< Who are these people that would buy $25.00 worth of coins for $46.00? I have some waterfront property in the everglades for sale if they are interested.

>>

I got oceanfront property in arizona.

kwmorgan · February 12, 2007 3:49AM

I can confirm that some banks already have them. A relative works for a bank and they are sitting in their vault, ready for release on Feb 15th. They are under strict orders not to release to anyone until that date. Hopefully they are "D" and not "P". Denver coins are usually better strikes.

tyler267 · February 12, 2007 4:40AM

<< I can confirm that some banks already have them. A relative works for a bank and they are sitting in their vault, ready for release on Feb 15th. They are under strict orders not to release to anyone until that date. Hopefully they are "D" and not "P". Denver coins are usually better strikes. >>

My bank has them also, They set my order aside, but they told me to come pick them up on Thursday.

Washington Dollars...Flip City

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