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Washington Smoothies, 125 found today from 1 Box, walked in to my Local Dealer
dgreene56
Posts: 206
Wow Wow and Double Wow!!! Just got back from my local dealer where I went to relax for about an hour. While I was there, a guy walks in with 125 of the Smooth Edge Errors that he just found in 1 box he got from his bank in the same area I live in. 125 coins in 1 box! My dealer bought them all. The guy was tight lipped about which of our local banks he got his box from or the date on the box. He said he had 1 more box promised to him by the bank but they told him that was it, no more! He left to go get it before they changed their mind or gave it to someone else. In my area of Central Florida here, people are still finding some great stuff in these boxes. Let me tell you, what I just witnessed at my local dealer's shop really got my juices flowing again! I've had some good finds so far, smoothies, partial smoothies, "Pez Heads", dropped letters etc. but nothing like that quantity. What a great thing for the hobby all this publicity about errors. Just thought I'd share the story.
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<< <i>So what did the dealer pay for each coin? >>
Inquiring minds want to know.
<< <i>
<< <i>So what did the dealer pay for each coin? >>
Inquiring minds want to know.
If my information is accurate, they are going for between $60 and $80 in bulk at the coin dealer level.
I gave up looking, maybe I quit too soon
I just shipped 100 smoothies to PCGS for slabbing, I will be real interested in how they grade.
RIck
Kaleidoscope Coins
<< <i>Don't know what he paid but he told me he paid what the guy asked for them. He offered me @$100 for a few coins. I said if you let me pick some 66's out of there, sure. Nothing got done. I've got enough right now and I think they may come in a little in the next week or so. He's got another standing buyer and only offered to me because we've done business for over 20 years. Hearing they're starting to turn up more in South Florida now whereas most of the early finds were North Florida. >>
I am in Ormond Beach/Daytona/Deland area, and the local dealers have all gotten together and determined that, to their knowledge, about 6,000 smoothies were found here. I know of a find of 6,800 back in late February in Jacksonville; I don't have much connection there so I don't have any idea of the total finds. I would not be surprised to see some more show up after the banks here ran out of coins and the Fed had to do another shipment to the coin suppliers of the banks (Wells Fargo and so forth.) If we get a big bunch of coins in the next coin release cycle, then those of us holding some smoothies for the future will be sad. If there are not a lot more then everything is cool. I think about 7K-9K coins have traded on Ebay and that is probably the bulk of what has been sold. Maybe I am wrong, who the heck knows? I think the fact that the mint has been silent on the amount in circulation is a big clue: If they thought that hundreds of thousands had gotten out there would probably have been a news release.
Rick
Holy crap! That's huge. Is that for real? That's about a $300k score, give or take a little.
RVDavis, I suspect your $60 to $80 in bulk is about right for raw coins. He did tell me he's paid as much as $75 for coins recently.
Kaleidoscope Coins
Liberty: Parent of Science & Industry
Another boon for PCGS, NGC etc. as people will eventually demand these to be authenticated and certified. Some people will get burned with raw coins, but that often happens in other series too from fakes, altered, and misgraded coins. People buying raw need to educate themselves or use only trustworthy dealers. Otherwise, they should stick with slabs. I'm already seeing a good spread between raw and certified on ebay.
Kaleidoscope Coins
Needless to say that email hit the trash folder in about 5 nanoseconds.
I will probably buy one of these someday, and I bet I will pay less than $25 for a PCGS 65 example.
Nowhere to go but DOWN, IMHO.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
But in MS67-68, they may be winners, even at Centsles's price.
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
<< <i>I got an email today from centsles (senseless) offering NGC smoothies for only $300 in 65, $600 in 66, and $1800 in 67.
Needless to say that email hit the trash folder in about 5 nanoseconds.
I will probably buy one of these someday, and I bet I will pay less than $25 for a PCGS 65 example.
Nowhere to go but DOWN, IMHO. >>
That's what I'm betting on. All hype. People will kick themselves for dropping serious loot on these.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Honestly, I don't know why so many are so negative on these. They have generated huge public interest and you'll need one to have a complete set with varieties. It's as legitimate as any other mainstream error/variety. I see this coin as being good for the long haul. Yes, I expect them to possibly drop as low as $50 but that's about it. Only thing that could change that is if a huge additional quantity is discovered, which I don't think will happen, but could happen. If so, I probably lose the bet.
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