<< <i>Same as the Platinum Play, all the usuals suspects, FloridaBill 7over8, Fullstrike and the others,... you know. >>
Isn't it going to suck selling these one at a time on ebay though? Even if the price rises, is it going to be easy to wholesale off a whole bunch of FDCs?
If the bulk of the sales occured right here in this thread, there's going to be quite a few problems unloading them. Since you can only list 15 identical items at a time on eBay, there will be all sorts of different kinds of auctions for these, dutch, BIN, $1.00 NR, small lots, large lots, store inventory, and on and on. All starting tomorrow. YAY!
<< <i>It would be very interesting to know what percentage of the 50,000 sets will be sold to board members. I suspect it will be a high percentage.
If this is true, and if there is a quick sellout, it will be interesting to see what happens to these covers on the aftermarket I assume these could go sky high very quickly. >>
My guess...about 20% >>
I think it just moved up to 21% >>
Changed my mind...it's up to 22.5% >>
Oops just went up to 110%
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
I hate these things......definitely keeping the majority of capital for other issues, But with all the talk and action, I had to be in Especially given the 30 day return.
You need to keep track of those ship dates. If they flop... You may have to cancel the order. I would hate to forget about my order and a box of those dreaded cover shows up at my door.
I'm not a vigilante, I'm an undocumented border patrol agent!
<< <i>Isn't it going to suck selling these one at a time on ebay though? Even if the price rises, is it going to be easy to wholesale off a whole bunch of FDCs? >>
I sold off my 2006-W 1 oz plats for this very reason...something like 25-30% of the total issue was purchased by forum members. I just thought for sure that we'd all "crash the market." And look at the prices today--higher than ever.
Forum members buying so many plats didn't hurt the market, so I think we should be fine on these, too. One nice thing about FDCCs is that they are so affordable--a parent or grandparent might well buy half a dozen to give to family members. "Grass roots" demand should be strong on the secondary market.
I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
<< <i>If these things don't perform, the mint is going to get swamped with returns. I know my 200 will go back in a heartbeat. >>
Have you returned anything to the Mint recently? Once you get the email confirmation they received your return, you have to call during day business hours so they can confirm your return and release your refund within 7-10 business days. Not as easy as people think.
Having Fun At Other Peoples Expenses, One Day At A Time!
How many of those 2006-W BU Silver Eagle did they finally make? They sold for $19.95, from the Mint and look at what they're selling for now.
True, there are a lot of Silver Eagle Collectors out there but I think all this hoopla over Plain-edge Washingtons has focused attention on the series. Everyone wouldn't want to unload all at once, if unable to hold a few years, might be wise to pass. This is a gamble, a speculation if you will, nothing guaranteed. As for myself, I'm thinking this may turn out to be the best bet from the Mint this year. The Plat Anniversaries may be better but look for much difficulty in placing an order. The Mint may also decide to put out far too many of those, which would ease the ordering process but erase the profit potential. Oh no, I used that dreaded profit word.
<< <i>I would take a Silver Eagle ofer a Coin Crapper(cover) anyday. >>
But you can get 2 Coin Crapper Covers for the price of 1 Silver Eagle Round. = >>
And one that won't spot after being slabbed With the low mintage and being the first of the series, I truly can't see these going for less than what they cost from the mint even after you include the fees to sell them on eBay.
Never teach a pig to sing. You'll waste your time and annoy the pig
I know the silver eagle anniv. sets sold out over a period of months...I only wish I had not cancelled 30 of those. I could at least have kept my orders active for a while to see if I even needed to buy them....but NO, I cancelled them and only bought 10...that I sold for $4000 freaking dollars
Kick self*kick self*kick self
Great BST experiences: abitofthisabitofthat, silvercoinsdude, gerard, coinfame, mikescoins, wondercoin
I have to believe they will flop, big time, the buying public is already sick of the Washington Dollar, nothing except a piece of cardboard, and a little cellophane with two dollars in it, not errors, not proofs, just the same two dollars they can get at the bank. I orderd ten of these sets, then checked eBay, not moving at all, a few sellers got a premium, but not enough to mess with, went back and cancelled the order. I'll predict they will be selling for $12.99 on ebay by July... $10.99 by October...The only one that's going to make money on this is the mint.
On BS&T Now: Nothing. Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up! Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
OK I admit I don't want to read this entire thread, so can someone please tell me why it has generated over 300 replies? We're talking about George Washington dollars, right?
<< <i>can someone please tell me why it has generated over 300 replies? >>
Executive summary
- Only 50,000 of these sets will be produced.
- PCGS will apparently slab the coins in these sets with the First Day Issue label (although they really should slab the coins with a First Day of Mintage label because they are, according to the Mint from the First Day of Mintage)
- Some people who have already received the sets from the mint report that the quality of the coins in the sets is reportedly higher than those available in rolls and bags.
- Someone is already selling these sets on Ebay for more than twice the issue price.
All right, I went back and read some and the majority of the responses are from a handfull of members repeatedly speculating, and commenting on their order status, which helps me understand the post count.
For those ordering 50 or a 100 or more of these covers I can only assume you think you will enjoy a large windfall through the sale of these things. For your sake I hope that is the case, but I'm afraid while there might be an opportunity for profit here, I seriously doubt it will be as large as many expect and are hoping for. If there are profits to be made, they likely will be in the short term so don't sit on these dogs for too long, imo.
Besides you all, who exactly wants these gimmicks? Not many.
Here is the best advice I noticed in my reading through some of the responses to this topic:
<< <i> the problem with the cover market is that it is way too thin
when prices move up they are only beaten down by much more supply
there are never enough buyers. this has happened with the deleware and pennsylvania state qtr covers. I know dealers with 100's they had fire sales with......selling at $10 (a 50% loss) just to free up some capital....
dont get too overzealous with these things.......
there are many more buyers for silver and gold eagles.
who the hel* wants these things in the secondary? >>
<< <i>Besides you all, who exactly wants these gimmicks? Not many. >>
some good contrary points and if anyone is gambling with the mortgage they should get out. if it's within someones means to buy a few i believe there's about as good a chance as any here.
i qualify as one of you all but i think these have a wide appeal. while slabs contain some pertinent presidential information like the dates on the term of office, i look for these cover sets to have an extensive biography on the reverse of the envelope. that's a good teaching tool and something nice to save for the kids as the series moves along.
part of the hope i believe is that they will catch on where past cover sets haven't. the state quarter sets didn't fare well in part because of the lack of artwork on the envelope. sounds crazy but they're mundane.
the ones with nice artwork i believe will eventually go up. in fact, if not for the mint pulling the rug out from underneath the secondary market on last years ocean in view sets they would be selling for good money now.
i agree with what fullstrike said earlier about holding a long time. the other issues might not do anything but the first limited issue year will at least hold at $14.95 and in time, if these become standard numismatic fare, could really become a key.
<< <i>He's already sold a couple of BIN's for $28 each >>
We did sell 2 @ $28.95 on Ebay and several direct sales @ $26.00 per set. We have one in open Ebay auction with bids right now, it will be interesting to see where it ends. I can not believe the Mint has not sold out of these by now or did they???? We placed several orders from day 1 through Monday 4-9. All day 1 orders have arrived but the rest show an expected ship date. We feel these will be a hot item and will sell set by set through the beginning to the high point, through the settle and low, and be waiting for the climb in price down the road.
<< <i> I orderd ten of these sets, then checked eBay, not moving at all, a few sellers got a premium, but not enough to mess with >>
What do you expect, they're not officially sold out yet. It is very rare for people to pay a premium for something they can still order from the Mint. >>
I would expect more interest, just check completed auctions...
My thanks to those who are somewhat skeptical. I hope I don't regret it later, but after taking a step back and thinking things through I deceided to cancel most of my orders. I am still buying a few but I don't want to go crazy on these and I don't want to get stuck with them later. My eyes are focused on another new release by the mint that looks good to me.
I can understand perfectly if someone is going to submit for First Strike. But, it seems to me that waiting for the uncirculated mint set would be the best bet for the higher grade Washington dollars if you don't care about First Strike.
There is no reason to cancel at this point...they aren't going to be delivered until 4/23 (at the earliest) so you have until then to cancel. Its not like you'll really get stuck with them...you can return them
Great BST experiences: abitofthisabitofthat, silvercoinsdude, gerard, coinfame, mikescoins, wondercoin
<< <i>I can understand perfectly if someone is going to submit for First Strike. But, it seems to me that waiting for the uncirculated mint set would be the best bet for the higher grade Washington dollars if you don't care about First Strike.
Am I wrong? >>
I believe the best way to capitalize off these sets in the short term is to send them in for grading. The coins do appear to be of overall better quality than the FDI rolls. Prices for the top grades of FDI have been on the rise with the low top pop figures. I think the top-pop figures will increase.
Never teach a pig to sing. You'll waste your time and annoy the pig
<< <i>part of the hope i believe is that they will catch on where past cover sets haven't. >>
This is a strong possibility. PCGS has already graded more George Washington business strikes than all the 2005+2006+2007 State Quarter Business Strikes Combined. (11 states & 2 mint marks each.) The PCGS Graded $1 coins have sold by the 1000's too.
<< <i> I orderd ten of these sets, then checked eBay, not moving at all, a few sellers got a premium, but not enough to mess with >>
What do you expect, they're not officially sold out yet. It is very rare for people to pay a premium for something they can still order from the Mint. >>
Tell that to the guys at Shop @ Home Last night they had 2007 proof ASEs for $69
<< <i>After all they are officially sanctioned first day of minting coins. No one but the mint can guarantee that!!!! The mint has found a way to discredit all of the First Strike hoopla. Good for them, but more importantly good for collectors!!! >>
I agree. And unless PCGS or their competition offers labels distinguishing these coins as First Day of Mintage instead of just First Day of Issue, I do not see the point in removing them from the sets. (psst, hear that again PCGS?) >>
Will they redistribute these to those on the wait list, perhaps limiting orders like the AGE 20th Anniversary Sets to one per customer? They may put a limit on the John Adams version if Washington is a quick sellout.
<< <i>What do you expect, they're not officially sold out yet. It is very rare for people to pay a premium for something they can still order from the Mint. Tell that to the guys at Shop @ Home Last night they had 2007 proof ASEs for $69 >>
Those guys prey off of people that haven't mastered the internet yet. They are selling the 20th ASE set for $4,000 in an NGC 70 holder, the same set goes for ~1,200 on eBay
Never teach a pig to sing. You'll waste your time and annoy the pig
My opinion on recent US coin issues and the semi-abortive efforts on the mints part to issue properly leads me to an observation: there are 300,000,000 people in the US (approx). There are what, 5 to 7 or more billion people in the world today, (who really knows?) and the fine gentle persons of this forum are only using 5 zero's in their conversations concerning scarcity.
If not now, certainly in the near future (given no apocalyptic event in the next, say 5 to 10 years), wouldn't everything we're discussing be in short supply?
The further we get from WWII and towards a reasonable state of world stability, the more almost all countries will contribute to the population of serious collectors of coins (coins, which will in our electronic future probably go away), thereby creating attractive scarcities and the like. We live and co-exist in a new and relevatory web world where everybody will be able to participate in changing the rules, and the rules are changing...
Folks who want a quick profit will be rolling the proverbial dice, informed or not.
I prefer a more gentle, rolling, observatory approach to time, nothing measured in the micro-second framework of today's desired web reality. Having said that, the more quickly an observation can be made and installed on the web, the more effortless a "fact" can be recorded worldwide, the more the immediate ripple effects of these "facts" worldwide will affect the web reality we exist within.
Other than that, how's your day?
Ed for spl
One of the penalties for refusing to participate in politics is that you end up being governed by inferiors. – Plato
<< <i>Will they redistribute these to those on the wait list, perhaps limiting orders like the AGE 20th Anniversary Sets to one per customer? They may put a limit on the John Adams version if Washington is a quick sellout. >>
Or they might bump up production on the J Adams cover - putting even more upward pressure on the Washington Cover.
Comments
<< <i>Same as the Platinum Play, all the usuals suspects, FloridaBill 7over8, Fullstrike and the others,... you know. >>
Isn't it going to suck selling these one at a time on ebay though? Even if the price rises, is it going to be easy to wholesale off a whole bunch of FDCs?
<< <i>
<< <i>
<< <i>
<< <i>It would be very interesting to know what percentage of the 50,000 sets will be sold to board members. I suspect it will be a high percentage.
If this is true, and if there is a quick sellout, it will be interesting to see what happens to these covers on the aftermarket I assume these could go sky high very quickly. >>
My guess...about 20%
I think it just moved up to 21%
Changed my mind...it's up to 22.5%
Oops just went up to 110%
<< <i>This coin collecting stuff is a lot of fun.
And sometimes getting involved in "quick rich" schemes like this one.
so who's worried?
But with all the talk and action, I had to be in
Especially given the 30 day return.
<< <i>Isn't it going to suck selling these one at a time on ebay though? Even if the price rises, is it going to be easy to wholesale off a whole bunch of FDCs? >>
I sold off my 2006-W 1 oz plats for this very reason...something like 25-30% of the total issue was purchased by forum members. I just thought for sure that we'd all "crash the market." And look at the prices today--higher than ever.
Forum members buying so many plats didn't hurt the market, so I think we should be fine on these, too. One nice thing about FDCCs is that they are so affordable--a parent or grandparent might well buy half a dozen to give to family members. "Grass roots" demand should be strong on the secondary market.
<< <i>I would take a Silver Eagle ofer a Coin Crapper(cover) anyday.
But you can get 2 Coin Crapper Covers for the price of 1 Silver Eagle Round.
<< <i>If these things don't perform, the mint is going to get swamped with returns. I know my 200 will go back in a heartbeat. >>
Have you returned anything to the Mint recently? Once you get the email confirmation they received your return, you have to call during day business hours so they can confirm your return and release your refund within 7-10 business days. Not as easy as people think.
How many of those 2006-W BU Silver Eagle did they finally make? They sold for $19.95, from the Mint and look at what they're selling for now.
True, there are a lot of Silver Eagle Collectors out there but I think all this hoopla over Plain-edge Washingtons has focused attention on the series. Everyone wouldn't want to unload all at once, if unable to hold a few years, might be wise to pass. This is a gamble, a speculation if you will, nothing guaranteed. As for myself, I'm thinking this may turn out to be the best bet from the Mint this year. The Plat Anniversaries may be better but look for much difficulty in placing an order. The Mint may also decide to put out far too many of those, which would ease the ordering process but erase the profit potential. Oh no, I used that dreaded profit word.
<< <i>
<< <i>I would take a Silver Eagle ofer a Coin Crapper(cover) anyday.
But you can get 2 Coin Crapper Covers for the price of 1 Silver Eagle Round.
And one that won't spot after being slabbed
I know the silver eagle anniv. sets sold out over a period of months...I only wish I had not cancelled 30 of those.
I could at least have kept my orders active for a while to see if I even needed to buy them....but NO, I cancelled them and only bought 10...that I sold for $4000 freaking dollars
Kick self*kick self*kick self
G.W. DCC on eBay
I think I'm convinced! Is it too late?
<< <i>I think I'm convinced! Is it too late? >>
Probably, but you can always try.
At worst, the Mint will string you along for several months like they did with those 2006-W-BU-Plats.
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
Hoard the keys.
<< <i>can someone please tell me why it has generated over 300 replies? >>
Executive summary
- Only 50,000 of these sets will be produced.
- PCGS will apparently slab the coins in these sets with the First Day Issue label (although they really should slab the coins with a First Day of Mintage label because they are, according to the Mint from the First Day of Mintage)
- Some people who have already received the sets from the mint report that the quality of the coins in the sets is reportedly higher than those available in rolls and bags.
- Someone is already selling these sets on Ebay for more than twice the issue price.
For those ordering 50 or a 100 or more of these covers I can only assume you think you will enjoy a large windfall through the sale of these things. For your sake I hope that is the case, but I'm afraid while there might be an opportunity for profit here, I seriously doubt it will be as large as many expect and are hoping for. If there are profits to be made, they likely will be in the short term so don't sit on these dogs for too long, imo.
Besides you all, who exactly wants these gimmicks? Not many.
Here is the best advice I noticed in my reading through some of the responses to this topic:
<< <i> the problem with the cover market is that it is way too thin
when prices move up they are only beaten down by much more supply
there are never enough buyers. this has happened with the deleware and pennsylvania state qtr covers. I know dealers with 100's they had fire sales with......selling at $10 (a 50% loss) just to free up some capital....
dont get too overzealous with these things.......
there are many more buyers for silver and gold eagles.
who the hel* wants these things in the secondary? >>
<< <i>Besides you all, who exactly wants these gimmicks? Not many. >>
some good contrary points and if anyone is gambling with the mortgage they should get out.
if it's within someones means to buy a few i believe there's about as good a chance as any here.
i qualify as one of you all but i think these have a wide appeal. while slabs contain some
pertinent presidential information like the dates on the term of office, i look for these cover sets to have an
extensive biography on the reverse of the envelope. that's a good teaching tool and something nice to save
for the kids as the series moves along.
part of the hope i believe is that they will catch on where past cover sets haven't. the state quarter sets
didn't fare well in part because of the lack of artwork on the envelope. sounds crazy but they're mundane.
the ones with nice artwork i believe will eventually go up. in fact, if not for the mint pulling the rug out from
underneath the secondary market on last years ocean in view sets they would be selling for good money now.
i agree with what fullstrike said earlier about holding a long time. the other issues might not do anything but
the first limited issue year will at least hold at $14.95 and in time, if these become standard numismatic fare, could
really become a key.
Representing 8% of the issue, all I can say is I hope you have your orders in....THIS IS GOING TO BE FUN!!!!
FloridaBill
<< <i> I orderd ten of these sets, then checked eBay, not moving at all, a few sellers got a premium, but not enough to mess with >>
What do you expect, they're not officially sold out yet. It is very rare for people to pay a premium for something they can still order from the Mint.
<< <i>He's already sold a couple of BIN's for $28 each >>
We did sell 2 @ $28.95 on Ebay and several direct sales @ $26.00 per set. We have one in open Ebay auction with bids right now, it will be interesting to see where it ends. I can not believe the Mint has not sold out of these by now or did they???? We placed several orders from day 1 through Monday 4-9. All day 1 orders have arrived but the rest show an expected ship date. We feel these will be a hot item and will sell set by set through the beginning to the high point, through the settle and low, and be waiting for the climb in price down the road.
<< <i>
<< <i> I orderd ten of these sets, then checked eBay, not moving at all, a few sellers got a premium, but not enough to mess with >>
What do you expect, they're not officially sold out yet. It is very rare for people to pay a premium for something they can still order from the Mint. >>
I would expect more interest, just check completed auctions...
128 Sets offered on eBay to date...
5 sets sold @ $21.50 to $28.95...
123 Sets had No Bids...
Link To Completed Auctions...
They were snatching up the ASE 20th Ann. Sets from day one, even tho you could still order them from the mint for another 30 days or so...
The Mod's want Plastic not Cardboard..."-)
Currently Listed: Nothing
Take Care, Dave
Am I wrong?
<< <i>I can understand perfectly if someone is going to submit for First Strike. But, it seems to me that waiting for the uncirculated mint set would be the best bet for the higher grade Washington dollars if you don't care about First Strike.
Am I wrong? >>
I believe the best way to capitalize off these sets in the short term is to send them in for grading. The coins do appear to be of overall better quality than the FDI rolls. Prices for the top grades of FDI have been on the rise with the low top pop figures. I think the top-pop figures will increase.
<< <i>part of the hope i believe is that they will catch on where past cover sets haven't. >>
This is a strong possibility. PCGS has already graded more George Washington business strikes than all the 2005+2006+2007 State Quarter Business Strikes Combined. (11 states & 2 mint marks each.) The PCGS Graded $1 coins have sold by the 1000's too.
<< <i>
<< <i> I orderd ten of these sets, then checked eBay, not moving at all, a few sellers got a premium, but not enough to mess with >>
What do you expect, they're not officially sold out yet. It is very rare for people to pay a premium for something they can still order from the Mint. >>
Tell that to the guys at Shop @ Home
<< <i>
<< <i>After all they are officially sanctioned first day of minting coins. No one but the mint can guarantee that!!!! The mint has found a way to discredit all of the First Strike hoopla. Good for them, but more importantly good for collectors!!! >>
I agree. And unless PCGS or their competition offers labels distinguishing these coins as First Day of Mintage instead of just First Day of Issue, I do not see the point in removing them from the sets. (psst, hear that again PCGS?) >>
absolutely!!!
Box of 20
<< <i>What do you expect, they're not officially sold out yet. It is very rare for people to pay a premium for something they can still order from the Mint.
Tell that to the guys at Shop @ Home
Those guys prey off of people that haven't mastered the internet yet. They are selling the 20th ASE set for $4,000 in an NGC 70 holder, the same set goes for ~1,200 on eBay
My opinion on recent US coin issues and the semi-abortive efforts on the mints part to issue properly leads me to an observation: there are 300,000,000 people in the US (approx). There are what, 5 to 7 or more billion people in the world today, (who really knows?) and the fine gentle persons of this forum are only using 5 zero's in their conversations concerning scarcity.
If not now, certainly in the near future (given no apocalyptic event in the next, say 5 to 10 years), wouldn't everything we're discussing be in short supply?
The further we get from WWII and towards a reasonable state of world stability, the more almost all countries will contribute to the population of serious collectors of coins (coins, which will in our electronic future probably go away), thereby creating attractive scarcities and the like. We live and co-exist in a new and relevatory web world where everybody will be able to participate in changing the rules, and the rules are changing...
Folks who want a quick profit will be rolling the proverbial dice, informed or not.
I prefer a more gentle, rolling, observatory approach to time, nothing measured in the micro-second framework of today's desired web reality. Having said that, the more quickly an observation can be made and installed on the web, the more effortless a "fact" can be recorded worldwide, the more the immediate ripple effects of these "facts" worldwide will affect the web reality we exist within.
Other than that, how's your day?
Ed for spl
is that you end up being governed by inferiors. – Plato
<< <i>Will they redistribute these to those on the wait list, perhaps limiting orders like the AGE 20th Anniversary Sets to one per customer? They may put a limit on the John Adams version if Washington is a quick sellout. >>
Or they might bump up production on the J Adams cover - putting even more upward pressure on the Washington Cover.
350..."-)
Currently Listed: Nothing
Take Care, Dave