Whoa Nelly... Someone is trying to score big in the GW Cover Market...

SpaceMonkey · May 21, 2007 4:15PM

man i hope this starts a new frenzy... mine are locked and loaded!

Wishful Thinking?

/ed

DUIGUY · May 21, 2007 4:20PM

Not my cup of slop , but WOWZERS !!

garsmith · May 21, 2007 4:33PM

How much where these each when you could get them from the mint?

SpaceMonkey · May 21, 2007 4:35PM

15 bucks...

do you think it is actually possible that they know it is too high but trying to drive the price up by display such a high number? if so, interesting marketing trick! I have noticed that latley the number of covers on ebay dropping... maybe they think the time is right?

/ed

Bochiman · May 21, 2007 4:36PM

$14.95

I bought 105 of them and have sold 100.
Still have 5. I would like to get a couple graded by NGC to have in the holder.....but am not a member so I just hold them right now.

Bochiman · May 21, 2007 4:36PM

<< 15 bucks...

do you think it is actually possible that they know it is too high but trying to drive the price up by display such a high number? if so, interesting marketing trick! I have noticed that latley the number of covers on ebay dropping... maybe they think the time is right?

/ed >>

Likely that...and, if you notice, they are taking best offers and have declined 2....from the same buyer. I think they may be pricing high and hoping for an ok offer.

SpaceMonkey · May 21, 2007 4:38PM

<< $14.95

I bought 105 of them and have sold 100.
Still have 5. I would like to get a couple graded by NGC to have in the holder.....but am not a member so I just hold them right now. >>

how did you do Bochiman? Well I hope? but I think things might pick up with this in the near future... prices seem to be on a steady rise from what I can see.

/ed

AskRaq · May 21, 2007 4:38PM

<< $14.95

I bought 105 of them and have sold 100.
Still have 5. I would like to get a couple graded by NGC to have in the holder.....but am not a member so I just hold them right now. >>

I think you only have to be a member for PCGS.... NGC I think is open to anybody(?)

Dollar2007 · May 21, 2007 4:46PM

NGC has the collectors Society you have to join with a $99.00 fee to get direct submission privileges. Info available here.

Bochiman · May 21, 2007 4:48PM

<< 

<< $14.95

I bought 105 of them and have sold 100.
Still have 5. I would like to get a couple graded by NGC to have in the holder.....but am not a member so I just hold them right now. >>

how did you do Bochiman? Well I hope? but I think things might pick up with this in the near future... prices seem to be on a steady rise from what I can see.

/ed >>

Did ok.... ~30% profit so I won't complain. I got out asap....and watched them go down in price while they were on ebay (sold ~$1050 / 50set box).
When I listed mine, $1100+ was going rate but others got theirs when I got mine and put them up for $999 BIN....so, I was fortunate to get the $1050.

garsmith · May 21, 2007 4:48PM

Wow that's quite a nice turn around $750 paid and if it sells at $3000 thats $2250 profit; wonder if they'll report that to the IRS

And he has 4 available thats a potential $9000 profit

COINB0Y · May 21, 2007 4:51PM

Boch, it's easy! $99 Bucks + you get (5) Free Grades, it pays for itself. You get online-pops, etc.

---------------------------------
At $3,000 a case, he won't be selling much for a while. However, it is a nice mother-loade to be sitting on.

Oh and besides, those are NOT cases of 50 Covers.

If he ordered 99 (you couldn't order 100, the cases kinda of look like that, but the label dosen't look right)

Bochiman · May 21, 2007 4:54PM

<< Wow that's quite a nice turn around $750 paid and if it sells at $3000 thats $2250 profit; wonder if they'll report that to the IRS

And he has 4 available thats a potential $9000 profit

>>

Yeah, he won't get it though.
The John Adams dollars (not FDCC though) are out....these are the type of things to get in and get out, quickly.
Some may rise, but most will fall.

love it if I am wrong, but so far, in the last few years, I have seen it repeat. 10,000-20,000 mintage and it would last. The 50,000 it has, with nothing really cool except first of a losing series and that is can be slabbed 1st day of mintage.....nah, I think it is too high.

May stabilize at $20-$25/set. Maybe hit $30/set, but I think that is pushing it. Most likely to hit $20/set for a long while and maybe go under initial cost

COINB0Y · May 21, 2007 4:56PM

I'm selling them like hot cakes at $34-$36 each in groups of 3, 5, and 10.

garsmith · May 21, 2007 4:57PM

<<May stabilize at $20-$25/set. Maybe hit $30/set, but I think that is pushing it. Most likely to hit $20/set for a long while and maybe go under initial cost>>

I have to agree with you, but in the mean time he might get a couple suckers!

Bochiman · May 21, 2007 4:58PM

<< Boch, it's easy! $99 Bucks + you get (5) Free Grades, it pays for itself. You get online-pops, etc.

---------------------------------
At $3,000 a case, he won't be selling much for a while. However, it is a nice mother-loade to be sitting on.

Oh and besides, those are NOT cases of 50 Covers.

If he ordered 99 (you couldn't order 100, the cases kinda of look like that, but the label dosen't look right) >>

Yeah, but I don't do much submitting and hadn't desired to get all graded.
Though, if prices stay up for the MS66/MS66 ones....that is sweet

Bochiman · May 21, 2007 5:00PM

<< I'm selling them like hot cakes at $34-$36 each in groups of 3, 5, and 10. >>

How much does grading cost?
$15 purchase price from the mint. If I were to do the NGC $99/5 gradings, that is ~$20/set for grading (do they count each set as 2coins/gradings?).
So, that would be at least $35/set not including shipping/handling to and from. Unless it is MS66/MS66, I don't see the prices making it worth it for just a couple, and, I only want to keep a couple. Not all 5.

bluespaceant · May 21, 2007 5:17PM

GAT · May 21, 2007 5:26PM

Box 001 sold on eBay for $3,000 and it was posted here. Last I saw the purchaser was trying to bail out at a $500 loss. I purchased 50 and still have them in 3 unopened boxes, 2 Boxes of 15 and 1 of 20. I paid the extra shipping in order to have extra options when selling.

HonoluluDude · May 22, 2007 2:37AM

Bagholders... Where would the coin world be without them?

ziggy29 · May 22, 2007 2:44AM

$60 per cover? Insanity. Most are being offered now in the $30-35 range (sealed) as BINs. One is selling for $25.25 plus shipping.

Assuming the going rate is $30, they're asking $3000 for $1500 worth of merchandise. The box isn't worth $1500...is it?

I never know any more. Logic is out the window for valuation of recent Mint products, largely because of a meaningless designation as to when coins were shipped...

ddink · May 22, 2007 9:29AM

You all think the 20th ASE sets are rising fast, these have gone from $21.75 a week ago (when I finished selling all mine) to $35 in one week. 50% increase in a week isn't bad

ziggy29 · May 22, 2007 9:30AM

<< You all think the 20th ASE sets are rising fast, these have gone from $21.75 a week ago (when I finished selling all mine) to $35 in one week. 50% increase in a week isn't bad

>>

I was late to this one. I only wanted one to collect, but I had to pay $24.95 + S/H for mine. Looks like it would have been more if I waited.

And now I've started a subscription, and I don't care how many them they issue. I'm collecting one of each because I like them.

mark511 · May 22, 2007 9:32AM

Someone just dropped 66.00 for one of my sets. Crazy.

08HALA20 · May 22, 2007 9:46AM

<< Someone just dropped 66.00 for one of my sets. Crazy. >>

Crazy is right---2 of them bidding crazy.

Joe

Bochiman · May 22, 2007 9:51AM

<< You all think the 20th ASE sets are rising fast, these have gone from $21.75 a week ago (when I finished selling all mine) to $35 in one week. 50% increase in a week isn't bad

>>

Like many thought, once the return period to the mint was over, people would have to make a choice.
I sold mine lower than today's price but I won't cry about it. Made my 30% or so.

Now, you have a lull....people that kept them, and can't return to the mint and some are likely going back to the mint and will be sent out to those next in line. So, once those hit the market, it will be fun to watch.

I wouldn't mind if these hit $100 a cover...I still have a couple to sell

mark511 · May 22, 2007 9:55AM

The winner paid.

<< 

<< Someone just dropped 66.00 for one of my sets. Crazy. >>

Crazy is right---2 of them bidding crazy.

Joe >>

OPA · May 22, 2007 9:57AM

<< The winner paid.

<< 

<< Someone just dropped 66.00 for one of my sets. Crazy. >>

Crazy is right---2 of them bidding crazy.

Joe >>

>>

I hope the looser finds my FDCC to bid on...

08HALA20 · May 22, 2007 9:59AM

<< 

<< I'm selling them like hot cakes at $34-$36 each in groups of 3, 5, and 10. >>

How much does grading cost?
$15 purchase price from the mint. If I were to do the NGC $99/5 gradings, that is ~$20/set for grading (do they count each set as 2coins/gradings?).
So, that would be at least $35/set not including shipping/handling to and from. Unless it is MS66/MS66, I don't see the prices making it worth it for just a couple, and, I only want to keep a couple. Not all 5. >>

You need to send in 3 sets (5 coin minimum) I sent in 5 covers (10 coins) and with grading and initial $15 cover cost my total expense was $215 arounf $43 per cover graded. I used their online submission form and saved 10% on fees $11.25 per coin versus $12.50.

3 covers grading and shipping around $90 (6 x $11.25 plus shipping to and from).
Ebay members can submit directly to NGC: I never used this but you might try it.

eBay--NGC linky

Rookie Joe

OPA · May 22, 2007 10:04AM

Thanks...I did not know that option was available...

ddink · May 22, 2007 10:41AM

<< Like many thought, once the return period to the mint was over, people would have to make a choice. >>

I argued that too, but the Mint's return policy expired around 5/14 for most people. I figured it would be a good time to sell around then. Friday, 5/18, the sets were in the low 20s still. A 50% increase in four days is amazing...especially since we can be reasonably sure that anyone who still had sets on 5/18 was no longer eligible to return them.

WinPitcher · May 22, 2007 10:50AM

Guy can ask for the moon does not mean he will get it.

I wonder why anyone would pay 66.00 for these when BIN's abound in the 30-35 dollar range.

I bought 10, have 2 left and sold mine for an average of 25.00 each.

I have my last one that I am selling up on ebay as we speak.

Steve

WinPitcher · May 22, 2007 10:50AM

Assuming the going rate is $30, they're asking $3000 for $1500 worth of merchandise. The box isn't worth $1500...is it?

Nope

Steve

Texast · May 22, 2007 11:30AM

Maybe he heard the Coin Vault was looking for 2000 sets of these for there show. (no I have no inside information, but I can start the rumor and let it brew untill there $100 a set

)

FloridaBill · May 22, 2007 12:57PM

<< Maybe he heard the Coin Vault was looking for 2000 sets of these for there show. (no I have no inside information, but I can start the rumor and let it brew untill there $100 a set >>

NOT RUMOR – FACT: I personally spoke with a major dealer (to be left unnamed) a couple of days ago that had just bought almost 3000 in the aftermarket (and was looking to buy more; that’s why we were talking), so it sure looks to me like someone is planning a major promotion.

BTW, my buddy that bought 2000 just had his BIN hit for $1499. The only remaining 50 pack on eBay is the one for $3K.

FloridaBill

MarquisCoins · May 22, 2007 1:43PM

Florida Bill,
I have been reading your posts since I joined this board a couple months ago. you seem to always looking at the big picture and looking at what will happen down the road. IMO if coin covers do end up being promoted big by HSN or some other sales force it will create demand for the whole series and make not only this issue but all the issues heavily sought after. Would you agree with that? If thats the case then should'nt we use the same ordering strategy for the next issue?
Also do you see NGC grading the state quarters at some point? If they did it would create demand for the state quarters covers also. They would basically start a whole new way to collect covers on a product that already exists. It would also make these last quarter issues of 35k the key of the series so far as they are the lowest mintage?
Whats your opinion on this?

Everyone else feel free to let me know your thoughts as well!

Thanks
Mike

<< 

<< Maybe he heard the Coin Vault was looking for 2000 sets of these for there show. (no I have no inside information, but I can start the rumor and let it brew untill there $100 a set >>

NOT RUMOR – FACT: I personally spoke with a major dealer (to be left unnamed) a couple of days ago that had just bought almost 3000 in the aftermarket (and was looking to buy more; that’s why we were talking), so it sure looks to me like someone is planning a major promotion.

BTW, my buddy that bought 2000 just had his BIN hit for $1499. The only remaining 50 pack on eBay is the one for $3K.

FloridaBill >>

compromonedas · May 22, 2007 2:01PM

<< man i hope this starts a new frenzy... mine are locked and loaded!

Wishful Thinking?

/ed >>

I think this guy is insane!

cullenbryant · May 22, 2007 2:11PM

i don't watch these very closely but looking at them they
look like they're increasing in value steadily.

cullenbryant · May 22, 2007 2:13PM

is subscription the only way to get the adams covers or will
they go on general sale sometime?

Texast · May 22, 2007 2:50PM

Just put in an order for 50 sets of the Adams, after I ordered if showed a message - "Item MA6 included as a free gift" has anyone else seen that? (MA6 is the John Adams First Day Cover)

Also picked up 25 sets of GW Covers, didn't think the rumor I imagined would be true (I hope you were not kidding Florida Bill) seller must see writing on wall, bumped price on remaining sets after I bought, paid 2.1 x issue price - shipping included, might be a gamble but I wish I had done the same with the ASE Anniversary sets.

Live and learn, now the question, which will have the better value, graded or sealed and ungraded?

ddink · May 22, 2007 10:16PM

Looks like $3000 wasn't enough...he raised it to $3500.

Manorcourtman · May 22, 2007 11:13PM

I think these are going to steadily increase in value, especially the sealed mailers. I fully expect to see $50 each in the next few weeks based on current trends and number of auctions on the bay. I bit the bullet and didn't sell into the weakness from a few weeks back like many sellers did. I bet there are some people who are pizzed at themselves for selling now! $100 per set is not out of the question imho. They are a neat piece of history with actual significance as they are actually minted on the first day of production. Not many other modern gizmos from the mint have actual provences(sp?) that are traceable.

ddink · May 23, 2007 8:54AM

<< I bet there are some people who are pizzed at themselves for selling now! $100 per set is not out of the question imho. >>

$100 is not out of the question. Nah, I'm not mad at myself for selling. I knew that $40-$100 per set was a possibility. I also knew that it was possible that the Mint would re-release returned sets (and it still is possible, if just remotely), which could have driven the price down to the $12-14 range. I think my decision to sell, based on the certainty of a 35% profit versus the possibility of either a 500% profit OR a 35% loss was a reasonable decision.

It would be easy to be angry at myself for selling when the market was weak. But, since I cannot predict the future, it'd be just as logical to be angry at myself for not picking the right Powerball numbers last week. Hindsight...20/20...all that.

Manorcourtman · May 23, 2007 9:55AM

At least you are honest!!

Casman · May 23, 2007 10:37AM

Still waiting for the rest of my orders says ship date June 7th, don't really think they are gonna come

andyisbak · May 23, 2007 11:53AM

<< $14.95

I bought 105 of them and have sold 100.
Still have 5. I would like to get a couple graded by NGC to have in the holder.....but am not a member so I just hold them right now. >>

Bochiman

you don't need to be a member of collectors society to submit coins to ngc.

just follow this link Linky

you can fill out everything online then print and mail the coins...i used twice before i joined collectors society...the only difference between being a member is that you can check the status of the coin online thru the CS website. But you can always call them to check the status..

SUMORADA · May 23, 2007 12:52PM

i put up a bin for 10 covers yesterday @379.95.....gone today! these things are hot !

FloridaBill · May 23, 2007 1:23PM

Congrats! Hope you have a big stash....

FloridaBill

Bochiman · May 23, 2007 3:39PM

<< 

<< $14.95

I bought 105 of them and have sold 100.
Still have 5. I would like to get a couple graded by NGC to have in the holder.....but am not a member so I just hold them right now. >>

Bochiman

you don't need to be a member of collectors society to submit coins to ngc.

just follow this link Linky

you can fill out everything online then print and mail the coins...i used twice before i joined collectors society...the only difference between being a member is that you can check the status of the coin online thru the CS website. But you can always call them to check the status.. >>

Thanks Andy...I may look into doing that...just need to see if they will slab only 2 or if there is a limit...I'll bookmark and check into it.

SpaceMonkey · May 23, 2007 3:55PM

holy golden dollars batman...

does this guy know something we don't?

what... the... frigg???

compromonedas · May 23, 2007 4:05PM

well, I dont see any others box of 50 left on e-bay, he probably saw this.
Insane
Keith

Whoa Nelly... Someone is trying to score big in the GW Cover Market...

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