<< <i>Does anyone have a picture of the 1/4 oz buffalos they can share?
>>
>>
Cr4p! It's not showing here at work! Sigh* I guess I should just go ahead and get one of each PF and UNC.
Man these things are priced high. One PF and one UNC (1/4 oz each) = basically $625 while 1 ounce spot is $749 at the moment, and that's up 12 bucks. Can't make up my mind if the collector value is close to worth it.
Just told my better half about the clearance sale... the good news is that she said I could go ahead and pick-up a buffalo fractional!!! Think I'll go ahead and order one on thursday (if possible) and wait to see what the price is on Friday; if the price is less I'll cancel the order from thursday...
I wonder if the mint will change the design of the buffalo gold coin for next year; as allowed by law.
With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand.
i certainly think it's possible. refocusing the offering is good for everyone. some of the money currently spent on the eliminated programs will be spent on classic coins, or on existing moderns, or on remaining offerings.
I personally think the First Spouse program is over the top. 4 coins a year, in proof and unc. That's 8 coins each year, priced at around $500-600 per. They could just slow the program down, say 2 coins a year instead of 4, and make it easier for people to handle. But at least the First Spouse program has a definite end point- an advantage that offerings like the fractional buffalo golds and platinums didn't have. There is definitely more that the Mint could do to control offerings. But I think today's announcement is a big step in the right direction.
Wonder if the US Mint will offer the remaining 10th anniversary Platinum sets in their sale?
If they have any 2007 platinum anniversary sets left, they should liquidate them. Say $30 over spot.
That was one of the worst conceived offerings in recent memory- a reverse proof $50 (with the $50s historically being the least collected coin), coupled with a regular $50 no one wanted, and served no purpose other than to destroy any hope for the regularly issued 2007 $50s. I don't know how the Mint managed to sell as many as they did.
<< <i>With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand.
But at least the First Spouse program has a definite end point- an advantage that offerings like the fractional buffalo golds and platinums didn't have. . >>
You obviously didn't get the news release about the First Cousins program!
<< <i>With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand.
i certainly think it's possible. refocusing the offering is good for everyone. some of the money currently spent on the eliminated programs will be spent on classic coins, or on existing moderns, or on remaining offerings.
I personally think the First Spouse program is over the top. 4 coins a year, in proof and unc. That's 8 coins each year, priced at around $500-600 per. They could just slow the program down, say 2 coins a year instead of 4, and make it easier for people to handle. But at least the First Spouse program has a definite end point- an advantage that offerings like the fractional buffalo golds and platinums didn't have. There is definitely more that the Mint could do to control offerings. But I think today's announcement is a big step in the right direction. >>
The Mint issues the spouses about the same time each presidential dollar is issued. They issue 4 of those a year so they will continue to issue the 4 spouses. They should cut out the Unc spouses and just issue proof.
i think the mint has eliminated the bullion collector coins they were allowed to do so through the legislation. The plats and buffalo were not mandated to be sold except for one proof, but the spouse coins are.
The question is what will be the final mintages of these coins and how will they sell next year and in later years.
They should cut out the Unc spouses and just issue proof.
I'd be happy if they did that.
I wrote a few months ago that the Mint had gone overboard with its offerings, and should cut back. It didn't seem to be a popular opinion; a number of people wrote about "choice" and suggested that if you didn't like a particular coin, you shouldn't buy it.
I think they are wrong. What makes something a collectible is a controlled supply. Every hobby that has gone down the crapper -- stamps and baseball cards come to mind -- the decline happened when the supplier stopped caring about the long term sustainability of the hobby and produced as much as it could, in as many ways as it could, drowning collectors in offering after offering until the only way to survive was to stop collecting. I've been concerned for a few years now that coin collecting was heading down that path, and each year, things were getting worse. 24kt this, reverse proof that... there was no end to what the Mint could dream up.
I am SO pleased and grateful today that the Mint appears to be reversing course.
"We are responding to the collector community which has spoken loudly and clearly," said United States Mint Director Ed Moy. "Customers have told us there are just too many products. We agree, and it's time the United States Mint trims down and concentrates on the products our customers love most."
Mint Director Moy's performance rating has risen in my estimation. He has finally injected some rationality into the Mint's programs.
Besides giving us loyal collectors a reprieve, it gives a boost to existing collections that can now be completed methodically, and more collectors will finally be allowed to have the satisfaction of having stuck it out.
While I have the utmost admiration for Chief Justice Roberts, I think that the politically-correct interpretation of "A More Perfect Union" is simply wrong. It implies that a racial focus will result in a more perfect union. I believe that the artist's rendition is exactly 100%opposite of the desired and intended effect. A More Perfect Union should NOT focus on the different racial components that make up our country.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>Mint Director Moy's performance rating has risen in my estimation. He has finally injected some rationality into the Mint's programs.
Besides giving us loyal collectors a reprieve, it gives a boost to existing collections that can now be completed methodically, and more collectors will finally be allowed to have the satisfaction of having stuck it out.
While I have the utmost admiration for Chief Justice Roberts, I think that the politically-correct interpretation of "A More Perfect Union" is simply wrong. It implies that a racial focus will result in a more perfect union. I believe that the artist's rendition is exactly 100%opposite of the desired and intended effect. A More Perfect Union should NOT focus on the different racial components that make up our country. >>
While I have the utmost admiration for Chief Justice Roberts, I think that the politically-correct interpretation of "A More Perfect Union" is simply wrong. It implies that a racial focus will result in a more perfect union. I believe that the artist's rendition is exactly 100% opposite of the desired and intended effect. A More Perfect Union should NOT focus on the different racial components that make up our country.
Agreed! A coin showing representative images of these groups, for no purpose other than to generically identify them by gender or race, is offensive.
<< <i>The United States Mint relied principally on the number of units sold in determining which products or product lines have been most popular with collectors and other customers. More than 550 individual coin and medal products were evaluated; nearly 200 of those coin and medal products will remain in the new portfolio
This is really some of the best news I've heard in some time!
It's my belief that the downturn in PM prices brought this about. The Mint finally realize the risk of holding inventory with gold at $1k and platinum at $2k. They are still holding 12,000 Platinum Anniversary Sets and probably looking at a lost of $5-6 million if melted.
<< <i>If only those greedy little %$#@(*'s over at USPS would take the hint and cut back their program, I might return to stamp collecting. >>
But then where would I get my " Postal Bears"?
<< <i>It's my belief that the downturn in PM prices brought this about. The Mint finally realize the risk of holding inventory with gold at $1k and platinum at $2k. They are still holding 12,000 Platinum Anniversary Sets and probably looking at a lost of $5-6 million if melted. >>
Not so bad. They could be like... hummm an AIG, Or GM.. or... Just step up to the BIG FED window and ask for a handout..
I would buy whatever you want before the 15th, so you will still have the 30 day return policy on any coins that do not meet your standards. It appears that yopu can only return the sale coins within 7 days if the package was damaged, I dont think that would work for dinged coins that are less than 70. (mix and match?)
The Mint finally realize the risk of holding inventory with gold at $1k and platinum at $2k. They are still holding 12,000 Platinum Anniversary Sets and probably looking at a lost of $5-6 million if melted.
It looks to me like platinum ranged from around 1100 to 1550 in 2007. They sold 18000 or so sets at what, $2000+ per set?
Their loss of $6M pales in comparison to the loss that those who purchased these face: something over $18,000,000. (18,000 x $1,000).
The Mint could have avoided a huge loss here by keeping the mintage of the 2007 Anniversary Reverse Proof Platinum set reasonable -- 10,000 sets.
Better yet, 10,000 reverse proof only.
Someone made a really bad decision in setting a limit of 30,000 and including the regular proof platinum half.
It was a terrible decision- anyone on this board could have told them what the mintage should be. Whoever decided to set the number at 30,000 shows they have no understanding of the market, and deserves to be fired.
<< <i>With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand. >>
Actually I hope not, I like the low mintages. I'm selfish hehehehe
I'm just glad the First Spouse Coins weren't on the discontinued list!!! I'm guessing they can't be discontinued since Congress passed the law telling the US Mint to make them along with the Presidential dollars.
Does anyone think the Mint will also discontinue the Unc fractional Gold Eagles that are available through dealer networks. (The non-w mintmarked ones) I have a 1/10 set going back to 1986 and in a way it would be nice to see this wrap up too.
Does anyone think the Mint will also discontinue the Unc fractional Gold Eagles that are available through dealer networks. (The non-w mintmarked ones) I have a 1/10 set going back to 1986 and in a way it would be nice to see this wrap up too.
It wasn't included in the announcement, though that could be because it wasn't marketed as a collector coin. I don't know the answer but suspect it will continue to be available.
Will the reduction in new mint offerings have a meaningful impact(>5%) on annual submissions for PCGS??
that's an interesting question. I would think that at least some of the $ that would normally go to these discontinued programs would end up in the remaining programs. But I doubt all of it would; some will likely go to things other than coins, and some might be channeled into classics, or coins that are already slabbed. So it seems reasonable to guess that the reduction in offerings would impact PCGS submissions. Not sure what the percentage would be. I guess you'd have to look at what percentage of current submissions is taken up by the newly discontinued programs, and put the number at some percentage of that.
So much for a fast sellout at the mint, I am not seeing any backorders so this news went over with a big yawn it seems. Some seem to think the bullion will have lower prices on Saturday, I am not sure but we will see. I think it is unlikely but then nothing will surprise me anymore.
PS Hoping for sales numbers for last week but nothing yet, i know they sold at least a few coins as I bought some.
I know it is hard to believe but many don't check this message board hourly as reccomended.
Add to that a really, really bad market for stocks and PMs.
Best thing that could happen is for the mint to hold a party and no one show up.
Fire up the smelter........the mint wants their money out of all this product before year end.
Amen!
Those buffalo uncirculated golds look pretty sweet at current sales figures. With this announcement and another month of sales, we could easily see those numbers double (assuming the Mint has enough in stock). Why wait another month? melt now!
<< <i>So much for a fast sellout at the mint, I am not seeing any backorders so this news went over with a big yawn it seems. Some seem to think the bullion will have lower prices on Saturday, I am not sure but we will see. I think it is unlikely but then nothing will surprise me anymore.
PS Hoping for sales numbers for last week but nothing yet, i know they sold at least a few coins as I bought some. >>
Just placed an order yesterday for the 1/10 ounce proof and uncirculated. The proof is in stock and reserved and the uncirculated is on backorder until 11/26.
<< <i>I know it is hard to believe but many don't check this message board hourly as reccomended.
Add to that a really, really bad market for stocks and PMs.
Best thing that could happen is for the mint to hold a party and no one show up.
Fire up the smelter........the mint wants their money out of all this product before year end.
Amen!
Those buffalo uncirculated golds look pretty sweet at current sales figures. With this announcement and another month of sales, we could easily see those numbers double (assuming the Mint has enough in stock). Why wait another month? melt now! >>
<< <i>I know it is hard to believe but many don't check this message board hourly as reccomended.
Add to that a really, really bad market for stocks and PMs.
Best thing that could happen is for the mint to hold a party and no one show up.
Fire up the smelter........the mint wants their money out of all this product before year end.
Amen!
Those buffalo uncirculated golds look pretty sweet at current sales figures. With this announcement and another month of sales, we could easily see those numbers double (assuming the Mint has enough in stock). Why wait another month? melt now! >>
Melt!Melt!Melt!Melt!Melt! >>
We must wait until July of 09 to see any 08s hit the melting pot.
<< <i>We must wait until July of 09 to see any 08s hit the melting pot. >>
I disagree. I belive that statement refers to any 08 coins that are left but not on the list. While the coins not sold will be melted immediatly if not sold by dec. 19th statement is referring to coins on the list.
This "sale" makes no sense to me, unless prices are reduced. What I see available is a bunch of stuff I already didn't want, and bullion that is overpriced. I'm not about to pay $2,225 for a set (1.85 ozs.) of Gold Buffalos, even if it is the last of the Mohicans. That's $1,200 an ounce, with gold barely over $700. Or put another way, you'd be paying almost $900 extra for a fancy box, with $1,350 of gold in it.
The US Mint is a bigger thief than all the TV hucksters combined.
Good deals with: goldman86 mkman123 Wingsrule wondercoin segoja Tccuga OKCC LindeDad and others.
<< <i>We must wait until July of 09 to see any 08s hit the melting pot. >>
I disagree. I belive that statement refers to any 08 coins that are left but not on the list. While the coins not sold will be melted immediatly if not sold by dec. 19th statement is referring to coins on the list. >>
<< <i>This "sale" makes no sense to me, unless prices are reduced. What I see available is a bunch of stuff I already didn't want, and bullion that is overpriced. I'm not about to pay $2,225 for a set (1.85 ozs.) of Gold Buffalos, even if it is the last of the Mohicans. That's $1,200 an ounce, with gold barely over $700. Or put another way, you'd be paying almost $900 extra for a fancy box, with $1,350 of gold in it.
The US Mint is a bigger thief than all the TV hucksters combined. >>
Of course you are correct. However this fact coupled with the dire economic circumstances coupled with the glut of available products is the perfect mixture to create some real modern rarities.
Buy some and hold them. I think whoever buys either the Gold Buffs and Plats will come out winners in the end.
This "sale" makes no sense to me, unless prices are reduced. What I see available is a bunch of stuff I already didn't want, and bullion that is overpriced.
We don't know what the prices will be on November 15, so you should probably reserve judgment til then. Most of the stuff are products people didn't want, which is why we'd expect to see them offered at a discount price. With the discontinued series, like the platinums and Buffalo golds, it's not so much that people don't want them as that the Mint is discontinuing those lines. I can imagine the Mint lowering the price to spur sales; I can also imagine the Mint keeping prices as they are, knowing that sales will continue as people see opportunity among discontinued lines. If the issue price was going to drop to spot, the declaration that unsold product would be melted would almost be meaningless, since of course they would sell all coins in stock if priced at spot. I think the best approach for the Mint would be to leave bullion coins priced as is. If a couple of people decide to opt out because they think the premium is too high, that's their decision. The fact is, the premiums to melt on these coins, platinums anyway, are really not much different than they've been historically. 2004 platinum 4 coin proof sets were priced about the same as the 2008 platinum proofs, when spot was about the same as it is today.
We'll know what the Mint's decision is on pricing in a few days.
Comments
<< <i>Does anyone have a picture of the 1/4 oz buffalos they can share?
>>
Just the proofs and unc-w's are being discontinued?
<< <i>
<< <i>Does anyone have a picture of the 1/4 oz buffalos they can share?
>>
Cr4p! It's not showing here at work! Sigh* I guess I should just go ahead and get one of each PF and UNC.
Man these things are priced high. One PF and one UNC (1/4 oz each) = basically $625 while 1 ounce spot is $749 at the moment, and that's up 12 bucks.
Can't make up my mind if the collector value is close to worth it.
true. current sales figures for $10 buffalos are at 10,000 for proofs and about 8,000 for uncs.
Certainly not as compelling a number as the platinums, but gold is more widely collected and the design is compelling.
Of course, be sure to save some money for these up-and-coming beauties:
<< <i>With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand. >>
Sounds like a long-shot to me, but who knows?
I wonder if the mint will change the design of the buffalo gold coin for next year; as allowed by law.
<< <i>If only those greedy little %$#@(*'s over at USPS would take the hint and cut back their program, I might return to stamp collecting. >>
Man, stamp collections are worthless! I am debating on using mine as postage.
Wonder if the US Mint will offer the remaining 10th anniversary Platinum sets in their sale?
i certainly think it's possible. refocusing the offering is good for everyone. some of the money currently spent on the eliminated programs will be spent on classic coins, or on existing moderns, or on remaining offerings.
I personally think the First Spouse program is over the top. 4 coins a year, in proof and unc. That's 8 coins each year, priced at around $500-600 per. They could just slow the program down, say 2 coins a year instead of 4, and make it easier for people to handle. But at least the First Spouse program has a definite end point- an advantage that offerings like the fractional buffalo golds and platinums didn't have. There is definitely more that the Mint could do to control offerings. But I think today's announcement is a big step in the right direction.
If they have any 2007 platinum anniversary sets left, they should liquidate them. Say $30 over spot.
That was one of the worst conceived offerings in recent memory- a reverse proof $50 (with the $50s historically being the least collected coin), coupled with a regular $50 no one wanted, and served no purpose other than to destroy any hope for the regularly issued 2007 $50s. I don't know how the Mint managed to sell as many as they did.
<< <i>With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand.
But at least the First Spouse program has a definite end point- an advantage that offerings like the fractional buffalo golds and platinums didn't have. . >>
You obviously didn't get the news release about the First Cousins program!
<< <i>With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand.
i certainly think it's possible. refocusing the offering is good for everyone. some of the money currently spent on the eliminated programs will be spent on classic coins, or on existing moderns, or on remaining offerings.
I personally think the First Spouse program is over the top. 4 coins a year, in proof and unc. That's 8 coins each year, priced at around $500-600 per. They could just slow the program down, say 2 coins a year instead of 4, and make it easier for people to handle. But at least the First Spouse program has a definite end point- an advantage that offerings like the fractional buffalo golds and platinums didn't have. There is definitely more that the Mint could do to control offerings. But I think today's announcement is a big step in the right direction. >>
The Mint issues the spouses about the same time each presidential dollar is issued. They issue 4 of those a year so they will continue to issue the 4 spouses. They should cut out the Unc spouses and just issue proof.
The question is what will be the final mintages of these coins and how will they sell next year and in later years.
I'd be happy if they did that.
I wrote a few months ago that the Mint had gone overboard with its offerings, and should cut back. It didn't seem to be a popular opinion; a number of people wrote about "choice" and suggested that if you didn't like a particular coin, you shouldn't buy it.
I think they are wrong. What makes something a collectible is a controlled supply. Every hobby that has gone down the crapper -- stamps and baseball cards come to mind -- the decline happened when the supplier stopped caring about the long term sustainability of the hobby and produced as much as it could, in as many ways as it could, drowning collectors in offering after offering until the only way to survive was to stop collecting. I've been concerned for a few years now that coin collecting was heading down that path, and each year, things were getting worse. 24kt this, reverse proof that... there was no end to what the Mint could dream up.
I am SO pleased and grateful today that the Mint appears to be reversing course.
"We are responding to the collector community which has spoken loudly and clearly," said United States Mint Director Ed Moy. "Customers have told us there are just too many products. We agree, and it's time the United States Mint trims down and concentrates on the products our customers love most."
Thank you!!
Besides giving us loyal collectors a reprieve, it gives a boost to existing collections that can now be completed methodically, and more collectors will finally be allowed to have the satisfaction of having stuck it out.
While I have the utmost admiration for Chief Justice Roberts, I think that the politically-correct interpretation of "A More Perfect Union" is simply wrong. It implies that a racial focus will result in a more perfect union. I believe that the artist's rendition is exactly 100%opposite of the desired and intended effect. A More Perfect Union should NOT focus on the different racial components that make up our country.
I knew it would happen.
<< <i>Mint Director Moy's performance rating has risen in my estimation. He has finally injected some rationality into the Mint's programs.
Besides giving us loyal collectors a reprieve, it gives a boost to existing collections that can now be completed methodically, and more collectors will finally be allowed to have the satisfaction of having stuck it out.
While I have the utmost admiration for Chief Justice Roberts, I think that the politically-correct interpretation of "A More Perfect Union" is simply wrong. It implies that a racial focus will result in a more perfect union. I believe that the artist's rendition is exactly 100%opposite of the desired and intended effect. A More Perfect Union should NOT focus on the different racial components that make up our country. >>
Thank you! No more hyphenated Americans please!
Agreed! A coin showing representative images of these groups, for no purpose other than to generically identify them by gender or race, is offensive.
<< <i>Does anyone have a picture of the 1/4 oz buffalos they can share? >>
Here is my PCSG FS PR70DCAM.
<< <i>The United States Mint relied principally on the number of units sold in determining which products or product lines have been most popular with collectors and other customers. More than 550 individual coin and medal products were evaluated; nearly 200 of those coin and medal products will remain in the new portfolio
This is really some of the best news I've heard in some time!
Seems like many of us agree? >>
<< <i>If only those greedy little %$#@(*'s over at USPS would take the hint and cut back their program, I might return to stamp collecting. >>
But then where would I get my " Postal Bears"?
<< <i>It's my belief that the downturn in PM prices brought this about. The Mint finally realize the risk of holding inventory with gold at $1k and platinum at $2k. They are still holding 12,000 Platinum Anniversary Sets and probably looking at a lost of $5-6 million if melted. >>
Not so bad. They could be like... hummm an AIG, Or GM.. or... Just step up to the BIG FED window and ask for a handout..
This is not a good move.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
<< <i>Next they will be coming for your Gold and Silver IRA's
This is not a good move. >>
Relax Waldo. It was a business decision and nothing more.
It looks to me like platinum ranged from around 1100 to 1550 in 2007. They sold 18000 or so sets at what, $2000+ per set?
Their loss of $6M pales in comparison to the loss that those who purchased these face: something over $18,000,000. (18,000 x $1,000).
The Mint could have avoided a huge loss here by keeping the mintage of the 2007 Anniversary Reverse Proof Platinum set reasonable -- 10,000 sets.
Better yet, 10,000 reverse proof only.
Someone made a really bad decision in setting a limit of 30,000 and including the regular proof platinum half.
It was a terrible decision- anyone on this board could have told them what the mintage should be. Whoever decided to set the number at 30,000 shows they have no understanding of the market, and deserves to be fired.
<< <i>With fewer products being offered in 2009 and beyond, perhaps the First Spouse coins will see more demand. >>
Actually I hope not, I like the low mintages. I'm selfish
I'm just glad the First Spouse Coins weren't on the discontinued list!!! I'm guessing they can't be discontinued since Congress passed the law telling the US Mint to make them along with the Presidential dollars.
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
It wasn't included in the announcement, though that could be because it wasn't marketed as a collector coin. I don't know the answer but suspect it will continue to be available.
I suspect the fractional platinum bullion coins will also continue to be offered.
My Adolph A. Weinman signature
that's an interesting question. I would think that at least some of the $ that would normally go to these discontinued programs would end up in the remaining programs. But I doubt all of it would; some will likely go to things other than coins, and some might be channeled into classics, or coins that are already slabbed. So it seems reasonable to guess that the reduction in offerings would impact PCGS submissions. Not sure what the percentage would be. I guess you'd have to look at what percentage of current submissions is taken up by the newly discontinued programs, and put the number at some percentage of that.
PS Hoping for sales numbers for last week but nothing yet, i know they sold at least a few coins as I bought some.
well, on the platinums, most of us jumped in as hard as we wanted to/could when sales reopened Oct. 17.
It would take some pretty deep pockets to buy up remaining inventory, even if was just a couple hundred sets.
The other thing people seem most excited about are the buffalo golds, but again, we don't have any idea what was minted there.
<< <i>I am not seeing any backorders so this news went over with a big yawn it seems
well, on the platinums, most of us jumped in as hard as we wanted to/could when sales reopened Oct. 17.
It would take some pretty deep pockets to buy up remaining inventory, even if was just a couple hundred sets.
The other thing people seem most excited about are the buffalo golds, but again, we don't have any idea what was minted there. >>
I'm thinking the Buff golds will be available in the sale and probably after the sale.
I know it is hard to believe but many don't check this message board hourly as reccomended.
Add to that a really, really bad market for stocks and PMs.
Best thing that could happen is for the mint to hold a party and no one show up.
Fire up the smelter........the mint wants their money out of all this product before year end.
They don't want to have to show just how much they have lost on their PM inventory.
They have almost certainly looked at the accounting consequences of this sale.
Maybe someone with accounting expertise could chime in............
Don't forget they issue a yearly P&L statement just like most businesses.
They want it to look good!
Add to that a really, really bad market for stocks and PMs.
Best thing that could happen is for the mint to hold a party and no one show up.
Fire up the smelter........the mint wants their money out of all this product before year end.
Amen!
Those buffalo uncirculated golds look pretty sweet at current sales figures. With this announcement and another month of sales, we could easily see those numbers double (assuming the Mint has enough in stock). Why wait another month? melt now!
<< <i>So much for a fast sellout at the mint, I am not seeing any backorders so this news went over with a big yawn it seems. Some seem to think the bullion will have lower prices on Saturday, I am not sure but we will see. I think it is unlikely but then nothing will surprise me anymore.
PS Hoping for sales numbers for last week but nothing yet, i know they sold at least a few coins as I bought some.
Just placed an order yesterday for the 1/10 ounce proof and uncirculated. The proof is in stock and reserved and the uncirculated is on backorder until 11/26.
<< <i>I know it is hard to believe but many don't check this message board hourly as reccomended.
Add to that a really, really bad market for stocks and PMs.
Best thing that could happen is for the mint to hold a party and no one show up.
Fire up the smelter........the mint wants their money out of all this product before year end.
Amen!
Those buffalo uncirculated golds look pretty sweet at current sales figures. With this announcement and another month of sales, we could easily see those numbers double (assuming the Mint has enough in stock). Why wait another month? melt now! >>
Melt!Melt!Melt!Melt!Melt!
<< <i>
<< <i>I know it is hard to believe but many don't check this message board hourly as reccomended.
Add to that a really, really bad market for stocks and PMs.
Best thing that could happen is for the mint to hold a party and no one show up.
Fire up the smelter........the mint wants their money out of all this product before year end.
Amen!
Those buffalo uncirculated golds look pretty sweet at current sales figures. With this announcement and another month of sales, we could easily see those numbers double (assuming the Mint has enough in stock). Why wait another month? melt now! >>
Melt!Melt!Melt!Melt!Melt!
We must wait until July of 09 to see any 08s hit the melting pot.
<< <i>We must wait until July of 09 to see any 08s hit the melting pot. >>
I disagree. I belive that statement refers to any 08 coins that are left but not on the list. While the coins not sold will be melted immediatly if not sold by dec. 19th statement is referring to coins on the list.
The US Mint is a bigger thief than all the TV hucksters combined.
my early American coins & currency: -- http://yankeedoodlecoins.com/
<< <i>
<< <i>We must wait until July of 09 to see any 08s hit the melting pot. >>
I disagree. I belive that statement refers to any 08 coins that are left but not on the list. While the coins not sold will be melted immediatly if not sold by dec. 19th statement is referring to coins on the list. >>
<< <i>This "sale" makes no sense to me, unless prices are reduced. What I see available is a bunch of stuff I already didn't want, and bullion that is overpriced. I'm not about to pay $2,225 for a set (1.85 ozs.) of Gold Buffalos, even if it is the last of the Mohicans. That's $1,200 an ounce, with gold barely over $700. Or put another way, you'd be paying almost $900 extra for a fancy box, with $1,350 of gold in it.
The US Mint is a bigger thief than all the TV hucksters combined. >>
Of course you are correct. However this fact coupled with the dire economic circumstances coupled with the glut of available products is the perfect mixture to create some real modern rarities.
Buy some and hold them. I think whoever buys either the Gold Buffs and Plats will come out winners in the end.
We don't know what the prices will be on November 15, so you should probably reserve judgment til then. Most of the stuff are products people didn't want, which is why we'd expect to see them offered at a discount price. With the discontinued series, like the platinums and Buffalo golds, it's not so much that people don't want them as that the Mint is discontinuing those lines. I can imagine the Mint lowering the price to spur sales; I can also imagine the Mint keeping prices as they are, knowing that sales will continue as people see opportunity among discontinued lines. If the issue price was going to drop to spot, the declaration that unsold product would be melted would almost be meaningless, since of course they would sell all coins in stock if priced at spot. I think the best approach for the Mint would be to leave bullion coins priced as is. If a couple of people decide to opt out because they think the premium is too high, that's their decision. The fact is, the premiums to melt on these coins, platinums anyway, are really not much different than they've been historically. 2004 platinum 4 coin proof sets were priced about the same as the 2008 platinum proofs, when spot was about the same as it is today.
We'll know what the Mint's decision is on pricing in a few days.