Maybe the 7-day return policy for bullion items will be in effect when they ship. That will cut off many speculators and lower handling costs for the mint, and ultimately the consumer.
I'm not sure why I still read NN. The quality of the writing is quite poor at times.
From the article... "By the end of the day, collectors were e-mailing Numismatic News with reports that they had successfully purchased the coin at the issue price of $1,189 each, with confirmed delivery by Feb. 6."
-Confirmed delivery? The Mint NEVER guarantees or confirms anything. All they were stating was "Expected Ship Date of 2/6". Confirmed, ha!
During the first four days of sales, the Mint said it sold 40,727 of the coins, generating $48.4 million in revenue by noon Jan. 26.
-Maybe an accounting type can help me out here, but have you really generated the revenue when you can't fulfill the orders yet? The Mint doesn't charge your CC-- and IMO, can't generate the revenue-- until they can fulfill your order. They've already said it could take 6-9 months to ship them all.
The gold coin's price changes each week to take into account the fluctuating price of gold. The second week's price was $1,239, effective Jan. 29.
-While the price CAN change each week, NN helps add to confusion about the pricing policy by stating a fact that the price DOES change each week.
I know these might be little things, but it's indicative of the overall quality of NN that I've noticed IMHO. And yet, I'm a subscriber.
EDITED TO ADD: Before I get flamed by somebody, I should add that it's not all bad. I just read the article that R.W. Julian wrote about the Early Mint and the different weight standards and fineness ratios on early silver dollars, etc. Great article!
<< <i>"It might strike up to 300,000 of the coins if collector orders reach that level." >>
Even at 40,000 that makes my 2007 platinum reverse proof set look like a great investment. >>
It's supply AND DEMAND. Do you think the demand for your coin is even close to the demand for the UHR?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>The mint limiting the coin to one per household probably dropped sales by 75%. I think from a sales perspective they lost a lot of revenue. >>
That assumes they are going to be shipped - in their entirety - I have some doubts all orders will be filled regardless of the backordered "confirmed" dates and the assurances to produce the necessary materials.
Eariler the better on order numbers and the first to receive will be the King in the Land of the Blind-Sided!
I do not believe 40k coins ordered = I don' t see there being that many collectors or even flippers in this economy. Who wants to bet they will not have delivered this many from the first four days?
Love that Milled British (1830-1960) Well, just Love coins, period.
<< <i>I do not believe 40k coins ordered = I don' t see there being that many collectors or even flippers in this economy. Who wants to bet they will not have delivered this many from the first four days? >>
It looks as if all orders are being moved back as we speak.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>"It might strike up to 300,000 of the coins if collector orders reach that level." >>
Even at 40,000 that makes my 2007 platinum reverse proof set look like a great investment. >>
It's supply AND DEMAND. Do you think the demand for your coin is even close to the demand for the UHR? >>
I was being sarcastic. Neither one is a great investment. In both cases, the Mint has, or will, produce as many as the market will bear. If, during the next eleven months, the price of gold bullion drops while eBay is flooded by the flippers, people buying these now will lose as much money as I have buying that reverse proof set. That's why I canceled my order. If I'm right, I'll get one cheaply.
I've come to realize that the Mint is the equivalent of a Ponzi scheme. The Mint makes the most money, the TPGs second, and the earliest flippers third. Everybody else loses.
Ask me about my 2006 Buffaloes.
Good deals with: goldman86 mkman123 Wingsrule wondercoin segoja Tccuga OKCC LindeDad and others.
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Im going to keep mine! It's gotta get here first?
The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Keepers!
"Please help us keep these boards professional and informative…. And fun." - DW --------------------------------------------------------------------------------------------------------------------------------------- BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
Two dealers in this area just bought one with the hope of maybe making a $100 or at least just having one. Their concern is if gold falls and they have a supply of these then they will need to compete with the mint and the new issue price.
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Im going to keep mine! It's gotta get here first? >>
that's great, i hope someone in my club gets one so i can see it up close.
I don't think demand will be for 300 K, not in this economy. It also depends if they can acquire that many blanks. With the 300K 2006 Gold Buffalo Proofs, the economy was in better shape than it is today. Doesn't really matter to me, mine is for keeps and it will be kept raw for my collection.
40,000 coins....well, that's the same as AGE one ounce proofs from 1992W through 1995W. So what does this mean...I don't know. If you like it keep it. I think once it's in "hand" this coin may be akin to the 2001 Buffalo silver dollar...a high mintage coin that keeps going up in value.
Then again, with $2,000 per ounce predictions by the end of the year why not keep the little bugger. We are nearly half way there. A few more trillion-dollar-pork-spending-emergency bills and the $1,189 entrance fee will seem cheap.
<< <i>is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
There's a lot of frustration evident, over on the "Official" thread as status changes from "In Stock" to "Backordered," and as shipping dates move forward. Looks like at least some posts are from potential flippers, or maybe first strikers, afraid of losing out. Otherwise, why all the concern over a slight delay to get a coin that one really plans on keeping forever?
Good deals with: goldman86 mkman123 Wingsrule wondercoin segoja Tccuga OKCC LindeDad and others.
Sure starting to look like the Mint does not have many, if any, of these on hand and are truly minting to demand. Either that, or they are waiting to receive the books so they can ship together.
On the other post, estimates were that there were probably around 4000 already minted.... and the hopes were those would be shipped fast, giving those lucky individuals the perhaps only chance for the First Strike label. But as each day goes by, that likelihood lessens. More of these are probably being minted each day, so when the shipping begins, many more may be sent out. Making the First Strike eligible population much larger and therefore less valuable for the flippers.
The US Mint just cannot be reliably predicted as to what they will do.
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Brother, I ain't sellin'. I ordered one and had a friend order one for me. I think they are the best lookin' (modern) coin that the mint has ever produced.
When ol' curly checks out of this motel, they are going to my two curlyettes. Not everything around here is about the money.
Of course now, if Mrs curly should run off with a dobro picker all bets are off.
<< <i>Brother, I ain't sellin'. I ordered one and had a friend order one for me. I think they are the best lookin' (modern) coin that the mint has ever produced. >>
I'm with you .... old timer...
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>According to "reliable" sources .. sales have dropped to almost nothing since the initial assault. >>
That would be a real positive for the 40,000 purchasers. It would be interesting to see if by December the number of orders stays under 100,000 how many would then be eniticed to try to grab one due to the low mintage.
As above, I do not see there being 40k individual units sold to single purchasers. A decimal place off with only 1/10 that many sold in that short a time would still be a good sales number.
Love that Milled British (1830-1960) Well, just Love coins, period.
OK so 20 billion sold 14 billion swallowed and sill only 16 digested!
Regards, John
Need the following OBW rolls to complete my 46-64 Roosevelt roll set: 1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S. Any help locating any of these OBW rolls would be gratefully appreciated!
Some of you guys me. This is a keeper. The first time you will have a chance at a Gold Bullion coin that is struck like none other.
Yes it's a spin off of the early type coin over 80 years ago. But this should be part of ones collection. Remember more GOLD and .999 pure.
Flipping this will bring you a few hundred now, but saving it and cherishing it in your collection is another thing.
Anyone want to buy my 1995w NGC 70 ASE? It's not for sale and yes it's a 70 no doubt.
Again,it's a keeper and so what if they sell 50,000. I really don't think the final mintage will exceed that after all of the returns. It's not a good time now in this world for many to chalk up a grand+ for anything.
<< <i>Some of you guys me. This is a keeper. The first time you will have a chance at a Gold Bullion coin that is struck like none other.
Yes it's a spin off of the early type coin over 80 years ago. But this should be part of ones collection. Remember more GOLD and .999 pure.
Flipping this will bring you a few hundred now, but saving it and cherishing it in your collection is another thing.
Anyone want to buy my 1995w NGC 70 ASE? It's not for sale and yes it's a 70 no doubt.
Again,it's a keeper and so what if they sell 50,000. I really don't think the final mintage will exceed that after all of the returns. It's not a good time now in this world for many to chalk up a grand+ for anything.
JMHO if you see fit. >>
Another way to look at it is that even the 1907 High Relief was gold bullion in 1907.
Comments
<< <i>And the 39,000 that the buyer's don't think will get a "70" will end up being returned.
True ... but you can't return something that you don't have in the first place...
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
-------------------------
<< <i>I still think this is going to amount to a piece of modern bullion when all is said and done. >>
For resale value, perhaps, but for the "eye of the beholder".. never. I saw the prototypes at the Baltimore ANA...
Get the extra virgin cold press designation and you're golden. Anything else is rendered lard. Why bother?
--Severian the Lame
From the article...
"By the end of the day, collectors were e-mailing Numismatic News with reports
that they had successfully purchased the coin at the issue price of $1,189 each,
with confirmed delivery by Feb. 6."
-Confirmed delivery? The Mint NEVER guarantees or confirms anything. All they
were stating was "Expected Ship Date of 2/6". Confirmed, ha!
During the first four days of sales, the Mint said it sold 40,727 of the coins,
generating $48.4 million in revenue by noon Jan. 26.
-Maybe an accounting type can help me out here, but have you really generated
the revenue when you can't fulfill the orders yet? The Mint doesn't charge your CC--
and IMO, can't generate the revenue-- until they can fulfill your order. They've
already said it could take 6-9 months to ship them all.
The gold coin's price changes each week to take into account the fluctuating
price of gold. The second week's price was $1,239, effective Jan. 29.
-While the price CAN change each week, NN helps add to confusion about the
pricing policy by stating a fact that the price DOES change each week.
I know these might be little things, but it's indicative of the overall quality of NN
that I've noticed IMHO. And yet, I'm a subscriber.
EDITED TO ADD: Before I get flamed by somebody, I should add that it's not all bad.
I just read the article that R.W. Julian wrote about the Early Mint and the different
weight standards and fineness ratios on early silver dollars, etc. Great article!
commoncents123, JrGMan2004, Coll3ctor (2), Dabigkahuna, BAJJERFAN, Boom, GRANDAM, newsman, cohodk, kklambo, seateddime, ajia, mirabela, Weather11am, keepdachange, gsa1fan, cone10
-------------------------
<< <i>"It might strike up to 300,000 of the coins if collector orders reach that level." >>
my early American coins & currency: -- http://yankeedoodlecoins.com/
<< <i>
<< <i>"It might strike up to 300,000 of the coins if collector orders reach that level." >>
It's supply AND DEMAND. Do you think the demand for your coin is even close to the demand for the UHR?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>I still think this is going to amount to a piece of modern bullion when all is said and done. >>
That's all it ever was to begin with.
Very pretty piece, but not for me.
<< <i>It's supply AND DEMAND. Do you think the demand for your coin is even close to the demand for the UHR? >>
You hit the nail on the head with that statement.... Not many collectors for that expensive "silver" looking coin.
<< <i>I still think this is going to amount to a piece of modern bullion when all is said and done. >>
Yeah but still a REALLY neat piece of modern bullion
<< <i>The mint limiting the coin to one per household probably dropped sales by 75%. I think from a sales perspective they lost a lot of revenue. >>
That assumes they are going to be shipped - in their entirety - I have some doubts all orders will be filled regardless of the backordered "confirmed" dates and the assurances to produce the necessary materials.
Eariler the better on order numbers and the first to receive will be the King in the Land of the Blind-Sided!
Miles
"During the first four days of sales, the Mint said it sold 40,727 of the coins"
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Well, just Love coins, period.
<< <i>I do not believe 40k coins ordered = I don' t see there being that many collectors or even flippers in this economy. Who wants to bet they will not have delivered this many from the first four days? >>
It looks as if all orders are being moved back as we speak.
<< <i>
<< <i>
<< <i>"It might strike up to 300,000 of the coins if collector orders reach that level." >>
It's supply AND DEMAND. Do you think the demand for your coin is even close to the demand for the UHR? >>
I was being sarcastic. Neither one is a great investment. In both cases, the Mint has, or will, produce as many as the market will bear. If, during the next eleven months, the price of gold bullion drops while eBay is flooded by the flippers, people buying these now will lose as much money as I have buying that reverse proof set. That's why I canceled my order. If I'm right, I'll get one cheaply.
I've come to realize that the Mint is the equivalent of a Ponzi scheme. The Mint makes the most money, the TPGs second, and the earliest flippers third. Everybody else loses.
Ask me about my 2006 Buffaloes.
my early American coins & currency: -- http://yankeedoodlecoins.com/
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ?
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Im going to keep mine! It's gotta get here first?
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Keepers!
---------------------------------------------------------------------------------------------------------------------------------------
BONGO HURTLES ALONG THE RAIN SODDEN HIGHWAY OF LIFE ON UNDERINFLATED BALD RETREAD TIRES
"It might strike up to 300,000 of the coins if collector orders reach that level."
Ummm.... anyone care to wager that if they can get the blanks and if they lift the limit, the mintage will be 400K or greater?
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Im going to keep mine! It's gotta get here first? >>
that's great, i hope someone in my club gets one so i can see it up close.
Box of 20
Then again, with $2,000 per ounce predictions by the end of the year why not keep the little bugger. We are nearly half way there. A few more trillion-dollar-pork-spending-emergency bills and the $1,189 entrance fee will seem cheap.
I think I will keep mine.
Ren(UHR)
<< <i>With a 1 per household limit I just don't see how it's even possible. In this economy, 40k $1000+ coins....really?? >>
You're forgetting about plastic money, lots of folks don't think they are spending using it.
<< <i>is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
There's a lot of frustration evident, over on the "Official" thread as status changes from "In Stock" to "Backordered," and as shipping dates move forward. Looks like at least some posts are from potential flippers, or maybe first strikers, afraid of losing out. Otherwise, why all the concern over a slight delay to get a coin that one really plans on keeping forever?
my early American coins & currency: -- http://yankeedoodlecoins.com/
On the other post, estimates were that there were probably around 4000 already minted.... and the hopes were those would be shipped fast, giving those lucky individuals the perhaps only chance for the First Strike label. But as each day goes by, that likelihood lessens. More of these are probably being minted each day, so when the shipping begins, many more may be sent out. Making the First Strike eligible population much larger and therefore less valuable for the flippers.
The US Mint just cannot be reliably predicted as to what they will do.
<< <i>you know its funny, i did not buy my 2008 proof buffalo or my 2008w buffalo ms ,banking on the mintage game. or the fliping game,just love the coins.
While the UHR is not my thing and perfer the reg. ones.
is anyone here buying the coin to keep it or is everyone looking to flip it ? >>
Brother, I ain't sellin'. I ordered one and had a friend order one for me. I think they are the best lookin' (modern) coin that the mint has ever produced.
When ol' curly checks out of this motel, they are going to my two curlyettes. Not everything around here is about the money.
Of course now, if Mrs curly should run off with a dobro picker all bets are off.
Ever Onward
<< <i>Brother, I ain't sellin'. I ordered one and had a friend order one for me. I think they are the best lookin' (modern) coin that the mint has ever produced. >>
I'm with you .... old timer...
<< <i>According to "reliable" sources .. sales have dropped to almost nothing since the initial assault. >>
That would be a real positive for the 40,000 purchasers. It would be interesting to see if by December the number of orders stays under 100,000 how many would then be eniticed to try to grab one due to the low mintage.
sold, 6 billion swallowed, 16 digested.
Camelot
<< <i>Those numbers remind me of McDs. 8 billion hamburgers
sold, 6 billion swallowed, 16 digested. >>
If this link is to be believed, looks like it is now 20 Billion.20 billion and counting
Well, just Love coins, period.
Regards, John
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
Yes it's a spin off of the early type coin over 80 years ago. But this should be part of ones collection. Remember more GOLD and .999 pure.
Flipping this will bring you a few hundred now, but saving it and cherishing it in your collection is another thing.
Anyone want to buy my 1995w NGC 70 ASE? It's not for sale and yes it's a 70 no doubt.
Again,it's a keeper and so what if they sell 50,000. I really don't think the final mintage will exceed that after all of the returns. It's not a good time now in this world for many to chalk up a grand+ for anything.
JMHO if you see fit.
<< <i>Some of you guys
Yes it's a spin off of the early type coin over 80 years ago. But this should be part of ones collection. Remember more GOLD and .999 pure.
Flipping this will bring you a few hundred now, but saving it and cherishing it in your collection is another thing.
Anyone want to buy my 1995w NGC 70 ASE? It's not for sale and yes it's a 70 no doubt.
Again,it's a keeper and so what if they sell 50,000. I really don't think the final mintage will exceed that after all of the returns. It's not a good time now in this world for many to chalk up a grand+ for anything.
JMHO if you see fit. >>
Another way to look at it is that even the 1907 High Relief was gold bullion in 1907.