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Why are AGE proofs $550-600 over spot????

2manycoins2fewfunds2manycoins2fewfunds Posts: 3,081 ✭✭✭
in U.S. Coin Forum
and what will happen when US Mint starts production again??

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    segojasegoja Posts: 6,141 ✭✭✭✭
    The mint will sell out quickly, but will also limit the amount you can buy so you won't be able to retire just yet.
    JMSCoins Website Link


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    Finest Toned Ike I've Ever Seen, been looking since 1986

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    MilesWaitsMilesWaits Posts: 5,566 ✭✭✭✭✭
    Cause when and if the Mint starts production again, the new pricing will insure they are nearly that above spot.

    The market is catching up with mint pricing, even on the UHR's, so far anyway............

    Miles
    Now riding the swell in PM's and surf.
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    joz350joz350 Posts: 185 ✭
    Do most folks think there will be a limit when or if they are released?
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    roadrunnerroadrunner Posts: 28,374 ✭✭✭✭✭
    Promotions.....think HSN, QVC, newspapers, or wherever else Telemarketers swim.

    One could also ask why MS62-MS65 Saints bring the premiums to melt that they do. There are about 1 MILLION of them slabbed (including resubmissions) with many more in the wings to be graded someday. The total mintages for the Proof $50 eagles is under 1.5 MILL I believe. And they are impressive looking coins of the highest quality. Basically they do not exist in unlimited quantity, at least not yet. Also allowed in IRA's as well. If you toss out the 1986 and a couple years after that, they have fairly low mintages even if every example is PF68-70.

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    keetskeets Posts: 25,351 ✭✭✭✭✭
    as RR said, there is some type of promotion(s) currently taking place that has all the sellers in the system scrambling to get them.
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    segojasegoja Posts: 6,141 ✭✭✭✭
    IRA's
    JMSCoins Website Link


    Ike Specialist

    Finest Toned Ike I've Ever Seen, been looking since 1986

    image
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    2manycoins2fewfunds2manycoins2fewfunds Posts: 3,081 ✭✭✭
    Well it is very odd and will likely end badly.

    I've seen many years when they traded 2-5% above spot.

    I just don't understand the 50-60% premium that has lately appeared.
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    keetskeets Posts: 25,351 ✭✭✭✭✭
    this is all the result of the rising/falling/rising PM's and the way they distort the marketplace.
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    jdimmickjdimmick Posts: 9,943 ✭✭✭✭✭
    IRA accounts need orders filled, tht is the only reason for the strong buying price on AGE and ASE proofs, after the mint releases this years product, expect premiums to fall quite a bit!!

    Jim
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    coasterfancoasterfan Posts: 1,302 ✭
    Is the box and COA required for an IRA? I notice the best prices are for coins in OGP with COA. Slabbed PR69 are a step below that in price.
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    CaptHenwayCaptHenway Posts: 33,875 ✭✭✭✭✭


    << <i>Is the box and COA required for an IRA? I notice the best prices are for coins in OGP with COA. Slabbed PR69 are a step below that in price. >>



    Yes. The product has to be uniform, and OGP/box/cert is the standard.
    TD
    Numismatist. 54 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Also won the PNG's Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.

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