so much for my guess of around 3200. i just cannot get over how much money people are willing to risk on ebay purchases when you are not even sure it is the special version of the coin!
sure i can see a couple thousand as the risk to reward ratio is looking pretty good.. but once you get past 4000 grand it starts declining rapidly as i do not think if the coin was put up for auction as a 66 it would easily fetch a lot of money. Even a 67 seems risky to make an easy flip for profit.
And if you have 5000+ dollars to spend you could just simply wait for a slabbed one. Mainly because i would want to see the reverse and in the original packaging you cannot even see that.
"... I haven't responded to e-mails that didn't ask a question because I have received so may about this coin. ..." >>
Jeez! You guys are shameless! Raise your hand if you emailed him an offer! >>
I have not contacted the seller, but am curious to know if a certain question was answered regarding specific issues previously noted in this thread about the coin.
I'd be guessing the story might make two people really happy in the end. But, that's yet to be seen.
if they did we will hear about it if and when it turns out to the pattern and it slabs MS 69 and they post the pictures. If it is a circulation strike the only way we will know is when it is relisted on Ebay.
I have done some calling around, and nobody knows of any more duds. However, the total population known is now up around 75 good ones, so four out of 79 is more like 5%, not 10%
Tom - One more question. How closely have you studied the "duds"? Is it possible that they are some other prototype? (OK, I guess that's two questions, not one.) I ask because my vague recollection is that the final version was not supposed to exist at the time the Cheerios dollars were shipped to General Mills. Or do I have my chronology wrong? (OK, make it three questions.)
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i> I have done some calling around, and nobody knows of any more duds. However, the total population known is now up around 75 good ones, so four out of 79 is more like 5%, not 10%
Tom - One more question. How closely have you studied the "duds"? Is it possible that they are some other prototype? (OK, I guess that's two questions, not one.) I ask because my vague recollection is that the final version was not supposed to exist at the time the Cheerios dollars were shipped to General Mills. Or do I have my chronology wrong? (OK, make it three questions.) >>
I have seen one of the duds in a major TPG slab, that they removed from the original holder. Normal design, struck from very well-worn dies.
The mint shipped the prototype coins in October 1999, before the final design was ready. Nobody can provide any documentation as to how many were shipped, but I would bet that it was the 5,500 pieces that General Mills was required by law to distribute according to the contest rules already printed on 10,000,000+ packages.
I am guessing that General Mills found some rejects in the original shipment (possibly spotting, which would plague the regular issues), and requested some additional coins so that they could finish the packaging. After all, it may have taken them several weeks to package that many boxes with coins (mostly just cents) in them. The Mint didn't care which design it shipped, so they just sent some regular issues which were already being mass produced in November.
Of course, we will never know what happened to the rejects. They were probably returned to the Mint, which either threw them into regular coins being distributed or melted them.
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.
Nobody can provide any documentation as to how many were shipped
Of course, we will never know what happened to the rejects. They were probably returned to the Mint, which either threw them into regular coins being distributed or melted them.
Has anyone ever tried making contact with General Mills regarding the shipment and production of these? I would be curious to know if they have any information.
<< <i> Nobody can provide any documentation as to how many were shipped
Of course, we will never know what happened to the rejects. They were probably returned to the Mint, which either threw them into regular coins being distributed or melted them.
Has anyone ever tried making contact with General Mills regarding the shipment and production of these? I would be curious to know if they have any information. >>
Yes, years ago. THey said they had no records of promotions that far back. 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.
I contacted General Mills a couple years ago, too. I got an email from them saying they had no records, only recollections of the millennium cents. The lady I spoke with didn't even hear of the dollars being inserted in the mix.
and somewhere out there (mint site? treasury site?) is a FOIA provided copy of the contract if I recall correctly. If it's not out there, it can be requested.
Comments
<< <i>The seller responded to my advice with
"... I haven't responded to e-mails that didn't ask a question because I have received so may about this coin. ..." >>
Jeez! You guys are shameless! Raise your hand if you emailed him an offer!
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
Best Franklin Website
I needed to hear him say he had no idea what the coin was!
I'm afraid that this one is going to go beyond Moon money. More like Mars or Jupitar money!
The name is LEE!
money people are willing to risk on ebay purchases when you are not
even sure it is the special version of the coin!
sure i can see a couple thousand as the risk to reward ratio is looking
pretty good.. but once you get past 4000 grand it starts declining rapidly
as i do not think if the coin was put up for auction as a 66 it would
easily fetch a lot of money. Even a 67 seems risky to make an easy
flip for profit.
And if you have 5000+ dollars to spend you could just simply wait for
a slabbed one. Mainly because i would want to see the reverse and
in the original packaging you cannot even see that.
<< <i>
<< <i>The seller responded to my advice with
"... I haven't responded to e-mails that didn't ask a question because I have received so may about this coin. ..." >>
Jeez! You guys are shameless! Raise your hand if you emailed him an offer!
I have not contacted the seller, but am curious to know if a certain question was answered regarding specific issues previously noted in this thread about the coin.
I'd be guessing the story might make two people really happy in the end. But, that's yet to be seen.
``https://ebay.us/m/KxolR5
Winning bid: US $5,725.00
BST Transactions: DonnyJf, MrOrganic, Justanothercoinaddict, Fivecents, Slq, Jdimmick,
Robb, Tee135, Ibzman350, Mercfan, Outhaul, Erickso1, Cugamongacoins, Indiananationals, Wayne Herndon
Negative BST Transactions:
Winning bid: US $5,725.00 >>
if they did we will hear about it if and when it turns out to the pattern and it slabs MS 69 and they post the pictures. If it is a circulation strike the only way we will know is when it is relisted on Ebay.
.......Come on....man up...which one of you pulled the trigger.....
The name is LEE!
Whatever you are, be a good one. ---- Abraham Lincoln
<< <i>Not a bad profit for something pulled from a cereal box and tossed in the sock drawer for 9 years ... >>
Ditto! Now who got it???
Sugar magnolia blossoms blooming, heads all empty and I don't care ...
<< <i>Not a bad profit for something pulled from a cereal box and tossed in the sock drawer for 9 years ... >>
Hopefully, everything works out for the buyer AND the seller and hopefully, its the pattern piece.
The name is LEE!
Tom - One more question. How closely have you studied the "duds"? Is it possible that they are some other prototype? (OK, I guess that's two questions, not one.) I ask because my vague recollection is that the final version was not supposed to exist at the time the Cheerios dollars were shipped to General Mills. Or do I have my chronology wrong? (OK, make it three questions.)
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
<< <i> I have done some calling around, and nobody knows of any more duds. However, the total population known is now up around 75 good ones, so four out of 79 is more like 5%, not 10%
Tom - One more question. How closely have you studied the "duds"? Is it possible that they are some other prototype? (OK, I guess that's two questions, not one.) I ask because my vague recollection is that the final version was not supposed to exist at the time the Cheerios dollars were shipped to General Mills. Or do I have my chronology wrong? (OK, make it three questions.) >>
I have seen one of the duds in a major TPG slab, that they removed from the original holder. Normal design, struck from very well-worn dies.
The mint shipped the prototype coins in October 1999, before the final design was ready. Nobody can provide any documentation as to how many were shipped, but I would bet that it was the 5,500 pieces that General Mills was required by law to distribute according to the contest rules already printed on 10,000,000+ packages.
I am guessing that General Mills found some rejects in the original shipment (possibly spotting, which would plague the regular issues), and requested some additional coins so that they could finish the packaging. After all, it may have taken them several weeks to package that many boxes with coins (mostly just cents) in them. The Mint didn't care which design it shipped, so they just sent some regular issues which were already being mass produced in November.
Of course, we will never know what happened to the rejects. They were probably returned to the Mint, which either threw them into regular coins being distributed or melted them.
TD
Too bad. And you're probably right about the spotting. I'd guess that 15% of the Cheerios Dollars I've seen have significant spotting issues.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Of course, we will never know what happened to the rejects. They were probably returned to the Mint, which either threw them into regular coins being distributed or melted them.
Has anyone ever tried making contact with General Mills regarding the shipment and production of these? I would be curious to know if they have any information.
<< <i> Nobody can provide any documentation as to how many were shipped
Of course, we will never know what happened to the rejects. They were probably returned to the Mint, which either threw them into regular coins being distributed or melted them.
Has anyone ever tried making contact with General Mills regarding the shipment and production of these? I would be curious to know if they have any information. >>
Yes, years ago. THey said they had no records of promotions that far back.
TD
``https://ebay.us/m/KxolR5
Public awareness was
also raised through the General Mills agreement that put 11 million boxes of Cheerios -- of
which 1 out of 2,000 contained Golden Dollars -- on the shelves of grocers’ across the country.
and somewhere out there (mint site? treasury site?) is a FOIA provided copy of the contract if I recall correctly. If it's not out there, it can be requested.
{which is why sealing the dollar in a regular box of cheerios for a "first strike" is also non-sensical}