Has anyone reneged on their agreement to sell their 25th Anniversary sets for $400 or less...

RYK · November 10, 2011 3:44AM

...yet?

Have any of the major buyers increased their payment even with a commitment at a lower level...yet?

droopyd · November 10, 2011 3:51AM

<< Have any of the major buyers increased their payment even with a commitment at a lower level...yet? >>

If they're smart and if they want the sets, they will.

dragon · November 10, 2011 3:55AM

<< ...yet?

Have any of the major buyers increased their payment even with a commitment at a lower level...yet? >>

APMEX is still showing they're paying $425.00 per set

bluelobster · November 10, 2011 4:01AM

From reading the BST it seems clear it has happened quite a few times.

My take is, , while I have no special sentiment for the big buyers at all, if someone made a deal to sell and actually got the sets and now is reneging, not going to say they are bad people or give some moralistic judgement, but they are definitely not anyone I would want to do business with.

smirkingchamp · November 10, 2011 4:11AM

Name sounds familiar, APMEX, hmmmm. Oh yea, BBBBBBBwwwwhhaaaaaaaaaaaaaaaaa.

coasterfan · November 10, 2011 4:13AM

<< 

<< ...yet?

Have any of the major buyers increased their payment even with a commitment at a lower level...yet? >>

APMEX is still showing they're paying $425.00 per set

>>

I'm really curious how many sets APMEX gets at that price. There are some who don't want to go through the hassle of selling on ebay, and don't know of other options. We'll know when they eventually start selling sets.

Hyperion · November 10, 2011 4:33AM

<< 

<< 

<< ...yet?

Have any of the major buyers increased their payment even with a commitment at a lower level...yet? >>

APMEX is still showing they're paying $425.00 per set

>>

I'm really curious how many sets APMEX gets at that price. There are some who don't want to go through the hassle of selling on ebay, and don't know of other options. We'll know when they eventually start selling sets. >>

the bulk of the money made in the numismatic industry is on ignorance, laziness, convenience, stale information and other time specific factors.

boucharda · November 10, 2011 5:14AM

<< Name sounds familiar, APMEX, hmmmm. Oh yea, BBBBBBBwwwwhhaaaaaaaaaaaaaaaaa. >>

pf70collector · November 10, 2011 5:19AM

I mentioned this on the 25th ASE giant thread about dealers securing their sets by offering more than originally agreed upon. They could lose their sets especially if they are dealing with noobs. Never sold any of my sets to a dealer.

CoinCrazyPA · November 10, 2011 5:20AM

Another seller on the BST sated he has had people back out, he has the same Avatar as PF70.

1tommy · November 10, 2011 5:31AM

<< Name sounds familiar, APMEX, hmmmm. Oh yea, BBBBBBBwwwwhhaaaaaaaaaaaaaaaaa. >>

I do remember there buyback offer of 1250 for a set of the pucks and me and a friend sent back our A boxes for alittle profit. Personal opinion I will never shop there again after the ATB. As far as making a deal ahead of a sale those that do should abide by there word, Or just never make the deal in the first place.Enjoy

agentjim007 · November 10, 2011 5:40AM

I see a lot of people raising their hands on this 1

keyman64 · November 10, 2011 5:40AM

So, have any of these sold on eBay yet? What seems to be the going price on there?

packers88 · November 10, 2011 5:58AM

If the MInt had come out a few days later and said the demand was so high we are going to mint 500,000 sets now and alll of a sudden these sets carry no premium, do yuo think these national buyers would be willing to buy a 1000 sets at $400 when they can get them all day long at the Mint for $300? They would have excuses just like I'm sure they are hearing numerous excuses right now from locked in sellers who are asking themselves do I really want to sell to these people I never met before for $400 a set or do i hit ebay for $800 a set. Sure if you have a close working relationship with someone then yes I could see most honoring the aggreement, but outside of that I would venture to guess that 90% of the deals struck at $400 and under will never come to fruitation.

steelielee · November 10, 2011 6:01AM

Many for 800+, looked about an hour ag and 270 something had sold

packers88 · November 10, 2011 6:02AM

Also even if someone has the buyers last name and order number they are still going to hear it was delivered to my porch and someone apparently stole it. Alot of people hit the lottery with these sets and once they see that their $1500 investment is now potentially worth $6000 or $7000 after getting them graded properly I don't think they are going to be running to the mailbox to ship off 5 sets for a cheesy offer of $80 over spot or $1900 for all 5 sets. LOL

Justlooking · November 10, 2011 6:03AM

A deal is a deal.

pf70collector · November 10, 2011 6:17AM

Raw unopened sets could hit $1500. I think the waiting list started a lot earlier than the mint is admitting. PR move perhaps to calm down the natives, giving them some hope when there is none. I may be wrong but waiting for my 4 PM order to go to in stock and reserved.

OPA · November 10, 2011 6:23AM

A raw reverse proof sold for $355 today on eBay...+ an unopened set for $1600+ Reverse proof

Unopened set

streeter · November 10, 2011 6:54AM

$700 on the tape right now. Not a bad profit. $400 x 5=$2000 for doing nothing except standing in line and paying.

pf70collector · November 10, 2011 6:57AM

Must be the super rich buying the sets for $1600. Much like the $4K unopened puck sets.

Batman23 · November 10, 2011 7:32AM

<< A deal is a deal.

>>

YEP! A deal is a deal...I take my little profit and someone else gets to make the Huge Profit!

I need to find that darn crystal ball...I messed up on this one.

BAJJERFAN · November 10, 2011 8:01AM

<< 

<< A deal is a deal.

>>

YEP! A deal is a deal...I take my little profit and someone else gets to make the Huge Profit!

I need to find that darn crystal ball...I messed up on this one. >>

Yep.

TwoSides2aCoin · November 10, 2011 8:03AM

I didn't get in on the Ultra RARE 25th anniversary set, but I do have some classic coins in for grading this week

Kaelasdad · November 10, 2011 8:19AM

I appreciate all those who did keep their word. Had the prices dropped if the mint had released more, i would have honored my buy price--thats a persons word, for those who are wondering what they would have done, or figure a deal is not a deal--how much is your word worth?

RYK · November 10, 2011 8:24AM

<< I appreciate all those who did keep their word. Had the prices dropped if the mint had released more, i would have honored my buy price--thats a persons word, for those who are wondering what they would have done, or figure a deal is not a deal--how much is your word worth? >>

That's easy to say, in retrospect, especially when your downside was very limited ($300 or so) and your upside was not.

taxmad · November 10, 2011 8:25AM

<< I appreciate all those who did keep their word. Had the prices dropped if the mint had released more, i would have honored my buy price--thats a persons word, for those who are wondering what they would have done, or figure a deal is not a deal--how much is your word worth? >>

I calculated it at about $1500... good thing going back on my word would only net me $1450!

Kaelasdad · November 10, 2011 8:34AM

Yup RYK, my downside would have been $100 had I been buying one set. I would have honored every single deal. which makes my downside a whole lot more than $100. I havent found my price yet on my word--what did you figure was yours?

lol steve, im betting its a figure you haven't found either.

TwoSides2aCoin · November 10, 2011 8:42AM

<< I appreciate all those who did keep their word. Had the prices dropped if the mint had released more, i would have honored my buy price--thats a persons word, for those who are wondering what they would have done, or figure a deal is not a deal--how much is your word worth? >>

My word

Batman23 · November 10, 2011 10:20AM

<< 

<< I appreciate all those who did keep their word. Had the prices dropped if the mint had released more, i would have honored my buy price--thats a persons word, for those who are wondering what they would have done, or figure a deal is not a deal--how much is your word worth? >>

That's easy to say, in retrospect, especially when your downside was very limited ($300 or so) and your upside was not. >>

Those of us that pre-sold at low premiums did so of our own choosing at a level that was agreed to. The buyer did have risk involved, he calculated what he thought was fair, I took the offer and there is no one but myself to blame for the loss of potential funds. It is not the buyers fault that these are going for moon money. A deal is a deal, no one forced me to do this. I am not loosing any money, I am actually gaining some money. The fact that I apparently left a couple thousand on the table is no ones fault but my own. It is what it is. I hope my sets are all 70s and they make a killing!

packers88 · November 10, 2011 10:30AM

<< 

<< 

<< I appreciate all those who did keep their word. Had the prices dropped if the mint had released more, i would have honored my buy price--thats a persons word, for those who are wondering what they would have done, or figure a deal is not a deal--how much is your word worth? >>

That's easy to say, in retrospect, especially when your downside was very limited ($300 or so) and your upside was not. >>

Those of us that pre-sold at low premiums did so of our own choosing at a level that was agreed to. The buyer did have risk involved, he calculated what he thought was fair, I took the offer and there is no one but myself to blame for the loss of potential funds. It is not the buyers fault that these are going for moon money. A deal is a deal, no one forced me to do this. I am not loosing any money, I am actually gaining some money. The fact that I apparently left a couple thousand on the table is no ones fault but my own. It is what it is. I hope my sets are all 70s and they make a killing! >>

Yeah, and if the Mint would have announced an additional 300,000 being minted and prices dropped to $250 a set, then you might have been hearing, "sorry we've met our quota and we have all the sets we need at this time, but thanks for the opportunity." A deal is a deal when it is in the buyers favor, but you always wonder if the tables were turned then would a deal still be a deal? Yes, of course if you are making a deal with someone you frequently deal with, but if it is one of these national coin companies you've never dealt then first they can send me the money in advance and second they can pay fair market value less what ebay fees I would occur if selling on my own. You just have to have full faith that if the tables were turned they would honor their end, but if you don't think they would then I would certainly back out.

Kaelasdad · November 10, 2011 10:33AM

Lol, Im a one man shop here, not a national company--doing this with my best friend from high school because he said it sounded fun. Stop by Boerne Coins & Collectibles sometimes, i open the place next week, I needed a place to sit back while my daughter was at school.

taxmad · November 10, 2011 10:36AM

<< Lol, Im a one man shop here, not a national company--doing this with my best friend from high school because he said it sounded fun. Stop by Boerne Coins & Collectibles sometimes, i open the place next week, I needed a place to sit back while my daughter was at school. >>

Can I visit my set of PCGS 70's I am mailing you?

Coins911 · November 10, 2011 10:36AM

I had a buyer back out but i'm still offering mine for $585 each...

Batman23 · November 10, 2011 10:40AM

<< Yeah, and if the Mint would have announced an additional 300,000 being minted and prices dropped to $250 a set, then you might have been hearing, "sorry we've met our quota and we have all the sets we need at this time, but thanks for the opportunity." A deal is a deal when it is in the buyers favor, but you always wonder if the tables were turned then would a deal still be a deal? Yes, of course if you are making a deal with someone you frequently deal with, but if it is one of these national coin companies you've never dealt then first they can send me the money in advance and second they can pay fair market value less what ebay fees I would occur if selling on my own. You just have to have full faith that if the tables were turned they would honor their end, but if you don't think they would then I would certainly back out. >>

I am not going to make up excuses to justify my backing out just to gain a few bucks. That said I am sure he would have honored his end if the tables were turned.

blue594 · November 10, 2011 11:04AM

I got together a group of coworkers to sell to a large national dealer for an extra $100 a set in an unopened mint box of 5 sets. I agreed to the dealer for the group.
The backlash towards me today when word got around what they were selling for on ebay was a little uncomfortable. They all backed out of the deal to the large dealer.
I get the slight feeling that they think I'm the bad guy, maybe trying to rip them off. I hope I'm wrong about that.
I guess I can understand where they are coming from, $500 versus at least $1,500 profit. To a buyer they know nothing about.

It is absolutely impossible for me to follow through to the large dealer. There is nothing that I can do.
I guess I will contact the dealer tomorrow to let them know.

John

MilesWaits · November 10, 2011 11:41AM

<< I got together a group of coworkers to sell to a large national dealer for an extra $100 a set in an unopened mint box of 5 sets. I agreed to the dealer for the group.
The backlash towards me today when word got around what they were selling for on ebay was a little uncomfortable. They all backed out of the deal to the large dealer.
I get the slight feeling that they think I'm the bad guy, maybe trying to rip them off. I hope I'm wrong about that.
I guess I can understand where they are coming from, $500 versus at least $1,500 profit. To a buyer they know nothing about.

It is absolutely impossible for me to follow through to the large dealer. There is nothing that I can do.
I guess I will contact the dealer tomorrow to let them know.

John >>

I feel for you John!

I have found that convincing friends to involve themselves in a sport/hobby they know little to nothing about for profit alone has rarely worked out.

It is confusing for them and too stressful for me.

I take responsibilty for my choices and my choices only. That is much easier and infinitetly less stressful.

Miles

DuPapa · November 10, 2011 11:51AM

No good deed goes unpunished.... no more dealing with that group if it were me....

dragon · November 10, 2011 12:05PM

<<< Sure if you have a close working relationship with someone then yes I could see most honoring the aggreement, but outside of that I would venture to guess that 90% of the deals struck at $400 and under will never come to fruitation. >>>

<<< Also even if someone has the buyers last name and order number they are still going to hear it was delivered to my porch and someone apparently stole it. Alot of people hit the lottery with these sets and once they see that their $1500 investment is now potentially worth $6000 or $7000 after getting them graded properly I don't think they are going to be running to the mailbox to ship off 5 sets for a cheesy offer of $80 over spot or $1900 for all 5 sets. LOL >>>

1) 90% sounds like an awfully high percentage and nothing more than baseless speculation.

2) That "cheesy offer" was not a cheesy offer at the time, which would explain why so many people took them up on the offer.

3) People cannot claim their sets were stolen off their front porch as they had to be signed for.

4) It's easy to make negative remarks regarding other peoples morals or ethics over a couple thousand dollars and play armchair quarterback after the sets have substantially risen in value over the past week or so, however I'm "guessing" you have no clue how many people are honoring their previous agreements, or are perhaps trying to rationalize a decision you have made.

TwoSides2aCoin · November 10, 2011 12:14PM

No, but I did save 14 cents per gallon by driving across state lines for gasoline.

dorkbar · November 10, 2011 1:32PM

It's hard for me to believe someone would make a deal, then back out. It's not even in the realm of possibility for me. That's asking for a risk-free deal everytime, one in which every dime is squeezed out of each venture. That's not the way it works in a society of honorable individuals.

I know: What society of honorable individuals?

Sometimes you're going to score, and sometimes you're going to get scored on. Why sweat it?

lightcycler · November 10, 2011 6:54PM

<< It's hard for me to believe someone would make a deal, then back out. It's not even in the realm of possibility for me. That's asking for a risk-free deal everytime, one in which every dime is squeezed out of each venture. That's not the way it works in a society of honorable individuals.

I know: What society of honorable individuals?

Sometimes you're going to score, and sometimes you're going to get scored on. Why sweat it? >>

I agree with you. You make a deal you stick with it. This is the foundation of the BST. If you violate that code then hope I never deal with you in the BST. I would hope that MCM would out those that renig. Not cool.

timber100 · November 11, 2011 3:16AM

<< 

<< I got together a group of coworkers to sell to a large national dealer for an extra $100 a set in an unopened mint box of 5 sets. I agreed to the dealer for the group.
The backlash towards me today when word got around what they were selling for on ebay was a little uncomfortable. They all backed out of the deal to the large dealer.
I get the slight feeling that they think I'm the bad guy, maybe trying to rip them off. I hope I'm wrong about that.
I guess I can understand where they are coming from, $500 versus at least $1,500 profit. To a buyer they know nothing about.

It is absolutely impossible for me to follow through to the large dealer. There is nothing that I can do.
I guess I will contact the dealer tomorrow to let them know.

John >>

I feel for you John!

I have found that convincing friends to involve themselves in a sport/hobby they know little to nothing about for profit alone has rarely worked out.

It is confusing for them and too stressful for me.

I take responsibilty for my choices and my choices only. That is much easier and infinitetly less stressful.

Miles >>

I tried to get my cousin involved in the ATBs to make him some money, big mistake, will not make it again. Co workers could be very bad as you have to see them everyday if something goes wrong.

Has anyone reneged on their agreement to sell their 25th Anniversary sets for $400 or less...

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