I was very lucky to nab 5 of the quickly sold-out 2011 5 piece American Eagle set from the US Mint yesterday...sat at the puter, and refreshed for hours..the site crashed at 901.AM, and, was slow all morning..I was going to just check later in the afternoon, after putting 4 sets in my cart...I finally added 1 more, after looking at ebay sales...(check the ebay forum, I have a huge question in there about these)...anyway, I am in NO hurry to sell these rarities, as over time, this should be the best, if not 2nd best low-mintage set to own...(I am NOT an Eagle collector, but, am NOW..will have to start the series!) My question is whether or not to slab these or not...I wrote NGC & PCGS, and, NGC replied this AM their procedure for submitting, which is coins MUST be UN-Opened from Original Packed sealed box, if you want the "Early Release", and, 25th Anniversary "Pedigree Label"... NGC no longer has the large Multi-Coin Slab, which is too bad, I always thought those were nice for proof sets, and, sets as these Eagle coin...oh well.... Anyway, I have to decide what to do, which Company to use, and, is giving up the bonus of hunting for possible errors(odds very low, I know) worth the price of slabbing... Just from what I see on pre sale numbers, it looks like I could sell my box of 4, from my first order, as a unit, un-opened, and, it would pay for the last set by the profit incurred, if I decide to unload.. I know there is a "window" for sending "First Strike" and "Early Release" coins in, so, I'll have to decide fairly soon...discussion for another day: I knoe the "First Strike" and "Early Release" terminology is quite a joke, as coins minted the last week of production, can qualify, as well as coins struck the first day, as the mint does not truly keep track of the records, which is just sillyness...if the Mint TOOK the time to slowly keep track, and number the batches by order, the coins first struck COULD be seperated, but, they don't do that, and, the whole thing is kindof a gimmick, in my mind, but, in the market place, it still commands top dollar. Opinions welcome on what to do here...my "Best" problem of 2011! Calvin
I'm with you Calvin, I thought about starting a thread with a poll for people to respond as to what they plan to do with any extra sets they ordered.
I also broke my order up into one box of 4 sets and one box with 1 set. I plan to keep the 1 set for myself, and sell the other 4. But I am torn also about whether to send them in the original box to NGC (how much would the fees cost? I'm not a member or anything) or sell them on eBay. And if I go eBay, do I sell them all 4 sets together in an unopened box from the mint or do I break them up and sell one set at a time, outside of the mint package?
Decisions, decisions. I would even consider selling them on CCF once I have enough posts.
Buy at original price and sell at the height of the fad, even the TPG is taking advantage like this to boost business, don't forget shipping and insurance both ways adds to grading these modern wonders.
But by then, the buying fad may slow down and you wont make the profits one would hope.
Sell the un-open box and get the best price, then you would cry if the buyer receive a error variety.
Obviously I want to maximize profit as I have two young boys and medical bills to pay, but I'm not greedy. If I sold for a 60% profit and the buyer opened the unopened sets and got an error variety or something worth way beyond what they paid, I would be happy for them. Unlike a lot of people, I am not greedy and want others in this world to be happy, I just need to provide for my family like most other people.
I'm a collector, not a dealer. But I don't have budget to collect, so I need to profit occasionally to fund my collecting habit.
I ordered five sets. I absolutely bought them to speculate with. I am a collector and do not collect ASE's. This was a money making opportunity from the other side of our hobby...and directly in the middle of a HUGE business within our hobby.
Keep the sets sealed and sell at the high water mark.
Great comments gang! Looks like we all got the Eagle bug...many got left out due to slow website, and super-fast sellout... As far as errors, yes, NOT opening the boxes will take EVERY ounce of will power to not see what's inside..that being said, and, I am NO expert on Eagle's, I think the error ratio will be very, very slim, if past History repeats itself..time will tell...many owner's WILL open and hunt for Double Dies, RPM's, struck-thru's, proof cracks, and, vapor-frosting misses, and, will be posted on Coneca, here, and other error coin websites..it won't take long to see what they have, or don't have...if something big pops up, yes, I would probably open my 5 up....I do NOT like the idea of both PCGS & NGC not having the MULTI-SLAB option for these babies, to slab as one-coin-per-slab just doesn't fit with me, just my opinion.....to keep as original as possible seems the best thing to do, in the neat box the mint offers for these..the 1 thing that DOES make me nervous is QUALITY CONTROL...I have had to return quite a few Proof sets over the years, due to un-believably crappy original condition, shocked, actually at what was delivered......if I sold my 4-pack of 20 coins, and, someone got a defective set,(it's usually scratches, or, hit-marks) I'm in big trouble, with a return, as we all know just saying "NO Returns" on ebay is meaningless these days...all the buyer has to do is click "Not As Described", open a case, and, boom, paypal instantly deducts the sale funds from your account, until resolved...it gets very messy, feedback issues, and the buyers always win.. I was thinking about the sets, driving Rosie(my 4-Y.O. Lab Dog)to the park this morning..."Distracted Driving", for sure, day-dreaming of the 2018 or so RedBook Values for this rare set, and, what it might read...in any event, it's pretty cool to own what certainly will be 2 of the rarest of all coins for the set..The American Eagle Silver Reverse Proof Coin- Mint Mark "P" Philadelphia, and, The American Eagle Silver Uncirculated Coin- Mint Mark "S" San Francisco... BTW, if anyone living in Northern Calif wants to hookup, and tour the S.F. Mint, let me know, I've never been there, and am dying to take the tour...and, they may have a sales room filled with goodies one cannot buy anywhere else(do they still make "Souvenir Sets"?)..The Mint is just a little over an hour's drive from where I live...let's GO! Calvin
I forgot to mention, for Bjones... Here's the NGC page for submitting these:(you can check prices for submitting on the NGC website--if you are an ANA Member, you can submit using the ANA Membership form, it's really easy. ==============================
NGC OFFERS LABEL FOR 25TH ANNIVERSARY EAGLE SETS
Posted on 10/26/2011 Coins from the limited-edition set of American Eagle Silver coins will receive a special NGC label and pedigree. Special submission instructions apply.
To commemorate the 25th Anniversary of the American Eagle Silver Coin Program, the US Mint is issuing a limited-edition set of five one-ounce American Eagle Silver Coins. This five-coin set contains one each of the following 2011 dated coins: American Eagle Silver Uncirculated Coin -- mint mark: "W" (West Point); American Eagle Silver Proof Coin -- mint mark: "W" (West Point); American Eagle Silver Reverse Proof Coin -- mint mark: "P" (Philadelphia); American Eagle Silver Bullion Coin -- no mint mark and American Eagle Silver Uncirculated Coin -- mint mark: "S" (San Francisco).
Coins from these sets will be pedigreed as EAGLE 25TH ANNIVERSARY SET. A special NGC commemorative label is available. Because some of these coins are also available individually from the US Mint, special instructions must be followed in order for coins to qualify for this EAGLE 25TH ANNIVERSARY SET pedigree and label.
Coins must remain in the sealed US Mint shipping boxes, and the entire unopened package must be sent to NGC for certification. NGC must open these boxes in order for the coins to qualify for the EAGLE 25TH ANNIVERSARY SET pedigree. Note: If NGC receives the package unsealed, only the reverse proof and S mintmark coins will receive the NGC 25th label. All other coins will get NGC's standard brown label with Eagle 25th Anniversary in the coin overprint.
Select the Modern Special Tier or higher. All anniversary sets that arrive at NGC during the Early Releases period will automatically be labeled as "Early Releases". To opt out of the Early Releases designation, write "No Early Releases" on the submission form. Coins for this designation or special label must be on their own submission invoice. The 25th Anniversary coins cannot be mixed with other coins to qualify for this pedigree. Mint purchase receipt will be returned with the Shipping Copy of the NGC Submission form. Original Mint packaging will not be returned unless requested on the submission form.
â- Š If requested, a surcharge of $1 per set will be assessed for this service. â- Š Write "Return Mint Packaging" clearly on the submission form. â- Š The Mint packaging including capsules will be returned with graded coins. Shipping boxes will not be returned. Due to the special handling required, NGC will not accept submissions of these sets at trade shows.
Dealers should contact NGC for bulk submission instructions and guidelines.
Questions? Contact NGC Customer Service at service[b][/b]@[b][/b]NGCcoin.com or 1-800-NGC-COIN (1-800-642-2646).
I as a collector am disgusted with persons who have ordered 5 (or even more sets under different names) just to profit on the people who were unable to order in time. I feel lucky I was able to order my one set in the five or so hours that they were available. I have purchased the ASE coins from the mint every year since 1996. I am truly sorry for the working stiff collector who was shut out of a mint purchase because on the first day available he was working.
1 - Why is there a "first strike" label to begin with. The mint did NOT keep these records and it seems like another way to shed collectors of more hard earned money. The collectors I know are Intelligent , Informed , Educated people who know there are no such animals, in this set as a first strike coin/set, just because the TPG'R have set up their rules to receive this label people are feeding into the BS of it all, are We really that material to believe this company hype for that label, are We actually that blinded by the hype? An Education is a powerful aid in investment decisions, not to mention common sense.
2- Do alot of people really care to send their sets off ? to a TPG'R to spend more hard earned money for the slab, for the label to designate what you as the owner already know? I just see the companies drooling over the amount of people who will submit these sets for the crazy fees set up by these companies and honestly, will not feed into the frenzy to have some one else grade my sets or to just have, because I paid, the 25th anniversary label on the slabs. I am NOT beating up the TPG'S, I am putting food out there for all to think about!! Comments anyone, I am seeking input from members of this forum on this topic ? I too am a multi-collector and just thought I would ask these questions to achieve a better sense of the reality of the topic.
I got 2 sets. Sold one to a friend at cost. The other I'll keep. I just don't see the label on the slab mattering 5 years from now. The unique coins will remain in demand. As for the others, I just can't see a premium just because it came in the anniversary set. Time will tell and in the short term I'm sure it'll matter, but in the long term I just can't see it holding up. I'd like to see a poll if forum members will pay a premium for a ms70 25th bullion versus a normal issue ms70. I for one will not.