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 Replies: 43 / Views: 5,213 |
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Pillar of the Community
United States
2295 Posts |
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And the mint caves to the huge wave of whining. Mint to demand? Pffftttt. Not very special now is it? Pure bunk. Put a limit on it like everything else and thats that.
This is like giving every kid playing soccer a trophy. Absolutely ridiculous.
Most people that buy them are collectors for their collections and not investors. That's why they build sets. Quote:
So to me the problem here is, if the mint makes high grade collectible coins and sell them at a high premium and with high mintage. They will be sure to drop in price, from issue price. If they do this enough then they will start losing their collector base. And that is the problem with the Mint. Their prices are way too high! If they would sell them a little above the bullion value, everyone would be happy. |
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Valued Member
United States
377 Posts |
I intend to buy 10 Sets just for their Beauty. The good thing about mint to demand is my (2) PCGS70 First Strike Sets will be cheaper.
I will Probably buy on the Open Market instead of sending mine in.
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Moderator
 United States
188770 Posts |
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Most people that buy them are collectors for their collections and not investors. That's why they build sets. Well said. |
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Pillar of the Community
United States
584 Posts |
"Every kid that plays soccer gets a trophy" Priceless!! lol
I think the mint had this planned from the start! They created a huge buzz with a limited mintage set, so they could release a mint to demand set. Have to give it up to there marketing department. Majority of the people who are going to buy this set, I doubt will be true collectors. People are unknowingly going to jump on this thinking its another 25th Anv Set type situation. Because they don't want to miss out on another rare opportunity. I don't think this set will have any problems selling close to a million, or more.
And I'll be getting 2 sets. I'm 50/50 on what there doing, I enjoy everyone being able to own a Reverse Proof, but scoring a limited coin(s) I enjoy just as much.....Now that I think about it.....Maybe a little more...lol
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New Member
United States
39 Posts |
I agree with GR58!!
Anniv. Sets and special sets should be limited because they commemorate a special moment or event in time. How would you feel if your 25th Wedding Anniversary or your Birthday were just like any other day? These events are special and celebrated because of what it represents.
I think that having something rare and unique is part of what makes us collectors, I think its in our DNA.
Someone mentioned grading this set that will likely cost double melt value then spending another $32/ea. for first Strike designation plus shipping there and back. It might be better to just buy one set from the mint and then let all the dealers do the work of sending these coins in for grading then paying a small premium to get a 70/70 set. I have sent coins to PCGS and get graded 69, which lowers the value to below what I paid to the mint + grading. This recently happened with the Star Spangled Banner Coins. Could have gotten them cheaper, faster and in the grade that I wanted without buying through the mint( this might be good for another forum discussion). Since this set will be plentiful, this may be the better route for me. The dealers can grade 1000 sets at a time ensuring that they get plenty of PR70's. When you send in 3 or 5 sets the odds are against you. I'm a little frustrated with PCGS, can't you tell. But here again, their strict grading means there's less of them and that's why PCGS graded coins cost more!!
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Bedrock of the Community
13014 Posts |
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Someone mentioned grading this set that will likely cost double melt value then spending another $32/ea. for first Strike designation plus shipping there and back. It might be better to just buy one set from the mint and then let all the dealers do the work of sending these coins in for grading then paying a small premium to get a 70/70 set. I have sent coins to PCGS and get graded 69, which lowers the value to below what I paid to the mint + grading. This recently happened with the Star Spangled Banner Coins. Could have gotten them cheaper, faster and in the grade that I wanted without buying through the mint( this might be good for another forum discussion). Since this set will be plentiful, this may be the better route for me. The dealers can grade 1000 sets at a time ensuring that they get plenty of PR70's. When you send in 3 or 5 sets the odds are against you. I'm a little frustrated with PCGS, can't you tell. But here again, their strict grading means there's less of them and that's why PCGS graded coins cost more!! I couldnt agree more. If youre looking for a perfect set or modern new release coin its cheaper to just buy it slabbed. I too sent in a few of the new ones every single one was a 69 which I find very hard to believe. Lot of 10 brand new commems and not a single perfect give me a break. They grade to keep the perfects down to a certain number and not according to what it really is when it comes to that. Their large order customers will get preferential treatment every time for who gets to get the perfects back. I will not be sending any more in on my own as they absolutely penalize you in the grading for you who are. If its new I will just be buying them already graded and if I find an old gem I will find a dealer to send it in and hope they get a better preference |
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Pillar of the Community
United States
3755 Posts |
I do not buy this stuff as an investor. I buy as a collector. And as a collector, I want something that is unique or rare or the like. And I believe the majority of the people out there are the same way. So falling back on the flipper/investor thing is narrow minded. The simple fact is that which makes it something to collect also makes it an investment item. Again, this pandering to the whining of "I didnt get one and it isn't fair and people make money of off it so its even more wrong" is truly the every kid getting a trophey phenomenon.
I am going to get this set. But it really ticks me off that something that has the potential to be a nice limited edition item is going to be a common item.
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Pillar of the Community
United States
927 Posts |
I agree that the "special" sets should have a mintage limit. What that limit should be I am not sure (certainly much less than 1 million). I think that the Mint is testing the market with the "mint to demand" on this set to see how it goes. But I would expect that this set will sell close to 1 million. I'll bet that next year they will try something different again. I would LOVE to see a UHR ASE! They will wait until next year to decide whether to put a mintage limit on next year's set, based on this years sales. As a collector and not an investor, I am interested because of the reverse proof. I will buy it anyway because of that. I don't really care if it goes way up or not, but all collectors like to think that what they have it worth more than they paid for it. |
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Bedrock of the Community
13014 Posts |
Unfortunately I think Perf is right and if this does well we will see more mint to demands in the future. Not sure about everyone else but if these special sets will all be mint to demand I will be passing on future sets. I love the reverse proof and all but if it is really going to be unlimited I would rather just have the coin then have it packaged with others and pay a premium for the packaging.
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Valued Member
United States
223 Posts |
Regardless of limited or not I think the coin will sell well. I'm planning on getting at least one set if not two, but they will be for collecting.
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Pillar of the Community
United States
2335 Posts |
It doesn't make too much difference which side of the argument you are on. The mint makes their decisions(right or wrong) based on what they believe will be most profitable.
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Moderator
United States
188770 Posts |
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I do not buy this stuff as an investor. I buy as a collector. And as a collector, I want something that is unique or rare or the like. Nothing wrong with that at all. We collect what we like and there is nothing wrong with liking this. Quote:
It doesn't make too much difference which side of the argument you are on. The mint makes their decisions(right or wrong) based on what they believe will be most profitable. I agree. |
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Rest in Peace
United States
4078 Posts |
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Pillar of the Community
2224 Posts |
Me three  Bottom line with them is always the $$ |
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Bedrock of the Community
United States
11951 Posts |
In this case, I am not sure if I agree.
I have no facts .. more of a feeling, that this decision was made because of complaints.
Complaints to the mint
Complaints to Congressmen and Senators
Congressmen and Senators passing on complaints
to the committee that approves mint products.
I have always felt the mint likes to make some of the
rare coins and error coins they put out, to keep up their collector base. Where the mint might be trying to make more profit is how they put the common coin with the unique coin. For example on the 25th Anniversary set the mint put three common coins with the two unique coins .. when most collectors may have already purchased the bullion, Unc and regular proof coin. And with this set how many of us purchased a 2012 regular proof coin this year and now have to purchase another to buy this set .. to get the reverse proof. Notice how they come out with the special sets .. after they offered the common coins, in the special set.
IMO - Most people don't see the impact of their complaints.
In this case having another common coin, when there would have been a chance to get a rare/low mintage coin.
I recently ask in a post what makes a large collection.
One of our experts replied, that the number of keeper coins would make a large collection, and not just a large accumulation. (keeper coins being key or rare coins)
IMO coin collectors should strive to get more keeper coins and not just accumulate a lot a common coins.
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Replies: 43 / Views: 5,213 |
First Page
Posted 05/04/2012 3:25 pm
