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 Replies: 463 / Views: 60,313 |
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Pillar of the Community
 United States
720 Posts |
While I'm all for supporting local small dealers, I don't think the typical small dealer has the liquid assets to make large quantity purchases of gold coins. The dealer that's taking advantage are the large scale operations that take out multiple full-page ads in Coin World and they're not dependent on the occasional high demand commemorative release to stay afloat. Isn't the mint a government function designed to serve the people first and foremost? By the way, lest you think this is sour grapes, I placed my order for one of each of all the options and have confirmed delivery dates. Wondering if there's going to be repeat of this scenario when the gold Kennedy's release later this year. My guess is yes. |
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Pillar of the Community
United States
4901 Posts |
I would agree on "yes" for the Kennedy
I thought the 50k was high for a gold commem but the I guess the baseball connection made it a bit more appropriate. A limit of 10 would have been MUCH more appropriate and would have prolonged sales so the normal working Joe could have a chance.
100 per dealer/per employee kinda killed this one early...wait for the market flooding that HAS to occur for the dealers to get their cash back.
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Pillar of the Community
United States
713 Posts |
My experience was nowhere near as easy as most of yours.
I started calling at 12:00 noon. Phone was busy straight through past 7:30 pm. I gave up.
Finally at 7:30, I was able to order online, after the website messed up for about 1/2 hour. It kept saying "your cart is empty" even though on the top right of the order screen it showed 3 items.
It was a real pain. I called the other mint number, not for ordering, and left a message what a bad experience it was.
In the end, I was able to place an order, and apparently I'm in the June group.
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Pillar of the Community
United States
4901 Posts |
I placed mine at 209pm after 2 hours in the "waiting room" and I'm in the June group
It will be interesting to see when they actually sold out...some say 6p but then say 41k were sold by then...
We shall see...
I also placed an order the next morning and THAT'S also in the June group....even though I am assuming it's really toast
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Bedrock of the Community
13014 Posts |
Quote:
As a collector - I prefer a finite resource. Whats the point of collecting if every coin made is sold to everyone that wanted it until everyone had it - not much interest in that scenario either. Couldnt agree more. This is why for the most part modern collecting is so unpopular. Everything is so easy to find compared to classics that most people just arent interested. Things that take effort to find are more satisfying anyway. The 2011 ASE set was excitement when you got your hands on one, the 2013 not so much. Quote:
Isn't the mint a government function designed to serve the people first and foremost? The function of the mint first and foremost is to provide capital for the government and commerce to exist. Its only other function is to make money. Nothing in government is designed to serve the people first and foremost Quote:
It will be interesting to see when they actually sold out...some say 6p but then say 41k were sold by then... I bet you the system dumped some orders with how horrible the site was working. It is worth noting though that the actual sell out number will be less than 50k though from the sets sold at Baltimore, the Mint Shops and anywhere else they were selling them in person. How many sets that adds up to is yet to be seen. |
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Pillar of the Community
United States
899 Posts |
I think they'll easily have the 50k sold when this is done. I also think the number didn't reflect 50k because the system was having problems tracking multiple orders from a single source, which was reflected in the the tracking only showing a single order in your history the first day. With the implementation of the wait list - the mint has built a sizeable list of people over the 50k who have shown an interest in the gold coins - and even if several cancellations roll in the mint can just go to that list and start filling orders.
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Pillar of the Community
United States
720 Posts |
As a collector-I prefer a finite resource....provided I possess that finite resource already. Just stating the obvious.
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Pillar of the Community
United States
1817 Posts |
The gold coins were a winner from the get-go, if you paid attention to the authorized maximums in the legislation. Every $5 commemorative from the '96 Smithsonian to last year's 5-star Generals was a maximum of 100,000 coins across both proof and unc. The Mint seriously undercut and underestimated the demand, but this was based on the last four $5.00 offerings which ended up between 21-26% of the authorized maximum. Inexplicably they wrote the legislation for 50,000 gold coins...perhaps it was recommended by the HOF itself? Screamed instant rarity and pent-up demand. So what happened on Thursday afternoon should not have come as surprise to anyone.
The factors that collided to make the gold coin a winner:
1. Great interest in the collecting community and baseball fans.
2. First convex/concave coin issued by the Mint.
3. Issue price fairly reasonable for most collectors to get at least one coin.
4. 50,000 means there will always be a demand for this coin, instant 15-20% premium over issue price. Might be the next silver American Buffalo with legs.
The silver dollar might do ok, if it gets to the max, might be too many in the long term.
Edited by Bizybackson
03/30/2014 1:18 pm
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Pillar of the Community
United States
720 Posts |
So you're saying...."The Perfect Storm."
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Bedrock of the Community
13014 Posts |
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The silver dollar might do ok, if it gets to the max, might be too many in the long term. If they max out its still about 100k less than the buffalo commemorative which still has a huge premium. The premium may come down some from the sky high amounts the graded ones are fetching right now, but at this moment it looks like these are going to have a strong premium. Anyone who wants a raw one should order from the mint while they can. |
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Pillar of the Community
United States
899 Posts |
My take on the silver proof...if you haven't already bought it - do so soon. The videos I've seen and the pictures of the coin itself... tell me this is the best of the coins - after the gold proof. Over 155,000 sold in the first 12 hours or so and 400,000 total offered. I would bet this coin will be sold out within 2 weeks of going on sale as well.
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Pillar of the Community
United States
1254 Posts |
I received emails from the mint this morning, they said the gold proof is backordered until 6/19 and the proof silver is backordered until tomorrow 4/1. So I should see the silver proofs soon.
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Valued Member
United States
134 Posts |
This was my first gold purchase. The email I received stated: 1. 2014 Baseball HOF PROOF $5 GOLD (B31) Qty 2 @ $424.75 - Backordered 06/15/14. So I thought I didn't get it order in time. But I just checked my order status: 2014 Baseball HOF PROOF $5 GOLD 2 $424.75 $849.50 2 units backordered. Expected to ship on 04/14/2014.  |
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Bedrock of the Community
13014 Posts |
Not sure whats going on with the mint system (they probably arent either) but it seems a lot of the 4/14 dates and 6/15 ones flipped. Mine were all 4/14 and its now 6/15 while quite a few 6/15 have been moved up
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Pillar of the Community
United States
4901 Posts |
Yup, my 2pm order has the gold at 6/19 and the silver at 4/14
....which is the same as my 455pm order....
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Replies: 463 / Views: 60,313 |
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Posted 03/29/2014 2:01 pm
