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US Mint 2016 24k Gold Coins To Celebrate 1916 Designs

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OldWest's Avatar
United States
126 Posts
 Posted 04/14/2016  8:17 pm  Show Profile   Bookmark this reply Add OldWest to your friends list Get a Link to this Reply

Quote:
I think they will sell out but the flood hitting the market after that will be a bargain hunters dream....low mintage is not a consideration
I know it's total speculation, but what do you reckon the floor to be?
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United States
5207 Posts
 Posted 04/14/2016  9:22 pm  Show Profile   Bookmark this reply Add jack jeckel to your friends list Get a Link to this Reply
$205 seems a little steep markup wise.

As for the prices falling out I don't think so, at least not below issue price as long as gold spot stands when you make the comparison.

Just look at raw 2013 2 coin Eagle sets with the reverse proof and enhanced uncirculated Eagles. Every time I look they are still in the $130 issue price range. And the mintage of those was +225K
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Cascade's Avatar
United States
7390 Posts
 Posted 04/14/2016  10:22 pm  Show Profile   Bookmark this reply Add Cascade to your friends list Get a Link to this Reply
Dan carr is thinking of over striking these. I'll save my money for that and gladly pay the probable $300-350 he'll charge over this "plain" mint version for $200
Valued Member
OldWest's Avatar
United States
126 Posts
 Posted 04/15/2016  01:48 am  Show Profile   Bookmark this reply Add OldWest to your friends list Get a Link to this Reply

Quote:
Dan carr is thinking of over striking these. I'll save my money for that and gladly pay the probable $300-350 he'll charge over this "plain" mint version for $200

I had to Google Dan Carr to get that one.
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OldWest's Avatar
United States
126 Posts
 Posted 04/15/2016  01:49 am  Show Profile   Bookmark this reply Add OldWest to your friends list Get a Link to this Reply
For anyone that hasn't seen the NGC slab for the 2016 Mercury, here t'is.

US-Mint-2016-24k-Gold-Coins-To-Celebrate-1916-Designs
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Cascade's Avatar
United States
7390 Posts
 Posted 04/15/2016  08:39 am  Show Profile   Bookmark this reply Add Cascade to your friends list Get a Link to this Reply
Daniel Carr is a numismatic artist. In 2008 he acquired a decommissioned us mint press and now makes his own designs and dies to make pure fantasy pieses but he also creates fantasy date designs of past coin series like morgans peace ike barber etc. and overstrikes his designs using actual coins from the series which he's replicating as planchets (overstrike). It's a highly controversial area of collecting. Some think he's destroying the hobby while others see it as numismatic fringe art.

Also, with him, you can almost bank on his overstrikes only rising in value from issue price. He usually keeps mintages lower than demand
Edited by Cascade
04/15/2016 08:42 am
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 Posted 04/15/2016  10:33 pm  Show Profile   Bookmark this reply Add jack jeckel to your friends list Get a Link to this Reply
Buy one, get one free.

Well almost.

I will be buying at least 2.

Now how do you get a free one you might ask?

Chase has an offer if you open a new credit card where you get $150 cash back if you spend $500 in the first 3 months.

Plus 0% interest for 15 months.

So buy 2 coins, get 15 months to pay, and practically get the 2nd one free

I pay cash (I mean dollar coins and halves for just about everything for face to face transactions) but you still need a credit card for online and ebay. Might as well take advantage and close the account account after you collect your prize.
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Foxwoods Man's Avatar
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4901 Posts
 Posted 04/16/2016  07:37 am  Show Profile   Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply
That works
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Cascade's Avatar
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7390 Posts
 Posted 04/16/2016  08:54 am  Show Profile   Bookmark this reply Add Cascade to your friends list Get a Link to this Reply
You jeckel jack! Nice end-run
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mrpapageorgio's Avatar
United States
669 Posts
 Posted 04/16/2016  6:24 pm  Show Profile   Bookmark this reply Add mrpapageorgio to your friends list Get a Link to this Reply
I like the coin in general, however I think I'm going to go with the wait and see approach on this. If the mintage number was an Eisenhower C and C set, I'd jump faster, but I think this will be around long enough I can combine this with other mint purchases and get upgraded shipping (i.e. Silver proof set and maybe another product).

That being said, I think it will sell out once the other two coins get released since people will want to complete the set.

Not going to play the "buy 2 and flip 1" game with these (anyone trying to flip these will probably get burned like the Kennedy C&C). Probably buy two or three and keep the one I like best and return the other two to avoid getting a bad one.

I will say I think the presentation box is nice enough where I won't want to get it graded and just leave it in there.
Edited by mrpapageorgio
04/16/2016 7:37 pm
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daviscfad's Avatar
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4541 Posts
 Posted 04/16/2016  8:26 pm  Show Profile   Bookmark this reply Add daviscfad to your friends list Get a Link to this Reply
If you look at it this way, 12,500 people could get the house hold limit and they would be gone
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SA4H's Avatar
United States
2764 Posts
 Posted 04/17/2016  05:23 am  Show Profile   Bookmark this reply Add SA4H to your friends list Get a Link to this Reply
I like the thought of 'buy a few, select the best and return the rest'..... if you don't mind some troubles in exchange for a 'perfect' coin in your eyes.
Just be extra careful w/ the returning process and follow up, because they WON'T!
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Foxwoods Man's Avatar
United States
4901 Posts
 Posted 04/17/2016  06:51 am  Show Profile   Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply
I never order more coins from the Mint than I plan on keeping. Obviously if one is damaged I will return it but over the last 10 or so years I probably have return MAYBE 3-4 coins.

I don't think it's in the Mint's plans to run an approval service. Just my opinion and I guess I'm in the minority on this one.
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United States
1913 Posts
 Posted 04/17/2016  10:41 am  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
Foxwoods, I'd be right with you if the mint could consistently put out quality products. However, virtually every time I buy proof sets, there are several that have debris, spots or other sorts of damage to the coins. I went to a large coin show on Friday and the mint was there. I looked at five proof sets. Every single on of them had debris inside the Presidential dollar holder. No way is that acceptable for the price they're charging. Other world mints do a much better job of the same thing. Since the mint has made a decision not to worry about debris in their holders & imperfect coins and not to have a final visual inspection, it looks like I'll have to do it for them. Therefore, I'll buy twice as many proof sets as I need (10 instead of 5 of each) and return the extras.
Valued Member
OldWest's Avatar
United States
126 Posts
 Posted 04/17/2016  1:26 pm  Show Profile   Bookmark this reply Add OldWest to your friends list Get a Link to this Reply

Quote:
Foxwoods, I'd be right with you if the mint could consistently put out quality products. However, virtually every time I buy proof sets, there are several that have debris, spots or other sorts of damage to the coins. I went to a large coin show on Friday and the mint was there. I looked at five proof sets. Every single on of them had debris inside the Presidential dollar holder. No way is that acceptable for the price they're charging. Other world mints do a much better job of the same thing. Since the mint has made a decision not to worry about debris in their holders & imperfect coins and not to have a final visual inspection, it looks like I'll have to do it for them. Therefore, I'll buy twice as many proof sets as I need (10 instead of 5 of each) and return the extras.

As a person new to collecting, I am really surprised that items have to be returned to the US Mint. Reading through this forum has shown me that returns for QC issues are not unusual at all.

Strange. I would expect the items coming to me from the Mint to be flawless, almost perfect. Probably will not be the case. Granted, I have yet to place an order directly (but that will change soon).
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