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US Mint 2016 24k Gold Coins To Celebrate 1916 Designs

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XavierOfGreen's Avatar
United States
2589 Posts
 Posted 04/21/2016  12:18 pm  Show Profile   Bookmark this reply Add XavierOfGreen to your friends list Get a Link to this Reply
Took me 12 minutes to get my order of 10 in. There's heavy initial demand, lets see if it lasts throughout the day. In theory 12,500 orders could push it to a sell out. A sell out is completely feasible on these, given the final mintages on the 2009 UHR and the gold Kennedy half. The lower price compared to the gold Slq and Walking liberty, and the gold commemoratives will help it too.
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ratio411's Avatar
United States
1208 Posts
 Posted 04/21/2016  12:19 pm  Show Profile   Bookmark this reply Add ratio411 to your friends list Get a Link to this Reply
I put the coins in my bag at 12:00 and 15 seconds...
Checked out, by 12:01...
Then the site went down intermittently...
After several log ins and attempts to "finalize" my order, I finally got confirmation at 12:11 ET.

So, 11 minutes to get my order done.
I thought they had that crap fixed.
Or LOTS more people were ordering than are admitting it.
USM041229xx
Edited by ratio411
04/21/2016 12:20 pm
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BH1964's Avatar
United States
10982 Posts
 Posted 04/21/2016  12:21 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
I crashed and burned about 10 times (with one total log-out and re login) and finally got through at 11:10 central.
ANA #R3154474
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ratio411's Avatar
United States
1208 Posts
 Posted 04/21/2016  12:22 pm  Show Profile   Bookmark this reply Add ratio411 to your friends list Get a Link to this Reply
So these are not going to be the same size as a dime?
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BH1964's Avatar
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10982 Posts
 Posted 04/21/2016  12:23 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
Who was offering $500?

I received the $250 email


Vault Wholesale was offering $500 for a box of 10 and they pay the shipping too. That offer was quickly reduced to $250 for 10.
ANA #R3154474
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Debrajc's Avatar
United States
4211 Posts
 Posted 04/21/2016  12:26 pm  Show Profile   Bookmark this reply Add Debrajc to your friends list Get a Link to this Reply
I signed on around 12:06. Reloaded at least a dozen times but got my order placed at 12:11.

Penn Metals was offering $250 profit for 10
Here is a pic of Vault Wholesales email of the $500 offer. I am a lurker on a couple of the "silver stackers" boards and a few of the big spenders received it yesterday and posted the email.



US-Mint-2016-24k-Gold-Coins-To-Celebrate-1916-Designs
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OldWest's Avatar
United States
126 Posts
 Posted 04/21/2016  12:35 pm  Show Profile   Bookmark this reply Add OldWest to your friends list Get a Link to this Reply
On backorder, now.
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macmercury's Avatar
United States
5830 Posts
 Posted 04/21/2016  12:41 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
Back order also. I got in too late.
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United States
1026 Posts
 Posted 04/21/2016  12:42 pm  Show Profile   Check omxfl's eBay Listings Bookmark this reply Add omxfl to your friends list Get a Link to this Reply
I think this is just the first batch. I can hardly imagine they sold ALL coins that quickly. No way Jose...
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OldWest's Avatar
United States
126 Posts
 Posted 04/21/2016  12:44 pm  Show Profile   Bookmark this reply Add OldWest to your friends list Get a Link to this Reply
And now the language on the Mint's site reads:

This product is currently Unavailable.We are currently out of this item, but more may be available later.

So, it's a may be from the Mint.
Pillar of the Community
United States
1026 Posts
 Posted 04/21/2016  12:46 pm  Show Profile   Check omxfl's eBay Listings Bookmark this reply Add omxfl to your friends list Get a Link to this Reply
Remember the HoF Baseball coins? They were gone quickly only to become dead wood later on...
I think about 70% are in the hand of flippers.
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United States
1189 Posts
 Posted 04/21/2016  12:51 pm  Show Profile   Bookmark this reply Add LibertyEagle20 to your friends list Get a Link to this Reply
I went back and forth but decided to order two. I went to buy them and they are sold out. Guess that makes my decision easy. Hopefully they bomb and flippers have to let them go at a loss. I might just buy a graded 70 later if they aren't too expensive. Disappointing but it's my own fault for not being on right at noon.
Pillar of the Community
United States
1026 Posts
 Posted 04/21/2016  12:59 pm  Show Profile   Check omxfl's eBay Listings Bookmark this reply Add omxfl to your friends list Get a Link to this Reply
Just for comparison, there were only 50k of the baseball gold coins which was split across both unc and proof issues. This is 125k coins for just one coin. Okay, this costs less than half of what the baseball coins did cost.
Just look how many ebay sellers there are who are already undercutting each other.
No, thanks.
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OldWest's Avatar
United States
126 Posts
 Posted 04/21/2016  1:00 pm  Show Profile   Bookmark this reply Add OldWest to your friends list Get a Link to this Reply
So, this is what people call flipping? A listing on ebay for 10 Mercury gold coins - $2,950.00.

US-Mint-2016-24k-Gold-Coins-To-Celebrate-1916-Designs
Pillar of the Community
United States
5208 Posts
 Posted 04/21/2016  1:14 pm  Show Profile   Bookmark this reply Add jack jeckel to your friends list Get a Link to this Reply
I was going to order 2 but with all of the negative talk here I figured it would be a flop as well and only ordered one. My plan was if it was a flop in 3 months ebay should be flooded with slabbed MS69's for below the Mint's issue price unless gold goes way up.

If the coin has truly sold out then that means that a lot of them did go to flippers and the market should be saturated with slabbed ones shortly and the prices driven down.

Just look at the baseball coins now. When the first shipment went out prices were 2 or 3 or 4 times over issue. Now you can get raw gold ones for almost issue price and slabbed dollars and halves for under issue price.
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