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 Replies: 1,581 / Views: 148,728 |
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Pillar of the Community
United States
1770 Posts |
boy was that tough or what worse mint experience ever but somehow I was actually able to score one at around 1214 pm (one of the last ones I'm sure of) finally just now I received the email confirmation so my eagle collection is still up to date 1986-2019
I feel bad for any TRUE collector who wanted one
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Bedrock of the Community
 United States
12844 Posts |
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I feel bad for any TRUE collector who wanted one I do too. 6x retail is a tough pill to swallow. This is as bad as ticket scalping but I suppose we do live in a capitalist society. Hopefully after the initial price surge, prices will come down to 2-3x retail. Once I fill in a few more ASE holes in my collection, I might be a buyer at 2x for a 2nd one. Just imagine what those few signed COAs will go for.... oy. |
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Pillar of the Community
United States
1913 Posts |
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so any idea what the next "must have low mintage" coin or set will be for sale. At least I will have time to upgrade my internet connection speed!! It had nothing to do with internet speed. At my work we have an incredibly fast internet and I wasn't able to get one. I'm sure slow internet doesn't help, but that wasn't the significant issue. Quote:
I received the email confirmation so my eagle collection is still up to date 1986-2019 I feel bad for any TRUE collector who wanted one That's me. I have a complete collection now minus this ASE. I am happy for you. Quote:
This is as bad as ticket scalping but I suppose we do live in a capitalist society. The big problem here isn't the free market. It's the monopoly U.S. Mint that is very disconnected from its customers. If they would have produced a quantity that would result in an aftermarket in the same general price range, most everyone would be happy. They could also have been more fair to their ASE collector base by allowing those who have purchased the other recent ASE's to have the first shot at them. As the mint did it, I didn't have any better shot than another person who has never purchased the first coin from the mint. |
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Pillar of the Community
 United States
4618 Posts |
I posted on a Facebook coin group that I have one on a confirmed order and just got an offer to buy it for $425. I'm thinking I'll have mine graded and *hope* for a PR-70.
ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!! 
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Bedrock of the Community
United States
12844 Posts |
Quote:They could also have been more fair to their ASE collector base by allowing those who have purchased the other recent ASE's to have the first shot at them. I agree with this wholeheartedly. If you purchase at least one of every individually-packaged ASE throughout the year, you're guaranteed one of the 30k if you want one. Just not sure how they'd manage that or if it would be worth the development costs. |
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Pillar of the Community
United States
7285 Posts |
I'm in no way discounting true collectors but lots of people purchased this coin to flip, it also doesn't help with all the hype generated and people selling this for crazy amounts, but one also has to understand that websites like cff are also to blame, I mean look at this thread it's like 20 pages long. In the end we all caused this hype, and no I'm not selling mine!
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Bedrock of the Community
United States
12844 Posts |
That's a philosophical look at it, hjfacinto. We are victims of ourselves. Such is the human plight. One day my entire ASE collection will go to my son and he'll have no idea the effort I expended today on securing this solitary coin, stabbing furiously at the refresh button for 15 minutes. |
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Bedrock of the Community
United States
17884 Posts |
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So they sold 30,000 in fifteen minutes? Wow, it took that long. I thought they would go much faster. Quote:So it sounds like someone else came along and took the ASE out of my cart. Until you pay for it it is available to be sold. By the time you checked out they were gone, putting it in your cart doesn't reserve it. Quote:
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I wonder how many times a year the mint is getting 33 orders a second or 2,000 a minute.
That was the first time this year and probably the first time in 2-3 years, It's incredibly rare for their products to insta sell out Yes and typically you don't design your ordering system to handle that kind of a rate. I would suspect most businesses design their ordering system to handle three to four times their average ordering rate. From Big-Kingdoms post they did 32,000 sales in 7 days, now the system gets hit with 30,000+ requests in a couple minutes. No surprise it fails, it is essentially being hit with a Denial Of Service attack. Quote:
unless home shopping hired a phone bank to buy these from a ton of addresses, the vast amjority of these 30K are going to wind up immediately in collector hands right out the gate instead of with dealers like the 1995w did. I'm sure the Home shopping people did just that, so did a lot of the large dealers. Heck a lot of collectors do the same thing having all their friends try to order extras for them to flip. I also don't think a lot of the 1995 W sets went straight to the dealers. They were on the market for some time and were not a quick sell out. I suspect most of them went to collectors. Quote:
The big problem here isn't the free market. It's the monopoly U.S. Mint that is very disconnected from its customers. If they would have produced a quantity that would result in an aftermarket in the same general price range, most everyone would be happy. No they want an aftermarket where they will be able to sell for more than they paid, often about 1.5 to 2X Quote:If you purchase at least one of every individually-packaged ASE throughout the year, you're guaranteed one of the 30k if you want one. Just not sure how they'd manage that I'm not sure either because I believe you just guaranteed MORE than 30K+ people that they would get one of the 30K coins available. |
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Bedrock of the Community
United States
12844 Posts |
Quote:They could also have been more fair to their ASE collector base by allowing those who have purchased the other recent ASE's to have the first shot at them. Quote:If you purchase at least one of every individually-packaged ASE throughout the year, you're guaranteed one of the 30k if you want one. Just not sure how they'd manage that Quote:
I'm not sure either because I believe you just guaranteed MORE than 30K+ people that they would get one of the 30K coins available. Good point; they'd have to somehow distinguish between a dealer and a collector. I dunno... some registry that says "I'm a personal collector" that they vet and then give special purchase code for? People would no doubt try to rig the system anyway. It will be interesting to see if they try something similar in the coming years, particularly as the 35th anniversary of the ASE approaches. |
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Pillar of the Community
United States
533 Posts |
The mint has a subscription service for some coins like the regular proof ASE. But I don't think it would work unless you had Aldo purchased x number of coins via subscription and not just enrolled |
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Valued Member
United States
231 Posts |
Does anyone recall another mint issue with a mintage as low as 30,000? Has this happened with other mint coins before?
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Valued Member
United States
165 Posts |
The question for those who were able to place their orders is will you submit your coin for grading to PCGS or NGC, etc.? Based on the premium indicated on ebay, the price of grading this coin ( approx. $50) seems reasonable, and should make the coin easier to sell in the future. I have also had several bad experiences with coins purchased direct from the mint that developed spots in the original holder. None of my NGC graded coins have has any issues. |
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Pillar of the Community
United States
7285 Posts |
I don't generally buy slabbed coins so I have no interest in getting it slabbed. But that's me.
And in a few weeks the price will go down, now you have the speculators and the people that need one for a whole collection, once those are out of the market the price will settle to a reasonable amount. I'm going to hold mine until the price gets stupid or just pass it on to my kids. I actually was one that got one because of the hype generated. IMO there is no way a bullion coin is worth this premium. Heck if I had 2 and (actually) knew a collector that needed one I would sell at face. The speculators ruin it for collectors.
Edited by hfjacinto
11/14/2019 7:13 pm
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Bedrock of the Community
United States
12844 Posts |
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The question for those who were able to place their orders is will you submit your coin for grading to PCGS or NGC, etc.? I certainly might, given that it will not make it into my CAPS album. Quote:
Does anyone recall another mint issue with a mintage as low as 30,000? Has this happened with other mint coins before? Every modern gold commemorative. Obviously a bit different given the material cost, but, you asked.  |
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Valued Member
United States
135 Posts |
A few hours after the madness ended I went on ebay and put a bunch of these on my watch list, just for S&G's, there's a lot of listings. I'm seeing BIN listings for $600-$700 ending as people are buying them, but also seeing auction format sales with bidding approaching $600, and still 15-17 hours to go. I also saw a presale for NCG PF70 for $2300+, 4 sold. https://www.ebay.com/itm/2019-S-1-E....m1438.l2649I agree with some other posts it would have been nice if the mint had worked it so previous buyers of ASE's had first crack, but it was nice the HH limit applied to all, including the bulk dealers. Apparently no favoritism to anyone. Pretty good for a bullion coin |
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Posted 11/14/2019 5:17 pm
