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 Replies: 61 / Views: 9,695 |
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Bedrock of the Community
United States
17884 Posts |
The coin has to have a face value less than the bullion value. Once that is taken as a given, and that the coin will not circulate, what does it matter what the legal tender or face value of the coin is? OK is seems odd the one oz is a dollar and the five oz is a quarter, but it really doesn't matter a hill of beans.
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Pillar of the Community
555 Posts |
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The coin has to have a face value less than the bullion value. Once that is taken as a given, and that the coin will not circulate, what does it matter what the legal tender or face value of the coin is? OK is seems odd the one oz is a dollar and the five oz is a quarter, but it really doesn't matter a hill of beans. Exactly right. Buyers pay millions for one cent. Denomination=irrelevant. |
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Valued Member
United States
103 Posts |
Ed Moy, the mint director, made some interesting comments regarding these 5oz coins. He said the mint having trouble coining them, since 5oz of silver was stretched too thin for an three inch diameter coin leading the edges to crumple after striking. I find this hard to believe, as the ASE is almost an inch and a half and quite thick yet contains 1oz or so of silver. Can't remember if these three inch coins are going to be .9995 proof, but the truth seems be more like the lack of good silver blanks for these coins. Would I buy these? Probably a couple just for the curiosity factor. More if they are marketed in proof, since the designs are a standout in that format. They'll probably run $150-$175 per and out of range of most collectors budgets, just the First Spouse gold bullion coins. It's another example of the US Mint going awry and not really listening to what collectors and the general public wants. |
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Pillar of the Community
United States
1213 Posts |
The size of this 25 cent "coin" is certainly better to showcase the National Parks, even with the crappy designs they're coming up with.
I also find it frustrating that the mint can make these but not the Proof American Eagles that there is a demand for.
I think Mr. Moy needs to be replaced with someone who is a better manager.
I still don't think they'll sell many.
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Valued Member
United States
56 Posts |
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Last I herd they were exact replicas of the park quarters making them $.25 legal tender! I really hope I'm behind the guy that tries to cash 4 of these in at a convenience store! |
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Valued Member
United States
103 Posts |
Nicholas, I'm with you there, although I hope the guy front of me at 7-11 is trying to pay for a case of beer with a $50 gold or platinum eagle! (Sorry for the thread jack and going off-topic!)
Edited by zazenboy
07/10/2010 8:01 pm
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Pillar of the Community
United States
1055 Posts |
I am interested in this series for a potential series with low mintage issues, but will be less interested if they are released with a $50-$75 premium over spot. At $115-$125 a piece with silver $18-$20/oz I am a player.
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Valued Member
United States
103 Posts |
Personally, cownas22, I do not think mintages are going to be that low, if the sales of the 2009 ASE are any indication, unless the mint limits orders with a maximum of 250,000 "across all options." 500,000 per might be more realistic, at least for these first five coins. There is a market that buys the 4 and 5 oz. piedforts from private mints, so they will be especially interested. Instead of buying the 5 piedforts for $750 total, I'd use that money and get an unc MS69 or 70 Sarah Polk First Spouse $10, last mintage figures I saw were way under 2500 coins making them potentially the key of series thus far. Just my .02! |
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Pillar of the Community
 United States
1406 Posts |
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It's another example of the US Mint going awry and not really listening to what collectors and the general public wants. Zazenboy, The 5oz bullion coins are not intended for collectors. I have not heard any news yet that proof issues will be released. As bullion coins issued through bullion dealers, I do not think limits will be put on orders. Quote:
At $115-$125 a piece with silver $18-$20/oz I am a player. This is where I'm a big buyer as well. Especially for the first five as they are having issues with minting them and all five will be released at the same time. Mintages will be something to watch in the first year IMO. Quote:
I also find it frustrating that the mint can make these but not the Proof American Eagles that there is a demand for.
I think Mr. Moy needs to be replaced with someone who is a better manager.
I still don't think they'll sell many. Posted earlier.... Quote:
Again, the mint and Director Moy had NOTHING to do with the authorization of this coin. CONGRESS came up with the idea for this coin, they approved it, and directed the Mint to make it. Now the Mint has to try and make it whether they want to or not. They also have to make the bullion eagles in sufficient quantity to satisfy demand, and demand has been outpacing the rate the suppliers can provide the planchets. It is NOT the mints fault or Director Moy's. Edited by captainkurt
07/11/2010 06:47 am
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Pillar of the Community
United States
1406 Posts |
I'm getting a little anxious for these coasters! Silver prices are getting high too! Any new news people?
edit: found this on BUZZ WITH DAVID HARPER blog
Monday, August 16, 2010
Proof five ouncers?
Posted by Dave
Kudos to Mint Director Ed Moy for attending the American Numismatic Association World's Fair of Money in Boston even briefly. My condolences go to him and his family on the loss of his mother just beforehand.
I am sure that individuals who asked for his autograph at the Mint booth and who attended the public forum on Saturday morning would feel as I do had they known the circumstances.
We are getting closer to seeing the five-ounce, three-inch diameter America the Beautiful silver coins, but we still do not know a starting date for sales.
Moy said that they are still working on questions of price, distribution and quality.
Though it is called a bullion coin, Moy said they were trying to find some flexibility regarding distribution. That's another way of saying the Mint would like to sell directly to collectors.
The Mint also would like to see proof and uncirculated collector versions, but there may not be enough time between now and year end to make that a reality.
An order of 500,000 planchets has been placed and each of the five designs will see 100,000 made in sequence.
To divide these mintages between proof, uncirculated and bullion coins would knock the figures down to roughly 33,000 each and another Mint goal is not to create an instant rarity.
It is possible that this year will not see proof and uncirculated pieces, but next year will, making the idea of complete sets for the 56-design program rather an eclectic mixture.
Stay tuned.
Edited by captainkurt
09/09/2010 4:58 pm
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Pillar of the Community
 United States
2448 Posts |
Great, that means the premium for the coins will go hypersonic. Us average schmucks won't have a chance.
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Valued Member
United States
66 Posts |
I have heard one limit on volume for these coins is the single press they have for these. Although I guess more could be bought in the coming years, if the series does well. That one press (which they had to go to Germany and buy and train on) has only 1,000,000 per year capacity.
Given that volume, I think they will be hard pressed (pun intended) to get 500,000 of the 2010 coins done by year end. The Plachard order was not placed with Sunshine mint until the middle of August...
The rumors I have seen on proof versions has been far more minimized then how it's put above. More to the level of, 'Moy would like to see . . . one day.' ?
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Valued Member
United States
71 Posts |
now as we sit here in january 2011 we know that the mint lost control early, supply will not meet demand, silver remains high and potentially volatile ... these coins are gonna be cool if you can get em, expensive on the secondary market (really expensive ...) I sure hope I can get some !
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Pillar of the Community
United States
1348 Posts |
Agreed. I don;t htink the mint has every really learned from the past bullion coins
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Valued Member
United States
65 Posts |
Anyone having any luck with the Authorized Dealers putting any more 5 oz out for sale. I had heard about a week or two ago that there maybe one or two dealers that had some coins that they were going to be released right about the first of February.
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Replies: 61 / Views: 9,695 |
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Posted 07/06/2010 4:01 pm
