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 Replies: 1,627 / Views: 119,892 |
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Pillar of the Community
United States
927 Posts |
I myself would never pay any significant premium for a special label on a coin, especially a modern ASE or other commemorative. However, there is a significant market for MS69 and 70 and PF69 and 70 coins because of the mass marketers, such as HSN. They sell a lot of these coins to the general public (not coin collectors), many of which have no idea what they are really worth. I have never purchased anything from HSN, but I enjoy watching the sales pitch anyway. They are very convincing. And as long as there is a market for these graded coins, they will continue to command significant premiums. Even if we won't pay those premiums, there are many people that will. |
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Pillar of the Community
United States
4901 Posts |
I think the extensive market for 69 & 70 grade coins comes from collectors that want the best looking (grade) coin they can afford for their collection. They accept that the standards of the main TPG's will afford them this possibility. This is not Joe on the corner saying "This coin looks MS70 to me". The TPG stands by its grade and says "This coin IS MS70". It also makes their coins much more marketable for future sale. I don't consider the people that shop at HSN or Coin Vault etc. numismatists. They are pulled in by the hype and fluff and those companies which do a huge business. I would consider ebay more indicative of where any coin, graded or not, can be purchased by Numismatists. Type in "MS69 silver" now and you will get over 3000 available auctions, MS70 will add 1500 more. This is a great market for collectors and dealers alike. |
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Valued Member
United States
143 Posts |
Quick Question: It is being said that the 2011-S coin in this set is available only by purchasing this set. I was wondering why it is the case then that the s mint marked coin can be purchased on ebay at this very moment for around $50. Does anyone know why this is? Thanks |
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Pillar of the Community
United States
3755 Posts |
First. I have purchased from Coin Vault and I AM a numismatist. In many instance they are over priced for me, but a lot of times you can.snag some nice stuff for a good price. For instance they had MS FBL Frankies slabbed by NGC for just under price on CoinWorld. Better believe I snagged a.couple. That does NOT mean I am less of a collector. I simply consider it another source of coins. I just have to pay attention. No different than working with any other dealer. Coin Guy. The "S" mint coins out the right now do not actually have a MM indicating they were minted in San Fran. They have the quoted S designation because the only way anyone knew hey were from San Fran was that the sealed green boxes were marked San Fran. The only way to confirm that was for a dealer to send in the entire still sealed monster box. The S mint coin in the set is actually going to have the S MM on it. That would make it the only officially marked S ASE. We are getting two. If we can we will get a third and send it in to ANACS and see what happens. |
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Valued Member
United States
143 Posts |
Thanks for the help smokeriderdon. Helped a lot. I'm so excited for Thursday! Hope to get 2 sets myself
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Pillar of the Community
United States
1027 Posts |
On the credit card question, the mint will charge your CC when they are getting ready to ship, which could be several days before they actually ship. The FAQs (two cover this issue) claim that your CC won't be charged until product actually ships and this used to be true but since PBGS took over fulfillment in early 2009, they have rarely followed this directive. For quite some time during and after the UHRDE debacle PBGS had a habit of charging the CC, letting that charge expire unconfirmed, then charging again when they were really shipping. I think that they must have had a contract that gave them a stipend for every CC event that actually made a profit for them. They don't seem to do that much anymore but sometimes they will put the initial hold on your card several days before they ship and then not finalize the charge until after you have the product in hand. In reality there is no reason for them to do the hold/charge scheme at all. If they charged the card at time of shipment (like they promise in the FAQs) they could just do a one step CC event like everyone else in the business does.
The bullion coin in the set will also be from the SF mint like the "S" coins currently available. It is not known if the TPGs will attribute this to them but the mint has stated that all of the bullion coins to be used in the set were minted at the SF mint, which is handling the assembly of the sets. All of the coins are already in capsules and are supposed to be getting put into the boxes right now.
Edited by clairhardesty
10/25/2011 11:36 am
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Pillar of the Community
United States
1817 Posts |
The hold & expire process is definitely used by PBGS. I had several double charges from them in 2009 and 2010, so I switched over to a specially designated debit card this year. Each time I place an order with the mint, I transfer that much into the card. Haven't had the double charge problem since.
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New Member
United States
28 Posts |
Thanks for the info on the CC question:)
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Moderator
 United States
188213 Posts |
Quote:I have purchased from Coin Vault and I AM a numismatist. In many instance they are over priced for me, but a lot of times you can.snag some nice stuff for a good price. For instance they had MS FBL Frankies slabbed by NGC for just under price on CoinWorld. Better believe I snagged a.couple. That does NOT mean I am less of a collector. I simply consider it another source of coins. I just have to pay attention. No different than working with any other dealer. I agree. A good deal is a good deal, even if it comes from a place that usually has the worst deals.  |
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Pillar of the Community
United States
4901 Posts |
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Rest in Peace
 United States
1380 Posts |
What I fail to understand is that these sets are already being bid up over $400 each on ebay. Why bid $400 for one when you can order it from the mint on Thursday for $300? Are these people that convinced that they won't be able to get through to order one themselves? |
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Pillar of the Community
United States
4901 Posts |
Believe it or not there are MANY out there that NEVER order direct from the Mint...and....maybe even if they do they might think these will go for much more so why not pay a bit more now for an extra set or so
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Pillar of the Community
United States
1027 Posts |
This same thing took place with the Lincoln C&C and the UHRDE before that. There must still be people that don't know that the mint sells directly to us over the phone and internet. I still don't know how many sets I get to try for, The wife hasn't decided how much she is willing to sock away. I'll get at least two but hopefully all five. The toughest part will be waiting for the folks in San Francisco to finish getting them in boxes and out to PBGS for distribution. That could take a month or more, depending on where you end up in the FIFO queue.
Oh, my, gold and silver just took a jump. Gold is up to $1700 and silver to $33.20. Hopefully it won't go much higher, at least not enough to cause the mint to go off line.
Edited by clairhardesty
10/25/2011 6:08 pm
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Pillar of the Community
United States
1027 Posts |
Foxwoods, you are probably right, especially with those previous sets, like the Lincoln, that had a single set limit. If you want to get extra sets and the pre-order price is decent that can be a very good way to pick up more than the mint limit. I think if anyone gets a set second hand set for $400 that they are still getting a good price.
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Pillar of the Community
1283 Posts |
Blue moon coins is buying all your extra sets for $45 over cost and they will pay shipping. That obviously means these things are going to carry a premium in the open market maybe like the 20 year set. I am going to buy the 5 sets they allow you to buy, hopefully selling 3 or 4 of them.
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Posted 10/25/2011 09:08 am
