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2014 Silver Eagles

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denco7's Avatar
United States
2543 Posts
 Posted 01/02/2014  09:55 am  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply

Quote:
Not necessarily. When you buy at the HSN level or the level that show host does you get special treatment.


Unlike ANACS, the mint does not enter in to cozy relationships with dealers. Becoming an Authorized Purchaser of bullion from the mint is a highly regulated procedure consisting of extensive background checks and credit checks. It requires a two way market, not only the ability to buy from the mint, but also the requirement to post buy back prices and ability to buy back bullion from the marketplace.
There are currently only 11 companies that are qualified by the government to buy bullion from the mint. The only major online dealer on that list, is APMEX. Even Provident who sells a massive amount of bullion, buys their bullion from an AP.


Quote:
Last year for circulation coins they struck almost 12 billion. Theres about 8765 hours in a year. Philly and Denver would have to be combining for over 1 million coins an hour running the pressed 24/7 to meet that demand and we all know they arent striking circulating coins by the end of the year so they would actually have to be doing more than that.


I see your point , but producing 12 bil coins from Dec 1 2O12 to Dec 1 2013, when you say they start minting 2014, is the same production rate as if they minted Jan 1 to Dec 31, 12 months.
The law states that coins must have the date of the year they were minted on them. I am trying to find a copy of the exact law. ( for accuracy sake, as many google searches link CCF as an authority on all things coin.)Except by act of congress, such as 1964 coins being minted until 1966 and 1975-76 coins being minted for two years straight as bicentennial coins.
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jbuck's Avatar
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188660 Posts
 Posted 01/02/2014  10:35 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I cannot speak for the 2014 releases, but the 1964 dated coins minted in 1965 (as well as the 1965 coins minted in 1966, and 1966 coins minted in 1967) were allowed by the Coinage Act of 1965.
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Conder101's Avatar
United States
17884 Posts
 Posted 01/02/2014  10:41 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
HAVEN'T EVEN BEEN MINTED YET. Wow....wow...wow

They've been minted. They cut off sales of 2013's in early December and have been making 201's since then.

Back in the early years of the "First Strikes" it was revealed from packing dates on submitted Monster boxes that the 2006 ASE's had been in production as early as Sept 2005. By law the coins have to bear the date of the year in which they were struck, but the mint has ignored that law for a long time taking the stand that as long as they don't release them before the year shown on the coin that they are legal.

There have been a few cases of coins leaving the mint before the year they were dated. Back in the early 70's a collector received a proof set in December that had the upcoming years coins in it. The mint had to release the 2000 cents and Sec dollars to the cerial company in 1999 so they could have them packaged and ready for Jan 1st, a 2000 Sec dollar got out of the mint in a bag of either 1999 Sec's or Washington quarters and was slabbed in Dec 1999, with the slab dated.

And of course the authorized distributors had orders in with the mint back in December for them to ship their first shipments of the new ASE's directly to the TPG's. Those probably went out early Jan 1st. The TV people have also been known to create a slab with the new date but with the previous years coin in the holder. Typically they will do closeups of the label of the slab but not the whole slab so you can't see thedate on the coin. When they show the whole slab it is at a further distance so the date on the coin can't be read.
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smokeriderdon's Avatar
United States
3755 Posts
 Posted 01/02/2014  11:57 am  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
Couple things here. Quit slamming ANACS. They ALL do it. PCGS, NGC and ICG as well. You can pre purchase them from virtually anywahere. Go check places like APMEX and other "respected" dealers. They do it as well. Here is how and why.

For sake of argument, lets say HSN orders 1000 monster boxes a year. If memory serves there are 500 ASEs in a box (please correct me if I am mistaken there). Thats 500,000 ASEs to be graded. They have been doing this for a loooong time. They know that a certain percentage have come back as 69 and a certain percentage as 70. Lets say the percentage of 70s is 30%. That is 150,000 coins. To be safe, we wont sell that many just in case. So we will count on 25% being 70 and if it turns out to be 30% or better, then we have that many extra to sell over the course of the year.

As for printing the labels. Of course they print them ahead of time. They would be fools not to. You have that many coins coming in for grading and you KNOW you are going to be slabbing around a certain percentage then you print those labels up. Only a moron would have his grading service print the labels for the coins as they were graded. That would be a ridiculous waste of time.

As I said, ALL OF THE TPGs do this. And EVERY large dealer of the ASEs pre sells. The mint made something on the order of 50 million bullion ASEs last year. I am pretty sure they will make enough this year to cover whatever HSN and the rest of them sell. Not to mention they HAVE been minted. As conder pointed out, the mint has done it like this for a very long time.

So merc, you need to change your statement to say ANY slabbed coins may as well be ungraded because all four do it. And to make it easy for you to check my facts, here is a link to APMEX.. http://www.apmex.com/category/1659/...rican-eagles

Wow, look at that. PCGS and NGC graded MS70 2014 Eagles. They even have bulk discounts!

I could put up a lot more links to places like Modern Coin Mart and what not, but I won't. My point stands.

The criticism of ANACS is off base. The criticism of pre selling is off base.
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BamaBlue's Avatar
United States
624 Posts
 Posted 01/02/2014  4:43 pm  Show Profile   Bookmark this reply Add BamaBlue to your friends list Get a Link to this Reply
Speaking of 2014 Eagles... has anyone seen pre-sales on the Proof (70) ASE's? I'm looking for '14 PR70's from PCGS (preferebly first strikes).
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smokeriderdon's Avatar
United States
3755 Posts
 Posted 01/02/2014  5:55 pm  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
Bama, the 23rd is the release date on the proofs. I would imagine they will be pre selling next week once they are done with the bullion coins.
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smokeriderdon's Avatar
United States
3755 Posts
 Posted 01/02/2014  6:34 pm  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
As is my routine, I turned on The Coin Vault and lo and behold...

2014-Silver-Eagles

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BamaBlue's Avatar
United States
624 Posts
 Posted 01/02/2014  6:52 pm  Show Profile   Bookmark this reply Add BamaBlue to your friends list Get a Link to this Reply
Whoa... Is that really $9.96 shipping cost?
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ArrowsAndRays's Avatar
United States
1659 Posts
 Posted 01/03/2014  08:21 am  Show Profile   Bookmark this reply Add ArrowsAndRays to your friends list Get a Link to this Reply
re Coin Vault:

$70 for $20 worth of silver in a plastic case?
There's one born every minute.
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Merc Man's Avatar
United States
561 Posts
 Posted 01/03/2014  09:44 am  Show Profile   Bookmark this reply Add Merc Man to your friends list Get a Link to this Reply

Quote:
So merc, you need to change your statement to say ANY slabbed coins may as well be ungraded because all four do it.


With all due respect, what I typed was my OPINION and I presented it as such. I am perfectly entitled to it no matter what you think. In my experience ANACS routinely over grades compared to PCGS and NGC. As always, buy the coin not the slab but some slabs are more trustworthy than other IN MY OPINION. So thank you for calling me out but your comment did nothing to change my OPINION.

I am not trying to cause trouble here but nothing irritates me more than when members tell other members on here that their OPINIONS aren't valid. It is one thing when people try to pass off their OPINION as gospel but that isn't what I did. In my opinion ANACS is a second-tier TPG.
Edited by Merc Man
01/03/2014 09:45 am
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denco7's Avatar
United States
2543 Posts
 Posted 01/03/2014  11:15 am  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply

Quote:
Couple things here. Quit slamming ANACS. They ALL do it. PCGS, NGC and ICG as well. You can pre purchase them from virtually anywahere. Go check places like APMEX and other "respected" dealers. They do it as well.


And ........... my original post on ANACS had nothing to do with pre-sales or pre printed 2014 labels.

And........ all the TPG's do not do what ANACS does. Only ANACS numbers their pre-sales into a first day of issue set. And only for HSN. The bullion coins are not even available for ORDERING until Jan 13. and I challange you to find any pre numbered, pre graded set of first strike or early release labels from NGC or PCGS much less promises of such a set for one vender.

APMEX is pre selling, but not promising delivery until Jan. 31. And yes, they are promising to have some MS70's because as you said, out of 50 million coins, the chances are APMEX, being 1 of only 11 Authorized Purchasers, will probably be able to get their hands on a few NGC or PCGS MS70's.

My observation only included ANACS pre slabbing 2013 Eagles in a limit edition 2014 slab for HSN to give the impression the coins were already out. And already promising HSN an exclusive set of pre graded 16,589 MS70 Eagles, despite the fact that they haven,t even seen the coins yet. What if the catastrophic and truely unexpected happens and the quality is called into question. The Canadian Wildlife series comes to mind. Six coins, 1 million mintage each, not even one NGC or PCGS MS70. Yes the odds are that since, lets say 30% of past ASE's have graded MS70 in the past, ANACS will be able to deliver this set.

But I stand by my questions of appearance and propriety. Does ANACS set the terms ? " You need to start out sending us 56,000 Eagles and as many more monster boxes as we deem necessary until we get 16,589 numbered slabs ?" or as probably ANACS' biggest customer and single source of income, does Mike Mezack say "here is 50,000 coins, we NEED 16,589 MS70 first day of issue slabs." And again, what if ,after 1100 monster boxes, ANACS still needs 100 more coins to get their " quota " . Do they send 500 coins back for regrading? Or do they tell their " best customer " he needs to take another dip into his profits and buy more sealed monster boxes from his AP to send to them ?

It is these kinds of pre-promises and cozy relationships that give the wrong appearances for ANACS and NGC and PCGS do not do this. That was the point, not labels and pre sales. Oh ........ and the profitability of preying on insomniacs with credit cards.

And for an agency that is so strictly regulated by the Sec of the Treasury and the U.S. Congress, you guys give the impression that they run pretty fast and free with congressional laws and regulations that they are supposedly bound by. Some sources would be nice. Such as pre-dating coins and circumventing the highly regulated AP system for bullion distribution.
Edited by denco7
01/03/2014 11:18 am
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smokeriderdon's Avatar
United States
3755 Posts
 Posted 01/03/2014  11:58 pm  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
merc, you said


Quote:
They don't.

Which is why, right or wrong, ANACS slabbed coins may as well be ungraded in my not so humble opinion.


This was in response to Denco's statement...


Quote:
How does a company uphold the appearance of trust and objectivity when they make deals like this ?


Nowhere in any of that is there any discussion at all of whether ANACS grades on the same scale as PCGS or NGC. You made a statement based on the discussion at hand of preselling and the like. I refuted that. Simple. Now, if you want to discuss the supposed superiority of PCGS and NGC, we can beat the heck out of that horse some more if you like. But not what were discussing here at all.


Quote:
nothing irritates me more than when members tell other members on here that their OPINIONS aren't valid.


OK, you know what irritates me? When people make a statement attacking the integrity of a person or business and then couch that in "I am allowed to have my opinion". And I DO think your opinion is not valid. But thats just MY opinion.


Quote:
my original post on ANACS had nothing to do with pre-sales


It had EVERYTHING to do with pre sales. You went on about the coins sold that he did not even have. That would be, by definition, pre sales.


Quote:
Only ANACS numbers their pre-sales


Ummm, so what? They are going to slab the coins. That is a fact. Same for the other TPGs.

Next fact. For the last at least ten years, ANACS and the others have slabbed and graded ASEs with a certain percentage over that time grading at MS70.

So given that, what difference does it make that they said we will do a special numbered label for you for the first 16,589 that grade MS70. This is NOT an issue if the average for the last ten year has been 20,000 of them. And I do not see them agreeing to that number unless it was a good bit below the average number.


Quote:
What if the catastrophic and truely unexpected happens and the quality is called into question


Great question! IT APPLIES TO ALL OF THEM. PCGS and NGC are pre selling as well. They are pre selling as many IF NOT MORE than ANACS. It doesn't mean a darn thing if theirs are numbered or not. If they can not meet thewir pre sales, they are in the exact same boat. So the same answer you would give to defend PCGS and NGC applies to ANACS.

ANACS and PCGS and NGC all have to answer to their buyers. If you are so naive as to believe PCGS and NGC do not have the exact same type of agreements with Coin Vault, Modern Coin Mart, APMEX and all of their large customers, I have a bridge to sell you. Here is what they do.

They release a statement saying the quality of the bullion ASEs for 2014 was severely below the standards of years past and not nearly the number of coins graded at MS70. Then APMEX, Modern Coin Mart and everyone else who pre sold now have to refund the money. And it does not matter one whit whether those are numbered or not.

And you keep going on about they make it seem as if they already have the coins. I saw the same sale. He said it was a pre sale. They ALL say it is a pre sale. I have never seen any of them not say it was a pre sale.


Quote:
It is these kinds of pre-promises and cozy relationships that give the wrong appearances for ANACS and NGC and PCGS do not do this.


OK, right. So you want us all to believe that PCGS and NGC do NOT have agreements with their big customers? That these big companies are pre selling PGCS and NGC coins exactly the same as ANACS, but with no agreements in place? REALLY? Come on now, as I said, you can NOT be that naive. If this is all based in your fixation on them numbering some slabs, then you really are missing the realities here.

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basebal21's Avatar
13014 Posts
 Posted 01/04/2014  12:56 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
So the same answer you would give to defend PCGS and NGC applies to ANACS.


PCGS and NGC arent preselling or promising anything. Companies that use their service are preselling what they assume they will get. The 2013 ASE set fell way below expected 70 levels which caused some problems with this and presales were cut off short. Once the grading company takes the extra step of numbering them and giving them a max number the company is actively engaging in part of the presale process.

The difference in appearance though is that PCGS and NGC dont need any single relationship to be just fine. Every single notable graded coin of significant value is in a PCGS or NGC slab. Whether or not a single year of bullion coins falls short a Silvertown isn't in a position to pressure them to do anything, they would be just fine either way. If anything places could just charge more for the ones they did actually get like the 2013 ASE set.

ANACS on the other hand needs the relationship with HSN and Mike Mezack. He really would be in a position to say theres other grading companies out there if they made him look like a fool promising something he couldnt deliver. THATS where the appearance of favoritism comes from.

For the record I think ANACS is trash. They just destroyed a beautifully toned Barber quarter two weeks ago trying them out for the first time. So yes I do see why the market treats them as a second tier company.




Quote:
And for an agency that is so strictly regulated by the Sec of the Treasury and the U.S. Congress,


Not for day to day operations, just when it comes to what can actually be produced in what metals and designs. As long as they dont change the design or start releasing 2015 coins in a couple months because they dont like the 2014 ones no ones going to come kicking down their door.

There isn't a law enforcement agent in the country that cares if they were minting 2014 coins in November/December of 2013. Congress wouldnt care either, its not an issue they can campaign on. All the mint would say is we were getting a head start to make sure we can meet the demands of next year and there wasnt a currency shortage and that would be the end of it.
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smokeriderdon's Avatar
United States
3755 Posts
 Posted 01/04/2014  06:47 am  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
Basebal, if you are going on a TPG trashing a coin one time then put PCGS as a basement slabber too because they have done the same. No different.

Again, you take the numbering of the coins as some indicator of nefarious dealings. You are all doing that because of your prejudice against ANACS. At the same time you are sticking your heads in the sand as to the practices PCGS and NGC have. As I said to denco and will say to you sir, I cannot believe you are so naive as to think PCGS and NGC dont have deals with the big boys they deal with.
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Merc Man's Avatar
United States
561 Posts
 Posted 01/04/2014  08:55 am  Show Profile   Bookmark this reply Add Merc Man to your friends list Get a Link to this Reply
I stand corrected. Let me clarify, I think ANACS over-grades to create repeat customers in order to grow their business. I have no proof of this, it is just my gut feeling. Obviously, I have a very low opinion of ANACS so what I should have said is that it would in no way surprise me if they were making backroom deals with their bottom line in mind more so then their integrity. This may be a totally unfair opinion, but it is mine and none of the "proof" you have provided has swayed me in the least.

I am not trying to antagonize, I greatly value your posts smokeriderdon and have learned much from being part of the community. I will politely step to the side and let you guys hash this one out.
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