8-8-08 - Page 2 - Coin Community Forum

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Author	Replies: 28 / Views: 2,483	Page: of 2

GO Moderator United States 6563 Posts	Posted 08/04/2008 10:26 pm Not a big Elvis fan.....but I AM in Memphis...... Report this Post to the Staff
ratio411 Pillar of the Community United States 1208 Posts	Posted 08/05/2008 8:31 pm Wow... the mint is looking more and more like those sharks that put common coins in fancy packaging. As for the "Chinese market" comments: The mint ought not worry with that market... They will make their own US coins! Report this Post to the Staff
daviscfad Pillar of the Community United States 4541 Posts	Posted 08/06/2008 12:31 am Report this Post to the Staff
eaglefoot Pillar of the Community United States 6326 Posts	Posted 08/06/2008 08:03 am 80% of China's population live in poverty. So, not many sale's there ! And the percentage of Asian Americans in this country is not very high, not compared to African Americans or Latino Americans which are about 17%. I don't see the need or interest for the "push" by Director Choy for this really.....and I expect that "sales" will reflect the bad idea that this is....8/8/8. Surely it wasn't motivated merely because of his "descent". Perhaps a bad business decision by Mr. Choy ?......we'll see how well they do "internationally" I guess.......too expensive for most of the world's citizens to purchase anyway. Edited by eaglefoot 08/06/2008 08:06 am Report this Post to the Staff
jbuck Moderator United States 195203 Posts	Posted 08/06/2008 11:04 am Quote: 80% of China's population live in poverty. So, not many sale's there ! 20% of 1.3 billion people is 260 million; looks like a sizable market to me! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
eaglefoot Pillar of the Community United States 6326 Posts	Posted 08/06/2008 11:26 am Actually on second thought.......isn't it the case that "Congress" legistlates and decides these ideas.......it wouldn't have been Mr. Choy the director of the Mint who had this done or "implemented" anything. Quote: 20% of 1.3 billion people is 260 million; looks like a sizable market to me! ...Jbuck strikes again !..... Of course, you'll look this up and I won't, but, just guessing that remaining "20%" are not "wealthy" ! In fact, I would guess that about one half of one percent would be considered "wealthy". The other 19 and a half percent might be "lower middle income" and a $1,100.00 American Buffalo coin would just NOT BE HIGH ON THEIR LIST OF THINGS THEY NEED AND WANT FOR THEIR FAMILIES!.......hmmmmm ? So, regardless of the "stat challenge" and sales predictions and likely feasible markets.....I bet I'm kinda right ! I wonder how can we ever know how many Chinese citizens have purchased this coin or set ?......(not counting Govt. officials, gold hoarders, and counterfeiting operators) Edited by eaglefoot 08/06/2008 11:38 am Report this Post to the Staff
jbuck Moderator United States 195203 Posts	Posted 08/06/2008 12:08 pm Quote: In fact, I would guess that about one half of one percent would be considered "wealthy". 6.5 million people! Maybe this will shed some light. Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Edited by jbuck 08/06/2008 12:11 pm Report this Post to the Staff
halfabustisbetter Pillar of the Community United States 1984 Posts	Posted 08/06/2008 12:12 pm People just don't want to overpay for bullion products. Also, in our common method of writing dates it's not all 8's until 2088. If the mint guaranteed my luck would improve it wouldn't be worth the premium. Report this Post to the Staff
jbuck Moderator United States 195203 Posts	Posted 08/06/2008 12:15 pm Quote: Also, in our common method of writing dates it's not all 8's until 2088. I still have nightmares about Y2K, so I am waiting until 8-8-8888 before I feel happy-go-lucky! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 08/06/2008 12:15 pm Quote: isn't it the case that "Congress" legislates and decides these ideas.......it wouldn't have been Mr. Choy the director of the Mint who had this done or "implemented" anything Since this technically isn't a new product, i.e. the coins already exist as separate items, it is just more of a repackaging of current issues in a similar fashion to the availability of single Pres proofs and a dollar set last year. Congress only gets involved when it is a design or composition change but the Mint can repackage to their heart's content and that appears to be what they are doing. Also, I would not assume that this is directed only at the Chinese market- the number 8 has meaning for most Asian cultures and many Chinese/Asian Americans still retain cultural symbols such as numerology. I think you may underestimate the affluence of the Chinese population. Yes, many live in abject poverty but they have a new money population that is growing rapidly and they want tangible assets- real estate, big cars(Buicks are huge sellers in China-more were sold in China last year than in the US), and precious metals. Report this Post to the Staff
neversuited1 Pillar of the Community United States 1121 Posts	Posted 08/07/2008 08:50 am If anyone would like me to build a nice wooden box that says 8-8-08 on it for $122.98, just PM me! Report this Post to the Staff
Jays-Dad Pillar of the Community United States 790 Posts	Posted 08/07/2008 09:42 am Don't forget that 8-8-08 is the start of China's first Olympics. There may well be a frenzy for these. The good news is that there is no limit on the production amount. Report this Post to the Staff
eaglefoot Pillar of the Community United States 6326 Posts	Posted 08/07/2008 10:24 am China is going to be the largest most powerful superpower the world has ever seen in about 40 to 50 years is my prediction. They are "emerging" right now.....basically copying us in a lot of ways. That is a threatening idea for my generation I think. And yeah, after considering everything mentioned here, the programs I've watched on China (China Rising), the modern cities with skyscrapers, etc. being built, the largest dam in the world, other monumental projects, etc. etc...Jbucks link provided ....Biokemists usual lucid wise words ...I say.....30 years ago I would have been right!......but the world is changing and China is changing with it and is evolving towards a direction unimaginable for us in the rest of the world. No one will be able to envision what China will be like as THE dominant power in the world 40 or 50 years from now. Certainly, if referring to the "whole Asian culture populous on Earth, these U.S. Gold Buffalo coins (& others) will "sell"........but focusing on China specifically was my "detour" route....So, their "affluence" in certain population pockets may very well produce some people who want to seek out a foreign nations gold coins.....and this "affluent" segment may have a HUGE number of numismatics who will "rush out" to buy our Gold coins....... So, I admit that there's more of a "market" in China, specifically, and not talking about all of Asia, for people wanting to buy a U.S. Minted gold coin, than I realized while typing away there... Edited by eaglefoot 08/07/2008 10:31 am Report this Post to the Staff
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