| Author |
 Replies: 60 / Views: 6,014 |
|
Pillar of the Community
United States
6326 Posts |
One coin shop guy told me last week that he wouldn't pay any more than $500.00 for my Proof/MS 69 ASE 5 coin set. I know that the prices have come down some on the "RAW" Sets....... but WOW ! He says he's CONFIDENT that we've already seen the highest that these Sets will reach, and he would be risking his money by paying any more than that for my Set. He says he was pretty sure there would just be that "bubble" frenzy, and then that would be it. He's not sure just how low they will go over the coming weeks and months, but he thinks it will keep coming down. Needless to say.....I paid so much "extra money" to have mine have the "First Strike" label (of which I'm NOT a fan of)....the packaging to send them...(even had to buy special tape to seal the box!).....the postage.......the insurance for the package.....the fee's and costs for PCGS to grade them........spent the $600.00 initial money plus shipping to buy them from the US Mint (plus interest on the credit card!)....  Are they gonna just keep tumblin' down in price ? Of course nobody knows for sure....but in this "Ultra Modern" time.....the Mint products DON'T seem to increase in value.....EVER ! (after the "bubble" anyway) Sell for $500.00 and just take my " whack in the knees?" .....the Wife will still be livid at my "expense to profit ratio" on the whole ASE mania thing. After all I said.........after all I showed her how crazy the prices were getting----while I was waiting for mine to come back from grading. I dunno.....not very pleased....don't know what to do. |
|
|
|
Bedrock of the Community
 United States
12845 Posts |
Well if you're concerned that the prices are going to tumble, sell and take your lumps; cut your losses before they get worse. I see ungraded sets going for $650 on ebay. What would you have to sell for to break even? $300 for the set + shipping to PCGS + grading fees + interest on CC + ebay & PayPal fees. ebay fees and shipping may make it easier just to sell to the dealer who's offering you $500. Did you spend more than $200 per set on shipping and grading fees? You might get some hits on CraigsList too. I see in my area 3 sets listed from $625 - $675. No fees there. |
|
Pillar of the Community
United States
4897 Posts |
Sounds resonable. Most 69 sets are selling for $700-$750. Hate to say it but 69 on eagles really hold no premium over raw coins...IMO
|
|
Pillar of the Community
United States
7840 Posts |
Yeah, how about that "paper filament tape" for USPS Registered Mail? My post office did not even have it available to sell, let alone having to use it! I found a roll at a store that sells boxes and ships out packages...$8.00 a roll. We all knew that the prices would come down eventually, there is another thread about how there are fewer and fewer 25th Anniversary ASE sets that are available RAW. I don't see the prices for the raw sets exceeding the TPG versions, although they do look nicer in their original capsules. This "dealer" is more than likely "low-balling" you to see how desperate you are to sell. I have had it happen a couple of times. Picked my coins up off the counter, looked him in the eye and said "thank you" and turned to leave only to be offered a higher amount when he knew that I was outta there. The higher offer was still not "enough" Edited by oih82w8
01/29/2012 2:03 pm
|
|
Rest in Peace
United States
9104 Posts |
Quote:
He's not sure just how low they will go over the coming weeks and months, but he thinks it will keep coming down. If he didn't want them when the mint had them, why would he want them now? I sure wouldn't pay much unless I had a standing order from a customer. |
|
Bedrock of the Community
United States
10038 Posts |
If ungraded sets are going for 650.00 on ebay - offer it here on ccf - someone would probably be willing to go the 500.00 - maybe a little more. |
|
Pillar of the Community
United States
1903 Posts |
My big question is......why put them on the credit card at 10-20% interest when you couldn't afford them in the first place? If you were planning on making a profit on them fast enough to pay off the card before it was due,sending them to a TPG was not the way to go. Sounds to me you set yourself up to lose from the get-go. Not trying to be mean, just being honest and realistic. Coming from a retail background (22 years) you really need to look at the endgame picture and minimize your risk even if it means less profit. Less profit is better than a big loss. |
|
Pillar of the Community
United States
1150 Posts |
These sets aren't going to become scarce any time soon and that is why I didn't buy into the craze. However, I'm sure you could sell it on craigslist or ebay and at the least recoup your investment. |
|
Pillar of the Community
Canada
1610 Posts |
Why would you want to sell it, eaglefoot, after only a few months that you've had it.
|
|
Pillar of the Community
Canada
1610 Posts |
Unless you just wanted an idea of what you could get for it.
|
|
Valued Member
United States
325 Posts |
I'm with the unholyroller, I'd liken it to real estate flipping, someone ended up at the downturn. Don't feel like that's a big knock on you but seeing into the future is something most of us don't do correctly too often.  |
|
Valued Member
United States
240 Posts |
I know a shop near me has a couple ungraded sets going for $500.00.
They've Been up for sale for the past month but no takers so far.
Edited by spring423
01/29/2012 2:25 pm
|
|
Pillar of the Community
United States
1817 Posts |
$500.00 wholesale for PF/MS69s, sounds reasonable given that the craze for these sets is ebbing, however, didn't think the downward side of the curve would appear quite so fast, since it's ONLY been 3 months since that crazy day! I'm curious if that survey handed just a week ago is making owners think twice about keeping this set long term and there is a mini frenzy of unloading the white elephants now that its day is seemingly over. More types of ASEs means 2011's are somehow less special?
|
|
Valued Member
United States
410 Posts |
ebay is the place to go if you want to find out the current price for something. Looking at completed auctions it seems the current price for a PSGS MS69 set is $700 to $800. You would lose about $100 to shipping costs and fees. That is still better than selling them to the dealer for $500. If you are paying interest on a credit card you need to dump them and pay off that card. You will never make enough holding them to justify paying credit card interest.
|
|
Pillar of the Community
United States
1406 Posts |
The same thing (almost) happened to me with the 2010 ATB 5 ozers. I purchased a few sets and wanted to send them in for grading as some of the graded coins were fetching crazy prices. I was lucky to decide to sell a set immediately for $2200.00. I did end up sending 8 coins in for grading and got (luckily) a Grand Canyon 69DC and a two hot spring 69DC's. So, for the three sets I bought, plus the grading I came away with one graded set of a mix of 69's (none DC) for around $500. By no means was this a home run. It was a lesson none the less. I remember when you asked everyone's opinions regarding the grading of these sets. I remember how everyone was pretty amped up at the time too. It's funny how everyone now is soo poo poo on what you decided to do. I feel for ya as I know what it is like to count your eggs before they hatch so to speak. Lesson is that I think the US mint flip game is getting really saturated and with all the new roll outs of special products I can see it only getting harder and harder to play with the big dogs. If you want to play the game, your gonna have to be ready to get burned from time to time. I often wondered why some flippers were OK with the MCM offers that were soooo much lower then what ebay prices were. Then you read stories of people who sell for great prices to bidders who never pay (happened to me with an ATB 5 ozer sale), who receive and then ship back for whatever reason (even though there was no returns), and all sorts of other problems. Then you come to realize that $50 or $100 over Us mint prices and the easy of just shipping your box to MCM is not that bad a deal. |
|
Pillar of the Community
United States
2651 Posts |
The coin shop isn't a collector...He is gonna resell it and needs to make a profit...So $500 seems fair to a shop. Try to find a collector that wants it and you can probably get a little more..
|
| |
Replies: 60 / Views: 6,014 |
Posted 01/29/2012 12:47 pm
