1999 Millennium Quarters $121? How Is This Possible?

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Author	Replies: 7 / Views: 11,026
CC-Ottawa Pillar of the Community Canada 3690 Posts	Posted 02/21/2012 8:46 pm A recent sale on the Government's surplus site: http://crownassets.pwgsc.gc.ca/mn-e...sf=ferm-clos And there were five 12 coins sets that each sold for over 100 dollars. I believe that these were $24 back in 1999 and routinely can be purchased now for $10-12 from dealers. Why did someone pay 10 times their value? Other coins that sell on this site are greatly overpriced too. I just can't figure it out. Can anyone help me understand this? Report this Post to the Staff

XavierOfGreen Pillar of the Community United States 2589 Posts	Posted 02/21/2012 9:04 pm People tend to go nuts on government auctions and pay way more for common items than what they are worth, especially coin related stuff. Report this Post to the Staff
1cent Pillar of the Community Canada 1051 Posts	Posted 02/21/2012 9:39 pm There is the possibility of September/November mules, but I'd call it a long shot at best. Report this Post to the Staff
CC-Ottawa Pillar of the Community Canada 3690 Posts	Posted 02/22/2012 10:57 am Quote: People tend to go nuts on government auctions I guess we'll go with the insanity plea. It's hard to believe that in a closed bid auction where people have a week or two to research value, that they would bid 10 times street prices. Oddly, when silver or gold bullion comes up for sale, it tends to sell close to spot rate which suggests knowledgeable buyers. I guess they just go crazy over coins in fancy packaging. Hopefully I can find them if/when I sell my collection. Report this Post to the Staff
canuck1us Pillar of the Community United States 1002 Posts	Posted 02/22/2012 1:35 pm It looked like there was another set on there that bids had not closed on yet that was up to seventy-something dollars! Better act quickly to get your set! Report this Post to the Staff
darryldarryl Pillar of the Community Canada 2427 Posts	Posted 02/24/2012 08:48 am I would say that these were sets holding the mule coins! Report this Post to the Staff
silverdollarnuts Valued Member Canada 242 Posts	Posted 02/24/2012 10:39 am it was probably the silver ones...they made some all in silver that was selling for around that price.. Report this Post to the Staff
CC-Ottawa Pillar of the Community Canada 3690 Posts	Posted 02/24/2012 1:14 pm Not silver; at least the pictures are not the proof silver sets. There is a very slim possibility that all 5 sets had the mules but that is unlikely IMO. The 2000 set sold for $111. Again current retail is under 10 dollars. I think XavierOfGreen nailed it. People are crazy. Report this Post to the Staff
	Replies: 7 / Views: 11,026

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