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 Replies: 19 / Views: 2,282 |
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Pillar of the Community
United States
5853 Posts |
As I mentioned in an earlier thread in a different forum, I had the chance to visit the U.S. Mint offices in Washington D.C. and decided to pick up the 2012 American Eagle Gold Proof Four-Coin Set as a "souvenir" of my visit. Although the price of gold had just risen above $1650 the previous day, the prices hadn't been adjusted yet and I was still above to get the set at the prices for the $1,600.00 to $1,649.99 range [if you don't know what I mean, check out the United States Mint Coin Pricing Grid. Basically, it means I paid $3,493.00 for the set instead of the current price of $3,585.50]. Anyway, I decided to get the proof coins instead of the uncirculated versions because (a) I liked the idea of buying an entire set and the fractional denominations weren't available in uncirculated versions and (b) I just like proof coins. The price difference wasn't that much, and I actually saved $50 buying the set as a whole as opposed to buying each coin separately. Here's the thing, though... These are described on the Mint's website as being "collector versions of the official United States Mint American Eagle Gold Bullion Coins and are available in limited mintages." As far as I can make out, they minted 30,000 of the sets but there are also an additional 30,000 individual 1 ounce proof coins available (as well as 10,000 of the 1/2 ounce, 12,000 of the 1/4 ounce and 25,000 of the 1/10 ounce). My question is whether these "collector versions" are actually collectible in the sense of increasing in value above and beyond their bullion value. And the reason I ask is because the Mint is apparently still selling the 2011 set for the exact same price as the 2012 set, which indicates to me that (a) they aren't really in demand by collectors and (b) aren't likely to increase in value beyond their bullion value. I don't have any data for earlier sets, though, so maybe it takes a few years before they start appreciating in value and sets from, say, 2009 are selling on the secondary market for much higher. Thanks in advance, and as a reward to anybody who actually made it through that wall of text, here are some nifty pictures of the set I bought:      |
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Pillar of the Community
United States
3486 Posts |
Quote: "My question is whether these "collector versions" are actually collectible in the sense of increasing in value above and beyond their bullion value." The short answer is "no." At first, a special issue dramatically increases in price. The the bottom drops out of the market, and it takes YEARS for the market price to come close to the issue price. For "special issue" I am thinking of the Statue of Liberty commemorative. At first, the price was bid up. Then for years it remained well below government issue price. A set of 2012 AGEs is nothing special. Except as a memento of your visit. And thus highly dependent on the bullion price of gold. Cherish it for what it is. Others will come back with different opinions. As for making it through the 'WALL OF TEXT" I do so willingly if the poster is sincere. You are sincere. Off topic: On the Kitco forum, some time ago, the same question was asked over and over again: "I haven't as yet received the five sets of the 25th Anniversary of the ASE which I ordered from the mint. How much can I sell them for?" As my father would say, "SPECULATORS!" He then would just simply shake his head and frown. |
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Bedrock of the Community
Australia
21788 Posts |
Seems to be all a marketing ploy to me!
The "Collector" issues are just presented in classier packaging.
You still buy the COINS because you like them.
Classier packaging usually has no influence on the coins' aftermarket price.
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Pillar of the Community
 United States
5853 Posts |
Well, the "collector" issues are actually proof versions of the standard "uncirculated" coins, so there is a significant difference. I think you're argument would better describe the difference between the bullion version available from dealers and the "uncirculated" versions available from the mint in a nice package.
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Bedrock of the Community
United States
36745 Posts |
barry you've got a nice set. I think these will always be tied more to bullion than as a collectible. These are just far too expensive for the average collector to buy, so the market becomes very limited. Proof Silver Eagles are a different story because most collectors can afford to buy and collect those.
Enjoy your set and the higher gold prices that are to come.
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Pillar of the Community
United States
5853 Posts |
Quote:
Enjoy your set and the higher gold prices that are to come. Thanks, I plan to! |
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Pillar of the Community
United States
5830 Posts |
I think these are great for people saving a set or few sets in their IRA account, someone that wanted to diversify their holdings, these hold better value than their regular bullion brothers.
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Bedrock of the Community
13014 Posts |
There is a collectors market for these, the problem is the market is smaller than the mintage which does make them act more like bullion like mentioned above.
Not that many people can afford to collect gold right now, and of those that can not every one is willing to with how much it could drop.
That said its a great looking set and hopefully well see a nice gold spike and you can make a pretty penny off them
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Pillar of the Community
United States
3486 Posts |
To "make a pretty penny off them."
Where has the simple joy of buying and holding gone?
Not for profit, but for the pleasure of owning, for a while at least,
a nice looking coin or coins.
Profit comes to those who follow this strategy.
Disappointment surely will be the reward of those who try to play
the game of speculation.
MY strategy: try to make an enemy each day with my non-conformist
approach to coins.
I BUY TO ENJOY, and not for a quick profit.
Edited by matthewvincent
09/04/2012 4:03 pm
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Pillar of the Community
United States
5853 Posts |
Matthew,
I don't know if your comments were addressed to me or just in general, but I am primarily a coin (not bullion) collector and only buy PMs as a long-term hedge against inflation. Even if gold hits $2500, I have no plans to sell this set, hoping instead to either hand it down to my son one day, if possible, or else sell it to stay alive in my retirement years, if necessary. In fact, the main reason I bought this particular set was simply because I liked the looks of the proof coins and had no idea until later that these were supposed to be "collector" coins.
Still, it's always nice to know whether the "collector" versions might have better long-term investment potential than the normal "uncirculated" versions, which is why I ask.
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Pillar of the Community
United States
3486 Posts |
barryg,
to you in particular and to those reading.
If you like the coins then no one's opinion, mine included, matters much.
But I would add that uncirculated versions of coins made in "proof" have often out performed their proof counterparts. A question of mintage.
Absolutely, positively, you bought the set for the right reasons.
You should enjoy them forever.
Now, the more important question is this:
How do you plan to instill in your son the same appreciation of this set as you have?
Coins are, and have always been, a family hobby.
Do not loose out on the opportunity now facing you.
"My dad bought this set when he was in Washington.
He and I spent many happy hours talking about it.
And I am so happy that we did."
Edited by matthewvincent
09/04/2012 4:40 pm
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Bedrock of the Community
13014 Posts |
Quote:
Where has the simple joy of buying and holding gone?
Not for profit, but for the pleasure of owning, for a while at least,
a nice looking coin or coins. Hasnt gone anywhere which is what I do with the vast majority of coins. That said there does come a point where with enough value increase it would be hard to say no  However for gold coins I feel differently. Id love to get some but not currently where gold sits, theres just to much downward price movement that can happen. Which is why I personally would flip them with a nice price move and wait to get back in when the market is lower or more normalized where it should be but doesn't mean thats right for everyone |
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Pillar of the Community
United States
5853 Posts |
Quote:
Now, the more important question is this:
How do you plan to instill in your son the same appreciation of this set as you have? No worries there, mate! He is more obsessed with collecting than I am and already has a half-full 7070 album of his own... |
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Pillar of the Community
United States
3486 Posts |
You have fathered a little monster, barryg!
Good for you, but don't let him bankrupt the family.
"Oh dad, I just have to have this one!"
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Pillar of the Community
United States
5853 Posts |
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Pillar of the Community
United States
4008 Posts |
Quote:
"Oh dad, I just have to have this one!" THAT is the time and place for Dads to say, "Well, good. Get a job so you can afford it!". |
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Replies: 19 / Views: 2,282 |
Posted 09/04/2012 10:50 am
