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Valued Member
United States
317 Posts |
I was thinking about buying two or three of the 2013 American Eagle West Point Two-Coin Silver Sets but with the price of metals falling like a rock I really cant see how the US Mint is justifying paying 3 times the value of 1 ounce of silver in a coin.
Yeah coins have a numismatic value but am I the only one having a problem paying $150 for about $45 (and still falling) worth of silver?
With the price of gold falling, I'm really thinking about picking up a 2013 5-Star Generals Commemorative Coin Program Three-Coin Proof Set instead. The San Francisco set had over 250k sets sold but the $5 gold coin has a limit of 100k and probably wont even come close to that number of sold units.
Anybody thinking about buying either set?
Any thoughts on the falling prices of metals
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Pillar of the Community
United States
899 Posts |
I am in for the new Eagles. While I do feel a bit of the pain over the price - I also know I bought silver for years at $8 an ounce (or less) and have few qualms about buying numistic coins that I like - for more than the face value of them.
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Bedrock of the Community
13014 Posts |
All the prices are going to have to get adjusted with maybe the exception of that set but even then the premium on that is really pushing it. The proof eagles right now are almost three times the price of silver. Of course theyll wait as long as possible and hope it rebounds but theres just no way they can keep charging the same when silvers shed 6 or 7 bucks in the last 3 days
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Pillar of the Community
United States
899 Posts |
yeah basebal - I agree... I am guessing the mint may adjust or may not - they may be hoping this is a burp and the prices will recover. It will make this set an interesting one to say the least - 3 weeks before it goes on sale and I am sure many will jump off the wagon - so who knows what this set will do now. editted to say - it is kind of funny that the mint waited to post the price of this set until last Friday and had they waited until this Friday... the perception of the price might be totally different.  Edited by Doug58s
04/15/2013 4:19 pm
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Bedrock of the Community
13014 Posts |
I do think the 2 coin set could be the one thing that would be able to survive the current price, it is a new ASE and an RP so most people will still buy it maybe just not at the levels before. But no way they can keep selling the proofs for 60+ or ask 50+ for an uncirculated one unless they decide to put a low mintage limit on them. I think wed is the day they make their silver adjustments if I remember correctly, so itll be interesting to see what they do. 10 dollars should probably come off every ounce right now. Im actually really curious what theyll do with the 5oz pucks. They wanted to raise the price to 250 and I really doubt many will pay that consider melt will be about half of that if this holds Edited by basebal21
04/15/2013 5:33 pm
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Bedrock of the Community
United States
11951 Posts |
I am sure I will purchase one set when ordering starts. I have been holding off on a order.. waiting for these sets. I also need both three roll ATB 2013 quarters. the Dollar UNC 5 star general coin. and .. is the Girl scout Unc dollar available? After about three weeks into the 2013 W ASE set ordering period I will decide if I should order one or two more sets. Edit .. as for the price .. and silver dropping .. I paid $1,111.16 for a Lincoln Cent .. I think $75 each for a couple, hopefully, low mintage silver dollars is not to bad. Of course I would not mind it ... if they got a little cheaper. Edited by GR58
04/15/2013 5:53 pm
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Pillar of the Community
United States
1770 Posts |
silver dropping yet the premiums remain the same the mint most likely will not adhust the set price - they know people are going to buy it regardless when it comes to the mint silver prices out the window its a collectors market - yea right
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Pillar of the Community
United States
899 Posts |
The mint has pulled a lot of the silver items back for repricing... so who knows perhaps they'll consider this set. Then again the comparable item to this set would be the 2012 Limited Edition Silver set and it is still siting at $149... The 2013 Proof and the 2012 Dollar set are off the table for ordering today. (probably others I just didn't look)
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Pillar of the Community
United States
4901 Posts |
The Mint will not adjust the price. It will start off the 1st week with a bunch of sets sold (dealers) then drop off the next two weeks.
This will create a perceived rarity and the last week of sales will see a surge in numbers
This will dispel the "perceived rarity" concept and a lot of those sets will be returned. This will result in lowering the totals to be a reasonably low mintage set but not anywhere near the 100k days..probably a tad higher than the SE set.
Just a thought.....
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Pillar of the Community
United States
899 Posts |
Well... I know my buying this week is now pretty much done. Until silver finds a stable place to settle - I am not buying anything. I doubt this set will drop - but who knows how many will buy it now that the price is seeking some truly large premiums and today perhaps getting larger. It might be like the ATB pucks and hit with really bad timing for this release. Bad for the mint - perhaps good for collectors based on volumes. |
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Valued Member
United States
149 Posts |
It seems like a bargain compared to Canada and Perth.
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Valued Member
United States
253 Posts |
No, I am not planning to buy any due to the price. They will probably go for more on the secondary market but I just don't want to spend so much for them. Just me.
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Bedrock of the Community
13014 Posts |
Quote:
It seems like a bargain compared to Canada and Perth. Imagine the secondary market premiums if the US Mint ever did a set with Perth mintage limits |
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Pillar of the Community
United States
4901 Posts |
Imagine the whining  |
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Valued Member
 United States
317 Posts |
I see the Mint reduced the price from 149 to 139 for the set, still too high for me. The mintage is going to be over 250k so nothing special there. I still can't find a justification for paying 3xs the price of silver. I'll wait til the end of the buying period to see if the price changes again.
How much does it cost to mint one of these coins anyway? Maybe I'm looking at this wrong and there is a real justification for asking three times the price of silver.
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Pillar of the Community
United States
899 Posts |
Penny - it depends on how you view these. If you are comparing these to bullion, then yeah the 3 x spot is a real bear to swallow. If you are a collector then you'll view the coins as a cool addition to the set. While not all of us are collectors, many of us are. This set also adds the uniqueness of a new coin and I am holding out hope they run the reverse through the new laser process as well. I tend to believe the value can or will go up after the production run is over, and most of the releases of the ASE seldom sell for less than the mint price on the secondary market. So unless silver really tanks and people just wholesale bail on the ASE and dump them after the fact... I don't see a fear in buying this set, other than the initial cost. |
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Replies: 50 / Views: 8,353 |
Posted 04/15/2013 2:59 pm
