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Westward Journey Nickel/Medal Sets

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Susanlynn9's Avatar
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5877 Posts
 Posted 02/10/2005  12:09 pm Show Profile   Bookmark this topic Add Susanlynn9 to your friends list Get a Link to this Message Number of Subscribers
I was just thumbing through my Numismatic News and I saw an ad for the 2004 Westward Journey Coin & Medal sets -- priced at $95 each. I then took a look at ebay to see what was happening with the market there. Prices seem to be settling down there to between $45-$60.

I have a feeling that these prices may fluctuate yet again when the 2005 Bison Coin and Medal sets hit the scene. I predict a whole new market for the 2004 sets which I think will drive the prices back up.

Just my Two Cents
Pillar of the Community
United States
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 Posted 02/10/2005  3:40 pm  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
The crafty dealers will be putting together "themed" sets. A Buffalo nickel with the new Bison, A Bison nickel and Bison $10 Note, and combinations of the themes. I don't see the 2004 series making a comback though. Not enough meat in the market. The hype just isn't there.
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Susanlynn9's Avatar
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 Posted 02/10/2005  4:05 pm  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
You could be right, ND. I'm very curious to see what will happen though. The mintage on the 2005 coin/medal sets is supposed to be higher than the 25,000 for 2004. Since the 2004 is the first in the series (of 2), don't you think that more people are going to want the 2004 after they get the 2005 set?
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 Posted 02/10/2005  4:12 pm  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
What I use to judge the "modern" market is TV. These hucksters by far and away use the best techniques for pushing coins onto the market. Even though I hate what they do to the hobby, they truely drive the prices through the roof. They have stayed away from the 2004 series for whatever reason. This leads me to believe that the bottom will drop out of it. Just look at how they have pushed the 2004 Mint and Proof sets. The prices reflect a very active market. When a relatively new series drops so quickly, it is time to get out and look to tomorrow.
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Susanlynn9's Avatar
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 Posted 02/10/2005  4:21 pm  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
Very good point. I think I'm going to have to make time to watch some of those programs.
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 Posted 02/10/2005  4:25 pm  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
I make it a point to watch the late Sunday night show of CoinVault. They really come up with super ways to promote various ideas. I sit in my recliner with pen and paper and jot down ideas on how to put together sets. For small dealers who run ads in the local papers, these sets have appeal. If the price is listed along with the TV price, you can really make some quick and easy sales.
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nohope587's Avatar
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 Posted 02/10/2005  5:31 pm  Show Profile   Bookmark this reply Add nohope587 to your friends list Get a Link to this Reply
I knew I should have kept my spares a little longer I see 1999 all over again where I sold all my extra proof sets before prices whent through the roof. Buy high sell Low.....
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catman's Avatar
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 Posted 02/11/2005  12:05 am  Show Profile   Bookmark this reply Add catman to your friends list Get a Link to this Reply
You may think that 25,000 sets is a low mintage. Before embedding yourself into this line of thinking consider what the real demand is. Without the demand the value drops. If a dealer is stuck with 100 sets and can't sell them he will first drop the price. The next dealer can't sell his because dealer #1 cut his prices too much and that forces dealer #2 to drop his price. This happens until interest in the sets pick up and the demand increases.

catman
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 Posted 02/11/2005  09:58 am  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
Please take into consideration the inflated demand also. Dealers (especially large retail) will artificially inflate the demand numbers when it suits the needs. Hype comes in many forms and it is easy to fall prey to this. We all hear the stories of how rare the 1909-S VDB Lincoln is. Well folks, attend any large coin show and then come back and tell me how rare this coin is. There are an average of 20 to 35 at all major shows.
Catman makes a good point, but this only apply's to the medium to small dealers. When the big boys choose to correct a market price, they use the system to fool the collectors. How many articles have been written lately about the dealers cornering the small sets with mintages of 25,000? This is truely a load of garbage. The U.S. Mint could care less about catering to the dealers. They make their money on sets sold, not who is buying. Now with all the media attention brought to it, dealers in turn use this strategy to their advantage. Push the low number sets with ads relating to how quickly they sold out. People in turn pay more money. There are still plenty of 2001 Buffalo dollar sets found at all the major shows. Yet this set still commands a healthy premium?

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