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 Replies: 17 / Views: 4,529 |
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Valued Member
United States
109 Posts |
I received an email today indicating there would be a household limit on the coins. It linked to this on the Mint's site: http://www.usmint.gov/pressroom/?ac...ease&id=1564I am curious if this is a good indication of the coin(s) future potential? I have only started collecting coins (ABT 5 oz is my first) and am thinking this would be a good item to pick up. Any thoughts? Relevant portion of the mint's link: WASHINGTON-New feedback that indicates extremely strong demand for the 2014 National Baseball Hall of Fame Commemorative Coins, and a commitment to satisfy all customers, has prompted the United States Mint to impose new household ordering limits. The coins go on sale at noon Eastern Daylight Time (EDT) March 27. The household order limits are: •Proof and Uncirculated $5 Gold Coins - 50 coins each •Proof and Uncirculated Silver Dollars - 100 coins each •Proof and Uncirculated Clad Half-Dollars - 100 coins each "These coins commemorate important aspects of American history and culture, so we want to make sure a maximum number of customers have an opportunity to purchase this coin," said United States Mint Deputy Director Dick Peterson. "We had anticipated strong interest in this coin from the outset. However, the interest in the past few days prior to the coin even going on sale has caused us to take this action. We will evaluate these ordering limits on a regular basis and adjust or remove them accordingly." *** Moved by Staff to a more appropriate forum. *** |
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Pillar of the Community
United States
4901 Posts |
I consider "household" limits to be 1, 5 or 10...not 50 or 100. So you can drop $21,000 on the gold proof and $5200 on the silver proof and still be within the "limits" Kind of pointless since the dealers could get hundred or thousands of what they want even if the household limits were 1, 5 or 10. I haven't decided on this one yet.... Probably better to continue with the ATB pucks instead... Edited by Foxwoods Man
03/26/2014 3:28 pm
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Rest in Peace
United States
4078 Posts |
This is the first time the mint has produced a convex/concave coin. This is an interesting Commemorative that should draw a lot of buyers. You also pay a high price. The proof silver dollar is $51.95 intro: price. This would be my interest. The gold and clad information is at their web-site.
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Pillar of the Community
United States
4409 Posts |
Household limits are meaningless to dealers purchasing bulk quantities. Section 6b: Quote:
The Secretary shall make bulk sales of the coins issued under this Act at a reasonable discount [quote]
Section 6c:[quote]The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins http://www.gpo.gov/fdsys/pkg/PLAW-1...2publ152.pdf-MV |
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Bedrock of the Community
13014 Posts |
Quote:
I am curious if this is a good indication of the coin(s) future potential? The short answer would be yes and no. The limit itself generally doesn't mean a ton, but the fact that they put one on it shows they expect this to be a very popular coin which it should be. No commem has gotten the type of press this one has in a long long time if ever. Like mentioned its the first curved coin which also has a very pleasing design from a subject matter thats very popular. The potential is certainly there being one of the few coins with the ability to draw in non commemorative collectors and really non collectors in general. That said the mintage limits for most are still high, but the 2001 buffalo ended with a high mintage for the series and its still going strong price wise. |
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Pillar of the Community
United States
899 Posts |
"Household limits are meaningless to dealers purchasing bulk quantities." The mint doesn't offer everything they sell in bulk. The commemorative coins aren't listed in the bulk program, so the limits obviously will apply. Numismatic Bulk Purchase Program (subject to product availability) Under the current terms and conditions of this program, a five percent discount is applied to all purchases of $5,000.00 or more of qualifying coins and products. Additionally, a shipping and handling charge of one percent of domestic orders and two percent for international orders will be assessed on each order processed. First Spouse Gold Coins United States Mint Proof Set® United States Mint Silver Proof Set™ United States Mint Uncirculated Coin Set® American Eagle Gold and Silver Proof and Uncirculated Coins American Buffalo Gold Proof Coin United States Mint Proof Set® United States Mint Silver Proof Set® United States Mint Uncirculated Set® United States Mint America the Beautiful Quarters Proof Set™ United States Mint America the Beautiful Quarters Silver Proof Set™ |
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Valued Member
United States
317 Posts |
We'll see, but the silver HOF coins look like another hype coin like the Reverse Buffalo and the Westpoint ASE set of last year of which both in government packaging or graded 69 have small premiums today. Even the gold HOF commemorative issues might not be a good option to buy either because the average collector isn't going to put down $425 on a gold commemorative. That's been shown the last few years with the dwindling gold commemorative mintage numbers. So if the gold HOF sells out I'm guessing its coming from dealers looking to flip them and if it sells out, it'll be one of the highest minted gold coins in many years from the Mint. The Civil Rights coin has sold 45k proofs and nearly 19k in uncirculated coins in only 3 months of being available but the sales numbers have dwindled to only a few hundred every week. If you're looking for a silver commemorative for solely investment purposes, I'd probably look at the Civil Right Coins than the HOF coins, but let's give it time and see what develops. |
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Pillar of the Community
United States
4409 Posts |
Thanks for clarifying that Doug.
-MV
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Bedrock of the Community
13014 Posts |
Quote:
I'd probably look at the Civil Right Coins than the HOF coins I disagree with that. Mintage is an overrated aspect of value. The Civil Rights coin like the Girl Scouts will be one that mainly series collectors get. The number of people that just get that one or non collectors will be minimal at best. The 2001 buffalo commems have some of the highest mintages of the series with well over 200k of each version sold, but they have a huge premium. High interest items generally perform better from a price standpoint. Otherwise gold spouse coins would have massive premiums with their mintages |
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Valued Member
United States
317 Posts |
That's an interesting comparison of the HOF coin with the '01 Buffalo. We'll see if the HOF sells out in a month like your ‘01 buffalo comparison locking people out who actually want it and see if there are a massive amount of flippers trying to unload the HOF coins like last years given examples. HOF mintage max of 400k across silver options is not a lot when the Boy Scouts coin went over 300k during the course of a year.
I still like the Civil Rights coin although its still early in the year. The ‘97 and ‘98 African American themed coins carry a nice premium with the exception being the ‘07 Desegregation coin. But we'll see how things go since there is still a lot of time left in the year.
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Pillar of the Community
United States
899 Posts |
Penny - if this was the end of the year and both coins were still available to purchase... I might see buying the CRA coin over the HOF coins. That is about the only way I could see trying to decide which might have a better resell value.
That said, the CRA coin will be for sale for the rest of the year and has been dramatically under performing so far and the HOF coin is going on sale later today and has drawn so much response from the buying public that the mint has put buying limits on them before they go on sale... so I would probably lean heavily towards buying one now and not waiting until December to see which might be the better buy. The HOF coin is the 1st of its kind for the US Mint - has been heavily advertised - and has a large target consumer public to draw from. Add to the fact baseball season starts next week and surely word of mouth will spread... I expect the gold to sell out relatively quickly and silver to follow in a short period after that.
Also - the 350,000 Boy Scouts silver coins...sold out in 30 days, not over the course of a year. The 2001 Buffalo sold out in 2 weeks, and the 2009 Lincoln coin sold out in about 45 days. There is a history of sellouts in commemoratives.
If nothing else - I think we will get to see how the mints waiting room and new cart system work later today.
Edited by Doug58s
03/27/2014 07:08 am
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Valued Member
United States
317 Posts |
Thank you for the correction Doug. I'm still a little wary of hype coins.
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Pillar of the Community
United States
899 Posts |
Ok... the waiting room isn't all that. Hit the mint site and at noon - it sent me to the waiting room with a 30 some odd minute wait... and then went up over 50 minutes...and still not in to order. The coins are all back ordered already as well.
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Valued Member
United States
64 Posts |
Got through on the phone at 12:20. no problems
order number:42921XXX.
Will cancel if no sellout in 48 hours
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Pillar of the Community
United States
899 Posts |
Well... this is no fun at all. Mints site froze - locked my computer and I ended up after sitting for about 10 minutes - having to reboot. Lost my order and the mints phone line drops when you call...nice.
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Valued Member
 United States
109 Posts |
Ok, Newbie question, but why is the HOF coin considered a commemorative if they are $5 (Gold) and $1 (Silver) coins? Doesn't the mint giving them a dollar figure make them actual legal tender that could (heaven forbid) be spent for their face value, therefore making these modern coins (just like the ASE)? |
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Replies: 17 / Views: 4,529 |
Posted 03/26/2014 2:25 pm
