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Replies: 24 / Views: 4,206 |
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Pillar of the Community
United States
584 Posts |
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Valued Member
United States
497 Posts |
Indeed a great letdown. You should at least be able to get a refund if not new coins. Good luck!
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Valued Member
United States
182 Posts |
Bummmmmmeeeerrrrr. Sad thing that as soon as you lick the stamp to send it back, they will announce a sellout, and resale values will drive you to keep substandard coins. Ouch.
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Pillar of the Community
 United States
2448 Posts |
I know how you feel. As a matter of fact I expect the Proof ASE's to be treated as a "Rush Job" and have major problems with QC. With a little over two months until year's end, what is our recourse if we receive sub-standard coins?
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Pillar of the Community
United States
1952 Posts |
all the sets had bad QC this year and part of last. I normally get 4-5 sets of each and never had problems before but this year I had to return 2 and last year 1. I was lucky that neither year was a good year for them cause I wanted the sets. I think they have a new guy there doing QC and he/she slept through my sets
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Pillar of the Community
 United States
584 Posts |
  These are the two coins. If you blow it up a little bit you can see the nice nick in one and if you look above America on both you can see the edge has spots that look like the rim on it. You can really see this on the right side of one of the pics. Am I being to strict on these coins. If I sent these in would they even grade. Thank You PS new to gold
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Bedrock of the Community
United States
10982 Posts |
Quote: Am I being too strict on these coins. If I sent these in would they even grade. Thank You
You're not being too strict but they will grade of course. The thing is, if they don't grade 70 then you wasted money submitting them and from what you say, and I see, they won't grade 70. I'd get replacements from the mint while they're available.
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Pillar of the Community
 United States
584 Posts |
I dont know ? I'm 30 years old and although the mint has been around a lot longer. I remember shopping very different than it is now. Every buisness earned the respect of the customers or mostly likely it failed. I hope its the new QC and this is just a transition stage. At least the option is their to return right. I called today and asked if they could put two to the side cause I'm sending both of these back. He would note my account but couldnt reserve the two. So now I have to pay for over night shipping so my mind will be at ease knowing I did everything I could if their sold out when my package gets to them.' I'm not sure how they get away with some of the things I received or better yet things that I never received do to their computer errors only to be told that has been discontinued. Or sold out. That happened a couple of times! So lets all do the perfect coin dance and hope the perfect one comes.
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Bedrock of the Community
United States
10982 Posts |
Don't bother to ship overnight. These will be available for a good long while. In fact, it would shocking if they sell out this month.
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Pillar of the Community
 United States
584 Posts |
Thanks Bherring, I was shocked when I called for the platinum Justice Coin a little while ago. Just a couple days after they were out and couldn't get one. And I love anything with the justice scale in it. Stems back to long hair with no cares. lol So I figured these would go just as quick, but the CS Rep said they should have enough. I want to send one in for grading to sell it online figured what I paid plus grading fee S&H then small mark up not like these wahoos who charge you an arm and a leg for what should cost a crutch. I'm with I need every dime I can get crowd being recently laid off. But yea just like you said if its not going to grade 70 then theirs no point in sending it in. Me personally I dislike when I see Modern coins with grades they should have. being fresh from the mint. But that's a whole other topic. LOL Thanks for the advise! I am going to send them bacy. Not going to ship over night as soon as I get the new ones Ill post the results.
Edited by amassey08873 10/14/2010 02:32 am
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Pillar of the Community
United States
6326 Posts |
Around the whole of Northeast Kansas, NOBODY is paying more than the days "spot price" for ANY Proof Gold !! So, the "nicks" wouldn't matter at all to someone just interested in the oz's. of gold.........downside: no one is willing to pay the "extra" for "Proof" material. I'm still considering selling an '06 1 oz Buffalo Proof, but I won't get any "extra" for the beautiful Proof qualities of the coin on top of the spot price value......and so, thus far, I've refused. Doesn't seem right......doesn't seem fair.......but apparantly this is the case, far and wide, around here. The two shouldn't have equal value......a Proof coin should always command more value than it's Uncirculated or Bullion counterpart ! ...    ... (with exceptions like mintage numbers, etc., but that doesn't apply here) Anyway.....sorry for my rant.....doesn't really apply here with your topic about Q.C. at the Mint.......I do agree though, it ISN'T great !
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Bedrock of the Community
United States
10982 Posts |
Quote: Around the whole of Northeast Kansas, NOBODY is paying more than the days "spot price" for ANY Proof Gold !
You can still get about 15% over spot on GAE from several major PM dealers but the premiums have dropped - A LOT. A year ago when gold was at $1050 you could sell proof GAE for $1750/oz. Your 2006 proof Buff should bring $1500 at ModernCoinMart today.
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Valued Member
United States
364 Posts |
This is what I've been saying for months on here. As the intrinsic value of the metal continues to climb, the "premium" a rare coin or proof brings over the raw metal content will continue to fall. If this trend continues, we will reach a point where only significantly rare coins will command any real price dividend over their metal content. Its simple market economics.
Not fair, I know. But you're dealing with investors like me. And we're a heartless lot.
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Bedrock of the Community
United States
10982 Posts |
The reason proof GAE went through the roof was that none were struck for almost 2 years. It was speculation and IRA funds buying up every proof GAE in sight. They briefly went over $2,000/oz this year when gold was under $1200. As gold shot up in value last fall, premiums on generic gold shot up even faster but have not yet recovered to the levels they were at 10 months ago. Watch the numbers this fall though.
I understand your point, but there are many variables in PM markets. Your statement that the premium rare gold coins will bring over melt value will fall as gold prices rise has no basis in fact. Would everybody just buy gold or silver bars if the PM prices went high enough? There's always going to be "collectors" who pay crazy prices for collectible gold coins. Having a rare gold coin gives you a big edge over bullion investors because when the prices fall, and eventually they always do, you don't take as big a financial hit because you've still got a collectible rare coin.
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Pillar of the Community
 United States
584 Posts |
Wasn't the proof introduced to add another tier of protection in an uncertain word. Don't it add some security like DHerring said granted theirs not a hoard of them it makes the grade and their popular. I'm sure everyone's seen the crazy amounts some of these people sell their modern slabbed proof GAE's.for. I'll be the first to admit I'm still wet behind the ears. My original plan was to let them grow old with me until the day I can pass them down to my two little guys along with the rest of collection. Its only after I watched some of those 2012 theories on youtube that I said well I can sell one. LOL Either way I'm going to have some in both finishes. I actually tried for the first time to melt down some gold last night. No coins just some earrings. Have to take another go at it the wife wouldn't let me be. LOL Ohh and the GAE's are on their way back to the mint. I asked the guy at post office the cheapest secure way. Came back with two day conf del insured for $400 cost $11 I almost fell over when he said that. I don't understand how I have to pay for their error. The mint that is. I'm almost to the point where I wont deal with them no more. Its that darn subscription plan that keeps me their.
Edited by amassey08873 10/15/2010 04:39 am
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Valued Member
United States
442 Posts |
It looks like you got someones returned coins from the mint! Thats too bad that they wont grade pr-70 but there still worth $1375 an oz today
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Replies: 24 / Views: 4,206 |