why is the Ultra High Relief Double Eagle so expenssive?

mr2005 · 04-10-2009, 03:04 PM

i see this all over ebay at $2400 up? why such a disconnect with the price of gold(i'm assuming this is a 1 oz piece).

is there a real low mintage on this?

**green18** · 04-10-2009, 04:00 PM

The mintage on these coins is well over the 50,000 mark so rarity, in and of itself, is not driving these prices. Frankly, you can still order them from the mint if you're willing to wait a spell.

900fine · 04-10-2009, 04:31 PM

Quote:

Originally Posted by mr2005

i see this all over ebay at $2400 up?

The e-bay coins that sell for $2400 are in MS70 slabs. For some people, that's worth a big premium.

Other UHRs are much lower price. $1600 ish, same as coin shows.

coleguy · 04-10-2009, 05:06 PM

I think the biggest reason they are twice as much on Ebay right now, is the same reason cents minted in the billions were selling for $60 a roll....some people just have to have them right this instant and are willing to pay rediculous prices to get them....at a substantial loss.
Guy~

mqracing · 04-10-2009, 05:42 PM

it's not just the cost of the gold in the case of the UHR--- but the packaging and the book are probably fairly expensive to produce as well.

think of how much a retailer would sell the wooden box for. Bet it would be somewhere close to a hundred bucks itself (retail).

Haven't seen the book yet--- if it's printed really well and laid out nicely--- think of the expense of writing and producing the book.

And then add on top--- just from what I've read--- the die life for UHR stampings is much, much shorter than other types of stampings.

And if you compare the US specialty (collectible) gold coins on a per ounce basis against the foreign mints the UHR is bargain priced.

MQR

Leadfoot · 04-10-2009, 05:48 PM

"why is the Ultra High Relief Double Eagle so expenssive?"

Some people would call it supply and demand.

Me, I call it stupidity.

Then again, who am I to judge how others spend their money.

CamaroDMD · 04-10-2009, 06:35 PM

Quote:

Originally Posted by Leadfoot

"why is the Ultra High Relief Double Eagle so expenssive?"

Some people would call it supply and demand.

Me, I call it stupidity.

Then again, who am I to judge how others spend their money.

I think this is one of those coins that will be expensive for a while and then drop down. The mintage is awful high to keep these premiums going. I'll bet in a couple years these will be found for melt plus a slight premium. But, I could be WAY off.

coinbuff · 04-10-2009, 07:15 PM

Quote:

Originally Posted by CamaroDMD

I think this is one of those coins that will be expensive for a while and then drop down. The mintage is awful high to keep these premiums going. I'll bet in a couple years these will be found for melt plus a slight premium. But, I could be WAY off.

I agree. i think the mintage is around 57,000 now.
A few weeks ago I ordered one from the mint website, thought about it a little more, and cancelled the order an hour after I had placed it.
I'd rather get a decent 100+ year old double eagle if I'm going to be spending the kind of money over spot that the UHR is priced at.

Jim M · 04-10-2009, 07:16 PM

See definition of the following:

Bidiots

clembo · 04-10-2009, 08:09 PM

I ordered and recieved mine. No book yet though.
With the limit of one per household my boss was offering a "bonus" just for folks to order so he could get more. Cool by me, I didn't want, nor could I afford one.
He paid me up front and I made a quick profit.

We've been sending them to NGC for grading and one went to PCGS for a customer. Have received more MS70s than 69 including the PCGS coin. WE ALSO got an NGC 70PL.

PCGS is not assigning PL to these coins. I called to confirm that the other day.

People are paying for the plastic as they so often do and 70s are NOT that uncommon. The 70PL is though so far. I've seen two listed on ebay. One went without a taker at nearly $5,000. One sold yesterday for $3708.

Why do I care? I check it constantly at work. My boss has his MS70PL up now. Ends tomorrow actually.
I wouldn't be surprised if it goes over $3500 and that would be fine. Puts the boss in a great mood when he triples his money.
To me it's an ounce of gold in a really nifty box and I have seen the booklet. It's nice but not $3000 nice.

If you want one order from the mint and wait till it's delivered. You can always slab it yourself.

jaceravone · 04-10-2009, 09:29 PM

For the price that some of these people are buying them on line graded, you can pay nearly half that price for the coin through the mint, a really nice box and a wonderful book and even have it sent off and graded yourself and still have a ton of money left over. But if you are wanting that guarenteed 70, then buy it on ebay for double the price.

andrew289 · 04-10-2009, 09:40 PM

We actually don't know the exact mintage right now. We know that 50,000+ orders have been taken but the mint is releasing the coins in batches every month to 6 weeks. Will all 50,000 get a coin? no one knows for sure ...just wait and see.