Am I Missing Something?

I just got back from a local shop that I frequent. They have a silent auction that ends today. One of the items in this auction is a 2022 Uncirculated Set. I believe they can be bought for less than $30.00 from the Mint. Add in $5.00 for shipping.

These pictures speak for themselves.


The minimum bid is $65.00 and someone bid that amount. They always have a “buy it now” price and that is $90.00. At that price I can buy 3 sets and they’d all be in better shape than this set.

 

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If you're missing something, I'm missing something...

 

Did you point this out to one of the employees? They must know something others don't.

 

Its not uncommon for local shops to do such things. There is some value to being able to see the set first just not that much value unless there was some variety or they believe one of the coins would grade very high

 

They don’t care as their main goal is to make money.

 

Perhaps you are missing a dollop of Greed?
J.T.

 

That’s ludicrous…unless the auction is for charitable purposes I would politely decline to participate…imo…Spark

 

To be fair no one’s forcing anyone to make bids. It’s just one of many examples of how common things are often more expensive in local shops than they would be online where’s there’s a lot of competition to sell them.

 

I didn’t bid on it. I do get a lot of my antiques here and at very good prices.

 

It’s sad how some, not just in coins, are taking advantage of people.

 

Yes it is but it’s even sadder that people will buy things that they have no knowledge of.

 

Now I will say this. Hope Paddy is reading lol! I do appreciate all’s input.
I have learned enough that I know that certain coins are not worth that much. To me, even my corroded and worn dies I love lol. But really some are naive just to say I guess, “ Look what I bought”.

 

If it was in a shop, they probably had $35 in it. That much mark up is not unusual, especially for smaller things that tend to walk out. Lose one, you have to sell 3 more to break even. I'm guessing this wasn't a coin shop.

 

I don't think you miss very much at all.

 

sorry double.

 

Actually it’s a second hand shop and they carry just about everything from time to time. I just picked up 3 very nice Royal Daulton items from the 1940’s.

 

I'm not sure the shop actually owns the set. There is a shop in my area that lets customers put items up for bid.

 

If the shop doesn’t deal much with coins maybe they looked up the price of a proof or silver proof set by mistake. Just giving one possible option that may or may not be warranted. I’d mention to them and see what they say. If a mistake, they’d correct it. If not then I’d steer clear from them.