Anyone canceling their order of 75th anniversary sets?

Wow; I had to check if I was still in the "bullion investing" forum. Of course it is about money. What do you think that we're doing here? If you're buying bullion and you don't care about the value of the bullion, it is a little strange to me. If you just bought the set and can immediatley flip it for a 25% profit, you shouldn't cancel the order. Canceling the order is my definition of foolish. Although I don't plan on selling my sets, I do care about the value of them. It is part of the hobby for me. As far as the US mint, it has its problems like everything else, but it is better than many other things out there.

 

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Is this a reasonable price for this coin? All the talk is making me want one real badly!


http://www.ebay.com/itm/2006-P-REVERSE-PROOF-SILVER-EAGLE-ICG-RP70-20TH-ANNIVERSARY-SET-AKA-PF70-/320949324212?pt=Coins_US_Individual&hash=item4aba1209b4#ht_500wt_1180

 

you can buy a set of 2012 s PF 70s NGC for that price.

 

I was being facetious in lieu of seeing the Mint try any number of ways to expand availability of a product line.

 

Oh fudge......I keep forgetting that.

 

Wow, Phil, you forgot so easily that this thread asked who was cancelling orders not who was "investing" to make money off a flipping scheme, or who out there wasn't cancelling but intended to stash away their orders received, like a collector might do...

"Strange", as you say, it seems you are buying bullion and don't care about what price you are paying, when said bullion is sold at $75/oz silver when spot is riding around $27. Yet you insist you're talking about bullion investing. On top of that the Mint goes and releases another product with the same coin and undermines the unique quality of the product you just bought into with the idea of flipping for a few fast bucks in return. Try getting a non-collector, an actual bullion dealer or investor in physical metals to agree with that price the Mint is asking for on the aftermarket.  The demand from those willing to pay this much or more is only coming from a very limited number of collectors out there and will dwindle soon here after as demand was supposedly filled already by the number of orders placed / coins struck.

It's not lost on me that people here are talking about collectible products in the Bullion Investing forum. Investing in numismatic coins is something they don't dare talk about in the Coin Chat forum subsections because they'll get hounded for the 'foolishness' of the idea.

In the sense of 'investing' tht this subsection is created for, we should not encounter these endless confused thread discussions numismatic collectibles are being discussed. All I hear is a bunch of hobbyist banter dreaming about making a fast buck or blindly buying into another round of Mint product because they are stuck in a habit of eating what they are served without question. If they can see validity in my reasons but not change their own consumptive behavior they are not effectively understanding the full picture, let alone the value of thir collection over time and they are certainly not ingaged in investing.

Saying "if" you can sell something for x% more isn't a profit earned, its an artifical example of what some other collectors disgression may agree to above someone elses. Since you claim that you aren't going to sell your set(s) then you have nothing to base your claims about profitability on given this product, and relying on eBay pre-sale auctions cited simply isn't proof positive of investment success to be had just for ordering these collectible coins at such enormouse mark up. No, these are not investments being discussed. If one isn't selling then they are not investing, they are collecting. There is nothing wrong with collecting at all, save for the time when certain principals come into question. Such were those that I felt warranted in making my decision regarding the Mint and this product.  I, as a collector, admit to having overpaying for coins with a bullion composition, but I don't expect the same in return from a bullion buyer were I to go and sell the item, nor do I have to sell to that buyer at their buy offer price. A collector may decide to pay me more for it, but doesn't mean I made a sound investment at all.

I cancelled my order for sound reasons that no opinion of your's that it was a foolish decision will make me think otherwise. It's not foolish to decide not to make money off something. It's not foolish to decide not to collect something. It's a much wiser choice, investment-wise, to never have overpayed for the objects intrinsic value to start with.

Most of this thread has been the same old banter from collectors drooling over arbitrary shipping date estimates and cancel boxes disappearing, credit card accounts being charged, and monitoring a estimated dates in the process of a transaction. This has NOT been about investing.

Now, if you are talking about bullion ASE that's one thing, but this thread is discussing numismatic products sold at enormous profit for the Mint's taking, and collectors flipping one or two sets for an additional $50 bucks, isn't "investing", not in the sense of this sections intended discussion. Making $50 bucks off an extra set is just getting some lunch money for the next week ahead or a bit of gas in your tank. Such minor 'profits' are not investing. Broken down to costs, it's not an investment, for the amount of ones time, effort and materials needed to hopefully resell the item for more than you paid, in a problem-free transaction, and after paying off all the middlemen in the resale process. If you want to talk IFs then put your money where your mouth is, buy 1,000 or more sets and try reporting on profits. The more of these coins sold from the Mint, the less chance they have at attracting the collectors willing to pay a premium and your profit is sunk.

So you can keep your baseless definition (re: opinion) because not everyone is willing to except the Mint as the lesser of two evils and continue buying into their products and gimmicks as you happen to be. I have my own way of handling what I should or shouldn't do when it comes to collecting, investing and dealing with the Mint, none of which was arrived at foolishly.

 

I understand Krispy that the original thread asked if I would cancel my order for the 2012 ASE set. But we're also in the "bullion investing" forum. It is still my opinion that the cancelation of the order would be foolish. Canceling something with an immediate 25% profit is in my opinion, foolish, as far as bullion investing goes. You may have coin collecting, lack of funds, or ethical reasons for canceling your order. It is your right to cancel for any those reasons. It is also my opinion that those comments belong in another forum outside of "bullion investing".

 

You're absolutely right, glad I didn't cancel my order!!

 

Since you want to talk about what things are worth in the Bullion Investing forum and insist on it being opinionated, I'll remind you what opinions are worth, squat. Any one opinion is only as good as the next and each cancels out another when they meet. I don't rely on opinions when buying for my collection and certainly can't accept an opinion like yours that canceling is/was foolish. I also don't rely on opinions for investment decisions which would be a hazardous way to invest monies in anything. You've got nothing to back up that your crystal ball works and you can't even test your own theory (opinion) regarding this numismatic collectible as to whether or not it will be profitable since you claim you are not reselling. As a bullion investment only the Mint is profiting from selling bullion sold at these prices to collectors. Buying to hold is collecting, not investing in the sense of what is supposedly discussed in this subsection.

The bullion investment forum isn't about investing in coins, but about bullion. I agree the numismatic collectible discussion belongs in another forum (already said as much myself in so many ways), and that they do not belong here on this side of the fence. But the existence of this thread and the plethora of other threads talking about collectibles, mainly by collectors, in Bullion Investing, just goes to show CT essentially has no boundaries between the two concepts of collector forums to that of bullion investing forums.

If you think I'm responding in the wrong place, you've miss directed your comments at the wrong person, because I have shown the ability to differentiate and discuss the two, as well as stay on the topic of this thread. The vast majority of comments here are those from collectors who are not reselling, that is not investing, but rather anxiously anticipating their collectibles to arrive. No one has been talking to you about what these are worth, except for me telling you about how over paying for the intrinsic cost of the bullion contained in these collectibles is a poor way to start a bullion investment, especially when spot price is significantly below the retail price of these collectibles' that many here are eagerly willing to blindly invest in.

 

off the subject, but where is every one going to post there pictures of there sets ?

what thread ?

 

When mine arrives I'll start a thread.


Unless someone gets their's before me and starts their own.........

 

There isn't a thread exclusively for pictures of this set. Try "Lets see your newest acquisitions" as an alternative.

 

Great suggestion Sam. Will do that.........

 

For those with the 2011 25th Anniversary Set, no pictures are necessary. Just follow these instructions:

1. Look at your 25th Anniversary Set box and imagine it 60% smaller.

2. Look at the 2011-W Proof and imagine it with a 2 instead of a 1.

3. Look at the 2011-W Proof and imagine it with an S instead of a W.

4. Look at the 2011 Reverse Proof and imagine it with an S instead of a P.

5. Look at the 2011 Reverse Proof and follow the second half of step 2.

It's not like there are any new fields being plowed here.

 

At least we know shiny proofs aren't bullion vesions that are discussed in this forum subsection and the picture thread will move this collector talk back to Coin Chat. Talk about being easily distracted by shiny things.

 

+1 :thumb:

 

How Lame !

 

That Doesn't even make sense. if we are talking about pictures of the 2012 set then why would we need to use our imagination? we can just look at our 2012 set.

most pictures posted on any thread, are of things we have seen before. but we still like to share them.

Don't be a wise guy!

 

x115, Treehunger does make sense with his comment. What's more real than real? If you all have the coins in hand and most of us are all familiar with the past issues of these designs, there's really not much different here to post images about. A shorter box and a new COA are the only things new, not the coins.

Now, I understand some of you guys get to feeling giddy like kids getting new toys at Christmas as the coins will arrive soon, but how many images of the same darned thing do we need to see? If every parade float was the same no one would stick around to watch and cheer.

All the same new shiny discs that will be hailed beautiful will also be, as we see more often than not, horribly photographed for quick displaying of these mock trophies of the modern coins collector. They're posted as though they were the rarities and oddities we see shared in other threads with coins that actualy are rare, unique or have individual characteristics that warrant posting of images of them because they are not all the same, i.e. toned coins, error coins, suspected fakes, and so on.

With so many of these coins out there, 251k or so this go around and these just added on to the past years' designs of the same kind, most all being delivered securely in pristine high grade territory, what is an endless stream of the same moderate coin imagery meant to achieve... With the limited photo skills we see when it comes to numismatic photography and the impossiblity for most people to differentiate bewteen subjective high range grades (especially from pictures online), such images are not going to help anyone draw a line between a 69/70 and what may be cameo or not. If all of you who receive sets posts images of the same coins, what are you achieving? What is the activity about? It's not hard to imaging what these coins are like without picutres after 25 years of this design. Of course if someone receives damaged coins or something odd they want to question, we need pics. But of a brand new coin that's soon to be all over the place, from from being rare and notable it's not entirely necessary to see the coins as was suggested in the earlier post. Maybe he was having a little fun with you guys by saying that, but there is plenty of sense in the suggestion as well it would save many the time and effort of taking/uploading images and creating yet another thread on the same product release.

 

x115, Treehugger does make sense with his comment. What's more real than real when most people posting here are receiving the same thing in the same quality at the same approximate time. If you all have the coins in hand and most of us are all familiar with the past issues of these designs, there's really not much different here to post images about. A shorter box and a new COA are the only things new, not the coins.

Now, I understand some of you guys get to feeling giddy like kids getting new toys at Christmas as the coins will arrive soon, but how many images of the same darned thing do we need to see? If every parade float was the same no one would stick around to watch and cheer.

All the same new shiny discs that will be hailed beautiful will also be, as we see more often than not, horribly photographed for quick displaying of these mock trophies of the modern coins collector. They're posted as though they were the rarities and oddities we see shared in other threads with coins that actualy are rare, unique or have individual characteristics that warrant posting of images of them because they are not all the same, i.e. toned coins, error coins, suspected fakes, and so on.

With so many of these coins out there, 251k or so this go around and these just added on to the past years' designs of the same kind, most all being delivered securely in pristine high grade territory, what is an endless stream of the same moderate coin imagery meant to achieve... With the limited photo skills we see when it comes to numismatic photography and the impossibility for most people to differentiate between subjective high range grades (especially from pictures online), such images are not going to help anyone draw a line between a 69/70 and what may be cameo or not. If all of you who receive sets posts images of the same coins, what are you achieving? What is the activity about? It's not hard to image what these coins are like without pictures after 25 years of this design. Of course if someone receives damaged coins or something odd they want to question, we need pics. But of a brand new coin that's soon to be all over the place, far from being rare and notable in that regard, it's not entirely necessary to see the coins as was suggested in the earlier post. Maybe he was having a little fun with you guys by saying that, but there is plenty of sense in the suggestion as well it would save many the time and effort of taking/uploading images and creating yet another thread on the same product release.

Of course, enjoy your coins and understand that no one is saying you can't/mustn't post images, so don't let others' thoughts get anyone in a huff on Christmas morning when someone suggests others might simply stop and think about what you are doing by this redundant activity associated with these particular pieces and utilizing the hobby in this way.