Free Money!

I'm not actually "down" on modern coins or collecting, per se. Rather, my issue is simply the false hyperbole ("FREE MONEY") and very poor counsel (implied "great investment"!) To go even further, I don't even believe SILVER or Gold are great "investments" (because that word has a specific meaning, and there's a semantic debate.) And I can still be called 'PM bullish.'

Going off the original price of Ag BULLION, you'd have alot more value in Silver bullion than that 1999 set for $32. Back in 1999 (assuming you paid a hefty 22% premium on bullion) $32. bought you 5 Ounces Troy Ag. In Late 2012, that Pure Silver bullion would be worth ~ $150. Meanwhile the 1999 Silver Mint Set sells $75. - $85. on eBay. That's a huge difference, and the Mint Set Seller is barely breaking even after fees nevermind opportunity cost. Ouch! It stands to reason, quite simply, that Mint Sets have been a terrible alternative choice as an investment, in fact.

I've already debunked the incorrect (very wrong) idea that 2011 Mint Set is today worth more than Mint retail. Sorry, proof is in the numbers - not make-believe.

 

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i think that no matter what you do with your money it is always a risk unless of course you are the monday night football announcer.lets see money market no,facebook no.....as long as they continue to devalue money.you are a fool to put money in banks,401k joke,bonds haha,.....the list is endless.there are many people who think they have a great fix,but i dont see a real one it is getting worse.how many cars have to roll of a line or how many letters must you deliver or how many electric meters must you read to justify what you are paid and i could have picked any jobs.how about those money managers stock brokers come on i used one and they lost me money i can do much better on my own and do.love those value graphs sort of like the weather man 3 days out.land is not bad i own some but no brilliant person had to tell me to invest in land people have to live somewhere that is easy enough i think.

 

how can you actually debunk it yet? course it isn't worth more then the mine is CURRENTLY selling them for...just have to wait to see how it is when the mint stops selling don't you think?

why pay more on ebay for the same thing the mint has? ebay bucks?

also as stated the values on these sets will have to wait a few years to find out the real value on anyways...wait for the economy to get better and have less then the 18 to 23% real unemployment figures people are currently throwing out there...like I said above...you need food/shelter more then collectable coins.

Also I don't think proof sets are a fad or anything like beanie babies "oh wow I got the super duper ultimate mega uber rarest beanie baby of all times! NOW I CAN RETIRE"

as for anyone thinking the same way for silver proof sets? yea I agree that would be stupid...

but also if you look at the beginning of this thread.. The "free money" is the low mintage of the silver dime and halve giving them a large premium also if the price of silver goes up you'd also make money too...in all honesty if the mintage is low enough you wouldn't really have to have a high price of silver to get your money back... right now the "free money" is us waiting on seeing the mintages and if we end up with some semi key dates and a very low key date mintage for one of the years... I was thinking it was gonna be 2010 but now I think based on the numbers posted to date...2011 is the key date.

if people take this as the investment of a lifetime...well...a fool and his money...

 

Got a fresh set of numbers folks. This update is thru November 7th, 2012. Sales were 249 sets sold for the 2011 Silver Proof Set. New total is now 568,757. Still 16,657 sets behind the 585,414 2010 Silver Proof Set total.
The 2012 Silver Proof Set saw sales of 4,191. That's the largest weekly sales total for that set since July 4th. Total is now 322,565.

 

Weekly numbers are in. 2011 Silver Proof Set sales were 528. New total is now 569,285. 16,129 behind the 2010 Silver Proof Set sales total.

2012 Silver Proof Set sales for the week were 8,422. Total is now 330,987

A few members from my coin club said they're going to buy a few more sets of the 2012 from local coin shops and shows, but not from the Mint. I guess they figure that will help keep the sales total down.

 

why buy from the mint when you can get them cheaper online if you shop.

 

The mint is desperate: look for an upcoming 2012 silver proof set which has an ASE instead of the penny and nickle, for $149.

 

I could use some free money

 

It looks like it has been removed from the product schedule (at least for now). TC

 

Don't bother looking for it in Mint Sets unless you're stealing your neighbor's LOL.

 

There are quite a few items now in the 'last chance' category on the mint's website:

http://catalog.usmint.gov/webapp/wc...storeId=10001&catalogId=10001&identifier=7600

*breath hold*


Including, the 2011 silver proof set!!!!:

http://catalog.usmint.gov/webapp/wc...ctId=16216&langId=-1&parent_category_rn=37238


42 sale days remain!


Here is the last set of numbers, (thanks 2schnauzers2luv):

"Weekly numbers are in. 2011 Silver Proof Set sales were 528. New total is now 569,285. 16,129 behind the 2010 Silver Proof Set sales total.

2012 Silver Proof Set sales for the week were 8,422. Total is now 330,987"



Therefore, average weekly sales for 2011 sets must exceed 2304 sets (7 weeks including last week)....or 4.36 times their last weekly volume...to pass 2010! So 2011 sure looks like it will be the new low water mark.

Will 2012 undercut 2011? Based on the last two years, that answer is another year away - so it's anybody's call.

 

Good points avr5700. For the past several weeks, the 2012 sets have been averaging about 3,400 sets sold per week. Last week 8,422 sets were sold for the week. With the holidays getting close, the sales numbers for the 2012 set should increase. Still, we're talkin FREE MONEY!

 

This thread is like a drug.
Or parallel universe.
I'm lovin' it!

 

Another fly in the ointment is that for 2012, the Kennedy half and Roosevelt dime proofs will find a home in a second set, soon to be released:

http://catalog.usmint.gov/webapp/wc...ctId=16808&langId=-1&parent_category_rn=10111

So that could add 50K to these coins. Buying the limited edition coins separately was cheaper (Proof Dollar sold out now). Funny that the mint held back some of that proof dollar supply to meet potential demand on this set, gaining even more premium than if they had sold them individually. I doubt all 50K will sell, but they are placing a 2 per household initial limit on them which seems more like a marketing ploy than a necessity to me. Guess we'll know in a week or two.


Juan...this limited edition set has your name written all over it!

 

avr5700-
I'm buyin! I'm buyin'! Your perpetual optimism is irresistable - anyway, I travel enough so this Set will make a fine gift for any foreign friend.

 

That set ain't "free money". That set's overkill.......

 

"Twinkies’ moisture comes from oil, their vitamins are fermented or created out of petroleum, and the main ingredient in the cream is probably an emulsifier called Polysorbate 60..."
Blecccch! But someone's auctioning a single Twinkie on eBay and the bid is $5k ??? PURE GOLD, baby.
http://www.ebay.com/itm/Single-Twinkies-/221154337629

FREE MONEY!!!
:hail::hail::hail:

 

New numbers! New numbers! This past week, the 2011 Silver Proof Sets saw sluggish sales of only 439. New total is 569,724 or 15,690 behind the 2010 sales numbers. The 2012 Silver Proof Sets had 9,698 sales for the week. That's more than double the amount of sales for this set 2 weeks ago and the largest number of sets sold since May 22nd (See Post #712) New total is now 340,685.
FREE MONEY is still alive and well!

 

who was it that said a fool and his money are soon parted.this guy is a candidate i must have something he wants.

 

The guy that bid on that is a candidate for the nut house........