2013 Silver Eagle West Point set is schedulded

Yadda Yadda, bullion shmullion. This collector's gotta have one. We can wail and howl at the mint's practices of overcharging, but they are, after all, in business to make a buck. The ASE program is currently very popular and has a wide collector base so I've no doubt that many sets will sell. Will they be more valuable in the future? Can I buy 10 and expect to make money in the after market? Probably no and no. But I'll have an example for my collection and that's really all that matters to me.......

 

Log in or Sign up to hide this ad.

"But I'll have an example for my collection and that's really all that matters to me....... "

Read more: http://www.cointalk.com/t226121-2/#ixzz2QIurGyZ2

Agreed! I have every proof except the 1995W. I enjoy buying the coin every year and I will continue on with the set. I like completeness as much as possible.

 

According to a quick search for a definition, I came up with this...."Bullion refers to precious metals in bulk form which are regularly traded on commodity markets. The value of bullion is typically determined by the value of its precious metals content, which is defined by its purity and mass."

So the fact that this coin is made from silver does not mean that it is solely "bullion". These are collectible coins or shall we say numismatic coins. This is why the mint has a bullion version and a collectors version.

Now lets look what constitutes a collector silver eagle. First, there is the silver content. We cannot use today's pm price as the silver for this coin was surely purchased back when silver was much higher. But for arguments sake, lets say that cost was $28. So based on the current ask price per coin of $75 this leaves $47 to play with. Let's look at additional production costs. Unlike bullion coins, there is an additional expenditure to produce these specialized dies. What that cost is, I don't know, but it is there and it gets passed to the customer. There is nothing unreasonable about this fee. If a product costs more to produce, then the end price is going to be more than the basic product. Then there is a marketing cost. Since these coins are made for collectors, the mint is doing an extraordinary amount of marketing that you do not see with bullion coins. Whether you, as a collector agree with this, the Mint is a business and is not non-for-profit. So this marketing cost gets passed to the customer. Then there is all the packaging costs. There is a cost for the actual packing material - case, capsule, coa, etc. Once again, don't know how much that is, but it has to get passed to the customer. Lastly, there is the additional labor costs to do all this stuff. Someone has to pay the die makers, marketing people, packing people, etc. This cost gets passed to you the consumer. So once all that is factored into the price, then there is the dreaded profit margin! Yikes! God forbid the Mint actually makes a buck or two off the collector.

So in the end is all that above worth $75? I am a business man. I own my own business. I know what it takes to make it or break it. I guess I take this a little more personal than most people because I hear these comments all the time with the product I produce. People say I cheat them and rob them and it hurts because if you all knew how fine that profit margin was you would understand. I often tell my customers that if they think they could build a better product easier and for cheaper, please be my guest. Of course most come back in disbelief because they then realized what it takes. I've even had one fine lady scream at me until she was blue in the face...literally! Telling me that when her and her husband ran their business back in 1970 that these costs weren't so high!!! Yes! She was comparing my business in 2010 (when this happened) to her business in 1970. After a little explaining what the actual costs were, she became a loyal customer.

So gripe all you want to gripe, $75 per coin is, in my opinion not bad for a finely crafted American Silver Eagle. If you still think this is unreasonable, I urge you to take a look at what our friends at the Canadian Mint are charging for their silver collectible coins, the Royal Mint in Britain for their coins and the Australian mint for their coins to name a few. We don't have it so bad. It could be worse!

 

You go Joe........

 

Oh Im on the juice tonight Ken!

 

Lovin' it.....

 

Since this is the year I got into this PM coin stuff, I'm going to get at least one set. They look really cool.

 

You guys are entitled to your opinion, and of course are entitled to buy. I also think I am entitled to mine. Same old design, same old production type, i am simply underwhelmed for the price.

But I am happy for you if you like them.

 

Chris, we love you and we love your input. We know we're irrational, but after all, we are collectors passionate and pure....

 

And cool for you. You do have to admit, though, the premium is getting pretty serious....

 

You are sailing with Captain Jack!

 

maybe sailor jerry

 

Shoot, that captain morgan stuff you might as well plug into the sewer. Good Ole American Evan Williams be the most luxury of choice........

 

It's not even two proof coins, if I'm reading it correctly. There is one reverse proof, and one "frosted" regular uncirculated eagle. Not for $150... not for me.

 

Then so be it Drath. Anything less than two proof is not worth partaking, Heck, anything less than eighty for all that matter......

 

The two proof set will come out for $199; eventually.

 

This is not a bullion play but a collectable item to me. I am in at $149.95 and have already arranged to work from home that day so I can be online right at noon. TC

 

It ain't gonna be like October 2011 TC. You will have a month to get your order in.

That said, I'll be doing the same as you.........

 

are there any order limits. what about the unrich folks who dont have $150 lying around. will they have a chance or it will be gone in 60 seconds. The mints greed knows no end but if they turn their back on the average collector who made them they will be sorry. i hear their revenues and profits are going down year over year.

 

Bullion value has little bearing on numismatic, or potential numismatic collectibility value.