2013 West Point ASE set

Hey guys? Remember that e-mail I sent off the other night? Well, I got an automated answer from the mint stating that they have received it and will be reviewing it shortly, but it could take up to 15 days to get back to me on my query. More to follow.......

 

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I had enough, I may regret it but I cancelled my order

 

when do the people who stayed the course (even though I moaned every mile of the road...and rightfully so) find out how good of an investment we have made by holding onto our orders because the final mintage ends up being so low from all the cancellations? i am not knocking anyone for cancelling, but I have seen a significant number of cancellations just on this forum and I think I am now holding some silver winners.

 

Is it true that canceled orders are subtracted from the mintage count, and not just made available to dealers to have graded, sell raw, etc.? If it is true, how can one go about verifying that?

 

I doubt you'll see enough cancellations to make these a good "investment".

 

I think the big dealers got all they want. Why would they want their returns back?

You may be able to get the information from the mint by filing a FOIA, but not sure if that kind of info is covered. You’d need ledgers that show all the returns and sales. And, 10 years ago, it cost around $900 to file a FOIA.

 

Perhaps the big dealers and the mint have arranged up front that left overs from canceled orders from the usmint site would be offered back to the big dealers at a discount. I was hoping someone on the forum could provide a definitive answer. Although I'm curious about how all that works, I'm not curious enough to pay a hefty fee to file paperwork for something that may not even address the question.

 

The definitive answer is the mint can and has done whatever it wants, often to the detriment of the average collector - although, I don’t know of a documented scenario like yours. It’s rare that the mint responds to a collector with an accurate (truthful) answer, sans being required to, which would be the case with a FOIA. You could try calling the mint’s PR dept., but good luck getting a response or an accurate one.

 

i dont think you could be more incorrect. let us evaluate strictly facts:

first off, i do not plan on selling mine anytime soon. however, pretend i need to, let us evaluate the liquidity of this "investment". they are currently selling for $199 on eBay raw. so I would make a 33% profit in 1 month of holding mine. that is a good investment.

second, it contains a first ever of it's kind. look at the resale value of the reverse proofs. they are similar in nature. they are reselling now (2006, 2011, 2012) for 200-500% of their purchase price. the oldest one being 7 years. can you name one investment you have personally made that performed as well? maybe you gambled and won. this is a good investment.

let us imagine that the mint releases the final number after all cancellations are tallied. and it is very low. can you explain why you think that the first ever of its kind Enhanced UNC coin is a bad investment? with a continually lowering mintage? why would cancellations not improve value?

your street cred just bottomed out brother.

i will say it again, the US Mint is a joke. these coins however were a good investment. please show me how when i am dead and gone and my great granddaughter sells these for a million spacebucks why it was a bad investment.

 

Humor? Sarcasm? Both? Neither? Again, I'm curious to know about US Mint sales practices. The specifics of what they actually do in these situations, in general, and this case in particular, but I think you know that. Never mind, anyone who could answer me accurately probably wouldn't reveal those details on cointalk, and I'm not liking the direction this thread is going, so I'm done here. Time to turn my attention to the reverse proof buffalo thread . . .

 

Lets see what the return on your investment is in 10, 15 or 20 years and then I might be inclined to agree with you. 90% of what the mint sells tends to go south in the aftermarket rather quickly. As long as there is a large collector base of eagle aficionados, these sets will always be in demand but that remains to be seen. I hope you're right. Till then I'll remain the modest, humble collector, tending to invest in things other than coins or bullion.

 

Well, what they've done in the past is melt unsold sets down, not offer them to large dealers at a discount. I would hope they continue the practice.........

 

I hope you're right. Still even with cancellations, this set will be the higher mintage of them all. Granted this is the first EU, but will there be lower mintage ones and like was mentioned, will the collector base increase or decrease?

 

Since when can you contact the mint via email? What is their email, is it on their website?

 

No, pretty much fact. Just when you thought you saw the worst from the mint, they pull another one. Last year it was reissuing the S mint regular proof from the set and ending sales of other products early. With all the complaining about shipping dates, just hope the mint doesn't reissue any of these coins.

 

It's on their site under 'contact us'. Scroll down past the phone numbers.

 

Hi all,

Unless you are a flipper in this for the hopes of turning a quick buck, I don't get what all the fuss is over about waiting. The coins will get to you when they get to you. If you are going to hold them for a long time does it really matter whether you get them on a Tuesday in July or a Thursday in August?

My issue with this whole process is the inconsistency and now the stupidity. I ordered on May 16th. I didn't and still don't care when they arrive. This is what annoys me:

My original delivery date was 9-30...then it was 9-17...then it was 8-something...then it went back to 9-17...then back to 8-9...where it stayed till Wednesday August 7th at which time the estimated ship date was changed again...this time to 7-19. Now that is just plain stupid!

It is also horrible customer communication and service.

Still showing 7-19 estimated ship date BTW...cancel button still available too.

 

The sets are fantastic and the quality control is outstanding. But there is a small segment of very vocal people who are always going to complain and drown out the others.

 

I think the 'vocal' have a legitimate gripe.......

 

That really doesn't work. I ordered mine on the THIRD day and have had it in hand now for TWO WEEKS.

Don't ask me how that happened either.