The line at 6:30 am is total insanity. It stretches way down the block. Rumor has it people were camping out at 4am.
Now I'm wondering exactly how much those people are being paid to stand in line. Must be quite a bit to put up with that much of a hassle.
The ones behind us I heard 300. The mint are a bunch of idiots. They will probably gloat at what they created. The dealer paying the people behind us said people started showing up at midnight.
Is this for some special valuable label, or just for regular mint packaging gold coin anyone can purchase from mint website?
It's just to buy the regular mint packaging. But then you can run over to the PCGS or NGC tables and get the first day of issue label. Sort of special, I guess.
Do the dealers give 'em cash or something to pay for the coins and the grading, or do they have to tie up their own credit to do it?
They should make each of them sign a sworn statement that they are not being paid to stand in line, and the purchase is from their own money. Such crap from greedy dealers ruins the hobby for everyone. Short of the mint smarting up, the only response the hobby should have is to boycott all of these coins. I for one promise to never buy one.
Sorry, I like these coins. And the best thing is that anyone can get in on the ground floor if you are willing to put in the effort.
My point sir is that this WOULD be a nice idea, and a way for the mint to give back to the hobby. Its the dealers paying people to stnad in line that are abusing this fairly noble idea. The line should not be that long, it is only that long due to dealers being abusive, then turning around and asking collectors to buy these coins for a fat profit. That is why I would never buy one with the ANA label second hand, as I do not wish to reward that kind of dealer behavior. If you like the coin and wish to stand in that line, that is your choice. Just know certain dealers are the ones making your wait so, so much longer.
Now if they were selling off bags of Morgans at face like in the 60s from the GSA is stand in line but for modern stuff no thanks
The first four sold by the mint. Wow! If the labels state 1st issued, 2nd issued, etc., I see these going for moon money.