And they should, b/c the collectors who are buried in these so called "modern PR/MS 70 rarities" couldn't sell their coins for good money if their lives depended on it.
It is laughable to compare Morgans to modern coins. ..Just walk into any show and yell "who would be interested in buying my MS 70 coins?" . I guarantee you that the room will be very quiet b/c the (dealer/seller) don't wanted to buy these coins back from the customers. Back in the early 90's?.. when I was doing a few coin shows a gentleman walk up to my table and showed me 2 boxes full of PCGS MS/PR 68-69 (1990-1992 ASEs) said he paid $125-$250 each.He asked me what would I pay for these coins.I replied by telling him the MS69 coins only worth $2 over the bullion price and the PR coins only worth the issue price, by now I knew what he was thinking in his mind..."this guy is a CROOK trying to steal my rare coins" ,but what he didn't realize the real CROOK was the dealer who sold him those coins for a big premium.
Who paid $62 for just a dime? There are TWO dimes, both unique to the series, and 3/4 of an ounce of silver to boot. By simple weight distribution the price per dime is realistically in the $3-$5 range per each one. In fact 85% of the set is the Dollar, so the dimes were about $5 each. Although I dont think I will even remotely see close to $50 back on that dollar, but either way, the Dime didnt cost $62. Maybe $10 each.
Understood...I mean no disrespect. What I meant was that in order to get those 2 dimes you have to spend $62.00 so for most the Proof Silver Dollar is throw away. I can see a lot of those ending up on eBay real soon. As for the dimes it's very speculative but I can see the excitement for those that collect such coins. Profit may come sure but I suspect only for the early risers who have sets in hand already. I hope you do well but I just couldn't pull the trigger.
I think you are right about that dollar, I bet PLENTY get dumped for whatever people can get for it. I only bought two sets, one for my silver set of Roosevelts, and one to have a little fun with. Worse case scenario I get stuck with two sets, shoot its always a good idea to have a backup anyway.
Woah! That's a lot of jelly beans....not to get off-topic but my 10c The Incredible Hulk comic is worth $35K... Don't we all wish we kept those comics...
I had one set in my bag at 12:02 on the 1st day, but changed my mind. I do like the RP dime, hopefully someone will be selling just that dime by itself. If not I guess I will get over it. I would rather spend the $60+ on some nice Mercury Dimes.
Don't you hear yourself? You don't even hear it, do you? By denigrating what the kids might want to care about you "abort" their enthusiasm and prevent a someday collector from giving a hoot. There needs to be one Golden Rule in numismatics - Never talk down any type of collecting anyone wants to engage in. Otherwise all you're doing is killing this hobby's future. Oh yeah, it's also mean and ignorant. Every high end mint state coin, EVERY STINKING ONE OF THEM, was once a low value "stupid modern" that somebody stashed away. Think, you old (flatulences). Just because YOU would never pay good money for something doesn't mean nobody will ever. News flash, Dancing Fire, you aren't the alpha and omega for all time, now are you? Have a little humility, or is that asking too much? It's not all about you, or even people like you, and it's not all about right now, either.
Of course dealers are frustrated with the Mint. The Mint is in competition with them for what is basically the same pool of dollars! The attitude of dealers is so laden with entitlement it makes me physically ill. With them, it's all ME, ME, ME, and NOW, NOW, NOW! Well I say to heck with the dealers and their entitlement and concentrate on the distant future. Nothing I EVER plan to do with coins needs a dealer to do it with. I buy raw, wholesale, at estate auctions. I buy where they do. Why would I need them? And the supply of new fresh-to-the-market material is nearly limitless in my area. Certainly more good fresh material than I could ever afford. Want to know who the real morons are? Silver stackers.