Reverse proof Roosevelt dime most significant coin of century.

The problem I had with proofs in albums was spotty toning/pitting on the mirrored fields due to small/micro bits of cardboard settling on the coins - no matter how clean you think they are, it's impossible to have them completely clean due to the nature of the cardboard album. But, then you may get lucky.

That's 56 coins if you include DC & the Territories.

 

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That's why Air-Tite albums are so great. No cardboard bits on the coins.

 

WOW! Approaching 500 listings on eBay and average prices still holding - can't wait for these to dry up.

 

LOL.....

Reverse Proof 70 prices are dropping fast as normal, even the raw reverse proofs are down.

Raw sets will settle at apx. $100 give or take a few bucks.

 

Are you afraid something horrible will happen to the going price of these in the absence of incessant hype? I type this as a collector who has bought one set, early, and doesn't want to sell any others, because I really have difficulties with the flipper mindset.

 

You have difficulties with the mindset of people wanting to make a profit?

 

By artificialły creating a temporary shortage by buying up more than they want for themselves? Yes, I do have a problem with that. The better question is, "Why don't you?"

 

I don't pay much attention to the hype, most of my purchases are for the long run.

I hear what you're saying about flippers. Long run prices would get here a lot sooner if all coins were bought for collections, so few hit the market. But hey, flippers are just the 21st century version of dealers - they buy stock and sell it. Due to this new form of dealing, we have to wait for the supply to be absorbed into collections before we can see what the true supply & demand will be.

 

Rather than a shortage, I'd say flippers flood the market. It's not all that common for an issue to be so limited that flippers get most of them - so, flippers order more than the market demands. Sure, there are some issues the flippers corner the market on, like the 2011 ASE set - we still see the market flooded with these, but they are starting to dry up.

 

Or the 1964-2014 gold Kennedy half? It is still possibly the coin with the largest percentage of original purchases made by people who didn't want to own one. That is a little obscene when you think about it.

 

Yep, that's a good example. But hey, that's the coin business going back many, many years. Many low mintage classic coins have been hoarded for speculation/dealer stock, the 1931-s comes to mind.

 

1950-D nickels. What's strange is many old timers still think they're as special as they were in the 50's and 60's, and they're just not. They're falling out of the sky these days. What's rare is a well worn 50-D nickel.

 

I have no problem with it because I have extra money in my pocket today thanks to flipping. Every business in life is buying and selling. I did not create a shortage. Everyone and their mother had a chance to buy these from the mint.

 

This was widely publicized, well in advance, as a limited-mintage release. Even so, it took a week or two to sell out.

I have no problem beating myself up for all sorts of things, but under these circumstances, I'm having a hard time feeling guilty about doing a flip.

 

I don't get too upset about the speculation in coins, since coins are not a necessity - it's capitalism, it's driven by greed. Now unregulated capitalism/greed does harm many when the commodity being hoarded is a necessity, like housing.

 

It all just strikes me as excessively unseemly. If you want to be a dealer, be a dealer. If you want to be a collector, don't moonlight as a part time dealer.

 

You're a regular entrepreneur, Jeff.

 

No, it's still pretty irregular, really.

 

So you are OK with dealers doing it, but not collectors? How does that even make sense?

 

That's not all that hard to figure out. Dealers make a long term commitment to the hobby, have overhead, expenses, have ethical obligations (whether to eBay, the ANA, or the PNG). A collector flipping scarce modern issues is basically a leech sucking the life's blood from the hobby.