2017 S Proof Silver Eagle Congratulations set bought up by Big Coin Company's

The Mint does not resell returned products, or at least they claim they don't. Limited products that are offered up for sale after sellout come from canceled orders that were never fulfilled. Backorders come from new stock.

Besides, people that bought quantities of these to grade were likely looking to resell the lot. Why return the ones you feel are not 70 worthy when you can still easily resell the raw coin for more than you bought it for?

 

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Yep, very doubtful an issue like this would be returned.

 

I'd suggest you stop shaking your head, then possibly you'll understand the first two sentences of my post (#69). Even though I did get an order in, it shouldn't boil down to luck. One day I won't be lucky and will miss out even though I did everything right, yet was shutout due the mint not giving hoot about me, the small collector.

 

Sure they do. Sometimes they state that they are (like with the Hall of Fame dollar coins) and most times they don't. You can't tell me that they 'trash can' returned items. That would cut into their profit margins.

 

Meanwhile, the new silver krugerand, (spelling? ) is not looking so bad now huh ?

 

Maybe I missed the boat on the new silver Krugerrands but they look pricey to me. For some reason I have moved toward Maple Leafs since they always seem to be just below ASE price wise and I am buying for the long term and not to flip. On APMEX this morning the Maple Leafs are $20.28 while the ASE is $20.88. That spread is pretty consistent. Silver Krugerrands were $59.99 so definitely more in the collectible category. I have not seen any SKs out there that were purely bullion coins.

There was a dealer on eBay that had an older listing with the Maple Leafs below $20.00 an ounce and I bought some of those this week.

 

I thought they only minted a certain amount.
Those are sold out.
Back orders are then filled from returns.

 

Like quite a few silver pieces, I'll probably seek to own ONE, and only one, of the silver Krugs.

 

But you are comparing General circulation ASEs,
versus a limited made Proof ASE which the 2017 Congratulations set was.

 

Returns and "card refused" terminated sales.

 

If backorders are being fulfilled with returns, then they oversold the product in the first 2 minutes. Accepting orders for products you don't have is disingenuous at best. However, I don't see that being the case here as sale reconciliation after 12 days shows the total orders are about 500 short of product max. So the product didn't actually sell out completely and likely had some cancellations and declined payments. Returns would not have been processed that quickly. According to their sales numbers, there is about 500 coins that were never placed into an order, meaning there is still availability to fill backorders and maybe even put the thing back up in a couple weeks to push the rest of them out. If the mint does recycle returns, they wouldn't need to on this product yet as there is still unsold coins.

I cant see these being returned unless there is something wrong with the coin. These are selling for a hefty premium over original sale price so returning would be a money losing proposition unless its was unsellable. In that case, the Mint would likely not resell a product in that sort of condition.

 

This assumes that they inventoried the entire product run before the sale started. If they thought that it would have slower sales then they may not have manufactured and inventoried the entire run.

Do they manufacture all Proof ASEs before they start selling them? How do they do this for other coins/medals ?

 

They manufacture what they THINK they will sell easily, but there's a flaw in that thinking - they're clueless what drives demand.

 

Yes, I was trying to get to why the Mint could not fulfill all orders immediately.
Because they didn't have all of them available to be shipped because they didn't think there would be an instantaneous and complete demand. So some were backordered. This appears to be the logic at hand.

 

Logic, and U.S. mint in the same sentence. Is this April 1rst again ???

 

Ar, ar, ar. These are the people who estimated demand for the Truman C&C set based on the Roosevelt one's demand, never even CONSIDERING that the presence of a reverse proof in the Truman one would make any difference.

 

They know exactly what they're doing. Don't get it twisted.

 

But that is also an offer for grading rejects.

 

Feeding Frenzy..........Facile fanatics.

 

@mikenoodle
Well color me blue, saddle luv.

Does a true collector really care about a modern bullion proof? If only my pocket book could afford real collecting. & I guess I can consider myself a real collector as I still have my "worthless" coins I purchased at 7 yrs. old and they are not for sale.

I ain't sweatin' it.