The proofs sold out in 2 hours and 15 minutes according to the Mint director with a limit of 1 per household and with the previous first spouse coins they also sold out fast and I believe in a little under 2 hours, but their limit was 5 per household. WHat does this mean? Obviously, the demand was much higher for the Jeffersons and this should carry over to the after ebay market. Furthermore, someone before could have bought 2 Washington's for themselves and 3 to throw on ebay and now this no longer worked with the Jefferson coin which should mean much less supply on ebay. Couple this with the uniqueness of this coin not having a first spouse on the coin along with the draped bust factor and this should be a sure winner. I'm confident I will be able to get $800 or $900 right when I receive my coins for each one and to tell you the truth I'm not sure if I would even part with it at those prices.
I have a feeling that there are a lot about to hit Ebay. Someone I work with was able to buy 4 of each in under 1:30 hours. After the market saw the run up many people are buying to flip. One thing to consider is that I talked to two dealers that decided not to try and buy these after being shut out on the first two and have to wonder how many collectors are feeling the same way. A run up would be nice as I have 1 of each coming my way and am planning on selling one to help offset the cost of the one I keep. Gold is over $700 a ounce. If gold falls to even $600 in the near future (14% decline is possible on metals) this will be $300 worth of gold and $800 would represent a $500 premium.
I agree. I think almost everyone who bought the limit of the first two issues planned to sell some, but a lot of collectors who bought the Jefferson coins want to keep them and, at least the ones who followed the rules and didn't try to scam the system have only one of each.
sorry guys, the series is dumb save your money and buy something older, maybe a 2.5 gold eagle (stay away from my walkers though)
At the turn of the century collecting 2.5 gold was dumb. We are collecting tomorrows collectibles. slabbed MS 68-39-70 state quarters for big bucks. Thats dumb.
If you go off of pre-sales on ebay, the future price doesn't look too good for the jefferson, don't know why I think it could be the better coin in the series.
Anything can happen, but I think that the fact that the mintage is pretty high, and that this is a collector's coin [vs a circulation coin] will bring down the price over time.
I am waiting with baited breath for my Jefferson spouse to arrive. I am not sure what I will do with it at this point. I know I can't afford it but with the way gold has been going up it my prove to be a good investment. I am trying to figure out how I can somehow use the purchase towards my IRA contribution. Does anyone have information on that aspect?
The IRA just ruled that Buffalo gold proofs are not permitted in IRA portfolios (see Numismatic News Sept 11th: cover story). You might have better luck with the Unc. The key depends on whether the mint lists the coin as bullion or not.
The Mint is doing a real scrupulous job on trying to find people who are cheating on the orders by using the same credit card with different address or cards with different numbers. If caught they will lose not just the extra orders but all orders. Some of the people who think there going to receive Multiple orders may be in for a surprise
Sell them them for a quick profit if you can and then put the extra money into your IRA. That way you have your original money back and the "free money" that you wouldn't have already had goes into the IRA. If you really want to put gold into the IRA, flip them for a profit put the money in the IRA and have the custodian (or whatever you call them) buy GAE's with the money. Having physical gold coins in an IRA tends to be very messy since you can't buy. sell, or handle them yourself but have to depend on someone else to do so, and you may have to pay for storage etc. As a general rule trying to put physical gold into an IRA usually isn't a really good idea. The rules are setup in such a way so as to discourage it.
