MonumentMetals offers $100 to be their shill

The beginning of the email I received:


Do You Want To Make $100?
Thursday, Nov. 14th @ 12PM Noon EST
Turn 5 Minutes Into $100 Profit!
Dear Precious Metals Investor,

On Thursday, November 14th at 12:00 Noon EST, the United States Mint will begin selling the American Eagle 2019 One Ounce Silver Enhanced Reverse Proof Coin on its web site. The coin is being sold for $65.95 each with a household limit of one (1) coin. We need a large quantity of these coins and are willing to pay over the U.S. Mint price to get them.

We can pay you $100 over the U.S. Mint price for one coin, which is $165.95 (plus we cover your shipping and insurance both ways)!

Simply purchase the coins from the U.S. Mint here and ship it to Monument Metals (at our expense) once it arrives. Be sure to choose the expedited shipping option to receive your coin quickly. As soon as we receive the coin, we will immediately send you an electronic check via email. Plus, we’ll cover the cost of shipping and insurance!


So, I went out and with a bunch of web problems due to the heavy site usage, was able to purchase one. I'm torn as to whether I should go ahead, fill out their form and take the easy $100 profit, or just keep the coin ($82 w/shipping). The 'presales' on Ebay and the like are all well over $250. I've never been one to pay for the 'speculative' price on bullion, but to be honest, the 30K available sold out in 20 minutes at one to a household, so I don't think I could lose money by sitting on it. Thoughts? (P.S. I have a couple hours to decide if I want to "buy in" on their deal.

 

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Thanks for starting this as a separate thread where it belongs.

I agree, if you can make more than $100 reselling yourself, why would you take MM's pittance?

 

Better deal

Make $150 in just 5 minutes!
The US Mint is releasing the 2019-S Enhanced Reverse Proof Silver Eagle
TODAY at 12 Noon ET!
See how below:



These coins go on sale at 12 Noon and will sell out quickly (Less than 5 Minutes)!

We are paying $150 over the mint issue price for YOU to buy the coins for Pinehurst Coins! The coin cost's $65.95+$5.95 shipping. We will pay you $221.90 per coin that you deliver to us.

 

sold out

 

Are we mad because they were recruiting strawman purchasers, or because they're being too cheap about it?

 

How long will this hype hold up? Will these be selling at $35.00 this time next year or $500.00? I would be happy doubling my money. But that's the greedy businessman in me. I wouldn't purchase any ASE for much more than spot myself regardless the bells and whistles the mint may have added. But that's me.

 

There were 2013 ASE Reverse Enhanceds....I believe I paid $250 for a pair a year or so later.

 

There is someone on another site I belong to that bought one of these today and is offering it for sale for $700.

 

Kinda makes me hope he ends up getting $150.

On the other hand, finding out what asking price is too high is part of that wonderful free-market price discovery, I guess...

 

It was to be expected that these coins would (unfortunately) be used as a mechanism for speculation. Like @green18, I simply wanted to purchase one for my collection, but the site was slow, and they sold out before I could blink.
I wouldn't be surprised if there are quite a few shills and con men who look for easy money with this.

 

Hmm, wouldn't "shill" imply you were working with them to entice others to buy them at their inflated prices? Supplying them with coins doesn't seem like shilling to me. It's more like "smurfing," IMO.

 

Why are they willing to pay $100 above cost?
What if a million people agreed to do this? Do they really have 100 million dollars
in cash laying around getting dusty?

 

Only 30,000 coins of this type were minted. So, there can't be millions of people offering to sell.
A great many of the scammers/speculators know they can get $300+ for each coin in the future, so, why take this meager sum? The company is just looking for inexperienced people.

 

But this coin ISN'T unique !!!

It's a Reverse Enhanced Silver Eagle.....they can make more next year....heck, they made these 6 years ago in a larger batch I believe (either that or the price fell when I picked up 2 for $250 or so).

It's not a once-in-a-multidecade thing like the 2009 UHR.

 

I assumed it was a limited amount.
But it seems pretty desperate. Are they going to gouge their buyers
that much, so that this is a good deal for them?
Why would anyone buy from them, if they know they are getting soaked?

 

There are a lot of proof strikes as well. But there are only 30,125 of them sporting 1995 and W.

 

Back in 2011 I was fortunate to 'land' 5 sets on a site that was way more abysmally slow and inefficient. I knew the sets would be popular (and I can't remember if there was a household limit) but I was lucky and I made a bit of cash on the four sets I sold. I plowed the proceeds back into my hobby by adding to my commemorative collection.

2014 Baseball Commems was a bit different......I managed to make some money on the extra ones I bought, but I was upstate (NY) at the time and the wife and I blew it all on antiques......naughty girl.

 

Gotta add one thing......there is nothing more satisfying than making a 'fat cat' dealer cough up premium money.

 

But that was the ONLY 1995 ASE that year...this is an extra ASE for 2019, right ?

 

1995 had two proofs: a Philly minted one that had sales of 438,511 units and the special West Point that ended at 30,125

https://silvereagleguide.com/1995-silver-eagle/