Doesn't seem to be a hot item. A friend told me it'd be a good buy given it was limited to 350k. Now I'm questioning if it even sells out. Guess we shall see.
350k mintage is hardly limited in modern commemorative coin issues, in fact, is more often than not, a death sentence for the future potential of the coin numismatic premium-wise.
Krispy, it does seem like pretty misguided or uniformed advice after doing the research. Never delt with mordern commemoratives until this year. Seems like most of them end up a bust for anything other then collection pieces. Given their sold for way over BV. Glad I only took one proof and one UNC. Is there a magic number on mintage limits on modern commemoratives or does each coin stand on it's own demand?
I wish more people could see the point of collecting them than thinking to flip every new coin issued. There's just not that sort of market demand out there when anyone who wants them could buy them from the source before they sell out. Certain issues notwithstanding, some high mintage modern commems have done well, but then there is demand and appreciation of the design within the numismatic community alone. These coins strive to raise awareness and finances for special interests groups but do not always attract that much numismatic interest because of it. No magic numbers unfortunately. It depends on the coin legislation how many will be voted and signed into law to be minted. Modern commemorative coins of 50,000 or less do much better when trying to flip them but even mintage numbers cannot be relied upon (check these), look at the First Spouse gold coins for instance. A very niche market and they don't sell out but have insanely small mintages and an undetermined collector market in some distant future.
There's an idiot near me who buys the commems and ASEs uncirculated, sends them to PCGS for grading, and any that grade MS-70, he triples the price. Thing is, I can pick up ASEs, uncirculated for $3 over spot from my main dealer.
Below the mark of 10,000 mintage seems to hold some value for modern gold commems, though I do not know where the line for silver and clad would be.
Krispey, you're spot on the money in that statement. I've taken to eying up modern commems just for the sake of collecting them. When their the right price of course. The flip game seems like a lot of work for not much profit. If you really wanted to profit from coins, there'd be better paths to take. Though, I never considered coins an "investment". As said before, it doesn't provide you any income holding it and costs you money to store and keep it. Though they could be considered a store of wealth given their BV and there being a market for gold and silver.
