Making American History Coin and Currency Set (TA8)

Can somebody out there who is smarter than I (which is probably most of the people on here) enlighten an old man on this issue.

First, the "S" Mintmark Silver Eagle Proof is nothing new. It is not a unique coin to the 75th Anniversary Set given the fact they were produced from 1986-1992.

Second, even if the mintage of the 2012 "S" mintmark proof is 350,000, it will still by far be the lowest mintage "S" proof.

Given the above facts (and they are indeed facts), can somebody tell me what all of the grousing is about?

Given the reality of the situation, what difference does the extra mintage really mean as it really does not change anything?

 

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The grousing is simply that folks are deathly "afraid" that this coin and currency set will devalue the 2012-S Proof Coin.

 

I'm not understanding their reasoning then. The proof could have a mintage of 495,000 and it would still be the "key date" according to the published historical mintage numbers.

In addition to that, the proof was never the focal point of the set. The reverse proof was.

 

Heck, it don't bother me know how. However, it's got some of the flipper types panties all bunched up.........

 

Some people just cannot be happy without something to complain about!

 

I think they were more worried about their computers bottoming out back then.

Got dat one

Got one o' dem too.....

Didn't get that one. Seemed cheesy to me.

[big grin]

 

Mintages matter, regardless of key date status. If 500k are available instead of 250k, it matters. It's supply and demand - if supply is twice as high, the value will be lower. It also matters that the mint misrepresented it's product and took us for fools. We were lead to believe there would be 2 unique coins in the set.

 

Everyone, send me $75 and I will buy every single set. I will then melt every single ASE within the set to create my 50 foot silver statue of myself that I'm putting in my yard. This will keep the value of your SF set at a reasonable value. :thumb:

 

But lower the real estate values for homes in your area........:devil:

 

It is my experience that the people making such a big deal of this are more wannabe flippers than anything else. It's usually the newer guys who have yet to understand that risk goes hand-in-hand with profit potential. As far as I know, the mint made no guarantees, so there is no sense in crying over the sets not being a hitting a home run. Just settle for the base hit and move on.

 

Not that I don’t take advantage of flipping opportunities, but, I didn’t see this set as one because I thought the mintage would go much higher, so I bought one set for my collection. Still, I’d prefer my collection appreciates.

The mint did allow us to believe both coins where unique to the set – check Coin World’s articles and specifically the editorial on this topic.

Looks like the in this case the only thing we can do is complain to our congressional representatives, as opposed to simply bending over and taking it, as we all do far too often. If you do complain to your representatives, mention how incompetent the mint management is to not only undermine the 2 coin set, but to also pass up an opportunity to make this new set a winner by doing something as simple as changing the mint mark.

 

I don't believe the Mint misled anybody but I do believe that everybody bought into the possible hype and allowed themselves to be midled. The only thing the mint did was to respond to public criticism over the way the 25th Anniversary Sets were handled. They opened the ordering time and the total mintages to meet public demand.

That demand amounted to 251,000+ "sets".

In retrospect, the 2006 20th Anniversary set ran into the exact same scenario except it was "twice" as bad since two out of the three coins in the set were available outside of the set.

However, it has not "hurt" the value of the 20th Anniversary Set which still, on the worst of days, brings more than double the original issue price.

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&_trksid=p4340.l2557&hash=item58952e3946&item=380459956550&nma=true&pt=Bullion_US&rt=nc&si=W3T95j8bQnPLuTsWyQsbsFnVXHs%3D&orig_cvip=true&rt=nc

Of the coins within that three coin set, only the Reverse Proof remain unique.
According to the 2011 Redbook, 448,553 2006-W Burnished Uncirculated Eagles were produced and 843,602 2006-W Proof Coins were produced.

The 251,302 looks rather nice IMO as the set wiull most certainly retain if not increase in value over the years.

Edited to add:

Mintages are only relative if the mintages exceed the collectors. The 20th Anniversary Set is testament that there are way more than 250,000 Silver Eagle Collectors.

Come to think of it, I know of a coin which has a 484,000 mintage that commands thousands of dollars each time it come up for sale.

 

The mint did more than that, read the CW editorial.

 

This set is worth 1 ounce of silver value and 5 bux face for the FRN.
If they sell it for more than $35, they are just doing a money grab.
Not interested.

 

They did. Pretty obvious.

However, I don't give a darn because I am smart enough to know that buying from the mint is not an investment. Just a hobby.
Every now and again (very few and far between) the mint puts out something that happens to be a hit, so some people fall all over themselves to get in on a flip. They should know better and find something else to invest in. They get what they ask for when they get greedy. This time the mint got greedy and out manuvered the flippers to make their own killing. Meanwhile I keep collecting for the fun of it and won't raise my blood pressure by worrying about get rich quick flips.

 

They made a killing alright - killing their customers.

 

Gotta pick your flips.........

 

It is simply the fact that the Mint surprised everyone shortly after the release date of the San Fran 2 coin set, with this Making History set.

Both containing an "S" proof.

And I'll bet the History sets will be delivered before the San Fran 2 coin sets.

Just par for the course in the Mint letting down collectors and flippers alike. Soap opera...

Much like Cointalk becoming a soap opera in each thread going off topic into asides and personal attacks.

Sad on both accounts.

 

Well gosh.

I guess folks will just ignore the below quoted part of the Coin World Editorial:

"Collectors had some advance warning that the two-coin Anniversary set may not be the only special American Eagle silver coin set to be released in 2012. In January, the Mint described the results of a collector survey and hinted that they were exploring several different American Eagle sets."

Coin World reported on the above on the Front Page of the February 13th edition of Coin World.

IMO, the only folks "killing the golden goose" are the folks which continually whine over what they "perceive" as an injustice "to the collector". They totally disregard the fact that American Silver Eagle coin sets with similar mintages and exactly the same multiple coin offerings outside the set (2006-W Unc and 2006-W Proof) continue to sell for $200 over their original issue price of $100. I cannot help but wonder why?

Maybe they are new? 2006 brought a LOT of new folks to various coin forums who took advantage of the 2006 Sets.

But then, maybe they just like to complain?

Whatever. I expect that given the current negative environment towards the US Mint that eventually each online order placed with the Mint will be accompanied with a "legal disclaimer" or "terms of sale" box to click agreeing to the terms before the order will get processed.

Maybe they oughta get back to the business of producing quality circulating coinage and only offer Proof Sets, Mint Sets, and commemoratives via snail mail?


Nah..............folks would whine just as much! :yes: