The American Eagle 20th Anniversary Gold Set sold out in less than 24 hours. What will that do to the price of this set? I checked ebay and there is already a silver set for sale and the bid is $125. A Gold set is listed with a Buy-It-Now of $3600. Listed as Pre-sale
Where did you see that the 3 coin gold set is sold out? EDIT: Nevermind, I see the note at the top of the listing. Well, heck... I guess I was wrong. People CAN afford the $2610. I wonder how many people actually ordered 10 sets. I am guessing that the price of the set (because of the Reverse Proof) will skyrocket.
how much profit did the mint get?. a totally sold out will be $68,100,000.00 10,000 gold 3-pc $26,100,000.00 250,000 silver 3-pc $25,000,000.00 20,000 gold & silver 2-pc $17,000,000.00 see how american collectors is capable and very wealthy.
Now that the gold set is done it will be interesting to watch the Silver 3-pc set since that is the only remaining set to have a reverse proof (even if it is silver). Even with the higher mintage do you think it will also sell out quickly?
I think you are forgetting that the mint had to purchase the gold and silver, at a cost of nearly $41 million. That makes their profit only $27 million, which is absolute peanuts compared to the overall budget. Now for a little fun, lets assume that they make about 825 million nickels this year (that is the 2003 mintage, which is the last year my redbook shows). Between metal costs and production costs the mint is losing 6¢ per coin (according to the recent CW article). That means that the mint will lose nerly $50 million on nickel production alone! That kinda wipes out the 27 mil they made on these sets.
Check out the completed listings on Ebay and you will find at least two sales of the 3 coin silver set for $169.99 plus $8.00 shipping. I understand the Franklins presale because it sold out so quickly but this is sad. Also, the huge profits the Mint is making off the backs of us collectors, is the exact reason why they keep on wasting so much money on the nickel!:rolling:
Hi everyone. I was looking forward to "the big day", but I had to wait till I got home from work to order any of the sets. So there I am, on the website, ordered one of the silver sets and one of the gold/silver sets and I'm trying to decide whether or not to order the gold set. I just couldn't justify it at the time ($2610 is way too steep for my collecting budget) and I hope that I won't (but probably will) regret it. Thanks for listening.
First of all I said nothing about doing away with the penny. I lilke the penny. I know that it takes legislation to change our coinage, but, I haven't seen any attempts by any of our "fiscally conservative republicans" introducing legislation to change this. Have you heard of any Mint officials screaming for these changes in legisation? It's been my observation that a government agency doesn't want to save the taxpayers money for fear of having their budget cut, so they spend as much as they can.:headbang: I must have just gotten an ignorant customer service rep from the mint because she told me the 3 piece silver set was sold out but they were still taking orders in case they had cancellations. As far as markup goes; $27.95 proof+ $27.95 proof+ let's say $15.00 uncirculated= $70.90. Plus take into consideration only 1 package instead of 3 and they've already taken their markup on those 3 prices. So now the Mint sells this product to us collectors at $100.00. Let's see 15%? riiiggghhhhtttt! Legacy Set: $22.95 proof set + $35.00 comm + $35.00 comm.= $92.95 Already marked up, only 1 package, sell for $135.00. 15%!!! Rrrriiiiiggggghhhhhtttttt!!!!!!! As I said "On the Backs of us collectors"!!!!! I will continue to blame the Mint.
The Mint's revenue is from 3 sources: Circulating Coinage sold to the Federal Reserve Bank, Commemorative Quarters, and Numismatic coinage. 2005 revenue was 481 million from circulation, 664 milion from quarters, and 626 million from the Backs of Collectors. Estimated for 2006: 530 million circulation, 757 million off of quarters, and a whopping 1.381 BILLION from the numismatic program! Again, OFF the Backs of collectors. You speak of value. Look at all the Mint products that sell for way less than original price. The sets you refer to that have been listed and now sold, were sold to someone who happened to get the lone customer service rep that said the 3 piece silver set was SOLD OUT. So he bought them. The silver Buffalo commemorative has created the problems with the "Marketplace". The hype with the Franklins had people paying over $100 for the chronicles which you can now buy for less than the $65 you could have bought it from the Mint. This free market is overloaded with speculators who are willing to buy the max then try and sell for profit. I have no problem with that, but, if the mint keeps raising their margins they will turn off the true collectors. I have a feeling with the Pres. dollar coins you'll soon see what I mean. Just my opinion.
ND86 Where do you get US Sales figures about 88K sold out of 250K limit). Demand rate generally declines dramatically after the first couple of days. I've spent hours looking for current figures for the Silver Eagles I was following the sequential order # from Website 123*** and 93,000 new orders were done from Wed little after 12:00 till 08:00 following Wed. Does anybody know if order numbers 123*** include mail and phone. New user today long time collector.
