Help me understand

Sold out in less than 20 minutes......someone wanted them bad enough!

 

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More like 5 minutes.. wowzers

 

Yeah, Lee Minshull and all the little Minshulls, SilverTowne, GovMint.com, etc. "Round up the usual suspects." There're more sheep to be shorn. And yes, it's BAAAAAD.

 

I was logged on to buy one but they were sold out in 4.26seconds.

 

Yeah - same coin dealers that wanted the gold Mercs that they are STILL trying to get rid of them!! All the Internet dealers I follow and all the TV sellers still have them for sale. I've seen them as low as 249$ now with free shipping.

 

I believe I've seen slabbed SP70's with the OGP thrown in for $270. At an issue price of $210, that's not bad for a 70. But then again, I hate the coin with a passion, so I wouldn't be buying even if it went for melt for a SP70. That's just the kind of ornery cuss I am.

But hey, the modern coin wholesalers could be added to the Geico "It's what you do" ad program. They have to be jerks about monopolizing new issues. It's what they do.

 

I agree that the TPG grading of modern coins is a complete racket. Here's my thoughts. Some coins should always be certified. 16-D mercs, 09-S VDB's, $3 gold, and many other coins are highly counterfeited or genuinely rare...or both. This is where tpg shines. I mean, can you imagine buying an 1804 dollar that's raw? Most people would shudder at the thought. So tpg has it's place in our hobby....it makes coins easy to sell and provides a safety net for collectors with less experience.
BUT....modern coins in slabs is a bad idea. Today in the shop I sold an MS70 NGC gold buffalo for the same price that I sell raw ones for. The ONLY people that certify gold eagles, buffalos, silver eagles, etc are the con men that sell overpriced crap on TV. Selling graded coins gives them credibility and it's easier to sell coins at exorbitant prices if they're graded. And we all know that the tpg's exploit that to the fullest. Registry sets are an excellent example. They're not promoting coins or coin collecting as much as they're promoting coin certification.
ok that's my rant for the day. Unless I come up with another one.

 

It's cardboard, but if you want a "First Strike" label it's $25 extra.

Chris

 

No no, that's a really GOOD rant. Registry sets are a perfect marketing ploy for people who can't enjoy coins without a competition angle. I find them borderline offensive myself, but they aren't targeting MY demo with registry sets. I buy coins as if it were still 1973. I buy what pleases me and I don't care to be led around by some ring inserted in my nose by some Marketing MBA at a TPGS or a major auction company. I find what they've done to the hobby equal parts offensive and comical. So I just laugh and continue to do my own thing - enjoy the study of the art and history without the need to gameify it.

They're coins, people, not Pokémon. You do NOT "gotta catch 'em all". Besides, if you have a reverse proof Roosy dime, you already have the "coin of the century", right? I'm pretty sure I read that right here on CoinTalk.