Thoughts on High Relief Flowing Hair gold?

IMO this price could have been good or bad, depending upon the quantities minted.

For the price of $3,640 I'd want to see no more than 6,500 minted.

At 17,500 mintage I think a fair issue price would be in the $2,950 to $3,100 range.

They built in no rarity with excessive premium. Hard pass here.

 

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Just because it says 17,500 mintage limit doesn't mean they've made that many. Their pricing grid for gold coins for 2024 shows the premiums based on spot gold in $50 increments. At the current level a 24k gold buffalo is $3,490. $1k premium is the norm.
They've tacked on an extra premium of around $150 compared to their normal 1 oz proof premium for this. People are already buying pre-sale, graded PF70 examples for $5k to $6k on ebay. The price could drop on them.... or go dramatically higher. I believe this is the most expensive gold coin they have offered so far. At a one per household limit, we'll see how many they sell in the end.

 

I think they will sell out. Nobody thought the silver medal would do well either.

 

Just picked up one. It was a much quicker process than for the silver version. Less error-like messages.

 

OK, just checked back at 9:16. It has sold out.

 

Sold out in under 15 minutes at a $1000 premium over spot. Impressive.

 

A StG MS 65 CAC is easily obtainable for less.

So, pass....

 

It is bullion. Do you not think Central Banks are over extended?

 

It’s sold out in less than five minutes. I suspect the big bulk buyers got their fill. This left nothing for us single coin, household collectors.

 

My daughter in law bought one. Got her confirmation.

 

If you're gambling on the central banks, shouldn't you be buying 1.3 or so ounces of "plain" gold instead of paying a $1K+ premium on a single ounce?

I didn't go for this one. If the aftermarket holds at $5K+, I'll feel some mild regret.

 

In two years they'll be selling for slightly over spot.

 

Stacks Bowers is actioning off the 230 gold privy mark coins as we speak. Auction closes December 12th. Not a fan of this.

 

Me either, quite the money grab by the mint. Of course, if they didn't do it, the flippers would, so.... link the the auction here

 

Through Stacks and Bowers no less.

 

I’m not the target consumer for these anyway but it sets a bad precedent for future mint offerings.

 

It’s a modern coin, it will never truly be “rare” no matter the mintage.

 

I tried to make a point… don’t use the design of an old silver coin to make a modern gold issue - it’s just wrong.

 

That's a matter of opinion. I think it's cool to commemorate these designs in 24k gold as a one off to celebrate an anniversary. As far as mintage, whatever you want to call their scarcity, it's obvious that a lot more people wanted one than what was offered. No way to know how many people purchased to flip them but aftermarket will tell the story as the years go by.

On a side note, as painful as it was, I looked at it as my only chance to get one because I wasn't willing to pay aftermarket for one.

The 2021 American gold liberty medals with the bucking horse were less popular than this and were on sale for most of the year from the mint. I like them but it wasn't a must have. Those are selling, not offered, but selling for $7 to $8k a piece this month. A PCGS 70 graded one just sold for $11k. Less popular 1 oz gold medal offering from 3 years ago.
This flowing hair gold is a high relief actual coin with edge lettering and one dollar denomination, being a first, and sold out in minutes.

I believe the mint issue price is the cheapest these will ever sell for. If I'm wrong and it allows someone to get one cheaper some day, I'll be happy for them. Yes most mint products lose value over time, but not all do. This issue price will be melt value in the not so distant future.

 

I tried to buy one but couldn't even log in to the mint.gov.
So hopefully gold prices will continue drop and hopefully I'll be able to snatch one online.