THE weird LIBERTY BELL coin like MINT product

did I miss the opportunity here? I did not jump one this one because it was to weird

 

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I didn't see much opportunity with this one myself.

 

I was reading a thread on some other site from people who tried to buy. Sounds like it was another meltdown - people waiting in line, then getting kicked out when they tried to purchase.

From what I read, the silver was a near-instant sellout, and the gold (both sizes) sold out in about 20 minutes. I think someone said one of the big online resellers was offering a $500 bounty on the silver; I guess that by itself is enough to explain the frenzy.

I don't see any of these three issues as coins, even though I guess the gold pieces match the technical definition. They have a face value. Two-and-a-half Union? One-and-a-quarter Union? Quinvigenuple eagle?

Oh, I'm making this too complicated. The gold coins are one and two kilobits!

 

These Liberty Bell things were so over priced that they were a million miles away from my radar.

The mint has become an agent for collectors with high budgets only.

 

Half ounce silver $35.00 give or take, pass/pass/pass!

 

I passed also. Besides, there's a crack in the bell.

 

From the PCGS forum, people who got in from the wait room after a minute still were not quick enough. So it sounds like the silver sold out in less than one minute. The speculation is that bots were used or people have figured out how to bypass the wait room. The current resale price on the silver (issue price of 750) is in the 2,500-3,000+ range. The gold coins on the other hand are not seeing much action above issue price. After eBay fees, the sellers might be breaking even. The main draw on those coins was the credit card rewards (but that also evaporates if the seller can't at least come close to breakeven).

 

The gold coins sold out at a 100G's in a half a minute?

 

A 1/2 ounce silver metal medal for $750 when silver is only above $55 an ounce and dropping. If you can’t do the math that’s only $27.50 worth of silver. Do you have any idea of how long I’d have to live to recover my money?

 

They are reselling for $3,000 or more now so anyone that sells is recovering their money and getting a profit on top. Now will that hold long term? I am guessing it will not but given how high it has gone, I don't think it will fall below issue price for a while.

 

The gold was closer to 20k (1 oz) and 10k (1/2oz) and it sold out in under an hour; it was the silver at 750 that went in under a minute. However, both gold are back up for sale now. So it seems like there were many cancellations and/or declined credit cards.

 

I know, but I’m not into that kind of risk. I’m much more conservative with my money and take a chance like that.

 

I paid a few thousand dollars less for this coin than I would have for the Liberty Bell gold piece. I'd much rather have this coin. It's an 1860-D $5 gold piece in an MS-62 holder.

 

I much rather have that piece myself!

 

There is nothing wrong with that.
To some degree, the silver medal was a risk free profit maker for those who locked in with sellers offering more than issue price in the days leading up to the release. Of course the issue with locking in a deal is if either party backs out after the coin goes on sale. And given how difficult it was to buy one (sell out in under a minute), it could have led to some uncomfortable conversations for buyers that got shut out.

 

The government made the silver piece into crap. The piece is a medal, not a coin, because it has no denomination. That means it will be subject to sales taxes in many states. The gold piece is denominated at $250. That makes all the difference.

 

Check this seller out, he's trying to sell one of these 1oz gold Liberty Bells on ebay for $100,000 and he's got his confirmation ticket as one of his pics that says he only paid $19,600 for it. Crazy asking price and foolish to place his confirmation ticket showing the price he paid for it, quite the seller!

https://www.ebay.com/itm/168540622810

 

The Mint price for these is not at all secret, and anyone looking to buy one in the secondary market will know that. I don't think blacking out the price paid would make much difference to anyone.

 

No I know that but if any of it made any sense, the buyers could just go to the US Mint website and buy their own, easy to see where he bought it from. There's still ounces left for sale as well!

 

You're right, there are! I thought they sold out in the first hour.

Ah, that poor wannabe flipper.

Edit: current inventory available to sell: 671.