Hey guys, I have an interesting question for ya... what would you guys recommend buying from the mint in the hopes that in a year or 2 you could turn a good profit?? Some have told me the ASE's were good, what is the deal with the 2006W, why did that skyrocket? Any input is much appreciated! Jim
You want the truth ? It's always a crapshoot. And just like playing craps in the casino, most people will lose more than they win.
Well none of them will go down in value significantly... but what goes up in value depends on how popular they end up becoming, and how demanded they are, especially when they're no longer available directly from the Mint. That's hard to figure out in advance, it boils down to how popular the design is, both amongst collectors and non-collectors, as to whether it will sell out quickly and whether people will want to continue to seek it out after the Mint stops selling it. Any gold will go up as gold does of course... 2006W just turned out to have a lower mintage than expected, and then everyone wanted to jump on it because it looked like it might become a semi-key. Most ASEs have huge mintages (the 20th anniversary reverse proof, and the 1996W, are the exceptions, not the rules) so I wouldn't expect them to go up much, at least not very quickly. Most are no more than double melt value at most. Platinum eagles have pretty low mintages. Might be worth looking into if you can afford it. Try to spot the popular commemoratives. The Buffalo dollar was a big one, and is still very high for a silver dollar commem. Get the 10th anniversary platinum eagle set if you can afford it. The first lady coins, especially the Libertys, may turn out to go well. Other than that it's more luck than anything else.
If the goal is strictly to make money, your best chance is probably to purchase bullion coins, gold or silver, then hope the price goes up. These coins generally have the lowest bid/ask spread outside of auction markets like Ebay, and are the easiest to resell. Some of the other coins will do better, and some will do worse. It's basically a guessing game.
I bought the uncirculated mint sets($22.95). How it turns out profit wise remains to be seen though. The premise behind buying them is that it's the only place to get the satin finish coins(and it's the first year that includes the presidential dollars). Plus the sets contain almost $14.00 of face value per set, sort of a buffer for downside risks. The last mintage figures that i seen were around 830,000. How long the sets will be on sale(total mintage), remains the key though. The 2007 set has a newly designed packaging that i tend to like quite a bit.
Thanks for all the replies guys, I think I am going to get the 2 ASE subscription package, one for myself, and one just in case silver makes a nice jump in a few years. Jim
