Coin Pricing(2008 ASE error VS. "07" Rev. PF Plat)

It amazes me how high priced the 2008 ASE error coins are. There are almost 5000 2008 ASE NGC MS70 error coins. That compares to less than 1700 2007 Platinum reverse proofs (NGC PF70). I've seen the "08" ASE errors with asking prices up to $1000.00 in NGC MS70(about 18.00 melt value). While a 2007 platinum reverse proof (NGC Pf70) just sold on ebay for just over $1200.00(with over $1000.00 melt value). Granted there are many more silver eagle collectors than platinum eagle collectors. But with the ASE error more than doubling the platinum reverse proof in 70 grade, their pricing should'nt be so close to each other!

 

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It's a fad thingy, it will wear off I bet and return to a normal mule coin price. Or, call it registry fever strikes again, I don't know, I don't mess with moderns

 

I have seen many comparing the mintage of these coins to the ghost of the '95 w proof silver eagle with a perceived similar mintage. Anyhow these coins appear to be going up daily, for now . Where they go or do not go is any one's guess. I do believe they will always be popular but to what level , who knows.

Bottom line is there are people who have the financial resources to get what they want without a second thought.

 

I think you meant 17,000. The Pt reverse proof is very much a niche coin, and bullion. Another good example of
inflated values are the high grade satin finish coins which are base metal but can sell for hundreds just based on the grade.

 

Ebay was founded in 95. How many people even had access to the internet for several years after that? How could anyone find out the mintage figure for the 95-W or the buy/sell price? You had to wait months (years?) for the coin magazines and the Redbook to come out with that information, or go to a coin show. Today you can find out just about anything in seconds. With that much information available to the masses, it's very easy to generate hype, provide information, or quickly buy/sell anything.

I believe there is quite a bit of hype (comparing the coin to the 95-W) driving the price of the coin up. You can "day trade" this coin like an internet stock. There is some very serious money chasing the PCGS MS70 08/07 ASE right now.

I have 4 ASE 08/07 coins. I paid $150 (NGC MS69 ER) and $325 (NGC MS70 ER) from an online retailer the first week I found out about the variety. I then got 2 raws from the Mint after reading in another forum that the Mint was shipping the 08/07's in the mid to late April orders. I may sell one of my raw coins if it hits $500. It'll pretty much pay for the other coins I bought and plan to keep in my collection.

For now, the Ebay'ers and a few large coin dealers are setting the prices. It'll be interesting to see what happens when the PCGS Price Guide and the Redbook assigns a value to the 08/07 variety.

 

From the moment the very first ASE 08/07 coin was listed on ebay with a price of around $200 the level was set.

I often wonder if it was first listed at $100 in the beginning they all would have stayed down low around $100.

 

I recall reading that Modern Coin Mart or Gainesville Coins had the ASE 08/07 variety for $69 or $99 initially. The price had gone up to $150 by the time I knew about the coin and ordered by my "gut feeling."

Those 2 retailers have both raised their prices repeatedly as the demand for the coins have escalated and their supply has diminished. If the retailers suddenly decided to bump up their prices, the ebay-ers would immediately ratchet up their buy it now prices, and bidders would probably bump up their bids.

So who sets the "anchors" for the prices? If the Red Book publishes a $500 price, but the retailers maintain a $800 price, what is the true price?

I'm guessing the 95-W's price is anchored by the PCGS Price Guide and the Red Book. In a few years we'll have a better idea of the value of the 08/07 variety, but for now we're drifting asea with no anchors.

There are some ebay-ers that are throwing out ridiculous asking prices (e.g. $5,900 for a 08/07 PCGS MS70 FS). What if someone pays that price? Will the anchor be set?

 

I think these may be considered varieties and not errors and if that is the case then they will probably hold a high value like they are trading at.

 

Hi, the under 1700 number was for the reverse proof platinum coin in NGC PF70 grade. Granted, there are also numerous PCGS PF70 reverse platinum coins also. The 17000 figure is probably the total 10th anniversary sets sold so far. If the Mint melts the remaining unsold platinum sets, they may take a jump in price.

 

Do you think the mint might melt the remaining unsold 10th anniversary sets? Or would'nt they do that?

 

Why? The RP platinum is basically trading as a bullion coin which means that there aren't enough collectors of this coin to support a higher price than bullion. While on the other hand even though there are 5000 of the 08/07 ASE's in MS70 that number is so far below the level that would satisfy demand that it is supporting a price of 55 times it's bullion value. The fact that both coins are close to $1000 is just a fluke and has nothing to do with the fact that one has twice as many graded as the other one. It all comes done to supply and demand and in one case a supply of 1700 is too many while in the other 5000 isn't anywhere near enough.

 

Hi, i agree with your statement. But with around 47,000 2008/07 ASE errors, compared to 17,000 2007 reverse proof platinum coins(sold so far). I tend to think the ASE will go down from here, as they are currently red hot(As have the 20th anniversary ASE sets have come down over time).. While the 2007 reverse platinum will rise if the bullion price stays steady(Or if the mint melts the unsold sets). Just my opinion!