So who's buying the new Enhanced Reverse Proof ASE?

Looks like $800 is the new going rate as of this hour. I honestly thought they'd peak somewhere below that. How high will the raw ones go? $1000? $1200? Double-eagle money?

 

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Insane...

 

P.T. Barnum is probably trying to dig out of his grave at Mt. Grove cemetery to work at the mint.

 

PT Barnum would probably not waste his time. I think he'd probably rather do 'roofing' in July than to work there.......

 

WooHoo......

 

Mine shipped today. Seeing these $900+ eBay sales makes me question my resolve to keep it...

 

The reason people don't normally give full order numbers was because several years ago after one of these limited mintage items people were posting their numbers and some people, somehow, were able to go to the mint site and cancel other peoples orders. Whether they did it as a cruel joke or in order to increase the number of coins available for a second chance offer I don't know, but it was happening. So now people don't post full numbers.

 

I don't think that can happen anymore. I ordered somethig a few weeks ago and realized the next day, it was the wrong item. I called the mint and the rep said that once an order reads 'possessing' (which mine read) it can't be cancelled.

 

Probably can't, but the reaction from back then still carries on.

 

$1200, achievement unlocked!

(There was another asking $1200 that appears to have accepted an offer of $900, and one since then that was bid up to $1000. Also, one listed at $500 BIN, and lasting the usual three minutes. At this point, that's like listing a double eagle for $700.)

 

Remember what they say when something is too good to be true. I saw a local ad for a dealer offer $749 to buy.

 

I'm not sure what's "good" here, except for the people who are still sitting on one or more...

 

A double eagle has intrinsic value of 1 ounce of gold. This ASE has intrinsic value of 1 ounce of silver. Wake up sheeple, do not drink the kool aid!

 

And a $100 bill has an intrinsic value of a few cents, if that. But I'm feeling generous, so I'll give you a substantial fraction of face value for every one that you send me.

To put it another way, few of us had opportunities last week to buy a double eagle for under $60. I surely would've taken that offer.

Or, if you prefer, few of us who bought double eagles near melt last week have the opportunity tonight to sell one for $15-20K. I'd jump on that chance, too.

 

There is a false scarcity that is perpetuated by a few with taking an object that is a few days old and making weak minded folks think it is suddenly worth 50000% more than its original sale price. You can clutch the capitalism straw all you want to rationalize your point of view. Smoke and mirrors makes a modern 1 week old silver eagle equivalent to a historic gold double eagle.

 

It's like if the 2009 UHR sold for $60,000 !!!!

 

I have never flipped a coin but at these prices if I had actually gotten one there is no doubt I would have flipped it and bought a regular 1/2 oz gold maple or eagle.

 

I agree if you can sell it go for it. I am speaking to the buyers. Cut the demand snd you cut the price.

 

Tell it to the people getting trampled to death each year on Black Friday trying to get the latest "hot" toy.

I agree that we're seeing irrational behavior here, but I'll take "couldn't check out once it was in my cart" and even "had to pay hundreds extra on eBay" over "went down in the surging crowd". Just a bit of perspective.

 

Don't overlook the real buyers on some of these listings are ultimately the TV buyer population. Nobody talks about this but years ago during flip frenzies we, meaning the boys, identified, what we'd call the whale buyers. A mass text would follow up with a raise the price indicator as "they" just buy up huge quantities regardless of price.

I specifically recall the 1 release being steady $750...then linked the whales, leading to $1200 within a day.

Back then we also had watchcount days to verify the whales and that was very cool as their buying histories were a tell all.

Meanwhile, back at the ranch, while there was fevered discussions on these rapid price progressions most thought the driving force was collectors, but some knew better.