As if “First Strike” et all wasn’t enough: (Excerpt from Coinworld.com) Numismatic Guaranty Corp. has been grading and encapsulating thousands of the previously unsold Mint products with a grading label indicating “West Point Hoard.” Why not call it what it is, “Unsold coin nobody wanted”
it is starting to remind me of the Baseball card collecting craze of the late 80's and early 90's!! Lets hope we don't have a steroid scandal involving the Mint employees
There seems to be 2 different years 2017, and 2016( it might have been 2018) of proof silver eagles. The Coin Vault is selling 2017 and Ricks US coin show is selling 2016(or 2018). They were sold to "select" dealers instead of destroyed. The prices are 149.98 and 199.99 for a 70. Coin Vault says the Mint decided it can make money off the coins instead of losing from unsold coins. Rick said that the mint was doing collectors a favor giving them a "rare" issue . The Redbook is going to treat the issue(s) as a hoard just like the GSA hoard. I can't believe the Redbook would go along with this crap. Mintage figures will be useless as long as unsold coins can be resold in upcoming years.
That was what I thought. So this is a marketing scheme by one of the TV dealers that likely twisted NGC’s arm a bit. I most imagine the TV dealers are big business to the TPG’s.
Yes! I saw Rick last night hawking them as rare issues at $199! The way he pushes his high priced coins as investments is borderline illegal. And now Red Book?! The end is near!
Unless they have made a change recently they don't have separate listings for the GSA coins and don't even mention them in the text, or at least they aren't even mentioned in the index of my copy. (I take that back, I did find mention in the Redbook. In the introduction, a single sentence. "These were later sold at strong premiums in a series of auctions held by the General Services Administration.") So if they are going to treat them like the GSA Hoard, that would mean they are going to ignore them.
thanks for the info. Ricks coin show stated that they were separate from the original mintage and used the GSA as an example of a hoard.
