I placed an order with the Mint for a second UHR gold coin. I already have one which I bought for $1189 early in 2009. I had intentions of selling the coin on EBay but the more I see the prices out there, they are at about the same price I bought the coin for! Actually if I sell the coin at that price, I stand to lose money after the EBay fees are considered. The coin should be arriving in my home tonight or tomorrow and I am seriously considering sending it back. Ideas???
I would keep it. A one year type of a beautiful classic w/ a low overall mintage. Seems like the price over spot is high, but compare it to the Buffalo silver comm. or other modern rarities and it doesn't seem bad to me. My guess would be that this has as good a chance as any to be a good relative value in the future. Just my opinion.. Lack
It is my understanding that the overall mintage is not considered "low". Maybe I am misinformed. I had the opportunity and the cash to buy a UHR from the mint on the last day of its offering. One of the reasons I decided against it was because the mintage was so high.
UHR mintage is currently around 112,065. Many people say this is a high mintage but for a single year issue I disagree, especially if you give the UHR some years to gain it's footing amongst collectors. Some of these coins will be lost to the melting pot over time and the actual number will likely settle back, not in the thousands but some lets say. Future collectors and those overlooking the coin now as "bullion" or those who are unable to buy one now will be after them later. A lot of these UHRs are already stowed away in safe deposit boxes for the long haul and have been taken off the market. Hang onto those you can afford to own. Give them a few years, not just a few days since going off sale at the Mint, before giving up on them. They are beauties and anyone able to own at least one should be proud of it too. hya:
I thought this in the beginning and I'm still of the same opinion - the UHR has a lot of potential. But it may take time (10 yrs?)
Ideally, if you are buying a coin to flip it, it pays to study the market before you buy the coin but hindsight is 20/20. If you can afford to keep $1500 tied up in it, keep it. For a 1 once gold coin the mintage of over 100,000 is extremely high. Since it's not part of the AGE series, no one needs it to complete their set. It's a conversation piece and while fun and a curiosity, I don't hold out much hope for long term collectability. I own one. I also got mine for $1189 and I only got it because it was an oddity. When the magazines like ArtNews and Vogue started running full page ads advertising the UHR and mintage broke 100,000 all hopes of significant appreciation went out the window. But it is cute but I don't need 2.
If your only intention is to make a few bucks off it, I would send it back Tying up that kind of money for a long amount of time in my opinion Wouldnt be a great idea, On the other hand if it,s something you want To add to your collection then that,s a different story!
