2010 Boy Scouts - did I buy enough?

I already bought 10 proofs but I'm itching to get some more. Isn't 10 plenty already?

 

Log in or Sign up to hide this ad.

Personally, I feel that any was too many. The mintage is too high, too many people will be playing the flip game from the time the Mint sells out until the end of year holidays are over... with little to not meaningful reward/profit earned. Then only the high 69/70 graded coins will be worth any nominal numismatic premium for a while, but most all will go the way of the rest of modern silver US Mint commems, bullion or close to if for eternity.

 

I agree with your facts but I remember the Lincoln silver last year with similar mintage and it sold for good premiums that have held up to this day.

 

Lincoln is a giant (pun intended) in the coin and currency world. A famous president in millions of coins and collected for generations by many many collectors... last year was a hyped Lincoln year with ceremonies and new circulating coins along with collector versions... the two are not equal for comparison by mintage figures alone.

 

Yes and look at the buffalo that was minted in 2001. It depends also on the design. A great design drives demand. As for the BSA coin I don't think that the design will drive demand, but that it represents a popular organization it might drive demand. I don't know how much of a premimum will be demanded for the coins at this point in time. For me it is too early to say if it will be a winner. With the high mintages who knows.

 

good point krispy

 

looks like Krispy beat me to the punch. The buffalo and lincoln are favorites among collectors.

 

is 350,000 considered a high mintage? would something say in the 100,000 range have made a big difference? considering the number of individuals who are or have been in the Boy Scouts, I am thinking 350k is going to be sought after

 

Right, there will be popularity in demand amongst Scouts and former Scouts but it will end or cool after the coins become hard to come by and the numismatic collectors that wanted them got them. There just will not be a big premium amongst coin collectors willing to pay for such a coin and many non-collecting Scout's families will also likely not want to put so much money into a coin if it has a big premium.

The argument is being made about the Scout's merit badge for coin collecting but how many will require THIS coin to obtain the badge? How many will care for THAT merit badge amongst the many to acquire? How many will get the coin collecting badge and continue with collecting? Methinks, few in these cases.

 

krispy I have to single you out as being one of the fellow CT members who I can count on for sound, reasonable advice time after time. All the best to you my friend!

Now tell me if you think I should buy more than 10 Lincoln LP5's debuting today???

 

Last year's Lincoln C&C set sold out 50,000 units in 3.5 days and has maintained it's price around 2x retail. I feel that once an issue goes over 50,000 it's too high. Read elaine1970's threads on Up To Date Mintages and other US Mint modern gold and silver issue coins, she tracks retail prices and mintages from the secondary market and CDN. Modern silver commems almost always fizzle over time. Look at the Louis Braille and Ben Franklin already... Louis Braille was the first US coin with braille type and not many people care about special features. The list goes on with failing commems. Now, the FS gold coins have really, really small mintages. Read Yakpoo's FS coin threads, he's avid about them. But! there is still a very small interest being paid to them due to the ugly designs and unfamiliarity with the personages on them...

 

Thank you.:smile

Again, I would not buy the LP5s unless you specifically need them in your ongoing personal collection. These will be plentiful in the future and you know many out there that will appear online in auctions will have been paid for at face value at the ceremony. Be patient and you will have the opportunity later to buy them cheaper. I wouldn't play the flip game with them either especially since shields have been out in banks in PR since very early in the year and people are getting them in banks and in circulation already. The Mint really botched the timing on releasing this coin.

 

I believe that with the popularity of the Boy Scouts, and the millions of former scouters, that this coin will hold up well and will sell for a premium in the future. I believe a lot a non collectors will want this to give to new eagle scouts, to have as a scouter, etc.

I could be wrong, but I don't think I am. I got three, because I could not afford more at this time (5 kids still at home, enough said). I expect to sell one or two of them for a profit.

JMHO

 

Let us know how you do with the profit flipping idea, that's where I see the big problem in your's and everyone else's idea who want's to flip these instead of honor a Scout with them.

 

Will do.....I may give them to my Sons instead of flipping....but two of them they currently have no desire for coins. The scoutmaster of my son's troop wants one, and if he does, I'll sell at cost. However, in the long run, I think this issue will hold a good price regardless on what I do with mine.

 

I'll admit that I bought them primarily to flip. But as a former scout, I may want one for myself, and I do plan to give one to my nephew, who recently made Eagle.

 

I hope to hear from folks flipping them how they do on the deal, if it was worth it to you, etc. Glad to know some coin collecting folks have Scouts in mind as recipients.

 

It really depends on if your going to sell them or not, They are probably
Close to selling out if not already !!

 

If ya flip 'em on FeeBay you'll have to get $55 each to break even.

Final value fee
PayPal fee
Listing fee
Mailing supplies
S/H fees
Gasoline
Your time
Uncle Sams share.....:kewl:

 

They are not reported sold out yet.

Over 266,517 reported sold of the 350,000 as of 4/6/2010.