2014 Limited Edition Proof Set - "Does another scratch up job"

Andrew, I truly do respect that you want nice coins rather than the plastic. However, if that were true why wouldn't you open the set up first to make sure its of acceptable quality before you submit for grading. Even more to the point, if you truly only care about the coin why on earth are you paying to have it slabbed?

To me, it seems you ARE very concerned with the plastic. If you are, then I would only buy coins already certified in the grade/"early issue" paper, that you desire. To me it seems you are concerned about the coin, but also about the plastic, and are trying to get the slabbed coins in the condition you want at a lower cost. By doing so you are risking what happened, that is substandard coins in plastic.

 

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I know this is totally out there with regard to common sense, but what if the mint put these horizontal lines on the coins purposely......to distinguish the coins in these sets from others? OP ordered the same set last year with the same types of markings. Weird that it should happen two years in a row to the same guy.

Just a thought......aimless, but one nonetheless.

 

I appreciate all the feedback Here are my thoughts:

1. Why on earth are you paying to have it slabbed?
There are many reason to slab your coins. To turn your hobby into an investment and collection, while maintaining them in their current, if not original state. Like any investment they should be insured. Graded coins have a market value, while raw coins have an intrinsic value.

2. Did the the mint put these horizontal lines on the coins purposely? (Yes) My theory is they purchases in 2011 during the recession 300,000 plastic holders and manufacturing process. They issued the first set in 2012 (Limited 50,000) and these sets had good share of returns. The same can be said for 2013 (Limited 50,000). In 2014 the mint had 200,000 of these holder remaining and they discuss if they should discontinue using these holders. After a long delay, they side with Profits over People.

 

XD... Only dealers or show-goers got coins without the lines.

 

Obviously Chris these coins scratch easy!!! Why not have someone else encapsulate them?

 

What the heck does "slabbed coins have market value and raw coins have intrinsic value"? I just spent $2000 on three copper, unslabbed coins. Did I get ripped off for something only worth 5 cents melt?

 

...a Limited Edition set of coins from 2014...released in 2015 = bottom of the barrel

 

That sums it up!

 

More Example Coins... Whoever submit these coins must beside themselves.
http://www.ngccoin.com/certlookup/index.aspx?CertNumber=2656958-001
http://www.ngccoin.com/certlookup/index.aspx?CertNumber=2656958-002
http://www.ngccoin.com/certlookup/index.aspx?CertNumber=2656958-003
http://www.ngccoin.com/certlookup/index.aspx?CertNumber=2656958-004

 

Then why would you buy a coin sight unseen? Buy ones you know have no marks, not ones you have not seen and cannot verify are near perfect.

 

Since EVERY COIN within these "Limited Edition Sets" was available prior to the issuance of the set AND since the sets themselves are easily opened without showing evidence of tampering, the TPG's require that the sets be submitted in original, untampered US Mint Shipping Boxes. In short, folks DO NOT have the opportunity to inspect the coins prior to submission.

In the case of these "Limited Edition Silver Proof Sets", their ONLY numismatic value is "in the plastic". Whether it's the "Limited Edition" label attached to the US Mint packaging and promotions or the attribution on the TPG Label, it's about the plastic.

Now, since NOBODY, including Authorized Dealers, can inspect these before submission, the money makers are those that get the high grades.
It's more a less a blind submission and evidently, submitting a single set has certain drawbacks.

If folks really want high grade coins with a slab label that states "Limited Edition Set", then they either need to accept the gamble or just buy from those that took the gamble and won.

Is the quality "worse" on the coins than any other proof coins? Probably not since with other Silver Proof coins, the submitters have the OPTION of prescreening them prior to submission. As such, those with obvious flaws never make it to the graders tables which, more or less, really skew the population reports.

Junky Proofs is nothing new. Here's a Silver Proof I received in 2006.



They produce these coins "by the millions" and no where are any "individually" inspected. Even if they were, the US Mint knows full well that "what one man rejects another man will accept".

It's up to the Coin Dealers in the country to select the best quality coins for submission. With these Limited Edition Silver Proof Sets, that prescreening process just cannot happen.

 

Thanks for the clarification 19Lyds. I guess I am puzzled still by the OP. He said he was more interested in the coins, yet wanted them slabbed as "Limited Edition" or whatever. So if the only differences is in the plastic paper, and he said he is really only interested in the coins, why does he even care if they come from the "limited edition" set?

IDK, if it makes you happy collect it. I simply prefer to collect coins not a piece of paper inside of plastic.

 

Andrew, understand that the coins within these limited edition silver proof sets will NEVER show any marked investment potential. They could very well be losers in 50 years.

Matter of fact, since 1968, proof coins in general have ALL lost value with the sole exception of the price of Silver. Silver, as a commodity, could also get back down to 2 or 3 bucks an ounce in which case, silver coins, in general, will lose value.

The Collecting of Modern Proof coins, whether they are silver or not, should be based upon numismatic interest and NOT investment potential. For that matter, "COINS" should never be considered for "investment potential" since a majority of coins are actually "investment losers". Just ask anybody that paid $50 for a raw 1950D Nickel or $30 for a 1970 US Mint Set or worse yet $200 for a 1973-S Silver Eisenhower Proof. At one time, these coins were in fact selling for those amounts under the veil of being "Limited".

As for your comment about the 300,000 plastic holders, I believe that the US Mint has already stated that the reason the 2014 Sets were not available until 2015 was because the could not secure the correct packaging.

 

If people weren't swept up in a piece of paper that a TPG can print anything on and stick in a holder they wouldn't have so many types. How many times gas it been said that some SE is "1 if 537" because it came in a flag holder or Kennedy half is "1 of 200" because it has a pic of JFK sailing? In many instances the coin takes a back seat to the label and the so-called grade. I can guarantee you that a big customer of PCGS pays about $5 to get a coin graded while we she'll out $40. It is all smoke and mirrors and a scam unless you just get coins you like and sell them when you tire of those and want different ones.

 

Hello, I normally don't post, just read these and other forums all the time. I was looking at the NGC registry for the American Silver Eagle and saw that the 2014 Limited Edition had a slot there. I started collecting ASE and AGE in 2006, but now moved on to my type set. I still buy these annually and a few earlier coins when I can get them. I am amazed that the 2014 Limited Edition ASE is selling for about $500 in either NGC or PCGS for PF70/PR70. They were selling for about $1K back in April and continue to plummet. I do not see the value in this LE coin as there is no difference than my normal 2014 proof coin. i will wait till the price has gone down to $150 and then pick one up.

Oh well, I am glad I moved on to my type set

 

I think , he really want whine with his coins

 

You bought them--you got them. If you don't like them, sell them. It isn't anybody else's responsibility to give you a coin that you like but your own. Why did you buy them? If you got them unseen, that says it all--don't buy unseen if you aren't going to like them. Obviously, you only want an MS 70 in a perfect holder, so you should only buy coins face-to-face.

 

That is utter nonsense. I have examples of coins of the same varieties without lines. Methinks you are buying blindly. If you're that fussy, buy only in person.

 

Thanks all for your advice.
I've learned a lesson from this experience.

1. If you desire graded coins then buy them already graded.
2. Don't transfer your coins to any third party without looking at them first.
3. Enjoy your coins in their current state
4. Sell coins you don't enjoy,maybe, someone else will enjoy them.

 

I would agree. Limited Edition is merely a title. The price probably will continue to drop.