Well I caved and opened my box of 4 as I wanted to see them in person for myself. Glad I did as I'm going to keep a set and list the other set. They are just too nice to not keep a set for myself, kudos to the mint. Although now I kind of want to get the gold version to go with them lol. Took a crappy cell phone pic
I have never sent anything to NGC. I am thinking about doing it for this one though. Just trying to figure out if it's worth it.
And that's, in essence, the tpg gamble question. I wasted a few hundred on the stupid C&C rp's last year without a single 70. I did get a Truman rp in a minor strikethrough error slab though
I think you're absolutely correct with the addendum of "Nobody would want them!" The way I see it and after many years of losing my butt on such things, is that collectors are a fickled bunch but dealers are staying the course. What this means, is that there is a LOT of activity from big and small time dealers to capture the most profits on these items from the US Mint. Once the wave passes, the prices drop! I have soooo many US Mint products that I purchased in the past in the hopes of increasing my financial share on the hobby I support that its embassessing! Today, the majority of what I purchased won't even sell for issue price much less a price that would cover my selling and shipping fee's. In short, LOSERS out of my own ignorance. Heck, even some of my silver eagles "special" products no longer attract bidders just because the selling (frenzy) wave has passed and now nobody wants them. Unfortunately, of the 2 sets I ordered, they are being shipped snail mail so I'll probably have yet another product which won't attract any bids and/or be a target for the low ballers. It is a very slim market folks and unless you're at the start and top of the wave, interest simply wanes. The mintage was correct to create the necessary frenzy on these. Any higher and you'd be looking at 25,000 Kennedy Coin & Chronicles headaches. Heck, I can't even sell my IKE Coin & Chronicles Set so thats gotta tell you something!
Just got an email from one of the big retailers...first slabbed/graded pricing I've seen for the 2016 American Liberty medal: NGC PF69 ER single coin = $179.95 NGC PF70 ER single coin = $299.95 NGC PF69 ER 2 coin set = $339.00 NGC PF70 ER 2 coin set = $579.00 And here's the kicker: NGC PF70 ER single coin with Mercanti signed label = $399.95 ! That's an 11.4 X mark-up in 3 days.
???... The presale single 70s are selling for like $500 on eBay right now aren't they. Or maybe that's for a double set?
I agree. It seems the majority of the sales on most items are dealers who make their money being the first to the market with the graded 70s and then most quickly start to lose value as time passes. Sadly this does seem to be the pattern about 95% of the products the mint puts out. The RPs from the earlier ASE sets still seem to attract a fair amount of attention, but that last West Point set they did didn't even survive their entire shipping period before falling like a rock that one was dead in the water as soon as they said mint to demand. Right even those that were supposed to have a raised mintage because they will be so overwhelmingly popular were killed by upping the mintage and everyone just thinking they can get one whenever if they want
It's smart for the Mint to keep production at 12,500. They may only break even on this, but the hype increases traffic to their website and people buying their products, in hopes that those will be 'valuable', as well.
Also agree but I would bet they still turned a profit on these. 25k total selling for almost double melt, may not have been a huge profit but I don't think they lost any money on them
this silver set should be the winner since 2006 mint products. 12,500 pc of silver medal coin only. Imagine it. Ps. I really do not like the design.
Got my grades back last night. Sent in 80 and got 70 70s. The 10 69s were from the West Point Mint. I was gonna sell quick on Ebay but I think I'll wait until they reach $4,000 each. I'd like to thank my co-workers that did a marvelous job. I'd also like to thank the USPS and PCGS for their quick response even though I paid a pretty penny for those services. I'd also like to give future thanks to the buyers of these 70s, gonna make you pay for my time and services. Heck, with those profits I can buy that 2017 Mustang GT 350R...
As I said it before. Do not buy any graded coins. You going to lose a lot of money. Any coins bought direct from u s mint are already good enough for us to enjoy. Right?. Think about it. Most coins came out from professional graded were either 70 or 69. Why bother to have them graded?.
So, you're telling us that you managed to get a coin (80 actually) that was released on Tuesday, received no sooner than Wednesday, submitted to a TPG who is currently "behind", and received the graded coins on Saturday? Let's see a pic or 2.