Advance Releases ASMs

Discussion in 'US Coins Forum' started by Terrifrompa, Feb 28, 2021.

  1. Terrifrompa

    Terrifrompa Member

    I watch some of the coin shows on TV. I saw a brand new NGC pedigree called "Advance Releases". Apparently, the Mint invited 18 of their biggest buyers to buy the 2021 proof Eagle 3 days before the Thursday release to the public. Those dealers who bought the proofs could send them to NGC and as long as they were received prior to the noon public release they qualify for Advance Release. They bought less than 10% of the mintage on Monday. The price I saw for a 70 was $499.98. I am beginning to think that this is the future of the hobby. First day of issue, emergency release, etc., might just be how collectors will collect modern mint coins. If you wanted to have a complete set of ASEs, maybe it is important to have all of these sub-types, even if they are created by the Mint along with the big players.
     
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  3. Collecting Nut

    Collecting Nut Borderline Hoarder

    If people would wise up this sort of thing would go away.
     
  4. Inspector43

    Inspector43 73 Year Collector Supporter

    In the long run it will be a big waste of money. 25 years from now nobody will care when it was released. All these gimmicks are fabricated to sucker money out of new collectors that are thinking that they will be ahead of the game. Do you want to collect all the coins or all the labels? Bad investment.
     
  5. Inspector43

    Inspector43 73 Year Collector Supporter

    Giving these dealers early access to large quantities at a discount is one reason that you get "product unavailable" 2 minutes after the official release. I quit buying these pseudo collectables.
     
    Evan Saltis and Garlicus like this.
  6. Garlicus

    Garlicus Debt is dumb, cash is king. Supporter

    It’s all about the hype.
    For example, take an ‘Emergency Release’ ASE, crack it out, and put it next to a regular bullion coin. There are ZERO differences between bullion coins minted in other facilities.
     
    Inspector43 likes this.
  7. baseball21

    baseball21 Well-Known Member

    Says who? Everyone knows what it is and no it's not just new collectors buying them. Some people like things like that. It's okay not to like it, but it doesn't mean those that do are clueless
     
  8. Inspector43

    Inspector43 73 Year Collector Supporter

    Collectors of the future will be interested in the coin only. Heck, you can't even get back what you paid for a mint set or a proof set a few years ago. This packaging scam being run by the mint, TPG's and dealers is costing many people a lot of money.
     
  9. Inspector43

    Inspector43 73 Year Collector Supporter

    Again, you have your opinion and I have mine.
     
  10. baseball21

    baseball21 Well-Known Member

    My only opinion is that I don't look down on people for liking what they like when it comes to collecting. The hobby would be much better if people weren't always belittling collectors for liking things they don't
     
  11. tommyc03

    tommyc03 Senior Member

    "Dealer Privledge" is just plain wrong.
     
  12. Inspector43

    Inspector43 73 Year Collector Supporter

    I don't care what you say about it. But, these gimmicks and deals between the dealers and the mint take thousands of coins out of the pool that should be available to the general public. The dealers get them early and at a discount. When a collector tries to buy one they are unavailable one minute after release. Not right.
     
    David Betts and Collecting Nut like this.
  13. baseball21

    baseball21 Well-Known Member

    When you spend millions a year with them it's not surprising they get some perks here and there. Every company does that for their largest customers
     
  14. baseball21

    baseball21 Well-Known Member

    They don't get an early shot on the things that sell out that quickly. They only gets shots here and there on high mintage items. Everyone has the same shot on the things that sell out that fast.
     
  15. Inspector43

    Inspector43 73 Year Collector Supporter

    The ASE Proof went on sale Feb 11. The mint sold 678 40 coin packs to dealers at a discount. That is 27,120 coins that were not available to the general public/collector. The product was sold out immediately and was no longer available. Do yo think that is right? Do you think that is fair?
     
    tommyc03 and David Betts like this.
  16. baseball21

    baseball21 Well-Known Member

    That's not even 10% of the mintage. It's more economical for them to sell some bid orders like that and those orders would have happened anyways. It's less man hours for them to make a couple big boxes than a lot of individuals and the big dealers don't do a bunch of returns like collectors do. It sold out but it wasn't instant and I have no problem with them giving a small percentage of large mintages to places that spend millions a year on coins. Every business does that and thats exactly what the mint is when it comes to collector coins, a business. All the major mints of the world do the same thing and several of them give significantly bigger discounts than the US mint does.
     
  17. David Betts

    David Betts Elle Mae Clampett cruising with Dad

    No dis respect by any sorts, but do you work or lobby for US Mint? Curious, I thought collectors were collectors and preferred sellers we're well ( vultures) to the common collector who just wants 1 coin not thousands to list on eBay?
    When a guy like me that bought 27 coins last year from mint and didn't get auto enrollment filled and I see thousands on eBay? I smell a rat?
     
    Inspector43 likes this.
  18. baseball21

    baseball21 Well-Known Member

    No affiliation to any mint or company that benefited from it. I'm just practical and being someone that does world coins as well this is par for the course with the major world mints. In the last few years the US mint has just been catching up and starting to act like the other major world mints have been doing for years.

    I don't consider dealers vultures just for being a dealer, though some certainly are. They're an important part of the hobby and they do drive mint sales on a lot of items. I don't have an issue with them getting a little special treatment here or there as every company on earth does that for their biggest customers.

    Personally I like when theres a bit of a frenzy and some chaos with releases, it's much more satisfying when you get one of those and theres some excitement to it. When something is available in unlimited quantities and just sits for over a year most people lose interest anyways
     
    David Betts likes this.
  19. Inspector43

    Inspector43 73 Year Collector Supporter

    We are not talking about unlimited quantities. We are talking about the things people build their collection around. The people who want a special coins for their granddaughter. And others. If you want the coin and your enrollment is not filled, or, you can't get through 1 minute after the opening bell the only resolve is to buy it from a dealer for 5 times the issue price, A dealer that got it at a discount. It is wrong and you will never convince me otherwise.
     
    David Betts likes this.
  20. baseball21

    baseball21 Well-Known Member

    It was a 327k mintage. They sold 300k of them on opening day. This isn't some low mintage rarity. They even sold 10s of thousands more in the congradulations sets. People had plenty of chance to get them and there will be plenty available for years to come. It's not even close to one of the keys of the series. It didn't sell out in 1 minute either which you keep saying like it was an instant sell out nor are dealers selling them for 5 times issue price, not even close. They're double issue price currently and already showing signs of weakness
     
  21. David Betts

    David Betts Elle Mae Clampett cruising with Dad

    And not to mention if you bought the last 20 years ASE's like me you'd probably want the last year before new design? ( Especially) No it was more like 3 minutes as I got my notification I went online to buy a spare 1 after 10 minutes before I could click in ( sold out)!
     
    Last edited: Feb 28, 2021
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