American Eagle 2019 One Ounce Silver Enhanced Reverse Proof Coin

If the mint had minted them to order they would of sold 200-400K of them like they do every other silver eagle proof.

 

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If you don’t like the price being asked by eBay, HSN and other sellers, there’s a simple solution that will bring prices down: let ‘em keep ‘em.

 

I'm not certain, but I think it may be related to the service that warrants marking a ten-cent coin up to $1000 or more just because it was minted in Denver in 1916.

On a related note, I don't see a lot of posts from people who found a silver dime or quarter in circulation, then sold it for face value because it's unethical to make a profit with coins.

 

Now, that's just crazy talk.

 

I’ll say it again. It should be of ABSOLUTELY NO CONCERN of the Mint whether its issues can be flipped profitably or not. If it is, it’s time for the General Services Administration or the Treasury Department’s inspector general to investigate.

 

Yup. It still happens, probably every day.

I need to start another thread about a project that I'm undertaking, going through a number of old tobacco cans full of coins. The owner inherited them from her father, who was a real piece of work. He had some coins more carefully organized and marked with values. She sorted those out and passed them to his (young adult) grandchildren, who promptly cashed them in at banks or CoinStar machines. The rest of the coins won't be going to the grandkids.

 

That's right. Like these horrible money greedy individuals who want to charge me 100 times face value for a w mint quarter they found at the bank or in Pocket Change!

 

There is absolutely no comparison of a business strike coin struck over 100 years ago for commerce and a coin struck for collectors in 2019. No one is saying you can't cherry pick your coins.

Completely apples and oranges. You can rationalize it all you want. I am not going to change your opinion and you won't change mine. No one is saying you cant make a buck when you use your knowledge to provide a service. What I am saying is that the demand for this modern coin less than 1 month old is completely fabricated by dealers who are creating the market price by cornering the market supply. IMO.

 

Integrity is a lost art. Particularly in the coin business.

 

Some one gets it!

 

Nothing wrong with that is there?

 

The simpler solution is to let the ones that want the coin be the ones that buy it from the mint. (For the record (once again) I don't want one - even at face value!!!).

All of these flippers, evil ones, etc. don't want one, never wanted one, will never want one...all they want to do is rape the ones that do want the coin.

 

Bingo.

 

Have you read any of my posts? I am PO'd at the ones who are ripping off the one's that want one. I am not PO'd at the ones that want the coin and got one from the mint via the "lottery" that is the mint's website. They are the innocent ones. The flippers who don't want one should just stay out of the "lottery" instead of raping the innocent ones.

And the edited Saints lost today...so shut up.

 

Not me. I can take it. I just don't like it.

 

No nothing wrong with that at all but I wouldn't have been a buyer and likely there wouldn't be 300k-600k people wanting it after it did eventually sell out and there were 200k-400K examples collecting dust and worth bullion prices.

Let's be real here most people are mad they didn't get a shot to flip $65 into $1000 or mad they couldn't get it for $65 to put it in their collections. I don't see many complaining the 1995W is out of reach anymore but people were mad they couldn't get one for under $2000.

I'm honestly trying hard to figure out the arguement here. If you just want an enhanced reverse proof, go buy the Pride of two nations set.
There was no damn way this coin was gonna be $65 the moment it hit the secondary market. We all either knew that or should have known that and even that the $400 "presales" were going to be good deals once they got out there.

I have to honestly wonder if people complained the mint didn't make enough 1909S VDB cents or 1916D dimes once the dealers started selling them for multiples of its face value or issue price? Maybe they did, whatever.

If it wasn't worth a thousand to collectors nobody would be buying it at that price and it would come down. People were selling for $400 and they were gone. People were selling for $600 and they were gone. $1000 gone. $1200 gone. People buying them are just as much to blame as the sellers if you want to be technical... damn them for having money to blow!
To sum it up. You snooze, you lose. People feel it's worth what they are paying for it.

The mint shouldn't be concerned with how much something is worth on the secondary market but if they make a million of everything there is no secondary market and nobody gives a damn about what they are selling. Collectors like rarities, they like that their collection is worth more than they paid for it, not less.

The art market is full of painting's that cost more than they will ever be worth. What do collectors want? The ones that everyone else wants that will be worth more than they paid for it whether it be tomorrow of 10 years or 100 years from tomorrow. Same for baseball cards or comic books and every other collectible. Star wars action figure collectors want the vinyl cape jawa, why? Because it's rare. if they reissued it people would still want the original in the original packaging.
So I ask? If the mint made this same coin with unlimited mintage and only changed the size of the S mintmark would that make everyone happy?

Of couse not...people would still want the one with the 30k mintage instead of the one that everyone could have. Which is why people are willing to pay that $1000+ for one and dealers will keep buying them and selling them for more until they can't sell them anymore and there are no buyers then the price will stabilize as to what people will pay for it, just like everything else in the collectors markets, even that 1909S VDB. If it's overpriced it doesn't sell. The sales would indicate this 2019S ERP isn't overpriced yet.

The "market" was there and it's always been there. Feel free to hate it all you like, but the dealers aren't exploiting anyone. They are supplying to a demand.

 

I'm wondering how people feel that this is any different than charging 100 times face-value value or more for a 2019 W mint mark atb quarter. That's a much higher markup than people are asking for this eagle.

 

First comparing it to bread lines, now rape victims. Boy, talk about cheapening real crimes.

 

The Mint needs to at least upgrade their servers, or whatever it is we connect with in order to handle a rush such as this. If their electronics had worked smoothly - there would have been happier people (like the ones who had it in their cart and then lost it). Then the only excuse would be "ya just weren't quick enough".

Greedy people will always be with us, unfortunately. Even if they came up with some kind of advance lottery for this; there is always gonna be the dealers (or people with very deep pockets) who are able to buy up the coins that others are willing to part with for the right price and just inflate the price/flip as long as the market/demand will handle it.

There is no solution for greed....