anyone selling the 2011 ASE set for less than a grand is INSANE

amazon has them at 995.00

 

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If we all had our witts about us, I think we would say these sets are selling in a bubble. Just like the housing market in pre-2008. If you are going to flip, you better do it now. Otherwise you may have to wait out a 20 year period, not by choice, but out of necessity. At least there is silver here if the economy falls apart in the interim. Just IMHO.

 

this is not a bubble- once the dust settles there will be 100 buyers for every seller- the price will settle way higher than current levels.

 

Well I may regret it later but I went ahead and put 5 sets on The Bay... I still got 5 more in my back pocket. While I do believe this set will do well it is hard to pass up on these first auction opportunities.

I put em out there at $3975 Buy it now, or best offer. I had an offer of $3500 in less then 2 minutes after listing it... hrm...


EDIT: Ok while searching for my auction I just noticed the MCM has NGC 69/70 sets listed... 70 set is bidding at over $1600 2 hours after listing... 2 days 22 hours left...


http://www.ebay.com/itm/2011-25th-A...350?pt=LH_DefaultDomain_0&hash=item1e685bfae6

 

Wow. ^^ That 70 set is going for 2 grand now with 2 days to go.

 

Some people have made comparison to the 2006 set. It's currently a bit over triple for what it originally sold. Wouldn't the current melt value of silver have an effect on the value of the 2006 set? Silver was valued at quite a bit less in 2006.

 

Look at this Sale ! as one auction!

2006 & 2011 Aniv sets

http://www.ebay.com/itm/2006-2011-A...223?pt=LH_DefaultDomain_0&hash=item3cbe5c100f

 

I think its inconsequential. Averaged about $12 an oz in 2006 vs $34 an oz now. Melt value of the set went from $36 to $102. A $66 increase in melt doesn't explain the $350 to $380 price currently. Which is supposed to be the depressed, cheaper price since they came out.

 

IMO that is WAY optimistic.
From what I can tell, there are 10 flippers to every one collector that bought into this deal.
Everything points to a feeding frenzy caused by hype.
Everyone hasn't even got their's yet... when they all hit the market between now and January, 'pop' goes the bubble.

 

http://www.numismaticnews.net/article/mint-stats-5-oz-program-is-so-yesterday over 800,000 2011 proof eagles sold so far this year. that indicates that there are way more than 100,000 SAE collectors. by "once the dust settles" I meant once the flippers sell their stock- at that point the price will definitely increase.

 

Many of the ASE proofs are purchased by the big online coin dealers or the TV coin shows to get graded. Also, some ASE collectors will purchase multiples of proofs for themselves or as gifts for non-collectors, so that may not be a very accurate number to use. I have talked to a good number of ASE collectors, and the vast majority bought a set on 10/27. Think about it...If you are an avid ASE collector and wanted a set, you knew about it and ordered that day or had someone order for you. Once the flippers stop flipping to each other, the price will come down. If I had "invested" in these, I would certainly take the easy profit ASAP. :thumb: TC

 

I picked up my sets at the UPS distribution center here in town last night. I haven't opened them but I suppose opening them is almost inevitable. I am keeping three sets for my 3 kids and I originally planned to sell the other 2 to pay for the 3 I planned on keeping. Now I'm considering sending the whole box off to be slabbed.

It sounds like the possibility of getting a 70 is worth the cost of slabbing these chunks of pretty silver. Imagine putting together a complete set of 70's and then a couple of sets of 69's and then selling the high value ones only. Anybody know what the odds of actually getting a 70 normally is? I doubt enough of these have been slabbed yet to figure out the percentage of 70's this release has yet.

 

I don't know if anyone really knows the number of ASE collectors out there but what we do know is that the number of collectors of these bullion coins is growing and growing fast.

Growing Demand for Bullion Coins

In recent years, the demand for American Silver Eagle bullion coins has expanded considerably. The economic uncertainties experienced during the second half of 2008 led to a dramatic increase in demand for physical precious metals. The United States Mint has experienced difficulty meeting the sudden higher level of demand for bullion coins.

During the past few years, the Mint has been forced to suspend sales of Silver Eagles on several occasions. They have frequently resorted to imposing a rationing program, which allocated available supplies amongst authorized purchasers. Despite the suspensions and rationing, bullion coins reached a new all-time high for annual sales in 2008, and then broke that record in the following two years. Current demand trends suggest another fresh all time record high will be achieved for 2011.

The high demand for Silver Eagles has also had implications for collectors. The highly popular collectible proof and uncirculated versions of the Silver Eagle were canceled for 2009, as the Mint diverted all supplies of incoming silver blanks to the production of bullion coins. Only recently have the collector versions of the coins resumed their typical availability.

http://silvereagleguide.com/

 

That article is badly written. The mint has not suspended ASE sales. The law doesn't allow them to do that.

The article you posted doesn't make the distinction between the ASE bullion coin program and the ASE collectors coin program. The mint has never stopped production of the bullion coin as the law requires them to make as many as the public demands. The primary customer of these coins are silver buyers not numismatic coin collectors. These coins have never been rationed or held from the public. They are also sold by dealers and not the US Mint. These coins sell for close to spot prices plus dealer premium. The vast majority of ASE buyers fall into this camp.

The ASE coins under discussion here are aimed at coin collectors as their cost is higher than the bullion value. This would be the proof coin, reverse proof coin, uncirculated, etc. The law does not require the mint to make these coins so several times in the past, sales were halted so the blanks could be used for the above bullion coin program. This is a much smaller subset of ASE buyers.

 

The article snip I posted made a very clear distinction between bullion and collector coins. The very last paragraph contrasted the two pretty accurately.

 

Not the part you posted.

 

I think a lot of collectors will own at least one set. once the flippers have made there money these will be "RARE"

remember these sets made history.
1) 25th anniversary
2) low mintage
3) very fast sell out.
4) only S burnished made etc.....

and the fact the 25th anniversary is the main topic of CT. says a lot.



thats my 2cents. but i'm half asleep and probably don't make cents lol