anyone who would buy a 25th Anv ASE set is INSANE?

Discussion in 'Bullion Investing' started by fatima, Nov 10, 2011.

  1. Danr

    Danr Numismatist

    $600 will turn out to be a very low price
     
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  3. yakpoo

    yakpoo Member

    I jumped on the bandwagon the last time a special collectible was available from the Mint (Lincoln Coins & Chronicles). I really didn't need it (I already had all the coins) but I got caught up in the frenzy surrounding their release.

    It was a Flipper's Paradise! Folks bought their sets for around $50 and flipped them for $150. I'm not a Flipper so I still have mine. At least with this new set I get a couple of coins unique to the set.

    Here's a picture of me years ago when I could keep up with all you Flippers...

    [​IMG]
     
  4. Conder101

    Conder101 Numismatist

    Sorry just my personal opinion and no offense is meant to those of you who are crazy about these things, but yes to me these are just cheap pieces of junk. Just silver bullion in a multitude of finishes made to sell to collectors and speculators at fancy prices. And I think my credentials stand as enough proof that I am "really into coins". Of course I consider coins to be something that was issued with the intent that it would circulate as money, and I have a strong bias for early 19th or late 18th century material.
     
  5. blitzen

    blitzen Member

    ....and some people will never accept the designated hitter in baseball. That's okay, don't get me wrong, no offense was taken. I'm curious though, do you consider proof coins pieces of junk? They were never intended to be circulated as money.
     
  6. x115

    x115 Collector

    the 25th eagle set is HIGH END stuff, as far as modern silver goes. I live in so-cal . people will spend more for dinner then what these sets sell for. at restaurants like Nobu,mr. chows,mastros, spargos . etc..
    to some people the price is not as important as the resale value. I think some people have no problems paying $1000 as long as they know they can get that $1000 back or more if they decide to get rid of it.
     
  7. phdunay

    phdunay Member

    The reason I bought it was because I knew that it would contain new rarer dates for the series and that if I wanted it after it came from the mint I would have to pay much more. All coins are coins and they deserve to be treated that way. I have a hard time touching the faces of my pocket change.
     
  8. fatima

    fatima Junior Member

    Baseball is irrelevant.

    I get his point completely. The ASE is bullion and intended for buyers who purchase bullion mostly as a hedge against US currency. In that regard, they have no ties to the history or events that happened in the USA. The proof versions of this bullion are essentially tarted up versions of the bullion coin and thus only demonstrate the mint's technical ability to produce nice coins. Sure they are collected by people but I understand the point as to why a coin collector in the traditional sense would not regard these as something to spend much time on.

    I think the point is constantly demonstrated here because 99% of the posts about this set have been about how much money they can make. Not one, or very few posts, on how the coins looks, how well they were coined, any distinguishing features, etc. People aren't buying these coins for that. I will continue to contend that the collectible market for this coin is far far smaller than what has been conjured up in the minds of the coin flippers which is the only thing driving prices right now. As I said before, in this type situation, it will be the ones who get in early and back out who will make the money. The real collectors will wait.
     
  9. yakpoo

    yakpoo Member

    I agree, but I think all the counterfeits have had a negative effect on collectors (or would-be collectors). At least when you buy from the Mint, you know what you're getting.
     
  10. yakpoo

    yakpoo Member

    ...and eBay, or course. :thumb:
     
  11. blitzen

    blitzen Member

    Baseball may not be the best analogy but I think you know what I mean. ASE's are not coins in the traditional sense, I agree, but the designated hitter can be argued against in the same way. I get your points but try and get mine.

    My question about proofs wasn't limited to ASE proof but to any proofs. No proofs were meant for circulation yet they were being collected for many, many years before the ASE was ever minted. Today, Kennedy Halfs aren't meant for circulation, yet many Kennedy collectors add them to their collections for example.

    If coin collecting is to continue to be popular then these new categories are going to have to be accepted, even if kicking and screaming all the way. Junk? How about the many multi-million over minted coins for circulation coins that come out every year now? What is at all rare or interesting about most them to create or maintain any kind of demand?

    I actually returned to coin collecting because of a US Mint add for the first set of ATB quarters last year. I ordered 2 sets, one for me and one for my nephew in clad....encased in the 5 coin package, and never intended for circulation Now he's a young coin collector.

    It would be great if a new breed of collectors could all be collector purists but honestly not all of us can compete in the limited classic coin arena.
     
  12. ratio411

    ratio411 Active Member

    I love all the people equating 100k mintage with "rare"...
    I think the overuse of that word is what is causing the bubble.
    100k for a CIRCULATING coin makes it relatively rare after many years of circulating.
    100k for a NEW coin, that DOES NOT CIRCULATE, does not rare make.
     
  13. fretboard

    fretboard Defender of Old Coinage!

    Here's a great idea that is sure to make the person who offers it very powerful!! To show your dedication and happiness within this classy hobby we share, here's the idea. You take one of your 2011 ASE sets and you offer it in a contest as the prize. Any contest idea you choose, as you're the boss.

    The winner of the contest will still have to pay you $350 dollars to receive the set but that would be one great contest!!. C'mon collector's with the deep pockets and an extra set. As you know the set was completely sold out within 4.5 hours :eek:and some of us weren't lucky enough to pick one up. This could be a win, win for all of us. :D


    http://www.coinnews.net/2011/11/11/american-silver-eagle-25th-anniversary-set-photos/
     
  14. flyers10

    flyers10 Collector of US Coinage

    I have actually been thinking about doing that for a couple of days now. I might just take one for the team here. My 5 sets made it to NGC on Friday so it will be a graded set. I would probably send the presentation box with them them. Cost me about $100 per set to grade so instead of $350 it would be $400 for a 69 graded set which is my exact cost. Let me think about it and think of a fair contest if I decide to do that. Does that sound fair?
     
  15. blitzen

    blitzen Member

    Rare might not be the most accurate word to describe it but it may indeed seem rare for those that have been shut out. When demand exceeds supply then it is rare in relative terms.
     
  16. fretboard

    fretboard Defender of Old Coinage!

    That sounds very fair and more than generous!! I wonder what the other's think?

    Hopefully you can work it out. :thumb: :hail: I'd love to have one of those sets and there's no better way to have the opportunity than a contest. I'll put on my thinking cap ahead of time cause I know it will be challenging considering some of your past contests>>> :D
     
  17. ratio411

    ratio411 Active Member

    Those that were shut out, were shut out by flippers throwing that word around among each other like they were hosting 'Coin Vault' at 3 am.
     
  18. flyers10

    flyers10 Collector of US Coinage

    Thanks. I hate to start another board but I might just to see the interest from folks that weren't able to get a set.
     
  19. blitzen

    blitzen Member

    Does it matter how they were shut out? 100k coin sets can't go around to more than 100k collectors, not to mention if any of those collectors have more than one set. Sure there are degrees of rarity and in a technical sense 100,000 may not fit the definition but it may at least loosely when demand exceeds supply by a large enough degree.
     
  20. Danr

    Danr Numismatist

    read a post that the average 2011 SAE set purchase was 3+ sets each. Many of those are flippers but many are collectors and many collectors bought more than one. Probably half of these went to flippers- by that guess the available coin sets number in the 50K range- bet 10K have already been sold on ebay alone. we have a week or 2 to wait for the flippers to exhaust their supply than the price will skyrocket
     
  21. ratio411

    ratio411 Active Member

    The average buy was for 3 sets because most folks figured that 2 of the sets could be flipped in order to give an essentially free keeper set. That is the reasoning offered by most that bought more than one set.

    10k sold on eBay?
    I don't figure that is impossible, but sounds VERY high to me.
    It's easy to know, simply by getting a count on 'completed listings'.
     
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