APMEX America The Beautiful 5 oz update

What Am I Missing Here?

I know I can be pretty slow sometimes, but why would anyone want to pay for a graded set of a BULLION whatever? Has everyone forgotten that it's just bullion? If you take a graded 1 of these whatever to a dealer, what is he going to give you? I would think he will give you 5 times the current price of an ounce of silver. Somebody out there please tell me that I am not crazy in my reasoning.

Also, thanks, John for reminding me I need to make an appointment for a physical after the first of the year.

 

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I am sorry but I don't just understand your comparison to rape. No one is forcing anyone to do anything that they don't want to do.

MCM is selling an product and they are free to place any price of their product they want. You are free to purchase their product or not.

 

CollecTons has a special today only for a set: $2695.00.
http://www.collectons.com/shop/item/36647/America-the-Beautiful-5-oz-Silver-Bullion-Coin-Set-5-Coins

 

I am going to pass on the 5 ounce ATB bullion set at these current prices in the secondary market ($2-3K). That is way too much over silver spot (and also too high of a premium over issue price) for me with also no guarantee of any numismatic premium in the future. These have a mintage that is really not that low (33K per coin)...compared to First Spouse gold coins for example (highest mintage is 20K).

If the Mint ends up issuing the collector versions in early 2011 as promised, I may buy if the price is right. Mintage of the collector versions will be less than the bullion issue anyway (27K) and may be available individually (not as a 5 unit set) directly from the Mint. I am guessing that the max price the mint will charge for the collector versions will be 2x spot per coin. So, let's use $30/ounce x 5 ounces x 2 = $300/coin. At that price or maybe even less, I may pick up a few.

TC

 

I hope you're right, TC. I really only want 2 of them -- Yellowstone and Yosemite. Hot Springs is a snoozer. Grand Canyon is pretty much of a one-trick pony. Mount Hood is not even a national park. Oregon should have been represented by Crater Lake, but wasn't because it was used on the 2005 Oregon state quarter.

The disappointing thing is this is probably the most appealing year in terms of the places represented. As the years progress, there are some pretty obscure sites earmarked. All this because it was more important that each state be represented than it was for the most beautiful places to be represented. So, why not call it what it really is: State Quarters -- The Sequel or The Contrived America the Beautiful program.

 

Wouldn't that meet the definition of price gouging that the US Mint prohibited their Authorized Purchasers from doing?

 

1

 

Treehugger, I totally agree with you. GRADED BULLION? what a joke and my favorite is EARLY RELEASE GRADED ASE BULLION.make sure you get your order in early since only 3.5 million coins were produced in the first 30 days for 2010

Read more: http://www.cointalk.com/showthread.php?t=145750&pagenumber=#ixzz19g7oh9ar​

 

That mandate was for the bullion issue and not for the collector versions. I was only guessing at a max price based on premiums placed on other collectable products at the US Mint. It may be much less and hopefully so. You are correct though: If the Mint prices these too high, they will be highly criticized. TC

 

Bullion or not, it is still a coin and a piece of art. I find ASE's to be one of the best looking modern coins. If I want a perfect set of coins, I want a perfect set of the best design. One could also argue that what is the point of graded copper, nickel, steel, or zinc coins? They are all virtually worthless if demand for that coin dries up. If nobody wants to buy your proof coins, they are only worth whatever metal they are made of.

Another point, you can get quite a few years of ASE's in MS-69 for under $40. And considering regular ASE's sell for about $33-36 right now, why wouldn't you want the ones that you are sure will be in the condition you expect IF you are looking to buy them as a collectible coin? ASE's are both an investment and a collectible. I buy regular ASE's as an investment, and am starting to buy graded ASE's because they are a series of coin I want to collect.

However, I will agree with the point someone makes about early release being a joke.

 

Just got a notice from MintProducts, which is now selling the ATB sets for $3k.

I have to wonder where these dealers are getting these sets. The only place should be ebay, but the ebay prices were so high I can't see where there would be any room for profit.

The only other option is that one or more APs are selling multiple sets to the non-public. Maybe the Mint should check the AP books!

 

This entire issue has been corrupted from the start . I find if I need a good laugh from time to time, I just look at what those idiot's are paying for these on EBAY .

 

I see the Home Shopping Network today has 211 complete sets for sale in MS69 by NGC. Just where did they get them in such quantity? While listening to their spiel, 12 sets were sold at $4799 each. What a sad day for collectors to have to give up their hobby to opportunistic investors. Eventually the investors will leave this market in shambles, once they have gotten every dollar that can be had. It certainly highlights the element of greed associated with our free market system. (And even more, the element of ignorance that exits in buyers).

 

The whole concept of EARLY RELEASE is absurd regardless of the coin involved. The term only exists because NGC was sued for fraudulently using the term "FIRST STRIKE". PCGS still uses the term FIRST STRIKE. I'm not sure how they get away with it, but enough people are willing to pay a premium for it that it persists. They're basically paying for a label with specific words printed on it. The coins are exactly the same as any others.

 

Now that they're selling for 3 - 5 thousand dollars a set, APMEX's original asking price, $1395, that caused such a stink doesn't look so bad.

 

But it still smell,s a little!

 

Most likely they are getting them from the primary dealers that only do wholesale.

 

The rule is that the primary dealers must sell to the public on these.

 

So are any authorized dealers selling these yet?

 

Are you sure? Many of the primary dealers who sell US Mint bullion have no facilities for handling retail sales.