Enhanced Reverse Proof ASE - Ebay BIN cancelled

My next statement is for this US Mint product only. This particular release carries NO risk for flippers. A certain TPG, a sticker company that shall not be named and a collusion of dealers has ensured that this product will be worth multiples of its offering price (at least in the short term). These folks are setting the price, creating an exaggerated sense of scarcity, and using the US Mint as its puppet. I think it was Alan Greenspan who said something to the effect of Irrational Exuberance and that may apply here.The coin is worth $70, it is a new offering, it has 17 dollars worth of silver and is shiny. I don't even really like the look of reverse proofs. I prefer a DCAM "normal" proof any day. IMO.

 

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Well, my friends are happier off this deal than your friends who made nothing, so..

 

Happiness is not defined by making money being pimped. Research shows that in the Pimp / Whore relationship that overall the Pimp is most happy while the Whores feel they're being used and taken advantage of.

 

Can we stop pretending that hiring normal, willing people to help you (and them) make money is equivalent to a prostitute/pimp relationship? No one got slapped around. No one forced anyone into any act. No one did anything illegal. No one used intimidation or the threat of physical violence.

I've said it before and I'll say it again: "analogies never work on CoinTalk." And for the record, I'm not taking sides. Not sure how I feel about it, and I don't really care, honestly. No amount of public shaming attempts by either side, and no amount of indignant remarks will change the other's opinion.

 

wow, and the thread didn't get locked after the first few pages.

"flippers" .. what are flippers?
(a) people that buy US MINT coins then sell them at high prices,
(b) people that CRH looking for those million dollars coins looking to flip them at high prices.
(c) people that buy coins and accidentally see a price spike and thus flip them ?
(d) anyone that buys a coin, then expects to sell it for more at some time in the future.
(d) all of the above

A lot of gray area there. and everyone's definition will fit their own purposes.

Yes, there are businesses out there buying coins, breaking the "one household rule" .. but they're a "business not a household, right? .. and then reselling them.

That reminds me of the Congrats ASE sets. Each year I would buy a handful on the thought I would give them away. I never did. Then came the fall of 2017 when the 2017 price spiked. Crazily spiked to $2k each, and the other years spiked up too. It was crazy. I sold , I flipped them because it was Insanity Demand. I recall I sold each of them for $2k. I see on eBay I can buy them back, slabbed for $60-$160.

And Last Year I subscribed to the Apollo prints, max 3 prints. I saw the first print sell on eBay for a crazy amount like $70 each (paid $20 each). So I sold them. Then I got the 2nd set and sold those. I have the 3rd set still unopened on my desk, but I was planning on selling those too.

At the price of gold/silver I've taken buying bullion coins off my list for now. As I've been selling silver when it peaked above $16 then again above $18.

I had a Universal Coin call me the other week offering me the 1986-2019 MS69 uncirc set for a mere $2,100 ( that's $66+ each ?). They were trying to tell me it was a superb deal .. umm .. no. I don't buy slabbed (nonProof) modern bullion. And I told him I was selling, not buying at the high prices. I guess I was right as now silver/gold has gone down, so I flipped my PMs.

But, flipping any coin exists for Coin Collectors (aka Insanity Demand ) as we've all stated in other threads coins is not an investment (at most levels).

But I've overpaid on stuff too because I want it "now" not "later" After people over pay a few times, then a few years pass (or days) and the "luster" (pun intended) of the coin fades they start second guessing themselves. Just like the people that check their pocket change, are told it's damage but still send it off to PCGS and claimed they were wrong and ripped off. It's all a learning experience, and evolution of knowledge to be a careful "coin connoisseur", which ironically has the word "con" in it.

 

Ha ha The coin vault is offering an early release labeled NGC Proof 69 ASE reverse enhanced proof for $999.98. OMG you are a complete fool to buy that coin at that price, IMO. proof 69 really? What an absolute load of horse manure. Collectibility, really. Overhyped piece of silver IMO.

 

My hot take on the Enhanced Proof issue is that it will never reach the likes of the 1995 W. Why? Because the 1995 W was a standalone issue. No other 1995 W silver eagles were made. There were other 2019 S silver eagles issued. This one differed only in surface finish. That is not enough difference to hold the premium in the long run. Prices will fall. How far? Nobody knows.

These represent over $300000 in total sales over the initial purchase price. @jwitten isn’t the problem. These huge dealers hoarding the majority of the coins, hyping them up, and extorting collectors are the problem. If they didn’t do this, smaller guys like @jwitten would not find the motivation to do the same.

 

PCGS should be proud of their special holders CoA editor. Can't even get one grammaticaly correct paragraph or spelling perfect label done right.

"....minted and issues??? in accordance..."

"....legas tender....". What's legas?

Ridiculous label even if done perfect.

 

You paid a premium for the coins. How is this different than purchasing and selling any other coin?

 

I’m in this as a collector, but for $900, how can you not sell??

 

A few people have got stiffed on this one. Glad I don't buy modern mint stuff.

 

Because they'll be at $1,200 within days

 

https://www.ebay.com/itm/174102194043

i think the price of an unopened box will be on $1k. Encapsulated .69 and .70 much higher

 

Trend would suggest sealed at $1,499.99. Don't forget the supply will only drop. The US Mint has now shipped most orders including those ordered Friday.

 

The coin Vault was selling 69s for 1000.00 and 70 for 2500.00

 

Last night they were showing one in the OGP with the COA $1399.99. Free shipping. Not even graded 20000% mark up (assuming $70 cost)

 

That's not that much more than some of the coins have fetched on eBay today surprisingly. I wonder if those orders will be honored, or if the company will hold out for double because of "supplier" problems or some lame excuse. Usually the TV shows will price gouge.