Free Money!

Way to keep digging!! :hail:

It'll be interesting to find out the correct 2010 Silver Proof set numbers. It could be that there were some returns built up that hadn't been reconciled.

 

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I agree, I think that's exactly what they're doing. Although the coins can be sold in a different year, they have to be produced in the year inscribed on the coin. In their September 13th 2010 press release, the reason given for the change of schedule was...

I think the real reason for the change is so they could implement the Just in Time inventory controls you suggest. It's much easier predicting one month of sales than eight. In this case, I think they probably made an initial run of 600,000 sets thinking they would sell that many FOR SURE. Now they have 50,000+ sets left over and don't know what to do.

 

Wishful thinking, that they could drop the price to equal Silver Melt !

 

That would get rid of them in a hurry...and be cheaper than destroying them.

...but wait, we're talking about the Government. :bangg:

 

And maybe they got a lot of returns that they still want to sell. Maybe the quality of a number of sets were bad for collectors. I know I returned sets due to issues with some of the coins. Perhaps they are holding out to sell those still. And it could be also to set a precedent so they can continue selling coins for over a year. That way if they make a run and it sells out w/in the year, great, but if it doesn't they don't immediately have to scrap the extras.

 

2010 = 583,912
2011 = 547,314 with avg weekly sales of 1542

difference 36600 / 1542 = 24 weeks to exceed 2010 mintage

Until July/August the 2011 appears to be the unofficial KEY

* Unofficial opinion - Yakpoo must verify with his Yakfact!

 

LMAO!! :too-funny: ...consider it verified!

 

:dead-horse:

 

:dead-horse: This may well continue. Between the 2010, 2011 and 2012 I believe the final KEY won't be determined until the end of the 2012 run.
I'm betting on the 2012.

 

If the Mint keeps overlapping multi-year sales of these sets, sales will continue to be diluted. The original point of the thread was to point out that as silver approaches $47/Oz, you get silver at "melt"...but in the form of KEY DATE coins!! The corollary is also true...if you can find these sets on eBay for $50 (when silver is $34/Oz)...you're buying the silver at "melt" in the form of KEY DATE coins...Kennedy Halves, anyway.

If the Mint continues to sell the 2011 sets "though the end of 2012", then the 2012 sets could be the new Key Date!! If the price so silver goes to $140/Oz by the end of 2012 (as some have predicted...not me), sales of the 2012 Silver Proof sets would plummet as the price of the sets rise. Since the US Mint keeps all their activities SECRET, it's interesting to watch their actions as events unfold in an effort to understand what they're really up to. :kewl:

 

This argument from efficiency and rationality seemed pretty convincing, until I remembered that we were talking about the US Government.

 

Welcome back Boys & Girls...The "Free Money" thread rolls on!!

When we last left things, the 2011 Silver Proof sets were peddling towards a sell-out and another Key Date Kennedy Half!!



Silver Proof set sales as of 31 January, 2012...

2010 Silver Proof Set sales: 0 for a total of 585,414*
2011 Silver Proof Set sales: 947 for a total of 548,261
* Sold Out

The lowest mintage of any modern Silver Proof set is 2010 (585,414). The average weekly sales figures for 2011 sets needed by the end of February 2011 (4 weeks left? *) to equal that mintage are...

2011 Silver Proof Set: (585,414 – 548,261) / 4 = 9,288

* Who knows?...this is just a guess based on the vague information we get from the US Mint web site...it could be longer.

Note: The Mint has already lowered the prices of many silver products since the first of the year...but not the 2011/2012 Silver Proof sets. This could mean the 2011 Silver Proof sets may stay on sale longer than we expect. Coin World magazine has already predicted that the 2011 Silver Proof sets will remain on sale until the end of 2012!!!


So...with silver prices so low, why are we still calling these sets...FREE MONEY!!! :hail:

Now that the 2010 sets are sold out, you can't find a PF70UCAM Kennedy half selling on eBay for less than $40. If the 2011 sets sell out less than the 2010 sets, you can expect the finest Kennedy halves to sell for at least that amount. So...if you subtract $40 from $67.95, you're left with $27.95. If you take the Kennedy Half out of the set, you're still left with 0.977 Oz of pure silver PLUS $5.06 of non-silver coins.

This means...if you can find a 2010 Silver Proof set on eBay for, say...$70, once you deduct the price of the Kennedy half, you're actually getting nearly one (1) full ounce of pure silver for $24.94 ($70 - $40 - $5.06)...and that, my friends, is FREE MONEY!!! :hail:





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Presuming you can slab a PF70UCAM Ken from a given set and also sell it for $40 dollars. That is only the time when one can "actually" get anything.

I know I'm harshing your hype about "Free Money", but you really need to temper your tone with more caveats. There aren't enough "ifs" in your statements.

 

Perhaps, but with both Silver and 2010 Kennedy Half prices on the rise...it's a pretty safe bet (imho).

 

YakTracks

 

It's Tuesday. It's Tuesday. Sales report should be here any minute. Any minute.

 

We're Baaaack!!

There was a of an in this week's 2011 sales , but it's way the 2010 !! Once the 2012 sets go on sale, sales of the 2011 sets will .


Silver Proof set sales as of 07 February, 2012...

2010 Silver Proof Set sales: 0 for a total of 585,414*
2011 Silver Proof Set sales: 1,180 for a total of 549,441
* Sold Out

The lowest mintage of any modern Silver Proof set is 2010 (585,414). Since we have no idea when the 2011 sales will end (or when 2012 sales will begin) the best we can do is estimate how long it will take for 2011 sales to match 2010 sales. Given this week's sales of 1,180 sets, it will take over thirty (30) weeks to catch up...and that's ...we'll be ready to begin playing football again!

2011 Silver Proof Set: (585,414 – 549,441) / 1,180 = 30.49

​

 

So that means that the 2011 sets are 35,973 behind the 2010 sets in sales. That's some kind of ground to cover to catch up. We can be certain that the mint is not going to wait for a complete sell out of the 2011's before they make the 2012's available. That's for sure. The sales for the last two weeks have averaged 1,063 per week. And as time goes on, interest in the 2011 just may drop even further. I still believe that the 2011 mintage will be at or very near the mintage of the 2010. For years the mintages have been pretty healthy for the Silver Proof sets since 1995. So in 2010, the mintage drops to a mere 585,000 total. Can we expect, for some reason, that the 2011 mintage will jump back up to the 1996-2009 levels? I don't think so. Why would the Mint drastically diminish the mintage numbers for just one year as in the 2010? They wouldn't I don't believe. I have not seen anything about March 2012 releases, so when they do release the 2012 set, sometime, the numbers watch will be quite interesting as Yakpoo has stated.

 

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[TD="colspan: 2"]--------------------------Next Release Below--------------------------[/TD]

Availability Date	Product Description
01/10/2012	2012 United States Mint America the Beautiful Quarters Silver Proof Set[SUP]™[/SUP]
01/12/2012	2011 America the Beautiful Five Ounce Silver Uncirculated Coins[SUP]™[/SUP] – Vicksburg National Military Park
01/17/2012	2012 United States Mint America the Beautiful Quarters Proof Set[SUP]™[/SUP]
02/03/2012	America the Beautiful Quarters Bags and Two-Roll Set – El Yunque (PR)
02/07/2012	2012 America the Beautiful Quarters Three-Coin Set[SUP]™[/SUP] – El Yunque
02/09/2012	2011 America the Beautiful Five Ounce Silver Uncirculated Coins[SUP]™[/SUP] – Chickasaw National Recreation Area
02/16/2012	Infantry Soldier Silver Dollar
TBD	Presidential $1 Coin Rolls - Chester Arthur
TBD	2012 United States Mint Presidential $1 Coin Proof Set
TBD	2012 Presidential $1 Coin Uncirculated Set

Well...this seems unusual. Product releases are only projected ahead one (1) week and there's still no mention of the 2012 Silver Proof sets that are two (2) weeks overdue. I really wish someone at the Mint could change the 2012 Silver Proof set status from "What's going on?" to "Let's Get it On!!"

[video=youtube_share;3j3okb3kuts]http://youtu.be/3j3okb3kuts[/video]