Gold Mercury Dime 2016, Disappointment Courtesy of US Mint?

Discussion in 'Coin Chat' started by fretboard, Apr 26, 2016.

  1. Vess1

    Vess1 CT SP VIP Supporter

    There have been 678 merc auctions of varying numbers SOLD on ebay since this started. There are currently 538 auctions listed for them. Just posting here as a reference. We'll see which way it goes. Most all are listed for more than $300.
    If each auction was/is selling an average of 5 which is not likely, that's less than 5% of the mintage offered for sale on eBay. This is supposed to be the time that people are loading eBay with them to make their profit. I guess less than 5% is alot?

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    Last edited: Apr 28, 2016
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  3. SuperDave

    SuperDave Free the Cartwheels!

    Never bought a Beanie Baby, but I've taken substantial hits on Spongebob paraphernalia. :)
     
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  4. Treashunt

    Treashunt The Other Frank


    funny
     
  5. Cascade

    Cascade CAC Variety Nerd

    Remember in the early days of SB how it had more of an adult audience but after a few years it was firmly in the hands of the 5-8yo demographic. What a shift
     
  6. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Not really......most adults I know act like 5-8 year olds........

    That's the Long Island demographic. devil.gif I trust you've never attended a little league game (and observed the parents in the stands) in dees parts?
     
  7. World Colonial

    World Colonial Active Member

    You are being far too charitable with the estimate of 2% to 3% for foreign demand, unless it is to flip it later to a US buyer. I don't believe there is even one US coin in this price range (or higher) in the entire US series that is owned by 2500 to 3750 non-US collectors (unless it is by US expats), not where it was bought at this current value

    Take a look at foreign auctions and dealer websites. There are very few US coins offered because there is no local market for them. A $205 coin (this one) plus international shipping is not competitive versus the overwhelming percentage of coins a foreign collector has available in their local market since they have zero affinity for this gold mercury.
     
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  8. baseball21

    baseball21 Well-Known Member

    I completely agree. I would be surprised if you needed more than your fingers to count how many of these were shipped overseas direct from the mint if there even were any. I just used 2-3 percent to be safe with the ex-pats and overseas military though technically those bases are American soil. I believe that the US mint ranks close to the bottom if not dead last for international business by the major westernized mints of the world (eg Canada, Australia, France ect.).

    Overseas people didn't grow up collecting these series of coins. To them it is expensive bullion.
     
  9. joecoincollect

    joecoincollect Well-Known Member

    I think the lottery suggestion is good and should be tried in the future. I also think limiting the mercs to 1 purchase for each customer would help a little by making the flipping of them costlier for big buyers. If some of us favor the collector over dealers flipping them, then we should agree that a mintage limit is not needed. And of course this would ease transactions for collectors. The only problem is most collectors are investors as well to some degree and high mintages are less desirable. It's really a tough situation for the mint and consumers.
     
  10. baseball21

    baseball21 Well-Known Member

    I really hope we don't go down this path. This screams of the everyone needs a trophy syndrome. Everyone knew the release time, if they couldn't be bothered well that's a life choice of theirs.

    I won't make excuses for the mints awful website, but if people wanted one that bad they could have had it.
     
  11. stewart dandis

    stewart dandis Well-Known Member

    Prices are dropping.....down, down, down she goes.
     
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  12. World Colonial

    World Colonial Active Member

    You are right, it is expensive bullion to those outside the US.

    However, it isn't just this coin I was referring to but all US coins. They aren't collected elsewhere because of the price level and the more recent series which are more affordable have no local market and the designs are mediocre.
     
  13. Vess1

    Vess1 CT SP VIP Supporter

    100 more gold merc auctions sold in the last 22 hrs. Is there any other item that's comparable atm? Not saying that's good or bad. Just what it is.

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  14. This is what happens when the majority of people buying are sellers and not collectors.
     
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  15. Vess1

    Vess1 CT SP VIP Supporter

    Also when a poster makes broad statements that are meaningless but fit their narrative. Nothing has changed since day one. There were always a mix of low and high auctions.

    Nobody's getting rich but they're not going for anywhere close to issue price. Meaningless post.

    I'm honestly neutral. I don't care what these do. I don't have anymore for sale. But at least post something of substance to back up the claim. I already showed yesterday that less than 5% of the mintage was for sale on eBay. With over half of that total already sold. Where are the rest?

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    Last edited: Apr 29, 2016
  16. Vess1

    Vess1 CT SP VIP Supporter

    If the quarter sells out in 10 minutes the same people won't be convinced that it's a popular offering.

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  17. joecoincollect

    joecoincollect Well-Known Member

    The window to buy them was in minutes, not weeks, days, or even hours. If you want the US mint to keep catering to the business side rather than simple collectors (because dealers are evidently going hog wild and cramping this process) that's your opinion but not everyone's. The lottery suggestion (an unlikely process anyhow) and what other people unfairly call whining are trying to address the crazy process of buying Mint products and is understandable. I'm just glad I don't have the money for a gold coin right now, but I also don't want to face a Mint release like this in the future. Just my opinion.
     
  18. NAVY CHIEF

    NAVY CHIEF Active Member

    The keys to ordering new coins are: 1. have a computer 2...able to connect to the mint by the internet 3. Have an account with the mint 4. know the 3 digit code for your credit card 4. Know and UNDERSTAND THE COMPUTER TERM "refresh" 5. know when the coin goes on sell 6. window to order is the first couple of minutes when it goes on sell. I ordered and received 3 gold dimes
     
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  19. Vess1

    Vess1 CT SP VIP Supporter

    I assume to flip them all? Because according to everyone here that's the only people who bought them. I absorbed 3 as well.

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  20. chascat

    chascat Well-Known Member

    A lottery draw with a 1-coin limit. If any excess coins left over, the Dealers can bid on them.
     
  21. Blissskr

    Blissskr Well-Known Member

    They don't even need a lottery simply mint them to demand is all that's needed. The fractional Buffalo's of 2008 were minted to demand and the combined total of all the 1/10, 1/4 and 1/2 oz coins in burnished and proof have a lower mintage than this 1/10 mercury dime does. Anyone who wants to speculate would have to hold the coins at least until the sales period closed at the end of the year. And no one within the first year would have to buy from the aftermarket unless they desired to get a coin already slabbed and graded. As the fractional buffalo shows the final mintage's would likely be substantially lower and the coins long term resale value likely higher as well.
     
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