About a year ago, I posted THIS about these coins. After the 2008 / 2007 Burnished ASE mix-up, I became puzzled why all the frenzy over these coins with a production of maybe 47,000. I see these coins reaching prices of upwards of $400 especially if graded. I wondered why if this is a collecting hobby why the lowly, 2006 gold uncirculated San Francisco Old Mint coins can still be had at under U.S. Mint prices and sometimes right at their gold content price. Yes, I do understand the ratio of collector to issue values, but wonder why most people are willing to pay $400 for a coin with a mintage of 47,000 and a bullion value of nearly $18.00 compared to a bullion coin with a mintage of probably 15,000 (guessing here since Silvertowne claims to have melted 3,000 of these coins, originally 16,149) with a bullion value alone of nearly $220.00. I usually buy about 12 of each of the ASE varieties when they become available from the mint and I didn't want to currently purchase them since the silver price had dropped. However, with the 2008 / 2007 situation I purchased 12 and got none of the variety. My sister purchased 6 more and gave them to me as an early birthday gift, still none. I seem to be more of an investor than a true collector saving for my retirement day or for the relatives to fight for if I don't make it. So recently, I've been buying up some of the best buys I can of the "OLD MINT UNCIRCULATED'S" and have been doing pretty good getting them at near bullion prices and even graded at that. Have only gotten a handful or so but, they sure are pretty coins. I think these are just "sleeping" right now. I just hope they don't wake up too soon!
I am going to give you a frank opinion here if you are going to invest in coins get one of the experts to work on your coin portfolio with you. buying bullion and hoping to strike it rich is a lottery and odds are not too great unless the metal itself goes up. As far as the old mint coins go I think they will be sleeping for a while I bought them too coz i liked them doubt i will make anything significant out of them. most modern commems unfortunately dont provide a good return on investment
spock1k, I agree with you, except that I don't mind paying bullion prices for the coins themselves. That's kind of why I didn't really want to purchase the 2008 Proof and Burnished ASE's from the mint as I belived them to be a little too high (althought probably nominal) compaired to the bullion prices. My latest purchase today was for 1 uncirculated MS69 @ $228.00. Bullion value at the time I bought was $222.36 for the coin. Drawback ICG! Mint pricing was $245.00 after the initial pricing. I just hope I make it to retirement! Heart bypass at 41 - 16 years ago! Still felling good! Don't want the relatives to have all the fun!
If you like the coin buy it for it's aesthetic attraction and not the possibility that it will increase in value. I wisht I had purchased one of the BU examples of the $5, I only got the $1. If I can find one at or near melt I will buy it. They are just attractive pieces with a fascinating retro design.
I think the gold commems in general are worth owning when you can obtain them close to melt. I like the designs and you get a combination of a bullion investment with potential numismatic value down the road after people realize most of them have been melted.
Are these "low mintage"? I'd say not at all. In the $5 commem series the low mintage coins are the Jackie, the Capital visitor's center, the salt lake olympics and a couple of the old olymic coins. Stick with the uncs on these the proofs are always over bought.
......and, buy'm cause you like'm. I bought one each(proof & unc.)because I liked the classic design reverse on both the silver dollar and 5 dollar gold.
