So who's buying the new Enhanced Reverse Proof ASE?

Well I wanted one for my personal collection. I beleive there are people and possible companies that know how to game the mints system to guarantee thier orders. This does it for me and the mint. I'm canceling all my subscriptions and am contemplating selling off my collection of eagles now. Back to morgans for me.

 

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Yes, and everyone would be complaining that they spent $70 for something that is now worth only $50 in the aftermarket.

No, they are simply manufactured, people figure out how to game the system to increase the odds that they will be successful or get multiples.

No, their system is simply being overwhelmed, in effect it is a Denial of Service Attack, more requests for service than a system can handle and it crashes.

You would still be trying to get through or on hold.

As soon as people got the notice it was sold out they stopped trying and the queue evaporated rapidly.

They can't, that's why it crashed.

Think that would make the people who miss out in the lottery feel any better?

The mint has never been good at figuring out the proper number to offer to both keep interest high, and not make people mad due to a fast sell out. And if they make enough to be sure that everyone who want one can get it, people stay away in droves, the price falls on the aftermarket and the collectors complain about THAT.

You going to design an order taking system, what capacity do you design it to handle? Oversizing it means a lot of expensive equipment that will spend most of the time just sitting around idle. Most businesses would probably design to handle 3 to 4 times their average daily business. In the past 7 days the mint handled around 40,000 orders, call it 6,000 a day. So design it to handle 24,000 orders a day. (due to past problems they probably did it even higher) At noon today it got hit at a rate that would have equaled over 43,000,000 a day. So if you are designing the system that averages 6,000 orders a day, do you design, and equip it to handle 43 million? Over 7,200 times more than it typically needs to handle?

True, and there would be a lot of complaints about it being less than issue price in the aftermarket.

Well their system was BUSY, they got to it eventually.

No they are just producing, the mint gets no extra benefit from the flippers and dealers. They simply take steps to ensure they get the product they need. A lot of those flippers are just other collectors who use the same tactic tha the home shopping and big dealers use. They got all of their friends and relatives to go online at noon and order for them. They got no special treatment from the mint.

In that case every mid size dealer and larger, and the tv shopping people, gets special treatment and is assured of getting theirs before the collectors do.

 

Still a one ounce silver Bullion 'coin'.
and no, I did not miss it, I didn't see much good in it, But everyone to their own ends. Jim

 

Good answers, Condor, even when I don't like 'em....

 

Honest question, I was lucky enough to get one for my son. (He's 8 and a budding collector, I know nothing about coins.)
Is this something that we should send in to be graded, or just leave it as is?

Thanks in advance for any insight.

 

Sending it in to be graded will probably cost as much or more than the coin itself cost, and doesn't really accomplish anything if you aren't planning on selling it.

To be honest, if I were in your position, I'd probably be leaning toward selling it (unopened) on eBay for $600 or more, and putting that money toward several nice coins that line up with his specific interests. But I honestly don't know which he would prefer.

Welcome to CoinTalk!

 

So I heard they had 500 of these at the Baltimore show. Was that the US Mint people selling these or some special customer?

 

If you can get $600 for it...I wouldn't be surprised if you can buy it back...GRADED....in PF69 condition.... for under $200...within a year.

YMMV......

 

You could be right. But I’m going to let those flippers keep and fondle them.

 

US Mint, they held back 500 from todays sale to have them available at the Mint booth in Baltimore.

 

Small wonder not too many of us I Want Just One types were able to nab one.

 

Does the US Mint go to all or most of the major shows ? With product ?

 

Only major shows I get to are ANA and Central States. They are at ANA, they are not at Central States, they are at Baltimore. Someone else will have to answer about FUN, Long Beach and any other major shows. If they attend they do have product with them.

 

I just can’t believe how many have already sold on eBay for $500-700.

 

Unless you are a type or set or registry collector or whoever needs every coin for a particular year, you CAN pass on this.

I'm not going to pay $500 for something that was sold for $70. I'd rather buy a super-nice Morgan Dollar....a nice currency bill...or put it into a Saint.

 

But... but... the Mint sold Morgans and Saints for face value! THERE's your real ripoff.

 

We can all have the ASE at a most-reasonable markup. Just allow those coins to sit there untouched on eBay for a couple of years and see what happens.

 

Got one! Was a royal pain in the "A" with the mint site crashing every 5 seconds. You'd think the "government" would have a better site capability.

 

My prediction ? In 12 months they'll be selling for $300 or less. In a few years, maybe $150.

Premium will stick, but not to today's level.

JMHO..........

 

Just keep in mind that this design might be the last of it's kind. In 2021 will come an eagle with new security features; it could be a complete redesign thus making current eagles a bit more valuable. Just my 2 cents.