Thinking of a contest for NGC graded 25th Anniversary Silver Eagle Set at cost

While I enjoy the thought of this contest, I am reminded of the saying, "no good deed will go unpunished." I can't think of a way for you to clear your participants. No way to really know. Folks can say a whole lot when they don't have to look you in the eye; no way to check.

Perhaps just the IDEA is enough!

 

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I saw someone state they got 20 sets somehow..

 

I think that is a great gesture on your part. I'd be happy to enter the contest as I blew the ordering day & time. I got too busy at work and just forgot. My loss.

 

I'm sure for the most part the honor system will have to suffice. That said, getting one of these sets would have been very exciting and anyone who could keep their mouth shut about it, would have to be a scarce individual. After all, nobody knew beforehand that a contest would even be offered.

I'm sure there are alot of collectors who weren't able or quick enough to get the set and once they come across this contest idea will be excited. Who would have thought that the US Mint would sell out that fast??!!! I was one of the unlucky ones who didn't get a set and I look forward to the contest. Yea!! :thumb:

 

I think Krispy's post quantity criterion would be very useful in using the honor system.

 

Maybe like had to be a CT member before Oct 27th, 2011, or even before Oct. 1st, 2011.

 

No one knew there'd be a contest however you did post that you wished there were one prior to this thread.

http://www.cointalk.com/t194835-2/#post1301255

 

I didn't get any because I didn't order any, so I'm really not interested in playing. There is another problem that you may encounter (besides being able to determine the honesty of the players) and that is the winner might just turn right around and flip it for a fast profit. To me, that would kind of dampen the spirit of your idea. Unfortunately, there is no way that you could prevent this from happening. In my opinion, if anyone should be allowed to make a quick profit on it, it should be you. It's a kind gesture, but maybe you should think of some other prize to give away that won't attract too many sharks.

Chris

 

Tough call Chris. I did think that someone might turn around and sell it for a profit when I could of done it just as easily. Just have to find someone that I think is a true collector that didn't get one and I know will take some trust. Still mulling this contest over. Thanks for your advise.

 

LOL! A lot of those posts were for erratic contests that required excessive posting to win. I was also lucky enough to win a great looking Morgan in a previous contest Craig held on CT. Thanks Craig!

 

Very noble gesture, flyers10. While there is no way to ensure that the contest winner will not resell the set, you could consider the following procedure:

(1) Suppose you select the winner on Dec. 25, 2011. The winner sends $400 to you, plus another $[300] that you will hold in escrow. In early January, you mail the 3 common coins to the winner. You hold back the reverse proof and the S-bullion.
(2) In Dec 2012, you ask the winner to take a picture of the 3 coins placed on a piece of paper with a text that you will specify in Dec 2012.
(3) The winner sends you a picture of the 3 coins placed on a piece of paper with your specified text, proving that he/she still has the coins.
(4) You send the reverse proof to the winner. The winner sends you $10 to cover the shipping cost.
(5) In Dec 2013, you ask the winner to take a picture of the 4 coins placed on a piece of paper with a text that you will specify in Dec 2013.
(6) The winner sends you a picture of the 4 coins placed on a piece of paper with your specified text, proving that he/she still has the coins.
(7) You send the final coin (S-bullion) to the winner. The winner sends you $10 to cover the shipping cost.
(8) In Dec 2014, you ask the winner to take a picture of the 5 coins placed on a piece of paper with a text that you will specify in Dec 2014.
(9) The winner sends you a picture of the 5 coins placed on a piece of paper with your specified text, proving that he/she still has the coins. You will return to the winner the $300 that you held in escrow.

Steps 8 and 9 could be stretched out to 2015, 2016, 2017, etc. if you want to ensure that the winner is keeping the coins at least until 2015, 2016, 2017, etc., respectively.

 

Welcome to coin talk..Thanks for your response..That is just way too much work to be honest with you. I think I can find a true collector in all the entries..Just got to find out how.

 

With stipulations like that, you might just as well lock them all in a cage for "Last Man/Woman Standing".

Chris

 

Hi, Mike here, host of Coin Collector on HSN. I didn't get any, can I participate?:devil:

 

Those collectors who are willing to abide by this multi-year process are less likely, on average, to flip the set that flyers10 is so graciously offering. In fact, flyers10 may want to increase the escrow amount to discourage the potential flippers from participating.

 

I didnt get one but its not my kind of coin to collect.Seems strange these coins made within this year that hasnt ended is worth more than some coins made in the 1700s. To me the older a coin and its condition shoud be worth far more than a new one today when its mint purpose was to be a high dollar set that you could purchase while sitting at home with plastic money yet.However the one giveing this contest has shown he has a heart that most here will never have .Thanks anyway and good luck to you and the winner.I hope that person will be honest enough to buy it because they really wanted it and will add it with pride to their collection.

 

Thanks but they pay me what I paid for it..it is their set of coins after that. I just got to try to find a person who I won't think will flip them. Doesn't mean it won't happen but since they paid for the coins it is their business after that.

 

Thank you very much. I know it is hard to believe the value of these coins. The collector base for silver eagles is vast and I believe the reason for the price.

 

This sounds like an excellent idea flyers and it is a very kind gesture of you.
Now if somebody would just do a contest where I can win $400 I'll participate.

 

That is a good point.. would be a shame to see someone win it to simply turn around and flip it just to make a buck..

flyers10, if you have a contest I would be happy to enter it as it would be nice getting a set this way.. If it turns out to be more of a pain for you then at least the thought was indeed gracious..~~