Will the Baseball Hall of Fame Gold coins sell out first day?

Could you imagine the frenzy if the Mint had decided to release the 25 Anniversary Set (ASE) at the Florida FUN Show? Mein Gott, there would have been bedlam..........

 

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And I would have been there too!

 

My Gold proof is scheduled to ship in mid June...10 weeks away. These coins will not be officially declared a sellout until the two week waiting period has elapsed after the last shipment. Up to three months to cancel for many (including me).
Regulated securities (stocks) are not allowed to be pumped and dumped, which apparently is what some dealers are doing with these coins. Hype the opening, bid up the prices on a few coins, and then dump your inventory and make a killing.
The proof gold Eagle coins are very popular, but the Mint only sold 10,000 in 2013 @$410. Do you really expect that the Mint will sell 5X the number of HOF coins w/o an established collector base like the eagles?
Sorry, but sounds like many are believing the hype, and not using logic.
Saying that these coins will be sold at baseball games sounds just like the hype surrounding the Silver Panda's a few years ago...
The folks selling Silver Panda's kept saying that a Billion Chinese would begin to buy the Panda coins and drive the prices higher. Then the Chinese gov't upped the mintage from a few hundred thousand to 8 million and turned the collectible Panda into a regular bullion coin with very little premium. The billion chinese never bought the coins.
The First Spouse Gold coins were suppose to be very popular, and sold 20,000 the first year, now the mint is lucky to sell 2,000.
The price of Gold and Silver are down because currently there isn't much interest in owning PM. This isn't a great time to sell 50k gold and 400K silver coins.
I still don't believe that there will be a sell out declared in ten weeks. We will see...

 

2011 proof Medal of Honor $5 mintage: 18,102

2011 uncirculated Medal of Honor $5 mintage: 8,251

2011 proof Army $5 mintage: 17,173

2011 uncirculated Army $5 mintage: 8,062

2008 proof Bald Eagle $5 mintage: 59,269

2008 uncirculated Bald Eagle $5 mintage: 15,009

I don't have the mintages for the more recent $5 gold commemoratives but as you can see Jack, there is some popularity in collecting the gold. Look at the mintage for the Bald Eagle proof coin. I expect the Baseball gold will sell out completely........

 

Green you may be right, but look at the spot price of gold to determine consumer sediment

 

I'm not sure consumer sentiment has anything to do with the collecting of the $5 pieces. If that were so we wouldn't be seeing an (alleged) sellout.

 

At this point its just going through the steps, but I promise you that the gold is sold out. It may be a few weeks as is suggested to declare it, but all the gold coins are sold and the waiting list to buy them exceeds the allotted numbers that would come available.

The answer is yes. You are comparing apples to oranges. The AGE collector base and the commemorative gold collector base are two different people. This coin will transcend all collector bases as we, as collectors, have not seen a coin like this EVER from the US Mint. It is as much a novelty as it is a limited minted coin. "Specialty" labels aside, the coin would have sold out regardless just because of the uniqueness and the connection to America's oldest past time sport.

The American Buffalo silver dollar is the fastest selling commemorative. At 500k mintage across all options, it sold out within days. Had there been a gold $5 coin to accompany this, that would have sold out even faster.

But I digress, because that is a different coin in a different era. With the release of the RPr Buff last year, we have seen a new trend started by the US Mint. And I guarantee that based on my conversations with these mint people, this is something they would like to see at every major show.

 

If all the gold is sold (and it probably is by now), there is no reason to wait weeks to announce it. We should get an announcement early this week.

 

My uncircs are showing an expected shipping date of 3/31, however, the check boxes are still there and the coin line still shows 'back ordered'. Yesterday the expected shipping date was 3/30. Wonder what it will read tomorrow..........

 

Ah yes, a much different era ...$5 Silver / $270 Gold. I was much younger in 2001 LOL.

We will just have to wait 3 months to see who was right.

Will the price of PM go up or go down? I hope the price of PM goes to Moon, and the price of the HOF also sells at a premium above the Mints asking price.

On a slightly different topic... The coins in graded holders on ebay don't appear to show off the curvature of the HOF coins very good. Do they?

I may leave my proof HOF coins in OMP because that appears to show the edges and curvature of the coins better than the graded versions.

What do you think? Graded or OMP?

 

@ Jack - Yes that was one major complaint from collectors who where getting their coins back from the TPGs the curvature was not very well highlighted and I don't know if I demonstrate it with pics. Everyone kept wishing that NGC used their edge view holders but they didn't. We were thinking that once they got all the kinks worked out that they would eventually. The silver dollar slabs were extra thick, but the gold and clad slabs were normal for NGC. PCGS decided to go extra thick on all their slabs. Needless to say, other than the gold and clad NGC coins, none of the others will fit in the NGC or PCGS slab boxes. I believe that the thickness of the slabs really shows off the depth of the curve. PCGS slabs are all clear so they show off the edge really well. NGC used their white insert and no edge can be seen. As said, I will try to get pics up tonight as I am slowly working through my honey-do list.

 

What is the point of a Walking Liberty gold coin? If you want a Walking Liberty then get a ASE. I want to see Gold Coins that honor coins that were actually old gold pieces. Some cool designs. I guess this is why I am not a fan of the American Gold Buff. It's beautiful but its still an old nickel.

 

Joe,
I just noticed your web site...Love it!

I also collect ASE and your presentation on your web site is wonderful. Do you use a light box to photograph your coins? What type of lighting? Well done.

I began collecting coins because of the 1984 LA Olympics. Your gold coins brought back memories of the wonderful wood presentation boxes that the Mint used for the coins in those Olympic sets.

Have you posted any photos of your HOF coins yet? I didn't see them on your web site.
Thanks

 

Thank you Jack! I do have a photo light box but haven't used it yet. I just use a simple point and click digital camera on a tripod with florescent lighting above. I try to make the best out of the most un-ideal lighting situation. Some pics turn out great and others are less desirable.

As for the the HOF coins, I haven't shot them yet. The wife is cooking up a storm in the kitchen and my location is occupied right now. Even then, I am in the process of redoing my Commem gold page and probably won't get them up until the redo is complete. I also need to redo my ASE page. That is why the dates stop at 2011.

Thanks again!

 

Mine is the same except no cancel boxes. TC

 

I'm glad to hear you are doing better.

 

Thank you so much..
BTW Congrats on your Graduation and success in Dental School and setting up your practice.

I look forward to seeing a collection that will put what I had to shame..

Best of Luck Richie

Kind regards,

RickieB

 

Rick, it really is great to see you.

Ya know? Us older timers love seein' ya.

 

And when he says old timers, he really means guys who have been on CT for a long time. Good to see you Rick!