WOW! The Mint screwed up Big League...

And as said before, if you want to treat them all as melt value go right ahead. That said good luck getting anyone to sell you a proof ASE for melt, or a classic proof ect. No one is forcing you to participate in the markets, but you deeming something bullion or not a real coin is not going to have any impact on the market or make it go away. Those markets do exist and will continue to exist, repeating over and over that you think they aren't real coins is just silly.

 

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Again though against who? Seems like all the TPGs or dealers would have to say is they were basing it off of information provided by the mint from a formal request that is legally supposed to be responded too with factual information. Not even sure if you could do a class action against the Mint and even if you could I seriously doubt it would be worth the effort or anyone would want to take that on over such a small amount in the grand scheme of things.

 

Suing the federal government is next to impossible. Just ask all the residents of my region who lost everything when the Corps of Engineers' vaunted levee system folded up like a cheap suit during Hurricane Katrina.

 

They are collectibles. They have a market and a value, but one which I do not wish to participate in. I collect bullion as an investment. I collect coins for their historical value as a means of commerce.

 

I also don't see any chance of a successful lawsuit.
All I see will be a lot of people that are mad at others for buying into the rarity of a coin that is indistinguishable from it's other 2015 peers. The ebay buyer / collector will be mad at the dealer who sold them the graded coin, the dealer in turn will be mad at Coin World or the Mint for releasing potentially inaccurate info, and the US Mint will be mad at the people who requested the info only to use it for monetary gain.

 

So clear this up for me. Is the damage based on the fact that the initial price was different based on the information or is it just that dealers got burned because speculation based on the numbers did not play out as expected?

 

The damage is that these coins were graded as Philadelphia Mint examples based on the box they were in. Now the Mint says some of those boxes may have not contained Philadelphia minted Eagles, but the more common ones from another mint. People were paying $500+ for an NGC or PCGS label that may not even be accurate.

 

They haven't specially said that yet. Just that some of their information in the request response was erroneous but not which information. We are all assuming that they will say some of them weren't, but until they say that we're all just guessing and jumping the gun a bit.

 

The Mint. Not saying it will be fruitful for the plaintiffs but that doesn't mean some pissed off dealers and collectors may not try

 

Who set those prices? Were the prices from the mint higher based on the location?

 

If it's even possible, but I doubt any lawyer would take it or any of the purchasers would bother. They make too much money off each other and the big boys who initially got them wouldn't have had to pay up for them anyway.

Aftermarket price based off an unexpected find in the request that Philly had made a small amount by ASE standards based off of the mints response to the FOIA request

 

Call Cellino and Barnes........laughable.......the only people that make out on something like this are the bloody lawyers.........tuck your tail between your legs and move on......

 

That is what I was driving at. I would think that the most that anyone that thinks "lawsuit" should expect is maybe the price they paid up front. Not the potential profit that didn't work out as expected because the figures were wrong.

 

Larry H. Parker!

 

If they do in fact say some weren't that their initial release said were it will be a debacle for sure. Who knows what they will actually say was wrong, only time will tell. I would guess the TPGs have the ability to trace the cert numbers back to which numbered box it was and could kill the certs for those coins if that happened. I would assume they have effectively slowed or killed some of that market until their next statement comes out in a month or so which to me seemed like their goal. I find it interesting that they made that release without giving any specifics.

 

Flippers suing the Mint. Now that's funny!

 

Dewy, Cheatum and Howe

 

Franklin and Bash

 

Better Call Saul