5 oz. coasters on Coin Vault right now

[Hard Times]

For those of you interested, sets of the 5 oz. silver coasters are on Coin Vault (Channel 225 on DishTV) this evening. They are graded by NGC at MS69ER (ER?). Guess what the price is for the 5? 10% markup by vendor like the US Mint wants? Noooooo......... $3995. That is right $4K for the 5. At ~$750 melt ($30/oz.) that is 5.33 times mark up.

 

Thanks US Mint

[x2rider]

For those of you interested, sets of the 5 oz. silver coasters are on Coin Vault (Channel 225 on DishTV) this evening. They are graded by NGC at MS69ER (ER?). Guess what the price is for the 5? 10% markup by vendor like the US Mint wants? Noooooo......... $3995. That is right $4K for the 5. At ~$750 melt ($30/oz.) that is 5.33 times mark up.

 

Thanks US Mint

 

 

 

ER = early release

[Conder101]

That's less than HSN is selling them for, $4800.

 

Coin Vault is not one of the primary distributors that the Mint imposed the 10% markup on. Once the distributor sells them the open market takes over and the price jumps to what the market will bear. All the Mint did was to try and make sure that the primary distibutors didn't get a piece of the windfall. It was still going to occur.

[johnny9434]

ok, i see the coin vault shysters wanting top dollar for their stuff, then who else is selling these coins outside of the mint?

[coinman_23885]

I saw an NGC MS69 in-hand set go for $9800 on EBay late last week from the seller 'arizonaeagles'. There is a pre-seller (greenpaper) selling NGC MS69 sets for about $5600 on EBay, and a seller with in-hand ANACS MS69 sets going for about $6500 on EBay.

 

Augustus

 

That's insane. You could take the cheapest price there and buy a high grade AU bust half dollar from the early 19th century.

[jerryf]

Wow. I just saw an Anacs MS-69 set of these selling for $4700 on HSN. Can you believe this? who is going to pay 6 times melt for these comemmorative coins. I'll bet they will be much less valuable in 6 months. I will wait untill the US Mint sells proof sets of these coins direct to the public later this year. I wonder what the price will be?

[JIM F.]

They are hyping them up big on coin vault. I find it a bit goofy when they tell you what a great box you get with them.

[Conder101]

As far as I know they aren't going to sell proof sets, just "collectors" sets which will have a W on them. And you can guarantee they will be a lot higher from the mint than what the distributors pay for the bullion version. $1500 a set maybe?

 

As for the big hype on the TV shows, that is no big surprise. I've been predicting it would happen for months.

[bigred33-migration]

The collector versions from the mint are supposed to have a P mintmark. West Point doesn't have the press, only philly.

[Jim Beam]

They are hyping them up big on coin vault. I find it a bit goofy when they tell you what a great box you get with them.

 

The Coin Vault guys were also saying they had been told (by who?) there would be no "70 grades" given out for these coins so their 69s would be the top grade. Unbelievable???

[Conder101]

Thanks for the correction Bigred

[bigred33-migration]

Thanks for the correction Bigred

 

NP

 

Supposedly a burnished/blasted finish and the P mintmark. Have to wonder about the premium over spot though. If they go like ASE proofs then that could approach what, almost double spot..?

 

I was all over wanting to do this entire run as a mild bullion storage play with the supposed $3-4/oz premium. Forget it now, Aussie and Chinese premiums are way more attractive at this point. And I did pick up a nice Kook run instead that hopefully shows up this weekend .

[bsshog40]

I still can't believe that people are going to pay $800 a piece for $150 of bullion silver ea. These are not coins! These are nothing but bullion collectibles, well at least they are in my books. I can't see any value in these in the future!

[bigred33-migration]

Agreed.

 

I'll get some at the right price, these will fade after a year or 2.

[DC Dawg]

I still can't believe that people are going to pay $800 a piece for $150 of bullion silver ea. These are not coins! These are nothing but bullion collectibles, well at least they are in my books. I can't see any value in these in the future!

Gee, Bobby... tell us what you really think!!

 

Just remember, people bought those 9/11 "tribute coins" of colorized silver Eagles or the Obama coin of a colorized Washington Dollar, which is struck in base metals. Just goes to show that people will buy anything.

[bsshog40]

I still can't believe that people are going to pay $800 a piece for $150 of bullion silver ea. These are not coins! These are nothing but bullion collectibles, well at least they are in my books. I can't see any value in these in the future!

Gee, Bobby... tell us what you really think!!

 

Just remember, people bought those 9/11 "tribute coins" of colorized silver Eagles or the Obama coin of a colorized Washington Dollar, which is struck in base metals. Just goes to show that people will buy anything.

I tried scott.

[19Lyds]

I pity the weenies that fall for this $4,000 coin set which inevitably will sell for their true market value.

 

10% over bullion.

 

Once the US Mint starts selling the collector versions, the bottom will fall right out from under these coffee table coasters and lots of folks will be left holding the bag wondering what happened.

 

An over-hyped product? Absolutely.

A willing group of PT Barnum buyers? Say no more.

[Conder101]

No with a mintage of only 33,000 I can't see them falling to 10% over bullion. But I could see them setling into the $1500 - $2000 range for the 2010's. Now the 2011's I could see at 10% over bullion. But that is still $850 a set. If interest in the set wanes and some of the later mintages start approaching the level of the 2010's then their price might go lower, but because of this initial hype over the first year sets they will still bring a higher price even if some of the later years have a lower mintage.