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25th Silver Eagle Set

Started by bartlesvilleok,

62 posts in this topic

coinman1794

coinman1794

Posted
Posted
The problem was not normal supply and demand. There was artificial demand because people who were not collectors, had never bought a set in these series before the set of five and will never buy a set from the U.S. Mint again. It was artificial demand and practices that drove up,Housing prices and created the Housing crisis until the bubble burst.

 

Nothing on that scale will happen here because of the limited numbers and. Only a small chance for flipping.There wil be a small crash.

 

I took my first look on Ebay on them this evening. There area lot of sets that have been opened so three of the five coins will not get the designation. There are people who have broken up the sets and are selling the reverse proof and the "S" mint separately for $400.The three that remain in the case wil not get the special label and will be just like the generic 2011 eagles that are flooding the Market

 

The Dealers that are doing this have "No Returns accepted on their site". The people mthat buy the above coins will be out of luck.

 

The U.S. Mint has no obligation to the taxpayer.They advertise " first come first served". The problem I have with the U.S. Mint is that they claim that they hold the customer in the highest regard. They also send out brochures dedicated to the collector. Nonsense. A customer that only orders once every five or ten years is not a customer that has ordered steady for ten years.

 

If they cared then they would have followed the disclaimer on their site to extend or adjust the offering. They could have adjusted sets to one per order and given everybody a chance..

 

They don't care about the collector.

 

Normally I would care about the Dealers on EBAY and their taking advantage of some people. Not in the case of this Bigger Fool Frenzy.

 

 

The Mint did not make enough sets for everyone who wanted one, thus demand was so strong that the Mint's ordering systems slowed down. I do not see how the Mint doesn't care about collectors...they created a collectible! And Silver Eagles are already one of the most popular bullion coins in the world, and silver has never been so strong. Silver was something like $8 an oz. (guestimate) when the 2006 sets came out, and sold out, and the mintage is less than half as many for the 2011 sets. There is nothing artificial about the demand for these.The coins were worth more than the Mint was asking, even before they were released. That is why people offered premiums for them upfront. Adjusting the order quantity would mean that up to 100,000, out of millions of people, would get a chance to buy one, and they still would have sold out quickly.

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CHABSENTIA

CHABSENTIA

Posted
Posted

Two complete sets that were all 70s sold on Teletrade last week for $1550 each. I saw an auction a few days ago where 70 sets were at $1100 with a 18 hours left in the auction. This is at least a 70% drop from the $4600 that was listed on E bay in the first week.

 

I would not buy a set advertised on E bay even though the seller claims that they are unopened. How do you know for sure.?, A set that has been opened makes three of the coins no different then coins already issued.

 

I suspect that the demand is down for those reasons and others. This reminds me of the Housing bubble... Prices were bid up with the hopes that people would hit the Lottery etc and could flip them. .

 

My guess is that a complete set of 70s will go for $750-900 in a few months. This is just like these schemes such as Amway etc. The people who got in early did well. The people that paid the absurd prices in the beginning to flip them will be left holding the bag. The people that were able to get them directly from the U.S. Mint for $300 will double their money after paying grading fees and postage. assuming they paid cash. The ones that used Credit cards will end up getting less than double after paying Interest on their Credit cards if they charged the purchase,

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CHABSENTIA

CHABSENTIA

Posted
Posted
I really believe these will be going closer to $1000 a set myself. Look at the 2006 set. Sold for $100, still go for $300 today. I think this set will be more in demand. jmo

 

I purchased the 2006 set from the Mint. The Reverse Proof was graded PF70. It retailed at $750.00 I have seen them on E Bay for $450 in PF70. This is a 40% drop.

 

The first week that a complete 70 Set was offered on Ebay was $4600. Two complete sets in 70 sold on Teletrade last week for $1550 each. This is a 70% drop.

 

Since I paid $100 for the 2006 anniversary issue from the Mint and have one coin at $425 then this is still an excellent purchase, Silver has also more than doubled in price since 2006.

 

So if one was able to get a set for $300 from the U.S. Mint then they will most likely see two or three times the purchase price. If they purchased in the after market and haven;t flipped them yet then they are holding the bag.

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CHABSENTIA

CHABSENTIA

Posted
Posted
Seems like everyone is selling these for about $600 per set. With having 2 coins from a popular series with mintage's of only 100,000 one being a reverse proof it seems like in time these sets will be a lot higher then just $600.

 

While $600 seems high right now I would think that these people that are buying them to flip would be better off to hold them a while before selling them.

 

What does everyone else think? If $600 going to be the low end of what these are going for a year from now?

 

Anyone care to list there guess what they will be going for a year from the release date?

 

The trouble with that thinking is, if the sets start averaging, say, $750, a lot of people will hold out for $900. Then when $900 is reached, they start thinking $1100 is within reach. Greed overcomes fear. For me, $600/set is a nice double of my money, thank you very much.

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CHABSENTIA

CHABSENTIA

Posted
Posted
Seems like everyone is selling these for about $600 per set. With having 2 coins from a popular series with mintage's of only 100,000 one being a reverse proof it seems like in time these sets will be a lot higher then just $600.

 

While $600 seems high right now I would think that these people that are buying them to flip would be better off to hold them a while before selling them.

 

What does everyone else think? If $600 going to be the low end of what these are going for a year from now?

 

Anyone care to list there guess what they will be going for a year from the release date?

 

The trouble with that thinking is, if the sets start averaging, say, $750, a lot of people will hold out for $900. Then when $900 is reached, they start thinking $1100 is within reach. Greed overcomes fear. For me, $600/set is a nice double of my money, thank you very much.

 

Not true. It all depends on supply and demand. Look at the Housing Market. People that bought after 2005 saw a huge drop in price. People that bought these sets in the after market and haven't flipped them yet have huge losses.

 

The first week that a complete set in 70s was available on EBay the price was $4600. Two complete sets on Teletrade in 70 sold last week for $1550 each. This is a 70% drop.There are people who didn't understand the situation and bought multiple sets and had their friends and relatives buy for them. They opened the sets and three of the five coins are worth no more than the same eagles that have already been issued. These people will now be dumping these coins for whatever they can get. If they bought multiple sets and paid with a CC then they have Interest to pay.

 

I would have liked to complete my sets as I have since 1986 but I will not pay these prices for a "Modern": issue with an inflated price. A 70% drop in price tells me that others feel the same.

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CHABSENTIA

CHABSENTIA

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Well, I guess I am one of the "flippers" but I only ordered 2 sets, for two reasons: first to make sure if there were any problems I would at least have one good set (I'm cautious on sell out coins where if you only get one and there's a problem, then you are faced with a choice of sending back any maybe ending up with nothing, or settling for a less than perfect set), and second, if both sets are good, then I sell the duplicate and defray some of the cost of the set I will keep. Yeah, maybe it's not fair to those who only want one set, but I spend 2 billable hours ordering them, and at $175 per hour, I still lose money even at $600!

 

You shouldn't feel bad about that, Jeff. At least you played by the rules. What I object to is the people who find a way to order more than the 5 sets allowed and gouge all the others who tried to order but couldn't get any.

 

Chris

 

First of all, I don't know of any collectors who would buy more than two sets and most would only buy one. I had the money to but several sets and pay cash. I only bought the sets to complete each year and would have purchased only one set and accepted the grades.

 

 

My big problem is that people who have never collected the series bought as many as possible and had their friends and relatives in the same situation buy the maximum number of sets for them. There were also people that never collected and never purchased from the U.S. Mint and did the same.

 

I refuse to pay the prices even with the 70% drop from the first week such as a $4600 set in all 70s bringing $1550 on Teletrade last week. I hope that many get caught holding the bag as they will if they bought in the aftermarket and especially an opened set.

The

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CHABSENTIA

CHABSENTIA

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If I'm not mistaken, isn't it the Dept of Treasury and/or Congress that stipulates the actual mintage numbers??? I don't think the US mint has anything to do with this do they? We have what, 4 mint facilities that wound up producing this eagle set. The mints produce them, packages them, and then just sells them with the 5 per household limit. Not sure who sets the household limit. I don't think the mint can do anything about someone else's family member buying for another as long as a there is a different name and address. Yea it sucks, but I think it would be very discriminating for the US mint to try to start pointing fingers at buyers and trying to make accusations of fraud. It would be very hard to prove don't you think? As Mark stated, the only thing that would stop all this is not limiting the mintages. 2009 & 2010 was a supposed shortage of silver blanks for the Proof and Uncirc "W" eagles, so what happened? No Eagles (besides the bullion ones). This may have also been the reason for limiting this 25th set. Just 2 yrs ago we seen the same scenario with the Lincoln Chronicle set and there were only 50,000 of those. They weren't as popular as the eagles but there was a household limit and there was talk of buyers having family members buying and the same ole same ole as we're seeing here. I realize it's not fair but not everyone plays by the rules and never will. People have to realize the world they are in and just try to plan for it best as they can. I'm hoping I get my one and only set I ordered and saved up for. I planned for it and I set on the Ph redial button and the PC refresh button for 1hr 45mins until I was able to get my order in. I knew this was going to happen and I planned for it. I really don't think the mint is any better than any B&M that's in business. First come first serve, money talks. I hope I didn't offend anyone here!

 

The Market will take care of those that used CCs and didn't have the cash and those that bought in the aftermarket hoping for a big flip as sets have gone down as much as 70% and then there are those who opened the sets making 3 of the 5 coins no better than eagles already issued. Good Luck in holding the bag.

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coinman1794

coinman1794

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The sets are low right now because they are hitting the market all at once and most of them are graded MS70. The $4600 was never a realistic level and only existed in pre-sale markets, from what I saw. The sets were selling around $3000 when they first became available certified. They are dipping now because they are everywhere. They will level out to around $2000 eventually, as the 2006 sets sell for almost that much in PCGS 70.

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DrRich67

DrRich67

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I am a collector (about 50 years) and I was lucky enough to get 5 sets on opening day. All are now at NGC and I am keeping my fingers crossed for good grades. I plan to add one or two of the sets to my collection and probably sell the rest to pay for my costs. I am not a speculator, just a collector who managed to get in on a good deal. I buy regularly from the mint and my local coin store. I also managed to get 1 20th anniv set when they came out.

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Coincurious7

Coincurious7

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My guess is that by August of next year, the coins will be selling at $300-$400 in original government packaging.

 

I like these sets. As I have said in prior posts I was lucky enough to purchase 5 sets. The lowest prices I have seen on Ebay (as of 12/22/11) are roughly $650 for a NGC 69 set and $1050 for a NGC 70 set. I think these are the lowest prices we will see for these sets. The amount of listings are still extremely high but the amounts listed are slowly decreasing. I would guess that the values will begin to slightly climb in a few months.

 

I dont think you will ever see a set (in original government packaging) for $400.

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delta

delta

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My guess is that by August of next year, the coins will be selling at $300-$400 in original government packaging.

 

I can hardly imagine anyone ever willing to sell a set for less than 500 bucks, and probably even 600 bucks (except of course as a sweetheart deal to a close friend, a relative, or a sweetheart). It's a highly-sought limited-edition gorgeous set, part of an exceedingly popular series. And since you mentioned OGP, have you actually seen and handled the OGP for this set yourself? Might it be the most elegant OGP ever made for any US numismatic offering?

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KeeNoooo

KeeNoooo

Posted
Posted

I was fortunate to get a set from a fellow member for one he k of a price! Mix set of 69 and 70s from NGC . He was kind enough to send me the verified coins AND the OGP and I couldn't believe the size of the case! I was truly amazed! Thanks again Mt1missle... I owe you big time!

Nick

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CHABSENTIA

CHABSENTIA

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Posted
Could someone please advise as to the coins that are exclusive to the 25th anniversary sets.

 

I think they are 2011-S MS and 2011 reverse proof.

 

But not sure

 

Thank you

 

You are correct. If the set is open then the other three don't qualify for the special label. Also there has already been a Silver Eagle with the label "minted in San Francisco" that didn't have the Mint Mark.

 

A guess would be that since both were minted in San Francisco and the one having the Mint mark is in the the 25th Anniversary set was that it was a Marketing Ploy.

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brg5658

brg5658

Posted
Posted
My guess is that by August of next year, the coins will be selling at $300-$400 in original government packaging.

 

I can hardly imagine anyone ever willing to sell a set for less than 500 bucks, and probably even 600 bucks (except of course as a sweetheart deal to a close friend, a relative, or a sweetheart). It's a highly-sought limited-edition gorgeous set, part of an exceedingly popular series. And since you mentioned OGP, have you actually seen and handled the OGP for this set yourself? Might it be the most elegant OGP ever made for any US numismatic offering?

 

I would totally bet you could find the set for $400-$500 slabbed in MS69/PF69 by sometime in the next year or so. The 69 complete sets are going for around $750 now -- A complete NGC PF70/MS70 set sells now for $1100 on eBay. Down from absolutely ridiculous prices around $3500 (or more) when they were first released. The limiting pieces of course are the reverse proof and the "S" coins. The rest of the pieces will just go along for the ride at basically melt value.

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David Silverman

David Silverman

Posted
Posted

Thanks for the clarification.

 

The mintage of the 2006 sets were 250-K and someone here said they are selling for 2000 (MS70). Is it then easy to assume the the 25th sets will be worth more because of the 5 coin set and because of the 100-K mintage.

 

Where do you think the pricing will be for these 25th ann. sets in 5. years assuming MS70?

 

Thank you for your response.

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Chris1976

Chris1976

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Just my thoughts, but even with a mintage of 100k total, the over abundance or MS70 sets will be what keeps this set from reaching the prices it could have seen. Just about everyone that made a submission had about a 75% or more return rate of MS/PF70's. Just look at the other forum postings in regards to the grades submitters here had recieved. I do not have a membership at the "other" TPG so I can't tell you the kind of numbers that their submitters had seen, but based on the numbers I had seen from NGC, I honestly do not see this set holding a high value for long. The prices you are seeing now are the sellers attempting to get the highest they can for the sets with hopes of keeping the prices up, but it is a losing battle as the price continues to drop slowly.

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Crohnos01

Crohnos01

Posted
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I have a related question to this thread. (Sorry, I don't know the answer about the clear s) I have two sets of the 25th ASEs which I was able to get at a reasonable price from a friend since I missed out from the mint direct (what a mess). So both of my sets are in OGP, but opened, so they won't get the special label on those coins that were available outside of the 25th anniversary set. I am trying to decide if its worth sending in the S mint and rev. Proof for grading? I plan on holding these long term as part of my retirement plan in 15 or 20 years,....would it be worth the grading fee or not?

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delta

delta

Posted
Posted
I have a related question to this thread. (Sorry, I don't know the answer about the clear s) I have two sets of the 25th ASEs which I was able to get at a reasonable price from a friend since I missed out from the mint direct (what a mess). So both of my sets are in OGP, but opened, so they won't get the special label on those coins that were available outside of the 25th anniversary set. I am trying to decide if its worth sending in the S mint and rev. Proof for grading? I plan on holding these long term as part of my retirement plan in 15 or 20 years,....would it be worth the grading fee or not?

 

If it were me, I'd want to keep the 5 coins in a uniform set. Since 3 of them don't qualify for the 25th anniversary label from NGC or PCGS, I'd therefore either not grade them, and keep them in their capsules in the OGP, possibly the nicest OGP ever made by the US Mint, or, send all five of them in for grading together, asking that none of them be labeled 25th anniversary. Since you have two sets, why not keep one in OGP, and send one in for grading? But first get out your magnifying glass, and select the nicer of each individual coin for submission for grading. Best of luck with it!

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Crohnos01

Crohnos01

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Posted

Thanks Delta... That's kind of what I was thinking too. I hadn't thought about the asking that none of them be labeled 25th anniversary though... that might be better than having two of them labeled 25th anniversary and the other 3 with standard labeling.... Thanks,

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delta

delta

Posted
Posted
Delta,Thank you.I do not know how to start a new topic....Could you please assist me with this?Thank you again

 

At the top of any page, click on topic options, and then select new topic. In the title try to have your key words close to the beginning. However, before anything, you might wish to consider posting your question over in the section devoted to U.S. Coins, instead of here in the section for Numismatic General. I'm sure you'll get expert answers. Good luck with it.

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