2011 25th American Silver Eagle Set This Guyu Ordered 20 SetsYour Opinion

[Ed J]

I found this post off of Mint News Blog... Hey he beat the system good for him. Your opinion on his post.

 

FallingGator says:

November 15, 2011 at 1:25 am

There are some serious jerks, edited language so not to be censored, on this forum. Who cares if people ordered more than 5 sets. Everyone had an equal opportunity to order. The strong, intelligent, and well prepared thrive in this country. GET OVER IT!!! I ordered 20 sets, and I finished by 12:45pm…Anyone got a problem with that? Too Bad! Yes, I plan to make a fortune off of this deal. You should have as well. I also ordered 20 more sets on presale. Can anyone say perfect 70′s? My average price per set was around $400. Also, I agree that the current price is actually too low for including 2 coins that are limited to 100,000 as well as 3 other coins that will only have 100,000 labeled anniversary editions. I’m going to sell some to get my investment back more or less, but I think I will hold on to a large number of them. Also, for the record the mint does not trace IP addresses. They go by credit card numbers, billing address, shipping address, phone number, and name. If you have unique versions of these then you are fine. Hooray for prepaid Debit Cards, UPS stores, and family. All 20 shipped to me, and off to PCGS. I’m getting them all labeled 25th anniversary first strike. It is worth the $18 even though first strike is a sham, particularly for these since they are all “First Strike.” It’s worth it to have PCGS since they sell for a premium over NGC. One last thing, the updated announcement is that the bullion coin will be labeled without a mint mark since most are S, but some are W.

 

 

[cpm9ball]

You wouldn't like my opinion.

 

Chris

[bsshog40]

NGC would censor what I have to say about him.

[noow]

You wouldn't like my opinion.

 

Chris

I was about to bash my computer screen in when I was reading this.

[comicdonna]

My opinion is greed. I think the mint should focus on security to help prevent people from taking advantage of their system. For instance, if they did an address check, this would have prevented him from buying 20 of them.

[Old Pueblo]

Here's what I think

[noow]

If this board wasn't moderated, I would have filled the whole page with profanities by now

[MercP]

That is just wrong.

 

[Brian D]

Instant Karma,s going to get you, going to knock you in your place

[Conder101]

He looked at the system, made his plans and worked it and its loopholes just like many many others did. More power to him.

[HarryRod]

As a fairly new person in this hobby (less than a year), this kind of guy makes me want to donate all my coins to the poor and go back to comic books full time.

Seriously.....i just dont get the mindset of people like this.

I am all for entrepreneurship and making a buck, but geez....

 

 

[Dcoin]

I bought the max of 4 OJ's at a sale price, then got back in line and bought another 4. To add to my greed I went back a third time and bought another 4 cartons.

 

Maybe somebody should start a thread about me

[lehigh96]

Can someone explain to me why modern bullion with a mintage of 100,000 is considered rare? It seems to me that everyone who wants these sets simply wants to flip them to make money. The only demand I see is from registry collectors. Between PCGS and NGC there are only 3,000 of these collectors. Given the quality and consistency produced by the mint these days, I fully expect that more than 3% of these will achieve MS70. Therefore, I see no reason why there won't be enough 70's to satisfy all of the demand.

 

When the dust settles, I don't think these coins will be worth much more than any other bullion issue. These are not the 1995-W Proof. That issue had a mintage of just over 30K and there are 2665 PF69's and 247 PF70's just from NGC alone. FWIW, I don't understand the hype/price related to that coin either.

 

My answer to the question posed by the OP, WHO CARES!

 

 

[coinman1794]

A mintage of 100,000 would be considered scarce, at the very least, in any classic series.

[lehigh96]

A mintage of 100,000 would be considered scarce, at the very least, in any classic series.

 

Only because the number of extant coins would be a small fraction of the original mintage for a classic coin. In this scenario, a very large % of the original mintage are going to grade 69 or 70.

 

For example, the 1915 Barber Half Dollar had a mintage of 138K but there are only 103 extant mint state examples.

 

How many MS/PF70 examples do you think are going to be available when all of the grading has finished? My guess is 5-10K and I don't consider that rare, scarce, or even uncommon.

 

Having said that, I do think the MS/PF70's will be worth more than the mint issue price which is why everyone wanted a set.

[bartlesvilleok]

I wish someone from PCGS would read this and stick there sets in quality control for 6 months.

[jtryka]

Well, as for scarcity, if you look at average proof mintages of say 600,000 to 800,000 per year, that should give you an idea of how many silver eagle collectors there are. It's not millions, but it's probably at least a half million. If 50% to 75% of them wanted one, you'd have a sellout and price rise at 250,000 mintage like we did in 2006, At 100,000 it gets crazy town.

 

As for a person like this, whether you agree or not, he broke the rules. The limit was 5 per household, and he is one person with 20, and I can only assume that he lives in one household (by definition one person can only live in one household at a time), so he exceeded the limit. Will he get away with it? Probably, but neither I nor anyone else has to support it.

[Jeffrey Cardona]

It does suck but he knows how to play the system and he plays it well!!

[Keigwin]

The wealthy have always made their fortunes from the backs of the poor. I think it's repugnant, but that's the way the system works.

 

I bought the household limit and flipped them immediately for a 100% profit. I'm sure I could have done even better.

 

Is what I did reprehensible? Isn't a 100% profit egregious? Where do you draw the line? I'm okay 'cause I followed the rules?

 

I took advantage of the situation, profited from it, and I haven't the faintest interest in SAE's. That feels as wrong as what this cheater did.

Lance.

[AnkurJ]

I met a dealer at Baltimore today who ordered 100 sets with his entire staff. 23 employees, 20 of them ordered 5 sets.

[coinman1794]

A mintage of 100,000 would be considered scarce, at the very least, in any classic series.

 

Only because the number of extant coins would be a small fraction of the original mintage for a classic coin. In this scenario, a very large % of the original mintage are going to grade 69 or 70.

 

For example, the 1915 Barber Half Dollar had a mintage of 138K but there are only 103 extant mint state examples.

 

How many MS/PF70 examples do you think are going to be available when all of the grading has finished? My guess is 5-10K and I don't consider that rare, scarce, or even uncommon.

 

Having said that, I do think the MS/PF70's will be worth more than the mint issue price which is why everyone wanted a set.

 

Actually, scarcity tends to be directly proportionate with demand; the number of people looking for the coin increases the perceived scarcity. 1955 DDO Cents are not rare, but almost everyone wants one, for instance. With about a million people trying to get a set, 100,000 is very scarce. And, when you factor in how many people opened them and eliminated the possibility of pedigree to the set, you have something very special, indeed.

 

The 2006 sets are still selling for $1295 and $1795 (NGC vz PCGS) in perfect 70, at APMEX. They had a mintage of 250,000 and silver was about $8 an ounce back then, and they sold out right away. The demand for the 2011 sets, with a mintage of 100,000 and silver at $35 is simply incredible, and I believe the number of people in the Silver Eagle market in 2011 far exceeds the number in 2006. Silver investors have been hitting Eagles up hard this year.

 

The raw 2011 sets were worth more than the Mint was charging, before they went on sale; I'm sure the 70 sets will continue to outperform the Mint's price

[lehigh96]

 

Actually, scarcity tends to be directly proportionate with demand; the number of people looking for the coin increases the perceived scarcity. 1955 DDO Cents are not rare, but almost everyone wants one, for instance. With about a million people trying to get a set, 100,000 is very scarce. And, when you factor in how many people opened them and eliminated the possibility of pedigree to the set, you have something very special, indeed.

 

The 2006 sets are still selling for $1295 and $1795 (NGC vz PCGS) in perfect 70, at APMEX. They had a mintage of 250,000 and silver was about $8 an ounce back then, and they sold out right away. The demand for the 2011 sets, with a mintage of 100,000 and silver at $35 is simply incredible, and I believe the number of people in the Silver Eagle market in 2011 far exceeds the number in 2006. Silver investors have been hitting Eagles up hard this year.

 

The raw 2011 sets were worth more than the Mint was charging, before they went on sale; I'm sure the 70 sets will continue to outperform the Mint's price

 

Where are you getting the number of people who wants one of these sets. Are you really claiming there are 1 million collectors of certified ASE's?

 

I just looked up the NGC population of the 2006 Reverse Proof in PF69 (38326/9150) out of 47934 submitted. That means that 80% of all coins submitted end up in a 69 holder and 19% end up in a 70 holder. If only half of the coins are submitted this time around, that leaves us with about 10K with a 70 grade and 40K in 69. The prices of the 2006 are about $150 (per coin) in 69 in $500 (per coin) in 70. Those prices sound reasonable to me. They are similar to the prices and populations that you would find on some common date Morgan Dollars in MS65 & MS66.

 

I don't collect ASE's and never will. My estimate of the demand for MS/PF70 coins is based on the number of registry sets in existence. Based on what I see in the population reports, if you want a scarce MS/PF70 ASE, you need to look at coins before 2002.

 

I would be interested to know what the highest price that the 2006 set achieved in the year after it's release in relation to it's current price.

[MercP]

You are assuming that the only people who collect ASE are participating in the registry sets here and ATS. I think that is an incorrect assumption. I am positive there are many people who collect ASE's who could can less about the registry sets. I own a 2006 set, but I do not have them in the registry.

 

Just my thoughts, I could be wrong.

 

MercP

 

[Old Pueblo]

Of 11 friends in my neighborhood that collect ASE, I am the only one with a registry set.

 

I was wondering if all the excitment with the 2011 Anniversary set has had a price effect on the 2006 set , or the 1995W?

 

I have resisted acquiring the 1995W (PF69) but if I make a little profit on the 2011 set, I might go ahead a complete my ASE set. The 1995W is the only coin missing.

 

 

OP

[bsshog40]

I agree with the last 2 comments here. There are ASE collectors out there that do not mess with registry sets. I would say that it would be impossible to actually determine the amount of SAE collectors just going by graded coins and registry sets.

[coinman1794]

 

Actually, scarcity tends to be directly proportionate with demand; the number of people looking for the coin increases the perceived scarcity. 1955 DDO Cents are not rare, but almost everyone wants one, for instance. With about a million people trying to get a set, 100,000 is very scarce. And, when you factor in how many people opened them and eliminated the possibility of pedigree to the set, you have something very special, indeed.

 

The 2006 sets are still selling for $1295 and $1795 (NGC vz PCGS) in perfect 70, at APMEX. They had a mintage of 250,000 and silver was about $8 an ounce back then, and they sold out right away. The demand for the 2011 sets, with a mintage of 100,000 and silver at $35 is simply incredible, and I believe the number of people in the Silver Eagle market in 2011 far exceeds the number in 2006. Silver investors have been hitting Eagles up hard this year.

 

The raw 2011 sets were worth more than the Mint was charging, before they went on sale; I'm sure the 70 sets will continue to outperform the Mint's price

 

Where are you getting the number of people who wants one of these sets. Are you really claiming there are 1 million collectors of certified ASE's?

 

I just looked up the NGC population of the 2006 Reverse Proof in PF69 (38326/9150) out of 47934 submitted. That means that 80% of all coins submitted end up in a 69 holder and 19% end up in a 70 holder. If only half of the coins are submitted this time around, that leaves us with about 10K with a 70 grade and 40K in 69. The prices of the 2006 are about $150 (per coin) in 69 in $500 (per coin) in 70. Those prices sound reasonable to me. They are similar to the prices and populations that you would find on some common date Morgan Dollars in MS65 & MS66.

 

I don't collect ASE's and never will. My estimate of the demand for MS/PF70 coins is based on the number of registry sets in existence. Based on what I see in the population reports, if you want a scarce MS/PF70 ASE, you need to look at coins before 2002.

 

I would be interested to know what the highest price that the 2006 set achieved in the year after it's release in relation to it's current price.

 

Keep in mind the Silver Eagle is a bullion product, and has become the symbol of American sovereignty to silver investors around the world. The popularity has little to do with the Registry game.

[lehigh96]

 

Keep in mind the Silver Eagle is a bullion product, and has become the symbol of American sovereignty to silver investors around the world. The popularity has little to do with the Registry game.

 

I was equating the demand for certified (specifically 70's) with the number of registry sets. I am sure there are many thousands of casual collectors who collect ASE's and pay a small premium to the current silver price. You will have a hard time convincing me that these bullion collectors are going to pay thousands of $'s for 5 bullion coins.

 

BTW, what was the issue price of the 2006 set and what is the current price of the 2006 set in original mint packaging?

[bochiman]

 

Keep in mind the Silver Eagle is a bullion product, and has become the symbol of American sovereignty to silver investors around the world. The popularity has little to do with the Registry game.

 

I was equating the demand for certified (specifically 70's) with the number of registry sets. I am sure there are many thousands of casual collectors who collect ASE's and pay a small premium to the current silver price. You will have a hard time convincing me that these bullion collectors are going to pay thousands of $'s for 5 bullion coins.

 

BTW, what was the issue price of the 2006 set and what is the current price of the 2006 set in original mint packaging?

 

 

$100

~$330-$400

[lehigh96]

 

Keep in mind the Silver Eagle is a bullion product, and has become the symbol of American sovereignty to silver investors around the world. The popularity has little to do with the Registry game.

 

I was equating the demand for certified (specifically 70's) with the number of registry sets. I am sure there are many thousands of casual collectors who collect ASE's and pay a small premium to the current silver price. You will have a hard time convincing me that these bullion collectors are going to pay thousands of $'s for 5 bullion coins.

 

BTW, what was the issue price of the 2006 set and what is the current price of the 2006 set in original mint packaging?

 

 

$100

~$330-$400

 

And how high did the prices go in the 1st year after they were issued?

[ritter]

it has nothing to do with the registry.it does have to do with the mintage.some people collect them just to put them in their security box at the bank.some collect for their dansco book.my point is,everybody collects for their own reasons.we will wait and see how the movie ends. rick