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How high will it go? Amazingly - $4,300!

Started by Afterword,

24 posts in this topic

BillJones

BillJones

Posted
Posted

There are quite a number of 19th century U.S. gold coins with a surviving population of 500 pieces or less that sell for good deal less than $10,000. I think that this should give some people a bit of perspective. Add to that the fact that thousands more of these coins will be issued, and I'd say the price estimate is on the high side.

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BillJones

BillJones

Posted
Posted
Wasn't Silver Towne one of the companies that bused in several people to act as purchasing agents? I'm not accusing or stating this as fact, but I am curious.

 

I heard that they were, and so far I'm concerned that's one more reason not to pay them a profit for their misdeeds.

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jom

jom

Posted
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It looks like a nice coin. I can't wait to get mine with the nice wooden box. It's even better that I only paid $1240 for it. :devil:

 

jom

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Conder101

Conder101

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I don't know if they bused them in, or if they hired people to stand in line, but they WOULD have been in the group at the mint booth immediately offering large premiums to everyone getting their coins. Typically at these events Silvertowne comes away with the bulk of the coins. My understanding is they acquired close to half of the HOF coins sold in Baltimore.

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JJSingleton

JJSingleton

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$4300?...What a steal! And I don't mean by the buyer. Looks like Silvertown stole at least $2500 cash. An insufficiently_thoughtful_person would pay $500 for the label. I don't know what to call this person.

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MarkFeld

MarkFeld

Posted
Posted
$4300?...What a steal! And I don't mean by the buyer. Looks like Silvertown stole at least $2500 cash. An insufficiently_thoughtful_person would pay $500 for the label. I don't know what to call this person.

 

Please explain how they "stole at least $2500 cash"?

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Raisethis2

Raisethis2

Posted
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^^^^^^^^^ Find the coin's new owner in 6 months and he/she will tell you.^^^^^^

 

 

 

 

 

 

 

 

This was nothing less than a get rich quick scheme conjured up by a bunch of fair weather collectors and Dealers (but mostly Dealers). A positive Mint promotion (however poorly handled) was absolutely exploited for maximum financial gain at the expense of those who will buy these coins in this upcoming cycle of sales.

 

The Silvertowne's and the E-Bay flippers can't sell these things fast enough for fear that the market will come to it's senses.

 

If these things hold their value THAT will be a numismatic first.

 

 

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Mr.Mcknowitall

Mr.Mcknowitall

Posted
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Those who will buy these coins have a choice not to.

Exploitation occurs when the "those" decide they want to be exploited.

It is not the "Market".

It is, as usual, people with a slightly greedy bent to their nature.

Schemes are not successful without greedy people...fair weather or not.

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Fiddlehead

Fiddlehead

Posted
Posted

That is a pretty crazy price. Doesn't seem like they stole $2500 - someone actually gave it to them. And it only has about 3/4 of an ounce of gold in it. I sometimes use a little coin for an icon - an 1840 $10 eagle - PCGS estimates less than 200 exist. It might be worth 1/2 of that $4300! Geesh.

 

Duk

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JJSingleton

JJSingleton

Posted
Posted
$4300?...What a steal! And I don't mean by the buyer. Looks like Silvertown stole at least $2500 cash. An insufficiently_thoughtful_person would pay $500 for the label. I don't know what to call this person.

 

Please explain how they "stole at least $2500 cash"?

Figure of speech and play on words Mark. When a buyer gets a super sweet deal it is called a steal. This deal is the reverse of that. I do not believe Silvertown has literally stolen $2500 and they have done nothing illegal, but IMO the result is pretty much the same. It is inconceivable to me that the TPG plastic & label on this no limit mint to demand coin can be worth more than $500 over issue price. Buyers at $4300 have no chance of recovering the additional "$2500 hype fee" on this coin. But I hope for them I am wrong. And if I am I will happily come back to this thread in a couple of years and admit to my error.
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MarkFeld

MarkFeld

Posted
Posted
$4300?...What a steal! And I don't mean by the buyer. Looks like Silvertown stole at least $2500 cash. An insufficiently_thoughtful_person would pay $500 for the label. I don't know what to call this person.

 

Please explain how they "stole at least $2500 cash"?

Figure of speech and play on words Mark. When a buyer gets a super sweet deal it is called a steal. This deal is the reverse of that. I do not believe Silvertown has literally stolen $2500 and they have done nothing illegal, but IMO the result is pretty much the same. It is inconceivable to me that the TPG plastic & label on this no limit mint to demand coin can be worth more than $500 over issue price. Buyers at $4300 have no chance of recovering the additional "$2500 hype fee" on this coin. But I hope for them I am wrong. And if I am I will happily come back to this thread in a couple of years and admit to my error.

 

Thank you for taking the time to explain.

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e1cnr

e1cnr

Posted
Posted

Silvertowne shills their auctions on Proxibid - if you win a lot it went for at least what they wanted - otherwise it 'sold onsite' and returns to another auction in a few weeks

 

I think they are HowardsDirect or something on eBay

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bsshog40

bsshog40

Posted
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Although I think the price of these are outrageous, this price doesn't really surprise me. People are crazy for the PF70 moderns. Look at the 2011 Rev Pf Eagle. Those are selling around $500-600 a piece for 1 oz of silver. Not sure of what the total mintage of these Kennedys will be, but these high prices will probably be paid for a while still until the actual mintage of these drops the prices down to more realistic prices. Whatever that is. lol

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casman

casman

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Well, while not directed at ST, those that jumped the line and there were dozens potentially "stole" which is a strong word coins meant for those rightfully in line. 4 cuts=8,000 instant cash if those buyers that had waited had gotten those coins and decided to sell, so yes stole is appropriate.

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DrRich67

DrRich67

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I got mine through the mint and they just arrived today. I am getting them ready to send to NGC and hoping for 70 on both.

I was surprised that I got through on the first day (using my phone while waiting in a Doctors office. My timestamp was 12:11pm. 9 days later I have them in hand, amazing!

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MarkFeld

MarkFeld

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I got mine through the mint and they just arrived today. I am getting them ready to send to NGC and hoping for 70 on both.

I was surprised that I got through on the first day (using my phone while waiting in a Doctors

 

Aoffice. My timestamp was 12:11pm. 9 days later I have them in hand, amazing!

 

Curiously, why are you getting them graded?

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FishyOne

FishyOne

Posted
Posted
I got mine through the mint and they just arrived today. I am getting them ready to send to NGC and hoping for 70 on both.

I was surprised that I got through on the first day (using my phone while waiting in a Doctors

 

Aoffice. My timestamp was 12:11pm. 9 days later I have them in hand, amazing!

 

Curiously, why are you getting them graded?

 

I do think the PF70s will bring a nice premium over issue price if you're selling. 69s and your slabbing fees were "stolen".

 

hm

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BillJones

BillJones

Posted
Posted
I got mine through the mint and they just arrived today. I am getting them ready to send to NGC and hoping for 70 on both.

I was surprised that I got through on the first day (using my phone while waiting in a Doctors

 

Aoffice. My timestamp was 12:11pm. 9 days later I have them in hand, amazing!

 

Curiously, why are you getting them graded?

 

I do think the PF70s will bring a nice premium over issue price if you're selling. 69s and your slabbing fees were "stolen".

 

hm

 

No I think that the only "mining for gold" with this coin will done by those who sell the slabbed pieces with show labels and the "first strike" promotion. The stuff in the normal holders won't be much better than the raw than the raw coins because the mintage will be too high to support a high flying secondary market.

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jom

jom

Posted
Posted
I got mine through the mint and they just arrived today. I am getting them ready to send to NGC and hoping for 70 on both.

I was surprised that I got through on the first day (using my phone while waiting in a Doctors

 

Aoffice. My timestamp was 12:11pm. 9 days later I have them in hand, amazing!

 

Curiously, why are you getting them graded?

 

I do think the PF70s will bring a nice premium over issue price if you're selling. 69s and your slabbing fees were "stolen".

 

hm

 

No I think that the only "mining for gold" with this coin will done by those who sell the slabbed pieces with show labels and the "first strike" promotion. The stuff in the normal holders won't be much better than the raw than the raw coins because the mintage will be too high to support a high flying secondary market.

 

Money could be made during this "transient" period but once the "steady state" kicks in profits will be minimal. All the while I can enjoy the coin in that nice wooden box and also avoid grading fees along the way. Works for me anyway...

 

jom

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