Hey, where are all the First Spouse threads?

[Longacre-migration]

ATS, the boards are flooded with First Spouse threads and speculation on the Obscene Profits™ that the Flippers are going to make. I figured I'd come here for some good, old fashioned numismatic discussion.

 

Sorry for the lack of a question in this thread....

[RGT]

Sorry for the lack of a question in this thread....

 

Must be a Longacre imposter.

[MAULEMALL]

Sorry for the lack of a question in this thread....

 

Must be a Longacre imposter.

[gmarguli]

We're just more quiet over here about it. No use publicly gloating about a $9,000 profit* for practically no work.

 

*Provided prices hold at the current level and the Mint ships my coins soon (they charged the card on the 19th).

[IGWT]

We're just more quiet over here about it. No use publicly gloating about a $9,000 profit* for practically no work.

 

So each dancing banana represents $750? I might buy a First Spouse if one turns up as part of the Torched Tuscon Toucan Hoard.

[chinook]

Welcome

[physics-fan3.14]

Two reasons:

 

1. Nobody cares about the First Spouse coins.

 

2. We are more collector and education oriented here (I think). In other words, less dealers, more collectors.

[RUSS BEGA]

Two reasons:

 

1. Nobody cares about the First Spouse coins.

 

2. We are more collector and education oriented here (I think). In other words, less dealers, more collectors.

 

 

good answers the only one i will be intrested is the jefferson one, just because of the bust design

[WoodenJefferson]

It seems that the Forum quota was filled just the other day, 1 You may add to the exsisting "Golden Girls" thread, but any subsequent attempts to start a new thread/topic about First Spouse's are automatically "flushed"

 

WTG Arch!

[rrantique]

Hi and welcome. It just dawned on me why the dive bomber icon . Dec 7 Pearl Harbor Day.

[ldhair]

I feel that a lot of collectors may have lost interest in these already. At the same time the crazy prices tell me there are still plenty of folks still interested.

 

In my case, I was ready to fork out the 3K or so a year to build the set. The down side was so small. After missing out on the first ones and seeing where the prices have gone, I'll just save the funds for something different.

It sounded fun at 3K but not at 6K per year. Just how I see it.

[Dwaine]

Check out this auction:

 

$25,000 for five sets

[gmarguli]

That's insane, but at least it hasn't sold yet. Many of the buyers at $1,000 a coin could have done better had they looked around. It seems like $800-$900 per coin is the going rate.

 

I can now say these are the most important coins currently in numismatics. I say that as my order shipped yesterday and they're on the FedEx truck to be delivered to me today.

[MAULEMALL]

 

I can now say these are the most important coins currently in numismatics. I say that as my order shipped yesterday and they're on the FedEx truck to be delivered to me today.

[carson city]

Winner,Winner,Chicken Dinner !

[zrlevin]

Mine are still backordered to 7/7!

[camarasa-migration]

Wow gmargulia – I never took you for a flipper – welcome to the dark side…

 

But what a 180 degree turn - I mean from this statement:

 

“I can now say these are the most important coins currently in numismatics. I say that as my order shipped yesterday and they're on the FedEx truck to be delivered to me today.”

 

Compared to this statement you sent to me when I lost my subscription to the same coins…

 

“...With the US Mint it's been a few years since the buyers got smacked. Too many people thinking they can buy garbage from the Mint and flip it for an easy profit. It'll eventually (shortly?) end and a bunch of people will be left holding undesirable stuff and lose money. That's the way it goes and that's normal and fine. While that hasn't happened with the First Spouse just yet, it is nice to see a little crushing of dreams going on. It'll help soften the blow for the future. ”

 

Good luck with your coins sir and I hope you make a lot of money selling them to others who couldn’t get them in time from the mint…

[TomB]

Wow gmargulia – I never took you for a flipper – welcome to the dark side…

 

But what a 180 degree turn - I mean from this statement:

 

“I can now say these are the most important coins currently in numismatics. I say that as my order shipped yesterday and they're on the FedEx truck to be delivered to me today.”

 

Compared to this statement you sent to me when I lost my subscription to the same coins…

 

“...With the US Mint it's been a few years since the buyers got smacked. Too many people thinking they can buy garbage from the Mint and flip it for an easy profit. It'll eventually (shortly?) end and a bunch of people will be left holding undesirable stuff and lose money. That's the way it goes and that's normal and fine. While that hasn't happened with the First Spouse just yet, it is nice to see a little crushing of dreams going on. It'll help soften the blow for the future. ”

 

Good luck with your coins sir and I hope you make a lot of money selling them to others who couldn’t get them in time from the mint…

Those two quotes are not mutually exclusive.

[camarasa-migration]

Those two quotes are not mutually exclusive.

 

I never said they were - they can both be true but it doesn't excuse the second in lieu of the first. I'm done dicussing this I just wanted to get my point accross to gmargulia and if I knew a way to PM I would have used that instead...

[BillJones]

Of all the mint’s new coin programs, this is the one I dislike the most.

 

I’ve studied and have been fascinated by the U.S. Presidency almost all my life. During that time I have naturally learned a lot about the first ladies as well. Some of them were great women who deserved to be remembered in their own right. Their lives sometimes had merit that challenged that of their husbands. Among this group are Abigail Adams, Dolly Madison, Jackie Kennedy and yes even Eleanor Roosevelt, although I’m not among her great admirers.

 

There are other First Ladies, however, who don’t deserve to have a coin made for them. Some were mentally deranged, and others didn’t do anything except perhaps meddle into issues about which they should have remained silent.

 

Second, I find it reprehensible that the mint would produce a long series like this with expensive coins that contain a half ounce of gold. I have no interest in tying up that much money in modern material that commemorates an often trivial subject. I also find it almost insulting that the mint is selling a series of copper medals, so that the “po’ folks” will be able to participate. If ever there were a waste of money, that series would be it.

 

For those reasons, I wish this series would dry up and blow away, but I’m sure that some people are going to make a lot money on some of these pieces selling them to the lemmings after they’ve found at least some of these coins to be “rare.” I’m sure than a really obscure First Lady, like Jane Pierce, will be one of the rare ones. And funny part will be that most of the lemmings who will pay some stupid price for that unworthy piece won’t even know and care about who she was and what she did.

 

I tell you this much. Her life was a very sad one that was marked by what we would call today severe clinical depression. Among the First Ladies she ranks as low on the scale as her husband who was an awful president. Neither of them deserve to have a commemorative coin issued for Franklin Pierce's sorry administration.

[gmarguli]

Those two quotes are not mutually exclusive.

 

I never said they were - they can both be true but it doesn't excuse the second in lieu of the first. I'm done dicussing this I just wanted to get my point accross to gmargulia and if I knew a way to PM I would have used that instead...

 

 

Thankfully I'm not looking to be excused. I'm proud to be a flipper!

 

I hope most of the flippers lose money. There has been too much easy money out there recently and there needs to be a shake out where flippers are stuck holding a bunch of junk that is worth 75% of issue price.

 

There should be risk to profit and there hasn't been recently. I understand and am willing to take that risk unlike so many of the wonder flippers of the past couple issues. These are the people I dislike and hope get hurt.

[MarkFeld]

I understand and am willing to take that risk unlike so many of the wonder flippers of the past couple issues. These are the people I dislike and hope get hurt.

Greg, what makes a person a "wonder flipper" and why do you dislike them and hope they get hurt? Thanks and please note, those were not rhetorical questions. The only time I have ordered such products from the Mint has been at the request of a couple of dealers who paid me a predetermined profit to do so.

 

And, a question for everyone here - what do you think of people who order such items from the mint and cancel their orders if prices do not rise to their satisfaction?

[TomB]

I understand and am willing to take that risk unlike so many of the wonder flippers of the past couple issues. These are the people I dislike and hope get hurt.

Greg, what makes a person a "wonder flipper" and why do you dislike them and hope they get hurt? Thanks and please note, those were not rhetorical questions. The only time I have ordered such products from the Mint has been at the request of a couple of dealers who paid me a predetermined profit to do so.

 

And, a question for everyone here - what do you think of people who order such items from the mint and cancel their orders if prices do not rise to their satisfaction?

I think folks who cancel Mint orders are playing completely within the current rules and it does not bother me one bit.

[WinstonWare]

I’ll say again what I said in the original first wives thread, I like the folks here and I hope they do well with these purchases. I’m not sure what a “wonder flipper” is either, but I agree with Greg that I don’t have an issue with flipping in general.

 

Mark, I’m not sure I completely understood your question. It’s probably because of my lack of knowledge in this market area. It sounded to me like folks ordered these coins a couple days ago and are receiving them now. So, at what point would they have canceled their orders? Do you mean the orders that were backordered? If the orders were backordered and there was little demand left I wouldn’t have a problem with someone canceling their backordered product.

[MarkFeld]

Do you mean the orders that were backordered?

Yes, sorry for not having been clear.

[bsshog40]

I like getting my orders from the mint. I'm no flipper of course. I just order for my own collection. I have seen a couple things that have come out that I wished I had the money to purchase and flip. Like the old saying goes "it takes money to make money".

[gmarguli]

I understand and am willing to take that risk unlike so many of the wonder flippers of the past couple issues. These are the people I dislike and hope get hurt.

Greg, what makes a person a "wonder flipper" and why do you dislike them and hope they get hurt? Thanks and please note, those were not rhetorical questions. The only time I have ordered such products from the Mint has been at the request of a couple of dealers who paid me a predetermined profit to do so.

 

And, a question for everyone here - what do you think of people who order such items from the mint and cancel their orders if prices do not rise to their satisfaction?

 

A "wonder flipper" is what I'd call half the PCGS forum posters. People who have just recently been buying products from the Mint and flipping them. They've done well recently as there have been a lot of winners. Now all of a sudden they think they're hot *spoon* because they made a bunch of money. It's easy to make money in an up market.

 

I want them to get (financially) hurt as they need to understand that reward comes with risk. It'll also make them more humble. The flipping from the Mint is easy money right now, but it won't last forever.

 

I have no problem with people reserving and then canceling their orders if the profit is not there. That's within the Mint rules. I also don't have a problem with them returning their purchases. It's slimy, but within the rules. I'd personally like to see the rules changed and that once you buy you own it and no canceling or returns. That'd give collectors more of a chance of getting a coin for themselves and reduce the nmber of speculators.

[camarasa-migration]

So you hoping for them to get hurt financially stems from what? Sorry, I just don’t get it – why would you be upset if other people made money (regardless of the market)? Are you upset that some people made money from an issue that you perhaps thought would do badly (after weighing up the risk vs. profit) and so didn’t buy any yourself? Because that’s the impression I’m getting. If so then you’re a sad person, if I’m wrong then I apologize profusely.

 

And what makes you think that they haven’t been looking at risk vs. reward for each of the issues up till now and found it well worth the risk to buy each series. I’m sorry I just don’t understand your reasoning for the hatred.

[BillJones]

I only get sick of "flippers" when the mint allows them to buy up a considerable portion of a limited mintage which leaves large numbers of collectors with their orders rejected.

 

Back in 1999 the mint refused to sell Proof sets in large blocks to dealers. As a result dealers had to purchase resale coins in small lots, which they claimed drove up the bids. TOUGH!! At least collectors had a chance to buy the coins at the issue price, which is the way it ought to be.

[gmarguli]

So you hoping for them to get hurt financially stems from what? Sorry, I just don’t get it – why would you be upset if other people made money (regardless of the market)?

 

Because these people seem to equate making money with actual ability. During the internet stock crazy everyone seemed to be an expert stock picker. During the real estate boom everyone was an expert real estate investor. During the last couple years of hot mint products, everyone is an expert flipper. I just get sick of people who ride the wave and believe that wave made them an expert. A nice loss will help bring them down to earth and stop their pontificating.