Ready to Buy?
October 27, 2011
Is today sellout day?
The Mint begins offering on its website the American Eagle 25th Anniversary Silver Coin Set at noon Eastern Time.
I will say, yes, the set will sell out, but it will take longer than a day to achieve that goal.
I declare this with all the confidence of someone who last week attempted to guess the issue price.
The Mint might tend to agree with me, though. There is a limit of five sets per household, but this applies only for the first week. Perhaps this is an indication that the Mint thinks sales will be wrapped up in a week.
If there were a danger of the coins disappearing in a single day, the order limit probably would have been one set per household.
Now about that issue price. My guess of $289.95 was $10 below the actual $299.95. Must be that darn reverse proof that adds the extra 10 spot to the price.
With its $4.95 postage and handling charge, the Mint will take in a cool $30 million and a little change if it sells all 100,000 sets. That’s no small potatoes, but eminently doable when collectors are gung-ho for something.
The five coins in the set include the reverse proof from Philadelphia that I mentioned, plus a regular West Point proof and a “W” uncirculated Eagle. San Francisco kicks in two coins, but only one carries the “S” mintmark. The other will simply be a bullion coin that looks like the 36 million other 2011 Eagles that have already been sold this year in the investor market.
A lacquered hardwood box houses the five coins.
Will the box turn into an investment in its own right as the cherrywood box that housed the six-coin 1986 Statue of Liberty coins did?
No. I think that would be pushing it.
Paying $100 for a box on the secondary market 25 years ago is just one of those crazy, inexplicable things we collectors did when we were younger.
On October 27, 2011 Byron Wood
On October 28, 2011 Forrest
On October 28, 2011 Mark Hedden
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