Well, looks like the mint sold out in 4.5 hours:
I'm a big ASE fan so I've been looking forward to this set coming out since it was announced. Feels good man! I hope not too many people were unable to get their orders in when the mints site went down, I had to phone my order in because the website pretty much shut off for me.
I can't help but wonder if 4.5 hours is some kind of record! With only 100k sets it seems like the mint was setting itself up to disappoint alot of collectors. I plan on having mine graded. Fingers are crossed for a perfect set but I'm not counting my chickens.
How did everyone else fair out there? I haven't seen much mention of this set here in Turdland so I'm wondering if there is much interest in them.
The reverse proof is pretty sweet but my fav is the burnished S mintmark.
That was one of the most frustrating experiences I've ever had! An exercise in futility to say the least. The site was blown up from 12 EST until at least 4. Between the frequent 'peer resets' I somehow managed to get a set in my shopping cart but was unable to complete the transaction until a few minutes ago. Like bleve I called the Mint but every prompt led to a busy signal. The mint did accept my order but according to their acceptance terms they reserve the right to cancel the order. Oh well, it's a long shot but I may have picked up a set up for the inflated price of $60/oz.
Yeah that was very frustrating for me. The sale started at 9am here in California time, by then I had finished my first full pot of coffee and was logged into my account on the mint site fully ready to go, then blam, the site just went right offline. After about an hour I had finally gotten the items in my shopping cart but could not complete the checkout, meanwhile I was calling the mints customer service line, waiting for the inevitable busy signal, then rapidly redialing. When I finally got through to someone they were actually very polite and helpful.
Great investment. I wish I had bought 5. They are going for 700 on ebay right now
.. Westminister Mint.. Sold Out.
Even though the aftermarket for these is high, I still see opportunity for profit. The key at this point is getting the original sealed boxes of 5 sets and not opening them. Sending them in to be graded, its a pretty safe bet you will get some pf69 and pf70's.
I still havent gotten my order yet, but the mintage is so low (100k!!!!) that both the Phili reverse proof and the S mintmark burnished are key coins for the set. I fully expect perfect specimens of those two coins to sell for $1000 plus each within a couple months.
At that low a mintage, they are the 2nd lowest mintage of all the ASE's, right behind the 1995-w which in perfect grade sells for over 10k. Yes you read that right one ounce of modern silver worth over 10k.
I'm pretty sure if you were to buy an unopened case even at 3k on ebay, you would recoup your investment and still have a few 'free' coins left over. jmho of course!
Also, if you are lucky enough to get a perfect set of all 5 coins, that one set will sell on ebay for between 3-4k, so you could in theory sell that one set to make your money back and keep the other 4 as your bonus, or sell them for 7-8 hunred each and take your profits.
Very, very important is that the original box of 5 sets from the mint be unopened, because the other coins not specific to the set are not acceptable by the main grading companies because they are available as regular releases outside the set.
all those people opening the boxes and flipping the sets one at a time on ebay are just depleting the population of gradeable sets, making them more and more rare in graded form. If you are lucky enough to have a perfect or even pf69 version of the coins, you are probably looking at a total population under 20k thanks to the crazy flippers. Just sayin!
I was deep into the cough medicine last night, but I swear I saw The Coin Vault selling a 5 coin set in 70 grade for $2799.
I was lucky enough to get through and get 5 sets. I just received my grades from PCGS and, needless to say, I am very happy.
I received 10 70s out of 25 coins, which included 4 70s for the "key" coins. (3 for the reverse proof and 1 for the "S").
All told, I have one complete set of 70s. Unfortunately, my son and I "split" this order and we need 1 more "S" 70 and 1 more regular proof 70 to make a second set. If we don't get the two needed coins my argument to him is that since he's going to inherit all of my coins anyway, I get to "keep" the 70 set "for now":)