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Thread: TYPE2 AGEs

  1. #21

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    @Maxwellsilverhammer: Max, I'm sorry. I had typed out a detailed and lengthy explanation of why, in the end, you should probably lean towards PCGS for submissions for your coins. But it keeps coming up with "submission error", so all of that information is lost. And even though I had copied it, somehow a screenshot from Ebay was saved as I was thinking we were in the clear for that post and I moved on to responding to Unsustainable. I do actually like both of these top tier grading services, but it's hard to argue against the market leader and the resultant prices that PCGS's slabs command.

  2. #22

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    @Unsustainable: I apologize to you too. I had typed out a response to your last post, which was detailed and explained, for those who don't understand, why lower mintage middle fractional AGE's (and other bullion coins like Pandas, Libertads, early Perth Mint stuff, etc.) are good to pick up and stack as they have attained numismatic status along with some huge premiums. Unfortunately, it too, has been lost to "submission error" or so they say. I'm a bit frustrated at this point, but suffice it to say, I agree with what you said and the U.S. Mint needs to do a much better job than just trying to appeal to the Woke Crowd. They need to get back to coming up with beautiful and allegorical representations of Liberty instead of just dead presidents and statesmen and the 215th anniversary of this or that

  3. #23

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    Quote Originally Posted by bronkster1967 View Post
    @Unsustainable: I apologize to you too. I had typed out a response to your last post, which was detailed and explained, for those who don't understand, why lower mintage middle fractional AGE's (and other bullion coins like Pandas, Libertads, early Perth Mint stuff, etc.) are good to pick up and stack as they have attained numismatic status along with some huge premiums. Unfortunately, it too, has been lost to "submission error" or so they say. I'm a bit frustrated at this point, but suffice it to say, I agree with what you said and the U.S. Mint needs to do a much better job than just trying to appeal to the Woke Crowd. They need to get back to coming up with beautiful and allegorical representations of Liberty instead of just dead presidents and statesmen and the 215th anniversary of this or that
    Amen. I agree totally. HOWEVER, what would probably be best is if they would just totally lay off the commemorative issues for a few years. Sheesh, it getting just silly with myriad of the recent issues.
    "It's the lure of easy money - It's got a very strong appeal." - Glenn Frey (The Smuggler's Blues)

    "A wise and frugal government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned." - Thomas Jefferson

  4. #24

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    @LeadHead: I couldn't agree with you more! The problem is that the U.S. Mint is the largest coin dealer in the world and their endless parade of limited edition this and limited edition that, numismatic and bullion offerings still appeal to people's human nature. Many collectors and speculators seem to fear missing out on that next possible home run that really only comes along once every blue moon. The Mint can and does play the retail marketing game to a "T". They just add a privy mark, a different mintmark, a reverse-proof finish, rehash old designs of classic U.S. coins (Morgan and Peace silver dollars, St.Gaudens double eagle design on the AGE, Walking Liberty on the ASE, Buffalo nickel on a commem. silver dollar, etc., etc.), their occasional "mistake" of using proof dies on a BU bullion coin or limit their production of a particular coin to somewhere between 10k and 50k and it's "If you build it, they will come." all over again. No imagination, no original creativity. I'll say it again... There has to be tens of thousands of artists who could come up with absolutely beautiful albeit updated designs of Liberty. Where the hell are they, though? Until they find and use such artists, they should refrain from minting any new commemorative coins.

    Another problem is, as you've said, that the Mint jams out any excuse they can for a commemorative coin- whether it makes sense or not. They're certainly not going to listen to guys like you and me, though. I mean, I'm a long-time coin collector who has learned from making every mistake in the book while collecting. Some of those mistakes were trusting that the Mints massively overpriced offerings, even their precious metal ones, would appreciate in value over and above the precious metal content. That has rarely been the case though, even though freak occurrences do happen and usually if you're patient enough and wait until after the initial excitement phase of a new coin dies down, you can pick that same coin up for around melt prices. One of our local coin dealers charges 3% over melt for modern proof U.S. commemorative $5 gold coins. I've taken that deal a few times when spot was lower so it does work out sometimes.

  5. #25

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    I haven't purchased anything from the US mint in decades with the exception of the recent American Legion commemorative coins. I stopped back on the '60's with the mint sets put out by the millions. I purchased the Legion coins because I'm a member of that organization, not because of the mint had me jumping on the "Franklin Mint" type crap they put out on an increasing level of lets see if it sells $hit. I haven't even purchased ASE's or AGE's directly from the mint. I have picked up a few in the secondary market when the price was right. It is my belief that when a "rare" modern coin, that doesn't circulate, is produced in the millions of pieces that it is not rare. Even if produced in the 10's of thousands or 100's of thousands they aren't rare. Perhaps hoarded by those in the know that bought up a large percentage of them when produced and are now releasing to the public at high mark ups until the market is saturated. I remember this happening with the 1955 double die nickel. They were selling for hundreds of dollars and all controlled by a few coin dealers. Today, they are still worth a bit, but if you had put massive dollars into rolls and rolls of them at several hundred dollars each you'd be looking at a large loss.
    American Legion Preamble: https://www.legion.org/preamble

  6. #26

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    IMO, the U.S. mint should not even be in the business of creating coins for numismatic reason.

    Their focus should be in production of coins that the masses will actually commonly use. And with common usage, will naturally come interest, and then coins with great numismatic value.

    As it is, coins are largely considered a nuisance, unlike when I entered into coin collecting, and quarter would get me school lunch, a dime some milk (or school breakfast). That's when I discovered silver. These days, coins are tossed away as junk, because their worth in the marketplace actually is near worthless. Only the dollar coin really has practical use, and as such I get rolls of them to use in parking meters, bus, to avoid getting dirty fed notes.

    Coins did and can still have very practical use superior to that of paper, if they had any real value. They are easier for both humans and machines to rapidly count, and are more durable.

    If the mint cared about practical use of coins, they would eliminate all coins under a dollar (maybe keep the quarter, similar as a farthing once was), while the dollar coin is like the "hot crossed buns" penny of old, a 1/2 dime as the $5, dime for $10, and $20, $50, and even $100 coins.

    Of course, they won't do this as our entire government and monetary system is not to serve the common person, but rather to exploit them. For easy exploitation, best to phase out physical currency, coinage first. Once you understand this, you can no longer be upset with whatever shenanigans they may partake in, as you expect such from them.

    While my first bullion holdings where in the form of AGEs and ASEs, I no longer consider buying them unless I find special sales. I have no affinity for them as American coinage, as the U.S. mint is a sham that cares not to serve the people. I can not be in denial on this, and I am sorry if I bring depressing news to anyone here.

    Still old U.S. coinage is fun to sort through, reminds me of a time when the U.S. was still in large part a righteous and honest country, well, at least with the common coinage the people used.

    My fave numismatic coins are from the 1800's, especially the half dime and large cent, everyone gets a kick out of them, as they are commonly known today, and they illustrate what many people wonder about. For silver bullion, I like large units, no more AGE rounds for me (even without the absurd premiums) and if I need silver for things like kids piggy banks -- pre '65 silver coins are the way..
    Last edited by motocat; 06-28-2022 at 12:23 AM.
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  7. #27

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    90% 1964 Kennedy half dollars from the cheapest (supposedly) online site has a whopping 50% premium. I was paying nearly the SAME amount per roll before all this premium stuff started...the spot price has dropped like a rock but the premium increase makes up the difference. What a sham.
    Gold. The only money that matters. The only money that lasts.

  8. #28

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    Quote Originally Posted by Unsustainable View Post
    90% 1964 Kennedy half dollars from the cheapest (supposedly) online site has a whopping 50% premium. I was paying nearly the SAME amount per roll before all this premium stuff started...the spot price has dropped like a rock but the premium increase makes up the difference. What a sham.
    yep the same thing happened to the pricing of silver dollars several years ago and that is when i stopped buying them and switched to half dollars, now i have to go to quarters and dimes of the washington and rooseveldt types for the lowest premiums.

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