Paying Through The Nose

[beauanderos]

ok, so I get the flipping for a profit part of obtaining the new Ike sets. Looks like they are fetching crazy prices on ebay...
above $500 for two sets.

My question is...

why? Is this just the latest form of tulipmania?

[AdamsSamoa]

Crazy right,.,,

[hobo finds]

tulipmania? I had to look it up! LOL You may be right there is only an ounce of silver in there a $1.00 coin and a Postage stamp you could still use... I feel its is the limited amounts made but look at baseball cards, beanie babies, cabbage patch kids... at least you still got an ounce of silver and a $1.06

[beauanderos]

I just don't get why these "idiots" (the ones paying outrageous prices on ebay) don't just buy two sets directly from the mint... themselves???

[highroller4321]

ok, so I get the flipping for a profit part of obtaining the new Ike sets. Looks like they are fetching crazy prices on ebay...
above $500 for two sets.

My question is...

why? Is this just the latest form of tulipmania?

This is the 2nd ever reverse proof presidential dollar PLUS it will only have a mintage of 17,000 coins. It also helps that IKE it one of the most well known presidents.

[AlexTG]

I just don't get why these "idiots" (the ones paying outrageous prices on ebay) don't just buy two sets directly from the mint... themselves???

Not sure if you were in the rat race with the rest of us but many people from our Rodebaugh group didn't even get sets because they sold out so fast. I highly doubt that they are long term worth $400 each but ebay is weird. Remember, there were people paying hundred for phones that had flappy bird installed 2 years ago.

[AdamsSamoa]

Yes. E bay is wild like that... I also do not think that they will retain their high premium, but you never know. The market sets the price

[Thogey]

I just don't get why these "idiots" (the ones paying outrageous prices on ebay) don't just buy two sets directly from the mint... themselves???

Not sure if you were in the rat race with the rest of us but many people from our Rodebaugh group didn't even get sets because they sold out so fast. I highly doubt that they are long term worth $400 each but ebay is weird. Remember, there were people paying hundred for phones that had flappy bird installed 2 years ago.

There were people paying through the nose for Obama Chia pets and Twinkies.

Sell your sets on E-bay or to Chris ASAP.

[everything]

In part, well mostly, It's the RP stuff. I've got 10 March of Dimes sets sitting around doing nothing, by themselves they are selling for around a $25 premium, they need to be opened, the RP dimes inspected and sent in for grading accordingly as that one little tiny piece of silver can fetch around $150 on the bay if it's graded to the MS-70 state. It's kind of a fools game with these different mint sets, you just have to play along with it.

[RichardPenny43]

Check out the PF70 MS70 Truman coins!
http://m.ebay.com/itm/2015-Coin-Chronic ... 1720483620

[Diggin4copper]

I was sitting at home playing on the computer and forgot they were going on sale...

[InfleXion]

I wasn't alive for tulip mania, but I was for dragon mania. That was the first and last time I overpaid for something when it first came out. Sure there is profit to be had, but I prefer not to play that game. Somali elephants are $20/oz and I'm very happy buying those.

[fasteddy]

Sell your sets on E-bay or to Chris ASAP.

Or to gmcoin....yup sell quick before they fall in price.

[silverstacker]

I just don't get why these "idiots" (the ones paying outrageous prices on ebay) don't just buy two sets directly from the mint... themselves???

Not sure if you were in the rat race with the rest of us but many people from our Rodebaugh group didn't even get sets because they sold out so fast. I highly doubt that they are long term worth $400 each but ebay is weird. Remember, there were people paying hundred for phones that had flappy bird installed 2 years ago.

I was able to get through but right at the end when it said "confirm order" it locked up on me 3 times. Finally, the 4th time worked and I got through.

Also, Rodebaugh paid the next day which was awesome. Thank you sir

Brian

[beauanderos]

I don't think that "items" that fetch outrageous prices on ebay establish their fixed worth. When you see overly high prices, it's usually
because two idiots (with big egos in play) placed a WIN bid that was several levels above market value, just to ensure they'd win... and
they knocked each other for a loop. As in examine the bid history of the aforementioned ebay link provided in this thread.

[Recyclersteve]

I just don't get why these "idiots" (the ones paying outrageous prices on ebay) don't just buy two sets directly from the mint... themselves???

Part of the demand comes from people telling others AFTER they bought their sets about the limited mintages. The ole... "Did you see those cool sets that sold out in less than 10 minutes? Maybe they have some on eBay... (Said knowing full well there would be sets there)"

[neilgin1]

Check out the PF70 MS70 Truman coins!
http://m.ebay.com/itm/2015-Coin-Chronic ... 1720483620

what the!!!! $1700?!?

I mean I understand numi premiums, and small mint numbers, like 17,000, etc.....but $1700?

I don't GET it!...we are standing financially on the edge of the abyss, and 34 bids to pay $1700 for modern numi?....even if it's got the holy grail of an MS70.

y'know, when I got real about stacking, this was Feb 08, I set some parameters, all US silver coinage, whether 90's, 40's (that was later) and .999 Eagles. and all purchases were rolls. (along with buckets of 95 coppers and stacked bricks of nickels) MOST of the 90's I bought were BU's or GEM/BU's, so I paid up a bit, or maybe even more. I was trying to play a two pronged game, intrinsic stacking value, with a numi tinge.

reason?....I believe the dollar is doomed, and maybe ALL global fiat.....who knows, these criminals might try and pull a global currency like SDR's from the IMF ("Special Drawing Rights")....and I wanted most every Ag coin I have to "look precious", meaning that nice silver blast white.....I KNOW that probably 97% of our fellow citizens have NO CLUE about MONEY.....money and currency are two different things, but you guys know that.

I wrote all that to write this; when we were doing that climb to $50, and then cresting and trading lower.....excuse me, suppressed lower, I noticed on Ebay, the 1971-74 blue and brown Ike's were neglected...meaning for a period of about a year and half, I would bid on most every single 40% GEM/BU Ike roll listed , and the funny thing was, I was picking these up just a titch above melt...admittedly "melt" at that time was in the 30's and then 20's...and one could say, "you got hammered", but I don't flip or sell, so I don't lose sleep over purchases made at higher levels. why not?

tell you why...someday, time frame unknown, could be a month, could be a year, or ten....the difference between $20 paper money and $30 paper, would be akin to the difference between 2 cents and 3 cents TODAY...think i'm crazy?

well then, just check out the 20 year charts on M1, M2, and M3, these criminals have violated every tenet of sound monetary policy, and when you look at the MV, monetary velocity chart , 20 year....THAT is the proof in the pudding. Ron Paul ...FOR YEARS, fought a furious fight to change all this irresponsible criminal activity, but age, and probably the realization that the corruption had burrowed SO DEEP, impelled him to leave public SERVICE.

sorry to meander, but since that seismic shift of the devaluation of the yuan, i'm utterly convinced that life as we know is going to change very soon, and that makes me very sad, because today, try and find a leader like Ike?...good luck on that.

My many rolls of 40% Ikes, to me, are more than just part of a stack of Ag, they represent an America, that has become just a memory....when a President could speak to the nation like this:



when I listen to that excerpt and look into his eyes....and then I consider the human pygmies vying for the Presidency in 2016, like Hilary or Jeb, or Donald, or Bernie, or Scottie I just get so depressed...and even though the next clip is FICTIONALIZED TV, I wish SOME public figure would have the stones to say this:



(ps...my 19 year son turned me onto this, because thru his formative years, he's heard my views, and is also a Jeffersonian constitutionalist, gave me the highest complement a son could give a father, he told me, "when I was watching this Daddy, "Will MacAvoy" reminded me exactly of you"......when your son holds you in esteem, it cant get better than that...its priceless. God love you guys, n)

[Doctor Steuss]

Check out the PF70 MS70 Truman coins!
http://m.ebay.com/itm/2015-Coin-Chronic ... 1720483620

what the!!!! $1700?!?

I mean I understand numi premiums, and small mint numbers, like 17,000, etc.....but $1700?

I am still trying to wrap my head around this.

This much money could potentially score you an XF/AU Liberty Seated Dollar. I just don't get it.

[beauanderos]

Check out the PF70 MS70 Truman coins!
http://m.ebay.com/itm/2015-Coin-Chronic ... 1720483620

what the!!!! $1700?!?

I mean I understand numi premiums, and small mint numbers, like 17,000, etc.....but $1700?

I am still trying to wrap my head around this.

This much money could potentially score you an XF/AU Liberty Seated Dollar. I just don't get it.

Look at the bid history, I tell ya! Two fools each had competing WIN bids several hundred dollars above the more conservative prior last bids. Had one
or the other not been there the item would have sold for much less ($1250).

[pennypicker]

[quote="beauanderos"
Look at the bid history, I tell ya! Two fools each had competing WIN bids several hundred dollars above the more conservative prior last bids. Had one
or the other not been there the item would have sold for much less ($1250). [/quote]


And to think they could have instead won this on ebay for $1650 and had change left to go to McDonalds.....or Burger King

[InfleXion]

I mean I understand numi premiums, and small mint numbers, like 17,000, etc.....but $1700?

I don't GET it!...we are standing financially on the edge of the abyss, and 34 bids to pay $1700 for modern numi?....even if it's got the holy grail of an MS70.

y'know, when I got real about stacking, this was Feb 08, I set some parameters, all US silver coinage, whether 90's, 40's (that was later) and .999 Eagles. and all purchases were rolls. (along with buckets of 95 coppers and stacked bricks of nickels) MOST of the 90's I bought were BU's or GEM/BU's, so I paid up a bit, or maybe even more. I was trying to play a two pronged game, intrinsic stacking value, with a numi tinge.

I would make the case that part of the reason for the financial issues we are facing nationally and globally is for the very reason that many people don't know how to manage their money very well. We are seeing the same behavior that led us to where we are today, and it's not going to change until it hurts not to change.

Semi-numis comprise probably about half of my stack, if not more. The idea of paying an extra buck or two, and sometimes even the same price as a silver eagle, for something that has historically had far greater growth in premiums over time seems like the way to go. Even though my DCA is about $24/oz since I started stacking, which some might think is not so great considering we are at $15/oz (though you can't buy for that price anyway), a lot of my coins will not sell for less than $30, and a few of them are even still retailing for $40 or $50 even though they weren't numismatic to begin with.

[beauanderos]

I mean I understand numi premiums, and small mint numbers, like 17,000, etc.....but $1700?

I don't GET it!...we are standing financially on the edge of the abyss, and 34 bids to pay $1700 for modern numi?....even if it's got the holy grail of an MS70.

y'know, when I got real about stacking, this was Feb 08, I set some parameters, all US silver coinage, whether 90's, 40's (that was later) and .999 Eagles. and all purchases were rolls. (along with buckets of 95 coppers and stacked bricks of nickels) MOST of the 90's I bought were BU's or GEM/BU's, so I paid up a bit, or maybe even more. I was trying to play a two pronged game, intrinsic stacking value, with a numi tinge.

I would make the case that part of the reason for the financial issues we are facing nationally and globally is for the very reason that many people don't know how to manage their money very well. We are seeing the same behavior that led us to where we are today, and it's not going to change until it hurts not to change.

Semi-numis comprise probably about half of my stack, if not more. The idea of paying an extra buck or two, and sometimes even the same price as a silver eagle, for something that has historically had far greater growth in premiums over time seems like the way to go. Even though my DCA is about $24/oz since I started stacking, which some might think is not so great considering we are at $15/oz (though you can't buy for that price anyway), a lot of my coins will not sell for less than $30, and a few of them are even still retailing for $40 or $50 even though they weren't numismatic to begin with.

yeah... I have a roll (somewhere) of Canadian wolves that I'm glad that I hung on to.