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Did anyone here pick up any of the new enhanced reverse silver eagles from the mint last week? They're selling for over $1,000 ungraded, and the graded ones are going for several times that.

Demand seems to have far exceeded supply for this product. It's an impressive return for the collectors and dealers who were able to place orders.

I had this in my cart with the US mint. I was there at the start. Then a message eventually appears after about 20 minutes. Something to the effect, "you have an invalid item in your cart". Sold out in three minutes by my guess - so "mine" was lost.

AuStruck wrote:I had this in my cart with the US mint. I was there at the start. Then a message eventually appears after about 20 minutes. Something to the effect, "you have an invalid item in your cart". Sold out in three minutes by my guess - so "mine" was lost.

"AuStruck"... cool name there You should copyright it.

My son and myself were on the Mint website giving all we had to get one. I had 1 in my cart, but at checkout said "Sold Out". My son got lucky and actually got one, and received it on Friday. He wants to sell it but we both fear scammers. We see it going for over $1000, and it would be great to get that amount. We are not sure how to proceed in getting that amount without fear of being scammed out both the coin and money. A local sale, face to face, is what I told him he should do, even if he got less than the $1000 going price.

I saw someone selling these at a LCS, the owner was kind of excited about them, as the customer who had them came in while he was working with me.

Had one in my cart and got timed out...

AdamsSamoa wrote:Had one in my cart and got timed out...

Collectors don't even have a chance anymore. These greedy dealers/flippers scarfing up all of them before you can even get one. It's pathetic.

If you have one for sale, and you are worried about scammers, why not sell it to a RealCenter?

ScrapMetal wrote:My son and myself were on the Mint website giving all we had to get one. I had 1 in my cart, but at checkout said "Sold Out". My son got lucky and actually got one, and received it on Friday. He wants to sell it but we both fear scammers. We see it going for over $1000, and it would be great to get that amount. We are not sure how to proceed in getting that amount without fear of being scammed out both the coin and money. A local sale, face to face, is what I told him he should do, even if he got less than the $1000 going price.

I will buy it
send me a private message

Cu Penny Hoarder wrote:

AdamsSamoa wrote:Had one in my cart and got timed out...

Collectors don't even have a chance anymore. These greedy dealers/flippers scarfing up all of them before you can even get one. It's pathetic.

With all due respect, with a limit of one per household, how could dealers scarf them all up?

How do dealers get them? They line people up and educate them as to how they can use a fast internet connection and the right browser to be able to get through to get the order. They work out a deal before hand on payment, even sending out email/advertisement to their mail lists. They can also get employees in on the deal.

It just makes the competition all the more fierce. The sets or rounds gravitate towards dealers, for grading/flipping/certification, or strong hands. But .. to some extent, yeah it's a flipathon, ASE has big following and collectability as far as moderns go.

It looks like prices have plummeted on these. I see several on eBay that are slabbed and have sold for well less than $100 each. Pretty sure I am looking at the right coins. Would someone please correct me if I am wrong?

If this is true, then you have more and more people who become VERY CONFIDENT that the big price spikes that happen on these coins won't last for long. So the spikes become lower and lower and the coins have to be sold that much more quickly. After a while, it just isn't worth doing it anymore. I'm guessing that when the mint's website is working just fine and everyone gets what they want, that will be a bad sign. Just my own speculation.

CORRECTION: Now I am confused. Which ones were the good ones- S-mint or W-mint?

S

Recyclersteve wrote:It looks like prices have plummeted on these. I see several on eBay that are slabbed and have sold for well less than $100 each. Pretty sure I am looking at the right coins. Would someone please correct me if I am wrong?

If this is true, then you have more and more people who become VERY CONFIDENT that the big price spikes that happen on these coins won't last for long. So the spikes become lower and lower and the coins have to be sold that much more quickly. After a while, it just isn't worth doing it anymore. I'm guessing that when the mint's website is working just fine and everyone gets what they want, that will be a bad sign. Just my own speculation.

CORRECTION: Now I am confused. Which ones were the good ones- S-mint or W-mint?

\

Happens a lot with these "special" government strikes... the price spikes initially, then falls on it's face.

Greedy speculators and flippers hoping to get in and out quickly with a nice profit.

Reminds me of the JFK gold half dollar mania. The price on those has fallen substantially.

AdamsSamoa wrote:S

Thx. So it looks like about 5 of these recently sold on eBay in the $100-150 range. Ouch!

Are you sure you are looking at the right ones? S mint silver eagles are selling for under $100. But the reverse proof ones that this thread is about are still sky high. I see 16 sold today alone over $1500

chris6084 wrote:Are you sure you are looking at the right ones? S mint silver eagles are selling for under $100. But the reverse proof ones that this thread is about are still sky high. I see 16 sold today alone over $1500

I AM NOT sure that I was looking at the correct thing which makes me even more cautious about these coins.