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Ready to buy?


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.

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5 Responses to Ready to buy?

  1. wjregan says:

    Hello David, This set must have been going like hotcakes, because when I tried to log on at 1:00 pm EST, their web site was shut down and as of 2:00 nothing up and running yet. You can get to the Mint’s main web site, but when you try to go to the “shop” section you get nada; oh well I suppose it is a sign from above that this set was not to be in my future :).

  2. johndean66 says:

    Wrong Dave – Sold out in under 5 hours
    Waiting List Notice: The number of orders we have taken meets the maximum limit for the 2011 American Eagle 25th Anniversary Silver Coin Set. You may still place an order for this product, which will go on a waiting list. If a product becomes available due to an order cancellation, we will fulfill orders from the waiting list on a first-in, first-served basis. We cannot provide information about your position on the waiting list.

  3. pl.mark says:

    I called mint headquarters and they might reduce orders just like they did last year for the national parks bullion coins. I gues that customer service is improving (either that or a FOIA request as to how many additional orders are being taken after the mintage had been reached somehow scares them).

  4. pl.mark says:

    Place your order, because if they reduce the quantity per order you will still have a set guaranteed.

  5. Morris Kessler says:

    Nice call, Dave on the price. Well done Grade “A” on that one ! However, on your sellout guess, yikes ! Have to get you a -D, as it soldout in 5 hours as you know.

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