From the Feb. 1 Numismatic News E-Newsletter:
Are you surprised that no Apollo 11 coins sold out in one day?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
Not surprising, since they are overpriced relative to the value of silver. I quit buying from the Mint until they reduce prices of everything and create more beautiful designs.
I am not surprised that the silver dollar proof/uncirculated and the clad half dollar proof/uncirculated versions of the Apollo 11 coins did not sell out because of the high mintages. I am somewhat, but not completely, surprised that the 5 oz. Apollo 11 silver dollar coin did not sell out. The five-coin limit per household on the first day of sale deprived dealers of the “First Day of Issue” pedigree and a large profit. The same goes for both versions of the gold five dollar Apollo 11 coins.
The United States Mint attended the Long Beach Collectors Expo and did not have a shortage of any of the Apollo 11 coins or sets for sale to the public.
I, too, have seen three to four times the sale price for graded examples of all versions of the Apollo 11 coins. If large numbers of the coins grade in the 69 to 70 range, prices may start of come down.
Just received my first issue of Numismatics News today, yes, the Mail-Service is back in business (so much for that old Credo about weather).
As to the question of the Apollo coins not selling out yet, you might be correct in that they may not do so. I look into my Collection of the Curved Baseball Hall of Fame coins, all being in MS & PF 70, one set with Johnny Bench facsimile signature, the other Nolan Ryan, and note that neither have reached any degree of unusually high value. If the National Pastime Coins aren’t that wildly popular, then perhaps the Apollo Curved coins won’t garner that much attention either.
On the other hand, it could be a lack of credible advertising on the part of the US Mint. For example: as a Marine Corps Veteran, I noticed when talking with other Vets about the 2005 Marine Corps Dollar that none had heard of such a coin. Same holds true for the Lions Club members that I’ve spoken to. The Mint needs to use a better plan with all of their advertising. As word of mouth does spur a bit of interest to those who aren’t collectors of coins, a broader approach needs to be adopted by the Mint.
So it comes as no surprise that a first day sell-out didn’t occur.
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