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Mercury Dime 2016 Centennial Gold Coin

MrLucky

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#1
Someone had to do it.

It's amazing.

There is a feeding frenzy going on over this coin, with dealers lining up the minions to buy for them, and there is not 1 post here (except for a post today by Starter in his small gold coins topic). I guess the numi folks are elsewhere now.

Ok, 2 posts, I just found another.
 

Starter

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#2
Someone had to do it.

It's amazing.

There is a feeding frenzy going on over this coin, with dealers lining up the minions to buy for them, and there is not 1 post here (except for a post today by Starter in his small gold coins topic). I guess the numi folks are elsewhere now.

Ok, 2 posts, I just found another.

I guess it will be a great play for people planning on selling within the next year or so.

This reminds me of something like either the 2014 Baseball HOF coins or the 2015 Kennedy gold coins. Very good price appreciation in the beginning, but anything can happen after that.

I take it that you are planning to buy some yourself?
 

MrLucky

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#3
Not really. I am a minion for a dealer. I am buying my limit for him. I may pick up one after the frenzy is over. Not sure.
 

Professur

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#4
$205 for a 1/10th when spot is $1250?
 

Starter

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#5
$205 for a 1/10th when spot is $1250?
You got it. This coin is for one of two kinds of buyers:

1) People who really like the coins from 1916 and want to have a keepsake

2) People who want to make quick money from the people in the 1st category


The Mint assigned this premium based on this knowledge, and I don't blame them.
 
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<SLV>

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#6
I doubled my money on the BHOF coins within a week of taking delivery. It is a beautiful coin.
 

birddog

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#7
Got my order in....
 

birddog

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#8
And..... they're gone.
 

<===Foolsgold

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#10

southfork

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#11
Odd how the mint can charge 50 to 100 % mark ups and more but coin stores selling old 1900s gold at preiums are called scam artists and prosecuted by .gov
 

Dude

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#12
Got 20. Will keep the 6 best ones and send 14 forthwith $25 profit per. Also get to keep all the OGP. I thought it was a win win win.
 

Professur

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#14
OGP?
 

Irons

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#17
We were talking about them March 5 in Starter's thread, I will snag one from a third party on ebay for cheap when the hubub dies down. Give it a few months and somebody with a few will have to make a tattoo payment and will dump some at a loss.
It always happens. :2 thumbs up:
The new/old Gold coins the mint will be coming out with are going to be awesome. Mercury dime @ 1/10 oz, Standing Liberty quarter @ 1/4 oz and Walking Liberty half @ 1/2 oz are going to be beautiful coins. I will probably wait and get them from places other than the mint after the hubub dies down and the prices drop down to more normal.
They can discontinue the eagle series as far as I'm concerned when they start making these. Maybe keep the 1 oz eagle.
The US had flat out gorgeous coins before they started putting dead presidents on them. I never appreciated how cool they were until I started finding them with my metal detectors. Now if I could just find a old US Gold coin...................

View attachment 81632
 

Starter

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#18
We were talking about them March 5 in Starter's thread, I will snag one from a third party on ebay for cheap when the hubub dies down. Give it a few months and somebody with a few will have to make a tattoo payment and will dump some at a loss.
It always happens. :2 thumbs up:
I also chose not to buy the coin yesterday partly for that reason. But mainly because I do not feel particularly drawn to the coin. If the price refuses to go down within the next year, I am also happy to keep my money.

On another note, I agree that your first posting on these coins in the "Small US Gold Coins" thread was appropriate. I purposely named the thread like that to cover a broad range of coins, but only limited to US coins. I mainly had gold half eagles in mind, but any US gold coins of 1/4 oz or less fall into that category, as I see it. And Mr. Lucky starting a new thread specifically for this coin was also appropriate. It is perfectly fine for one topic to be discussed in two threads, if that topic is a subset of a broader topic in a different thread.
 

Irons

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#19
I think it's a good thing too. This forum is big enough it is almost impossible to know what is in every thread.
 

MrLucky

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#20
I started this thread (even though the coin was mentioned in Starter's thread which I noted in my initial post) as it was done before for other Mint coin offerings. Although this is probably the smallest (1/10) to garner such attention. Also it is true that when a coin is discussed in a blanket thread (small gold coins), after a few pages it gets lost.

Interest in this coin will die shortly and it will sink down like the 2015 Platinum coin and others have. then we can return to Starter's thread for the rest of the small coins.:beer:
 

southfork

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#21
I started this thread (even though the coin was mentioned in Starter's thread which I noted in my initial post) as it was done before for other Mint coin offerings. Although this is probably the smallest (1/10) to garner such attention. Also it is true that when a coin is discussed in a blanket thread (small gold coins), after a few pages it gets lost.

Interest in this coin will die shortly and it will sink down like the 2015 Platinum coin and others have. then we can return to Starter's thread for the rest of the small coins.:beer:

This will go the way of the Kennedy gold coin and anyone holding will lose their butts.
 

Dude

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#23
Exactly how I see it going.
It a collector coin commemorating a series of collectible coins. If you find one for $20 under issue price in a year, it won't be a pretty one. 2 of my remaining 6 will go on eBay Saturday night. I'll probably end up with the best 4 of 20 and cash in my pocket.
 

the_shootist

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#24
It a collector coin commemorating a series of collectible coins. If you find one for $20 under issue price in a year, it won't be a pretty one. 2 of my remaining 6 will go on eBay Saturday night. I'll probably end up with the best 4 of 20 and cash in my pocket.
That's great! I always buy as close to melt as I can. These days paying collector premiums is a huge risk! One I don't feel comfortable taking
 

earplugs

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#25
does anyone feel they have to include these modern remakes to fulfill their classic coins collection? I don't think classic merc dime collectors will find a need to have the this new merc gold dime, and that seems to me where longlasting collector basis will come through. Jmho
 

Irons

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#26
does anyone feel they have to include these modern remakes to fulfill their classic coins collection? I don't think classic merc dime collectors will find a need to have the this new merc gold dime, and that seems to me where longlasting collector basis will come through. Jmho
Hard to say how popular they will be with collectors. That said I do know people loved our old coins before they were all covered with dead presidents. The US had some world class beautiful coins back in the day.
Many of the ones I find metal detecting are so circulated the dates are worn right off.
 

Dude

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#27
They are tiny but awesome. The packaging is pretty amazing as well. I am going to keep the best 4 of the 20. The other 16 are sold. HCN is hawking MS-70's for $500.
 

the_shootist

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#28
Being a stacker and not a collector per se I considered buying one then rejected the idea as the premium is too high. I've only paid any type of excessive premium on some pre-1933 coins only because I think the historical value is cool. 90% of my holding in metals are as close to or below melt as possible when I buy
 

Dude

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#29
Being a stacker and not a collector per se I considered buying one then rejected the idea as the premium is too high. I've only paid any type of excessive premium on some pre-1933 coins only because I think the historical value is cool. 90% of my holding in metals are as close to or below melt as possible when I buy
I am like you with a minor caveat. If I can take a purchase, whether a US Mint offering or a collection where I can sell off most, make a profit and still keep "overpriced" gold or silver, I will. I don't ignore the coin market and I'm not building a collection strictly as a hobby. I purchase and keep what I like with the intention of seeing appreciation. It's a different bucket in case the metals market retraces back to 2005 values.
 

MrLucky

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#30
Look out below.....prices are dropping. That should make Starter happy. :mailboxhappy:

As more coins become available the asking price (raw+ogp) continues to drop.

The lowest I've seen so far is $233 + shipping. Not much higher than the original price of $205 + $4.95 for basic shipping.

Another Kennedy in the making.
 

Starter

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#31
Look out below.....prices are dropping. That should make Starter happy. :mailboxhappy:

As more coins become available the asking price (raw+ogp) continues to drop.

The lowest I've seen so far is $233 + shipping. Not much higher than the original price of $205 + $4.95 for basic shipping.

Another Kennedy in the making.

I'll be looking at the price!

Of course, if the price indeed moves lower, there will be no reason to hurry. At that point, budget considerations will be the main priority!
 

itsamess

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#32
They are still going on the bay for $270+. Beside the finned error are now going for $480. Strange that this coin would have so many errors, but I guess its only $200 so mint quality control maybe less than normal for AU coins
 

birddog

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#33
You have more info on the finned error? First I've heard of an error coin....
 

Starter

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#35
Every once in a while, a coin dealer gets burned by buying too many of one type of coin. Their inventory gets flooded with the same type of coin, and when the dealer needs money, it is forced to sell those coins, often at a loss. I have seen it happen on eBay with two different dealers, each with a different type of coin.

I think I have found one more case where this is on the verge of happening...

http://www.ebay.com/sch/Modern-Gold-1984-Now/179534/i.html?_nkw=&_udlo=&_udhi=&_ftrt=901&_ftrv=1&_sabdlo=&_sabdhi=&_samilow=&_samihi=&_sadis=15&_stpos=30092&_fss=1&_fsradio=&LH_SpecificSeller=1&_saslop=1&_sasl=texasgse&_sop=12&_dmd=1&_ipg=50

I did a search on eBay for US modern gold sold by the dealer called texasgse. This category covers all kinds of modern gold minted in the US starting from the year 1984. As of today, most of the listings here are for the centennial gold mercury dime, and almost all of them are graded SP70. The winning bids have recently ranged from 240 to 255.
 
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birddog

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#36
I think its crazy that they go from a count of 10 per household down to 1. At least let me get two..... Geez.....
 

CrimsonGuardJay

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#37
Every once in a while, a coin dealer gets burned by buying too many of one type of coin. Their inventory gets flooded with the same type of coin, and when the dealer needs money, it is forced to sell those coins, often at a loss. I have seen it happen on eBay with two different dealers, each with a different type of coin.

I think I have found one more case where this is on the verge of happening...

http://www.ebay.com/sch/Modern-Gold-1984-Now/179534/i.html?_nkw=&_udlo=&_udhi=&_ftrt=901&_ftrv=1&_sabdlo=&_sabdhi=&_samilow=&_samihi=&_sadis=15&_stpos=30092&_fss=1&_fsradio=&LH_SpecificSeller=1&_saslop=1&_sasl=texasgse&_sop=12&_dmd=1&_ipg=50

I did a search on eBay for US modern gold sold by the dealer called texasgse. This category covers all kinds of modern gold minted in the US starting from the year 1984. As of today, most of the listings here are for the centennial gold mercury dime, and almost all of them are graded SP70. The winning bids have recently ranged from 240 to 255.

You are correct, sir. He has a shitload of stuff for sale, but among those, quite a few of those perfect graded 2016 dimes.
 

farscott

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#38
I was able to get one of these in a PCGS SP-70 ER slab for $255 delivered. Since I collect "Winged Liberty" dimes, the premium does not bother me too much.
 

southfork

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#40
Mints bat shit crazy with their pricing, they would make a lot more if they had fairer prices, Canadian mint is nuts with their prices also.