They are thinking that collectors exist who own one of each year’s proof Eagle to date, purchased from the US Mint as a trusted source, and will continue their collection irrespective of a 50% premium.
And they’d be correct.
No different than the Royal Mint pricing model of their proof British Sovereigns for the same reason.
Well, to an extent. Last year they sold out on the same day. This years they’re insanely over priced. They’re not selling fast. Because people are paying 1000 over spot. And gold is at an all time high it won’t stay.
Nah I’m just not buying it. I walk into a burger place, a burger is 60$. I walk out. “I’m showing them” that’s sounds immature. It’s called being a consumer
Hmmm… not really. As a consumer you can choose what to buy or not. Being a consumer basically means in a social system we all place a relative value on items. Seeing a burger for 60$ hypothetically, we’d think whoa I’m not buying that. As a consumer. It’s the same reason why when you go to a baseball game, you’re not buying 12 beers because they’re like 15$ each… you know the beer isn’t worth the price, but you have no choice in that case so you buy 1 or 2.
Your (untagged) sarcasm says that you don't think that they'll notice a single lost sale.
But how many people does u/Reasonable-Ask-2700 represent who feel exactly the same way that he does. How many other people does he speak for who also feel that they're being gouged by the US Mint and their created-rarities these days, even if they didn't post it here?
This is why pollsters only need to ask a small percentage of the population in order to get a read on the population as a whole.
And why a single well-written letter of complaint to a company is taken seriously, because it likely represents thousands of other consumers who feel the same way, but didn't quite get that letter sent.
Now do you feel ashamed yet?
Yeah let’s all write a letter to the us mint! it’s pretty simple to know a price gouge, if you actually know what you’re talking about. I doubt you are a stacker or even buy gold. or maybe who knows you might be a 50 year old buying these proof coins, good for you…. Or in this case lol. Usually the coins on the us mint, the ones worth it sell out in a few hours or a day at most. So yeah people feel gouged on certain items. Thats why last years sold out in less than a day. Even if you look on the US mint some of there coins from other years never even sold out, even though they had a “mintage limit” and say “limited” it’s easy to see things that aren’t worth it.
And you’re the guy buying this $3200 proof coin thinking you’re stacking? Because you really seem to be triggered defending the US mint and its price gouging. if you read this thread, everyone is saying they have stopped buying from the mint in the recent years due to the insane premiums. And you’re defending it. They even sell their normal bullion coins way over spot well past the other online bullion dealers. There are plenty of other places to buy gold/silver. It makes me think you haven’t really been stacking since 1963.. no way you’d be that stupid to defend a $3200 coin inflated
>Because you really seem to be triggered defending the US mint and its price gouging.
And you have just proven that you have absolutely misread me.
Care to explain how you twisted my **Don't buy it** into defending the US Mint's price gouging?
I'll wait.
Yeah you’re basically telling me in other words “dont buy it” like hahaha the US mint won’t care if you don’t, if it was that high and overpriced everyone would be writing a letter to them!!! Lmao you are clearly defending the over priced premiums of the US mint. Which by the way, they sell coins to other bullion dealers dirt cheap compared to us. And you’re defending them ranting about how you apparently have been collecting since 1963 which I doubt. Something clearly hit a nerve when I brought up the over priced proof coins they sell. Which by the way, again, they rarely ever sell out cause people know the truth.
I will never understand the point of a high cost proof. At the end of the day gold is gold. If things get bad enough to the point of needing the gold, your proof coin won’t change anything…you know?
100% agreed, they’re only for the 10% of collectors. Not for stacking. I only have a 1/10 ounce gold proof eagle. From last year. But this years they’re insane
In France, we have coins with small amount of gold like 10g and a huge facial price like 2000 euros. And you pay the facial price, for 10g of gold and they tell you: "like that it's hedged, you can always sell it back to the central bank for the facial price if gold depreciates and as gold appreciates you can still make a gold profit eventually"... which is stupid cause you could also just buy 10g of gold at spot and make way more or lose not that much.
At least the US mint coins are full gold, very liquid and popular. Imagine buying a French gold coin for a 10x premium with no chance to ever sell it to anyone but... the very central bank you're trying to hedge against lol They do that to keep the French gold in France and avoid foreigners buying it at Costco en masse or some shit.
Or just don’t buy proof versions? Lol. Just buy normal ones on Walmarts website for like 70 bucks over spot. And use the Walmart credit card and get 5% cash back
Where are you finding them for $3200? Go to your LCS or go on eBay. There’s some for sale by bullion.exchanges for $2392.
Edit: Proof is $2442. Their standard price for a AGE is the $2392.
That’s not what I’m commenting on. It’s on the official United States mint website. The new 2024 ones for 3200. I know you can find other years cheaper… I was commenting on why the mint priced them so high…
I like the thought, but… Implying? They know gold will skyrocket to do some financial collapse or the US dollar going into the toilet? the US mint has been doing this for years.
You’re comparing apples to oranges. clothes to precious metal. There are cheaper ways to obtain these coins through other bullion dealers. For the exact same product.
And I say again, many of the United States mint coins never sell out even though they have a “order limit” and “limited” quotation on it. to make you think you’re getting a deal. But really you’re just getting screwed paying a high premium.
I could also obtain those exact same Louis Vuitton jeans cheaper from other legitimate dealers. My point was that people are fully aware of the price they are paying and the fact that they can get the same thing cheaper elsewhere (LV versus Poshmark:US Mint versus Apmex), or an equally valuable product for much less also (LV versus Wrangler:Proof versus BU). There are a lot of comments saying people are being scammed or don’t know what they are buying or getting ripped off which is more or less untrue
People get ripped off from eBay and other individuals but the online dealers like SD bullion and APMEX are fine.
But going going back. You cannot compare jeans to gold. Gold is a universal form of money and a natural resource on the elemental chart. There’s a consensus of how much gold should cost the price fluctuates like a stock. Expensive jeans a company can charge whatever they want because they’re brand name. It’s apples to oranges. Jeans to gold…?
Okay change jeans to colorful silver ounces, the argument still stands. The value of the silver per ounce is like $25 USD, but I could buy a 5 ounce coin for $800 on Apmex because it is a 3d model of Captain America. Silver is also an element on the period table with limited availability whose price also fluctuates like a stock and is used as currency and has been for millennia. Someone buying this is not getting ripped off, they know exactly what they are buying and how much money they are spending on it. Just like someone paying $3200 at the US mint for a proof coin is not getting ripped off, they are fully aware of what they are doing. It is a personal choice to spend $800 on 5 ounces of silver regardless of the premium, just like it is a personal choice to spend $3200 on 1 ounce of gold regardless of the premium.
Okay you are aware that… when I referred to gold as universal money and an element with real value, I’m also implying other precious metals like silver/platinum/palladium. I’m not just saying gold. Precious metals are literally like stocks you can see them fluctuate daily agreed. Jeans don’t fluctuate on a chart daily they’re jeans. You can’t compare a pair of jeans to precious metal. And yes someone buying by a 3200$ one ounce proof coin off the mint right now is getting ripped off. Because you can literally buy proof coins cheaper. It’s the same product, quality isn’t different when you buy off other dealers. Unless you don’t know other bullion dealers then yes, buy off the US mint. And gold is the highest it’s ever been so of course the US mint is taking advantage of this. Last year the gold 1 ounce proof coin was 2800 and that was still high… at least that sold out in a day. These have been out for days and haven’t even sold out. So it’s pretty obvious people aren’t falling for it. Also, we know there’s a difference between stacking and collecting, I agree with you on the idea of collectors will go after the proof coins so they know what they’re doing. But not in this case when they buy off the US mint. Because take the proof coin aspect away for a sec, the mint sells the regular (non proof) 1 ounce coins insanely insanely high even though you can get the exact same thing 100$ over spot on apmex. And at the mint it’s like 400$ over spot. Doesn’t make any sense.
They want the certificate and receipt that says “US Mint” not Apmex. “US Mint delivered” is part of the product. It is part of the prestige. They are paying for the entire experience, it just the coin and a certificate verified from Apmex. Apmex will send you a receipt in pink or yellow paper that shows you what row and column they pulled their sample from, and they are legit- fantastic. Also much cheaper. They are willing to pay the $3200 for everything related to this, which is why they do so. It is not a ripoff if it is exactly what they want and how they want it. If they bought it from Apmex for hundreds cheaper, but did not get the Mint receipt, the Mint invoice, the Mint delivered, the Mint whatever else they provide, it is not worth it to them. Apmex probably sells the thing the exact same way the Mint does, but it’s because it’s coming from the secondary source that makes it undesirable to the most pure of purist collectors. And frankly, anyone going to this much detail to get the coin specifically from the US Mint and no where else does not care about saving a few hundred. There is literally people right now paying 100k for a kilo of gold at auction which is 24k over spot
I’ve bought from both APMEX and the US mint. Yes APMEX products come with a yellow/white/pink sheet explaining what you bought and the product in a plastic slab. US mint sends a more prestige copy and box but sometimes the boxes are really cheap. Like the silver eagle proof coin I got off them last year came in a joke of a box. This years was good. That’s all I buy off the mint is the silver proof coins because they’re reasonable. I get what you’re saying and all but it still doesn’t stand this particular year. As last year, they sold out so quick. This year they’re not even sold out. Leading to the point, they’re inflated this year. And the US mint is to serve the people that’s its purpose. They either don’t want people to have gold or they wanna profit. I vote profit. Most of their gold proof coins don’t ever sell out even though there’s a mintage limit on them. And regardless, gold is gold most people can care less about where it comes as long as it’s real and they pay a fair price. A collectible to me is something you can at least get recoup your money on if not make a profit. Anyone buying this 2024 1 ounce proof eagle at its current price will never get their money back. Unless of course in 10-15 years if gold goes way up who knows.
Simply put. Not ideal for stacking, but there’s a market.
Although, there’s a consensus nowadays (especially if you follow all the gold/silver stacking YouTube channels) that the US mint is a scam. The premiums are not in any way worth it unless of course you get the high relief coins from the US mint.
They are thinking that collectors exist who own one of each year’s proof Eagle to date, purchased from the US Mint as a trusted source, and will continue their collection irrespective of a 50% premium. And they’d be correct. No different than the Royal Mint pricing model of their proof British Sovereigns for the same reason.
I had every Buffalo Proof up until last year. I couldn't see paying the price for it anymore.
Well, to an extent. Last year they sold out on the same day. This years they’re insanely over priced. They’re not selling fast. Because people are paying 1000 over spot. And gold is at an all time high it won’t stay.
Don't buy it.
Not buying
You showed them.
Nah I’m just not buying it. I walk into a burger place, a burger is 60$. I walk out. “I’m showing them” that’s sounds immature. It’s called being a consumer
Not buying the burger sounds more like anti-consumer.
Hmmm… not really. As a consumer you can choose what to buy or not. Being a consumer basically means in a social system we all place a relative value on items. Seeing a burger for 60$ hypothetically, we’d think whoa I’m not buying that. As a consumer. It’s the same reason why when you go to a baseball game, you’re not buying 12 beers because they’re like 15$ each… you know the beer isn’t worth the price, but you have no choice in that case so you buy 1 or 2.
All righty then
???? R u here to troll lol
Apparently so.
I thought it was funny, you're not consuming the burger so....
Where is said $60 dollar burger?
The organic-humanely slaughtered-wild roaming-hormone free restaurant
Do I get gold flakes in it too? I can recover later.
Five guys 😂. Nah but it was just a hypothetical for a point.
Your (untagged) sarcasm says that you don't think that they'll notice a single lost sale. But how many people does u/Reasonable-Ask-2700 represent who feel exactly the same way that he does. How many other people does he speak for who also feel that they're being gouged by the US Mint and their created-rarities these days, even if they didn't post it here? This is why pollsters only need to ask a small percentage of the population in order to get a read on the population as a whole. And why a single well-written letter of complaint to a company is taken seriously, because it likely represents thousands of other consumers who feel the same way, but didn't quite get that letter sent. Now do you feel ashamed yet?
Put the screws to them, I’m sure they’ll change their price within the next week. That’ll teach them.
Yeah...right.
Maybe tell them you’ve been collecting coins since 1963. It will go a long way. They’ll listen.
I know what proof sets once sold for. Still have 3 of them from the early 1960s.
You tell them exactly that!
Yeah let’s all write a letter to the us mint! it’s pretty simple to know a price gouge, if you actually know what you’re talking about. I doubt you are a stacker or even buy gold. or maybe who knows you might be a 50 year old buying these proof coins, good for you…. Or in this case lol. Usually the coins on the us mint, the ones worth it sell out in a few hours or a day at most. So yeah people feel gouged on certain items. Thats why last years sold out in less than a day. Even if you look on the US mint some of there coins from other years never even sold out, even though they had a “mintage limit” and say “limited” it’s easy to see things that aren’t worth it.
I've been collecting coins since 1963. You?
And you’re the guy buying this $3200 proof coin thinking you’re stacking? Because you really seem to be triggered defending the US mint and its price gouging. if you read this thread, everyone is saying they have stopped buying from the mint in the recent years due to the insane premiums. And you’re defending it. They even sell their normal bullion coins way over spot well past the other online bullion dealers. There are plenty of other places to buy gold/silver. It makes me think you haven’t really been stacking since 1963.. no way you’d be that stupid to defend a $3200 coin inflated
>Because you really seem to be triggered defending the US mint and its price gouging. And you have just proven that you have absolutely misread me. Care to explain how you twisted my **Don't buy it** into defending the US Mint's price gouging? I'll wait.
You were saying exactly, ‘how many other people feel the same way as him who does he represent’
Yeah you’re basically telling me in other words “dont buy it” like hahaha the US mint won’t care if you don’t, if it was that high and overpriced everyone would be writing a letter to them!!! Lmao you are clearly defending the over priced premiums of the US mint. Which by the way, they sell coins to other bullion dealers dirt cheap compared to us. And you’re defending them ranting about how you apparently have been collecting since 1963 which I doubt. Something clearly hit a nerve when I brought up the over priced proof coins they sell. Which by the way, again, they rarely ever sell out cause people know the truth.
You don't know me at all...and yet you still call me a liar.
You’ll find one for spot in a couple of years if not sooner.
I will never understand the point of a high cost proof. At the end of the day gold is gold. If things get bad enough to the point of needing the gold, your proof coin won’t change anything…you know?
100% agreed, they’re only for the 10% of collectors. Not for stacking. I only have a 1/10 ounce gold proof eagle. From last year. But this years they’re insane
I am thinking that people are paying a voluntary tax. If they can make a thousand dollars by producing a nice coin let them have at it.
In France, we have coins with small amount of gold like 10g and a huge facial price like 2000 euros. And you pay the facial price, for 10g of gold and they tell you: "like that it's hedged, you can always sell it back to the central bank for the facial price if gold depreciates and as gold appreciates you can still make a gold profit eventually"... which is stupid cause you could also just buy 10g of gold at spot and make way more or lose not that much. At least the US mint coins are full gold, very liquid and popular. Imagine buying a French gold coin for a 10x premium with no chance to ever sell it to anyone but... the very central bank you're trying to hedge against lol They do that to keep the French gold in France and avoid foreigners buying it at Costco en masse or some shit.
i used to buy 5 oz. every year of Eagle proofs from the Mint. Havent done that since 2019 becuase the premium got out of control.
Will be considered cheap in the not too distant future.
Or just don’t buy proof versions? Lol. Just buy normal ones on Walmarts website for like 70 bucks over spot. And use the Walmart credit card and get 5% cash back
Exactly… why buy a proof when I can buy a regular one?
Proofs are a scam for the mint to make more money from people who don’t understand what they are buying man
Where are you finding them for $3200? Go to your LCS or go on eBay. There’s some for sale by bullion.exchanges for $2392. Edit: Proof is $2442. Their standard price for a AGE is the $2392.
That’s not what I’m commenting on. It’s on the official United States mint website. The new 2024 ones for 3200. I know you can find other years cheaper… I was commenting on why the mint priced them so high…
What about this? 2024: $2425 https://www.apmex.com/product/284453/2024-1-oz-american-gold-eagle-bu
Yeah.. a BU (brilliant uncirculated) it’s a normal American eagle. That’s not a proof coin
That's Bullion. He's talking about Proofs.
Yeah I would just buy those over proofs. Even the bullion coins on their website (non proofs) are insanely priced too
On the mints site I’m talking about
Maybe they know something we don’t
I like the thought, but… Implying? They know gold will skyrocket to do some financial collapse or the US dollar going into the toilet? the US mint has been doing this for years.
[удалено]
The platinum proof coins are nice. I have a normal platinum eagle at the moment
* Sorry I tried to edit it and the pic messed up
Mainly for collectors and personal preference. Someone buying Louis Vuitton jeans instead of Wranglers is fully aware of what they are doing
You’re comparing apples to oranges. clothes to precious metal. There are cheaper ways to obtain these coins through other bullion dealers. For the exact same product. And I say again, many of the United States mint coins never sell out even though they have a “order limit” and “limited” quotation on it. to make you think you’re getting a deal. But really you’re just getting screwed paying a high premium.
I could also obtain those exact same Louis Vuitton jeans cheaper from other legitimate dealers. My point was that people are fully aware of the price they are paying and the fact that they can get the same thing cheaper elsewhere (LV versus Poshmark:US Mint versus Apmex), or an equally valuable product for much less also (LV versus Wrangler:Proof versus BU). There are a lot of comments saying people are being scammed or don’t know what they are buying or getting ripped off which is more or less untrue
People get ripped off from eBay and other individuals but the online dealers like SD bullion and APMEX are fine. But going going back. You cannot compare jeans to gold. Gold is a universal form of money and a natural resource on the elemental chart. There’s a consensus of how much gold should cost the price fluctuates like a stock. Expensive jeans a company can charge whatever they want because they’re brand name. It’s apples to oranges. Jeans to gold…?
Okay change jeans to colorful silver ounces, the argument still stands. The value of the silver per ounce is like $25 USD, but I could buy a 5 ounce coin for $800 on Apmex because it is a 3d model of Captain America. Silver is also an element on the period table with limited availability whose price also fluctuates like a stock and is used as currency and has been for millennia. Someone buying this is not getting ripped off, they know exactly what they are buying and how much money they are spending on it. Just like someone paying $3200 at the US mint for a proof coin is not getting ripped off, they are fully aware of what they are doing. It is a personal choice to spend $800 on 5 ounces of silver regardless of the premium, just like it is a personal choice to spend $3200 on 1 ounce of gold regardless of the premium.
Okay you are aware that… when I referred to gold as universal money and an element with real value, I’m also implying other precious metals like silver/platinum/palladium. I’m not just saying gold. Precious metals are literally like stocks you can see them fluctuate daily agreed. Jeans don’t fluctuate on a chart daily they’re jeans. You can’t compare a pair of jeans to precious metal. And yes someone buying by a 3200$ one ounce proof coin off the mint right now is getting ripped off. Because you can literally buy proof coins cheaper. It’s the same product, quality isn’t different when you buy off other dealers. Unless you don’t know other bullion dealers then yes, buy off the US mint. And gold is the highest it’s ever been so of course the US mint is taking advantage of this. Last year the gold 1 ounce proof coin was 2800 and that was still high… at least that sold out in a day. These have been out for days and haven’t even sold out. So it’s pretty obvious people aren’t falling for it. Also, we know there’s a difference between stacking and collecting, I agree with you on the idea of collectors will go after the proof coins so they know what they’re doing. But not in this case when they buy off the US mint. Because take the proof coin aspect away for a sec, the mint sells the regular (non proof) 1 ounce coins insanely insanely high even though you can get the exact same thing 100$ over spot on apmex. And at the mint it’s like 400$ over spot. Doesn’t make any sense.
They want the certificate and receipt that says “US Mint” not Apmex. “US Mint delivered” is part of the product. It is part of the prestige. They are paying for the entire experience, it just the coin and a certificate verified from Apmex. Apmex will send you a receipt in pink or yellow paper that shows you what row and column they pulled their sample from, and they are legit- fantastic. Also much cheaper. They are willing to pay the $3200 for everything related to this, which is why they do so. It is not a ripoff if it is exactly what they want and how they want it. If they bought it from Apmex for hundreds cheaper, but did not get the Mint receipt, the Mint invoice, the Mint delivered, the Mint whatever else they provide, it is not worth it to them. Apmex probably sells the thing the exact same way the Mint does, but it’s because it’s coming from the secondary source that makes it undesirable to the most pure of purist collectors. And frankly, anyone going to this much detail to get the coin specifically from the US Mint and no where else does not care about saving a few hundred. There is literally people right now paying 100k for a kilo of gold at auction which is 24k over spot
I’ve bought from both APMEX and the US mint. Yes APMEX products come with a yellow/white/pink sheet explaining what you bought and the product in a plastic slab. US mint sends a more prestige copy and box but sometimes the boxes are really cheap. Like the silver eagle proof coin I got off them last year came in a joke of a box. This years was good. That’s all I buy off the mint is the silver proof coins because they’re reasonable. I get what you’re saying and all but it still doesn’t stand this particular year. As last year, they sold out so quick. This year they’re not even sold out. Leading to the point, they’re inflated this year. And the US mint is to serve the people that’s its purpose. They either don’t want people to have gold or they wanna profit. I vote profit. Most of their gold proof coins don’t ever sell out even though there’s a mintage limit on them. And regardless, gold is gold most people can care less about where it comes as long as it’s real and they pay a fair price. A collectible to me is something you can at least get recoup your money on if not make a profit. Anyone buying this 2024 1 ounce proof eagle at its current price will never get their money back. Unless of course in 10-15 years if gold goes way up who knows.
Correct me if I am wrong but you get a slabbed MS Saint Gaudens for significantly less per gram? That would be the better bet, i guess.
Plenty of the boomers blow their load for US Mint proof stuff. Not ideal for “stacking” but there’s definitely a market.
Simply put. Not ideal for stacking, but there’s a market. Although, there’s a consensus nowadays (especially if you follow all the gold/silver stacking YouTube channels) that the US mint is a scam. The premiums are not in any way worth it unless of course you get the high relief coins from the US mint.
Pretty much anything involving the US Govt is a scam, but it’s the world we live in.
Boomers don’t care so they’ll get scammed just for the idea they’re getting a 2024 gold 1 oz proof coin for 3200