Comments on: Yellowstone National Park Silver Coin Sales Top $5.1M on First Day

By: Templeton

Templeton — Thu, 02 Jun 2011 04:41:00 +0000

Mint is showing Yellowstone coin as sold out. A little over 2 weeks to sell out. They don’t have a waiting list either. Next one available on June 9th. If a person collects all 55 of them, they will end up with 275 oz of silver. That is a nice little pile of silver. It will be interesting to see what the price of silver will be in another 10 years.

By: Templeton

Templeton — Fri, 27 May 2011 14:30:26 +0000

Almost 25,000 gone by Sunday. Next one available June 9th.

By: jim

jim — Tue, 24 May 2011 13:33:25 +0000

You’re sure it’s not just in the plastic? You might want to return it and ask for a replacement it since they’re not sold out yet (but hurry). You’re lucky you got an early delivery so you can try anyway. Or buy in the secondary market where you can tell if it’s flawed or not before buying.
It’s a new size and new equipment so maybe there will be some mistakes. They do happen even with the circulating coins on occasion. Still not acceptable, I know.

By: rob

rob — Mon, 23 May 2011 23:47:16 +0000

Just got my coin today. Has a line or scratch going across the word STONE. my hot springs had the wave effect on the SPRINGS. So much for quality on these collector coins.

By: Templeton

Templeton — Mon, 23 May 2011 15:00:04 +0000

If the price was lower, demand would go up. Then everyone would be fighting to get their order in. A lot of people would be frustrated racing to get their order in. Almost 70% of these sold the first day. Bullion ones can be had cheaper if price is too much.

By: jim

jim — Mon, 23 May 2011 13:43:24 +0000

Huh?
Gold and platinum coins are priced on cost of metal, cost to manufacture and margin. I’m just saying that the same rules should apply to all precious metals including silver and palladium.

By: Templeton

Templeton — Mon, 23 May 2011 03:37:35 +0000

If they raised the prices too high, collectors won’t buy them.
These are selling out at their current prices, so why would they need to lower prices? You say they are rare, but you think they should lower the price?
These aren’t a commodity. If they priced them based on the silver a lot of collectors would be locked out and dealers would have them. The price discourages people buying them just for the silver. Buy the bullion ones if you are worried about the price. $1400 for year is less than the price of 1 gold buffalo coin. Check out what other mints around the world price their silver coins. I don’t care what they do with the other coins. I am just sticking with these. In 2008 the mintages of a lot of coins were low and they sell for a premium. So, if they raised the price and had a lower mintage they would hold their value or appreciate. $55 an oz for a limited minted coin is a reasonable price. I don’t think I am picking on coins. People are buying these coins at the current price with no intention of keeping them and making money off collectors selling them on Ebay. Big coin dealers were offering $50 for people to buy them for them on the first one. Of course they were going to mark them up. As soon as you see one sell for less than the issue price talk to me. If you don’t buy one someone else will. There was a waiting list on the last one. Almost 70% sold on first day. I’m for collectors. Look at bullion ones from last year. Mint sold them chep to dealers and they made a killing on them selling to collectors. That is what happens when price is to cheap. The first one sold out in 2 weeks and there was a waiting list after that. Not that hot of an item? I’m not sure what your idea of a hot item is?
Young collectors can but other coins. There are a lot of coins they can’t buy.
There is a pretty good premium already on the coins you mention. Much higher than the $100 or so on the 5 oz coin. I would imagine the 5 oz coins are more costly to produce than 1 oz gold coins which have $200 – $300 premiums. I think silver will be over $100 someday, so I don’t mind paying $55 an oz for a rare coin. When it is, what do you think people will be paying for the first ones with a mintage of 27,000? Personally, I think they are going to raise the mintages. When you mint fewer coins, the cost of producing is spread over fewer coins.

By: jim

jim — Mon, 23 May 2011 03:03:27 +0000

Really? I mean REALLY? Are you just picking on silver coins or do you think they should set the price of a gold eagle or buffalo to $2000 so collectors can buy them and bullion investors won’t? Platinum eagles to $2500 for the same reason? Why do you think they’re considering palladium? So the coins will be at a lower price so that thousands of collectors won’t be priced out of the market like they are now for the gold and platinum coins.
The 5 oz ATB are selling for over issue because they’re rare coins (first 5 oz coin) with a very small mintage. And yet it took almost 3 weeks to sell out – not that hot an item even for collectors, looking at $1400 for all 5 2010 coins. There aren’t that many (especially young) collectors who have that kind of money available for the next 10 years.

By: Templeton

Templeton — Sun, 22 May 2011 07:29:06 +0000

I don’t think they should change the price based on the price of silver. This way collectors will get the coins. Buy the bullion ones if you want to play the silver market. With a mintage of only 27,000, I don’t see the price of silver being a factor in the long run. They are selling for quite a bit over issue on secondary market. I got an email already that mine is on the way. I can’t wait for the next one.

By: jim

jim — Sat, 21 May 2011 13:57:46 +0000

Your calculations are off for the Yellowstone coin since the actual London fix price for silver on May 17 was $34.28 compared to the reported $36.28. But the point still serves – a $7.29 premium per oz for the Hot Springs coin and a $21.71 premium per oz for the Yellowstone coin. Silver should join gold and platinum in the coin pricing grid as should palladium if the decision is to release a palladium eagle in 2012.