HSN selling ANACS graded Silver American Eagles already!!!!

Last night (Dec 28) I was watching HSN Coin Collector for the pure entertainment of it and saw our old buddy Mike Mezack, The Coin King, selling 2012 ANACS graded SAEs. Now I understand that they don't have the coins in hand yet. They won't get them from the Mint and then from ANACS for a few days after that. What I am surprised at is this: The labels were being shown and there is a First Day of Issue Slab Limited Edition of 13,329 coins.

This raises several questions, none of which make anyone look particularly good.

1) Did HSN get the coins early in order to have them to air on Dec. 28th? (Probably Not)

2) Did ANACS already receive the coins directly from the Mint? (Probably Not)

3) Does ANACS have a pre-slab agreement with HSN to slab a certain number of 70s and a different number of 69s? (Maybe)

In my world this is business as usual for HSN and doesn't reflect poorly on them. In fact, it makes them appear eager to get the newest merchandise for their customers.

ANACS on the other hand, it does a HUGE disservice to. I don't understand how they can have the coins already because they are not supposed to, but how else can you explain the already published number of FDOI LE slabbed coins that HSN is selling! It's not like they're saying an estimated 13,000 coins, they show the slab (with a sticker over the 2011 coin contained within) and it has an exact number graded.

Somebody is doing something that isn't entirely on the up and up here. There's no way of knowing how many will slab 70 until you have the coins (unless you have an unlimited number of submissions before you stop slabbing them Limited Edition FDOI).

The funny thing is, that they do this every year.

What gives?

Something to consider before you refer to ANACS as a Top Tier TPG ever again.

 

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I hope no one buys one! :foot-mouth:but I am sure someone will!!!

 

I'm guessing that they ordered 13,329 coins, which will all be FDOI.
Some of those will be MS70, some MS69, etc.

 

no, no, no

The 13,329 is the number of MS-70 coins. They have done this the past few years now. There will be a somewhat larger number of MS-69s, etc, but these coins are numbered as a Limited Edition of MS-70s.

 

Well, ANACS doesn't have very high standards. Most of the ASEs they get are likely MS70.

They could buy 14,000 coins and tell them to stop when they hit 13,329 MS70s. Anything that can't be labeled MS70 can be sold raw, and HSN wouldn't lose a dime on them. That's how the big boys do it.

 

I saw part of that show as well. He said that the number of FDOI MS70 (13,329) was less this year than last year because he was only able to obtain 250K to submit. My guess is that they have a deal such that if they submit a certain number on the first day of issue they are guaranteed at least a certain number of 70s. I will be buying my 2012 ASE raw for as close to silver spot as possible. . TC

 

I agree sodude. it clearly shows the standards at ANACS are such that there is a guarantee of large numbers of MS-70 coins. Something anyone should consider before buying as it will have little impact on value over a raw coin in the future even if (and it's a big if) graded bullion ever becomes a collectible.

 

okay, I'll bite.

How much were they charging for these very 'rare' items?

 

so he submits 500 monster boxes to get 250K submissions which yields roughly 6.66% MS-70s, which sounds reasonable.

The only problem is that they have pre-arranged the number because neither of them have the coins yet!

It looks to me to be a purposeful agreement of 13,329 in order to make the population look like it's consistent with the other TPGs. I see that as being deceptive because they are pre-determining the population. Trying to make the pop numbers look legit is like self-slabbing in a way.

 

$99.95 plus you get 4 free ANACS grading submissions and a snappy red oak presentation box. :rollling:

 

What makes you think they don;t have the coins yet?

It seems to me that unless you're one of the "Authorized Purchasers", folks really have no idea when these actually ship from the US Mint much less any idea when they arrive at the AP's for sale to folks such as HSN.

My guess is that the coins have been shipped and have been graded which is where they get the numbers from. I don;t reallt think there's a law in place which says that the US Mint can't ship coins immediately after they're made and packaged. Kinda like the presidential dollars which were shipped to the Banks with the label saying "Do Not Open before xx/xx/xxxx". Banks didn't open them but they sure didn't hesitate in selling them to individuals by the $1,000 box! Those same folks sold the rolls at premiums on line as much as two weeks before the release date.

As for HSN, these folks are a multi-million dollar coin machine which utilizes ANACS to the fullest. ANACS doesn't mind since it's a guaranteed income and the one true fact in the coin business is that the person that makes it to market first, is going to get a lot of business.

I don;t begrudge HSN and I don't begrudge ANACS because its simply the bullion business.

 

I actually got one last year.........

 

the mint does NOT SHIP current year coins untill Jan 2nd or 3rd of that year. some APs do go right to West Point and pick them up thus the 1st day invoice but nobody gets them early. stlll they are a bad investment. MS70 egles were going for about $99 when silver was $6-7 and they still are today.

 

I seen that last night on HSN

 

Never quite understood the rationality of slabbing, let alone paying so much premium for a Bullion...

 

this may or may not be interesting but it does pertain to the subject
this info would seem to imply the eagles have been produced and packaged and are sitting on the shipping dock in a mountain of pallets laden with big green boxes all ready for the chosen few ($$$$$$$$$) to pick up.
---------------------------------------------------------------------------------------
By Frank Tang
NEW YORK | Wed Dec 28, 2011 3:10pm EST

(Reuters) - The United States Mint said on Wednesday it has enough American Eagle gold and silver bullion coins to meet demand and does not expect to allocate them in early 2012.
Sales of the U.S. gold and silver bullion coins have slowed in the fourth quarter as precious metals prices retreated from record highs, bucking a trend earlier this year when investors flocked to physical gold and silver as safe havens.
"As we plan on having sufficient quantities of all coins available, we do not anticipate having to allocate the initial release," U.S. Mint spokesman Michael White said in a note.
The Mint had allocated its sales of gold and silver Eagle bullion coins to its authorized dealers in the last several years as unprecedented demand and a lack of coin blanks led to depletion of its supplies.
White said on Wednesday the Mint's recent supply was adequate to meet demand and allocation to dealers was no longer necessary.
Silver Eagles December sales were around 2 million ounces, sharply below its record of 6.4 million ounces set in January -- the highest monthly sales since the start of the American Eagle bullion coins in 1986.
Gold Eagles sales were at 65,000 ounces, about 20 percent below its monthly average this year, the Mint's data shows.
Bullion coins are mostly sold to investors, while the Mint also produces proof and uncirculated coins targeting collectors


28 December 2011, 1:26 p.m.
By Kitco News
http://www.kitco.com/
(Kitco News) - The US mint says that they will begin accepting orders for 2012 dated one ounce, half-ounce, quarter-ounce and tenth-ounce American Eagle gold and silver coins beginning Jan 3, 2012. All sized gold Eagle inventory left over from 2011 will be sold at discounted premiums to authorized purchasers, except for tenth-ounce coins which will be distributed by a 4:1 ratio when ordering 2012-dated coins, also to authorized purchasers. One ounce silver Eagles will only be distributed by 4:1 ratio, the mint says. Pick-ups for any coins ordered on Jan 3 can only be picked up Jan 6, the mint says. The mint says the American Buffalo one ounce gold coin will only be available in March.

 

BTW, while Im usually the one making snide remarks about the big slab companies,
I have to laugh at the way a couple of you guys are sniping at ANACS, implying that
they are showing themselves to be far inferior to the other slabbers.
Maybe its because you are sensitive about the grossly inflated pricess
you have paid for your big name slabs?
It seems to me HSN has sold FAR FAR more NGC and PCGS slabs than ANAC.
Look at the percentage of slabbed ebay bullion coins that are Anacs compared to PCGS or NGC
Id say thats a good indication of the ratio of whats already been sold to the public.
NGC and PCGS have to be the undisputed kings of overpriced TV bullion slabs

 

Shades of when I first started collecting these things and I used to watch a fat guy on the Coin Vault.......

And they got a fat guy on HSN too......

 

it's also at http://www.hsn.com/todays-special_xh.aspx