Gold & Silver Forum - "Morgan $100 Union silver proof" advert

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- - "Morgan $100 Union silver proof" advert (http://goldismoney.info/forums/showthread.php?t=76541)

Anty Ep

10-25-2006 03:25 PM

"Morgan $100 Union silver proof" advert

here is an advert I ripped out of Forbes or such like. I wanted to post it here and invite people to evaluate this ad and say whether or not you would buy and if not why not. obviously one oz round of silver is about $12.50 so there would have to be reasons to buy something like this that costs nearly ten times as much.

Quote:

Headline "Discovered Historic Coin Design Americas Lost Masterpiece The $100 union!... now available as fabulous silver proof!"

offered by Omega Collectibles, of New York Mint, tel no is 800 585 9240 x 4313.

Says this was a design found in a sketch by George Morgan: "until recently the world knew nothing of Morgans larger sized and higher denomination $100 Union concept design." $100 union proof struck in pure .999 silver at price of $99.

Has the Smithsonian Institution logo, says a portion of proceeds go to that museum's National Numismatic Collection.

your evaluation please:

Anty Ep

10-25-2006 04:09 PM

Re: "Morgan $100 Union silver proof" advert

Quote:

Originally Posted by skyvike (Post 397362)

It's a method of using hype, perceived future collector value, chance that idiots won't read far enough to realize it was the "sketch" not the coin that was (supposedly) found after all these years, etc. to sell one ounce of silver for ten times the going rate.

Unless you're just in love with the design, can't live with out it, couldn't sleep over the thought of somebody else having one of the "limited editions" when you don't, there is absolutely no good reason to buy one of these.

there is at least one other reason-- the "bigger fool" theory of price, namely, that there's lots of people out there who might buy into this thing and it could possibly be resold for a profit. isnt that right? but I am guessing that the price of a bauble such as this is like other coinage affected by quantity. but the vendor knows what the quantity will be and we dont, which is a bad place to be.

aikitrader

10-25-2006 04:19 PM

Re: "Morgan $100 Union silver proof" advert

Reminds me of a couple other coin schemes.

How about the World Trade Center pop-up coins with silver recovered from the World Trade Center 9/11 disaster. My wife (who know's I collect coins) saw the ad on tv and said "wow..isn't that cool, would you like one of those hunny?"

or

a little bit older was some of the Franklin Mint bullion bars supposedly minted from the last silver from the US Treasury hoard divestiture.

andrey32

10-25-2006 04:32 PM

Re: "Morgan $100 Union silver proof" advert

Would you buy this one for $125?
These are my favorite rounds...
http://cgi.ebay.com/U-S-S-Constituti...QQcmdZViewItem

Big_Rob

10-25-2006 04:49 PM

Re: "Morgan $100 Union silver proof" advert

Quote:

Originally Posted by andrey32 (Post 397404)

Would you buy this one for $125?
These are my favorite rounds...
http://cgi.ebay.com/U-S-S-Constituti...QQcmdZViewItem

$125.00 HOLY CRAP!!!

Ive got 4 of those ill gladly sell to someone for the bargain basement price of $120.00 each with free shipping!!!!

Travis37

10-25-2006 08:31 PM

Re: "Morgan $100 Union silver proof" advert

I'll sell someone two of those 1oz rounds for $100.00 PLUS....I'll throw in a half pound bag of wheat pennies! And you all know, wheat pennies are becoming rare and valuable...I know because our favorite HSN coin groin named Mike says they are. Oh yeah, and apparently, you should buy his collection of 162 westward journey coins for only $167.99 because he'll have to raise the price soon due to its rock bottom price.

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