Coin and Medal Related Bills Enacted by the 113th Congress

legislationMany aspects of how the United States Mint operates and the coins that they are allowed to produce are dictated by specific laws enacted by Congress. As such, tracking coin and medal related bills introduced and enacted by Congress can provide collectors with a glimpse of things to come.

The 113th United States Congress convened on January 3, 2013 and ended on January 3, 2015. During this time, there were two bills enacted to authorize future commemorative coin programs and nine bills enacted to authorize the award of Congressional Gold Medals.

This post will recap all of the enacted bills. Throughout the year, you can visit Coin Update for the all of the latest news on coin and medal related bills introduced or acted upon by Congress.

Commemorative Coin Programs Authorized Under the 113th Congress

World War I American Veterans Centennial Commemorative Coins
Public Law 113-212

Commemorative coins will be issued in 2018 to mark the centennial of World War I. The year 2018 is the 100th anniversary of the signing of the armistice with Germany ending the World War I battlefield hostilities. The program will include up to 350,000 silver dollars with obverse and reverse designs emblematic of America’s involvement in the war. The designs will be selected through a competition judged by an expert jury and chaired by the Secretary of the Treasury.

Surcharges of $10 per silver dollar will be distributable to the United States Foundation for the Commemoration of the World Wars to assist the World War I Centennial Commission in commemorating the centenary of World War I.

National Park Service Centennial Commemorative Coins
Public Law 113-291, Section 3055

A single section of a 697-page law authorized a 2016 commemorative coin program to mark the centennial of the National Park Service. The program will include up to 100,000 $5 gold coins, up to 500,000 silver dollars, and up to 750,000 clad half dollars with designs emblematic of the 100th anniversary of the National Park Service.

Surcharges of $35 per gold coin, $10 per silver dollar, and $5 per half dollar will be distributable to the National Park Foundation for projects and programs that help preserve and protect resources under the stewardship of the National Park Service and promote public enjoyment and appreciation of those resources.

Other Comments

There was one other commemorative coin bill which was almost enacted. The bill H.R. 2866 sought the issuance of commemorative $5 gold coins, silver dollars, and half dollars to mark the centennial of Boys Town in 2017. The bill was passed in the House of Representatives, and then passed in the Senate with changes. The bill was sent back to the House to confirm the changes, but the bill died without any further action.

For those looking ahead, the line up of commemorative coin programs currently authorized for future years include Mark Twain (2016), National Park Centennial (2016), Lions Clubs International Centennial (2017), and World War I Centennial (2018).

There was one coin related bill enacted, which did not deal with a commemorative coin program. This was the Collectible Coin Protection Act (Public Law 113-288), which will serve to broaden the existing Hobby Protection Act by making it unlawful to sell unmarked replica coins.

Congressional Gold Medals Authorized Under the 113th Congress

Congressional Gold Medals are designed and struck by the United States Mint, which will also typically offer bronze duplicate versions of the medals for sale to the public. Some of the medals authorized early within the 113th Congress have already been issued or have had design candidates prepared and released.

16th Street Baptist Church Bombing Victims Medal
Public Law 113-11

The Congressional Gold Medal was authorized to be posthumously awarded to Addie Mae Collins, Denise McNair, Carole Robertson, and Cynthia Wesley to commemorate the lives they lost 50 years ago in the bombing of the Sixteenth Street Baptist Church, which served as a catalyst for the Civil Rights Movement.

This medal was awarded on September 10, 2013, when the US Mint also began selling bronze duplicate versions.

First Special Service Force Medal
Public Law 113-16

The Congressional Gold Medal was authorized to be awarded collectively to the First Special Service Force, also known as the “Devil’s Brigade” in recognition of their dedicated service during World War II. The First Special Service Force was an elite joint American-Canadian commando unit which fought battles during World War II at high altitudes, in rugged terrain, and severe weather.

In March 2014, the US Mint provided 18 different obverse and 21 different reverse design candidates for the medal to the Commission of Fine Arts and Citizens Coinage Advisory Committee for review and recommendation. You can view the recommendations of each group as well as all design candidates here and here.

American Fighter Aces Medal
Public Law 113-105

The Congressional Gold medal was authorized to be awarded collectively to the American Fighter Aces in recognition of their heroic military service and defense of our country’s freedom throughout the history of aviation warfare. An American Fighter Ace is a fighter pilot who served honorably in a United States military service and destroyed five or more confirmed enemy aircraft in aerial combat during a war or conflict in which American armed forces participated.

In October 2014, the US Mint provided 6 different obverse and 9 different reverse design candidates to the CFA and CCAC for review and recommendation. You can view the full slate of design candidates here and the recommendations of each group here and here.

Doolittle Tokyo Raiders Medal
Public Law 113-106

The Congressional Gold Medal was authorized to be awarded to the World War II members of the Doolittle Tokyo Raiders in recognition of their military service during World War II. The Doolittle Raid was an air raid by the United States on the Japanese Home Islands, serving as retaliation for the Japanese attach on Pearl Harbor and demonstrating that Japan was vulnerable to American air attack.

Also in October 2014, the US Mint provided 16 different obverse and 9 different reverse design candidates to the CFA and CCAC for review and comment. The design candidates and recommendations can be seen at the links cited for the American Fighter Aces Medal.

Civil Air Patrol Medal
Public Law 113-108

The Congressional Gold Medal was authorized to be awarded to the World War II members of the Civil Air Patrol in recognition of their humanitarian, combat, and national services provided during a critical time for our nation.

The medal was awarded on December 10, 2014 when the US Mint also began sales of a bronze duplicate versions of the medal.

Shimon Peres Medal
Public Law 113-114

The Congressional Gold Medal was authorized to be awarded to Israeli President Shimon Peres for maintaining strong bilateral relations between Israel and the United States.

The medal was awarded during a ceremony held on June 26, 2014 when the US Mint also began selling bronze duplicate versions of the medal.

Monuments Men Medal
Public Law 113-116

The Congressional Gold Medal was authorized to be awarded to the Monuments Men in recognition of their heroic role in the preservation, protection, and restitution of monuments, works of art, and artifacts of cultural importance during and following World War II.

65th Infantry Regiment Medal
Public Law 113-120

The Congressional Gold Medal was authorized to be awarded to the 65th Infantry Regiment, known as the “Borinqueneers”, in recognition of its pioneering military service, devotion to duty, and many acts of valor in the face of adversity. This Puerto Rican regiment of the United States Army participated in World War I, World War II, the Korean War, the most recent conflicts in Afghanistan and Iraq, and in other overseas contingency operations.

Jack Nicklaus Medal
Public Law 113-210

The Congressional Gold Medal was authorized to be awarded to professional golfer Jack Nicklaus in recognition of his service to the Nation in promoting excellence, good sportsmanship, and philanthropy.

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Comments

  1. Keep Calm & Stack On says

    US Mint Executive Leadership Team – please petition members of Congress in passing that a 50th Anniversary Commemorative program celebrating the Apollo Landing would be a HUGE success and rally some national pride. (and make it ‘domed,’ a 5 oz’er would be out of this world too – thanks!)

  2. fmtransmitter says

    I just did a Google search “coin art” and clicked on images…WOW! Some creative coin bugs out there!

  3. Dave SW FL says

    OT fot the ER FS proof coins
    Mine arrived today #28&27 in the countdown
    If they are not 70s, I don’t know what is
    Then again, I don’t work for HSN

  4. Brian says

    I like to collect some modern commemoratives. So far the $5 gold series has been the most interesting to watch (and some to buy). Some decent releases in the $1 silvers too. Hopefully the artistry will be kept to a high(er) level going forward. I don’t own either of these releases, but I was recently looking at the Jackie Robinson $5 compared to the recent General MacArthur $5.

    http://news.coinupdate.com/wp-content/uploads/2012/11/jackie-robinson.jpg
    http://mintnewsblog.com/wp-content/uploads/2013/03/gold1.jpg

    Jackie was a great ball player, but it seems the mint really botched the quality of his portrait on that 1997 coin. Incidentally, these are the two lowest mintage $5 modern gold commems. So I’m glad to see that it isn’t necessarily only ugliness that may equate to low mintages. I’m hopeful the mint produces a really eye catching portrait of Mark Twain in 2016! Their last attempt (in 1981), was pretty dreadful:
    http://news.coinupdate.com/wp-content/uploads/2011/07/Mark-Twain-Gold-Medallion.jpg

    It’ll be interesting to see what this 114th Congress will enact for future releases.

    Regarding the congressional medals, does anyone collect the “bronze duplicate versions of the medals for sale to the public”? Does anyone know if these have any investment potential whatsoever relative to coin collecting?

  5. Ralph says

    VA Bob : I will never offer a sealed box for sale again. I have sold a few of them and looking back I guess I have been lucky nothing has come back.
    Thank you for the education!

  6. Mark Rex says

    I still haven’t gotten a ship confirmation for my subscription PR ASE as others are starting to recieve theirs. Kind of hoping there is a problem so that it can be canceled so that I can save on shipping costs as I need to by the FDR CC, Dis Set and hopefully more K14s if they come back in stock.

    I have found the 2014 PR ASE PCGS FS PR70 for $90 and was thinking about just getting that instead. I still have ’13 and ’14 in sealed boxes that I had originally planned to send off to be graded eventually. With the cost of shipping, grading and other all-in cost with only a 50% (?) chance of even getting 70 grades I think just buying would be the cheaper route or at most just a few dollars more. What are your guys thoughts on this? As far as the current price – would this be the cheapest time to buy the PR ASE?

  7. Samuel says

    I just received the ER FS coin, checked the shiny wooden box, no finger prints, the coin looks great too. definitely not a returned coin.

  8. says

    Predictably, there are several “centennial” commemoratives in the pipeline for the next few years. The Mint’s centennial staff has obviously been working overtime googling all these celebratory events which can be turned into collector coins.

  9. JBK says

    For those who chase labels you might as well just buy it graded. It is cheaper in most cases. Or, for the same money, buy 2 in OGP from the Mint and enjoy them as is.

  10. says

    Keep Calm,
    In regard to the Mint’s new fascination with centennial events depicted on commemoratives, you may have to wait another 54 years for the Apollo 11 commem. to get its turn. I hope you are a relatively young man.

  11. VaBeachEd says

    Mark Rex,

    Most all of my Modern U.S. Mint coins are In PCGS First Strike 70’s with some NGC 70’s, mostly because of what you were just talking about, plus they hold and increase in price before the ones from the mint. Most of the mint coins keep pace with buillion price over the 70 Graded coins. I know others will not agree with me, but check the book for yourself on coins 5 years old or older. I have a lot in sealed mint boxes, but like some others here I am not so sure about that now that they have changed there way of shipping. I bought 2 of the “Coin Discovery Set” and the mint sealed box was in perfect shape, but they were for gifts, so when I openned the box one was perfect and the other box inside was badly damaged and the 3 coin Kennedy set had one almost torn out of the set. Now you can not be sure. I did buy 2 Gold Kennedy’s, 5-4 coin Silver Kennedy sets and 10 UNC. 2 coin Kennedy sets from the U.S. Mint, but I also bought 2 Gold Kennedys PCGS FS PR70’s Chicago Lable, 2- 4 coin Silver 70 sets containing the MS70PL Enhanced coin and 1-PCGS Chicago SP67 set. It all depends on each person and everyone has their own thoughts on the matter. That is mine.

  12. VaBeachEd says

    Weekly sales Report should read 2015 !!!!!

    Product Sales Change
    2014 AMERICAN EAGLE SILVER PROOF COIN 262,377 262,377

  13. VaBeachEd says

    From “COIN UPDATE”

    Coin Update says
    JANUARY 7, 2015 AT 5:23 PM

    Here is what the US Mint has said about the various statuses:

    Sold Out: When all inventory of products has been depleted, taking into account cancellations and other factors.

    Back Order: When products are in “Back Order” status, this means that the product is available for sale, however there is no inventory in stock and a future ship date is displayed on our website. Products in this status can still be ordered online or by calling Customer Service at 1-800-USA-MINT (872-6468).

    Out Of Stock: Products in “Out of Stock” status with no “Remind Me” button are not available for sale. If product becomes available through additional production or cancelled orders, the product will be made available for purchase again.

    Out of Stock with “Remind Me” button: When products are in an “Out of Stock” status with a “Remind Me” button, there is no inventory currently available, but additional inventory is likely. Products in this status cannot be ordered, but by clicking the “Remind Me” button you can request to be reminded by email when product becomes available.

  14. Bob R says

    @Keep Calm What a wonderful idea, Apollo Landing domed coin, the moon and craters on the domed side, too cool. Make it 1oz gold, 5oz silver….

  15. GoldFishin says

    @Mark Rex

    Mark Rex Says…” With the cost of shipping, grading and other all-in cost with only a 50% (?) chance of even getting 70 grades I think just buying would be the cheaper route or at most just a few dollars more.

    You answered your own question. It is not worth it just to send in a couple of coins to PCGS. I have had pretty good success with them by prescreening coins and only sending in my best with a couple of scrubs so they can get their percentages, but unless you are sending in at least ten or more coins it simply is not worth it in my opinion. There are so many discounted items on Ebay right now I have just been shopping there for my graded coins.
    So far as buying now or later, you can always look at past sales for different calendar years and try to get some kind of idea as to future or past value, but it might depend on the future price of silver as well. So just make your best guesstimate. Good luck!

  16. GoldFishin says

    @KCSO- thought maybe we had lost you and cagcrisp to the investment world. I missed you guys updating the weekly sales numbers. Also, the coins I ordered come with a mint sealed strip on each roll(saw it on another website), so I called the CSR on Monday and asked about it. She didn’t know they came sealed like that, so she checked and sure enough it did. So I asked for my roll to have the seal strip issued by RCM. She added a note to my order. I also bought a couple extras so I could check out the quality. Happy space travels!

  17. Brad says

    VABeachEd,

    So that bodes well for the Eleanor Roosevelt proof coin being sold out, since it’s “out of stock” with no remind me button. It looks like that status is the next best thing to “sold out”, since it means that additional inventory is not likely. So, reading between the lines makes it sound like there were NOT any more 2014 First Spouse coins produced in the final days of last year that are still at West Point.

    Still, I wonder if the Mint will ever get around to changing the status to officially “sold out”, or if they will leave it hanging in “out of stock” limbo.

  18. fmtransmitter says

    My question to Mark Rex is why do you.want to grade a coin you know is a 69 or 70? And then do you feel paying $40 more for the coin to be in a holder is worth it? Do you think you will get any of that extra money back if you wanted to sell or dobyou buy to keep and maybe pass on to others? Too many variables in your comment for myself to issue an opinion…

  19. Dave SW FL says

    OT

    Follow up on ER FS + comment on SAE PF

    As nice as Eleanor coins were, they were rattling around loose in the presentation box. UPS must have been tossing them around a lot.

    My 2015 SAE had dings in the Lady and in the field of reverse. Lucky to grade 68. Nice mirrors though.
    My box was sealed the old fashion way with clear plastic shipping tape. Can’t imagine those could be opened and re closed easily.

  20. VaBeachEd says

    Mar Rex,

    I got the best deal (that I could find) on 2015 ASE 2015 MS70 FS PCGS Flag Label in Pre-Sale for $63.90 each with free shipping on January 2nd and tomorrow they will start Pre-Sale for 2015 Proofs on “Modern Coin Wholesale”

    I do not know the price on the PR70 proof yet, but consider how many you want. If you buy one from the mint it will cost you $48.95 plus $4.95 shipping or $53.90 for one that you may like or may have to return. You are not sure what coin you will receive.

    I always buy one more, than I buy for myself, for my great nephew (11 years old and will not get any gold before 13 years old and shows a great interest with all of the coin books I have giving him).

    All of the others are for my old age and I am not sure if I have already started or if it will start next January when I will be 65????? I guess it is all about health and mindset, I hope.

  21. Ends in Error says

    I’ve paid for “membership” in PCGS for a number of years but have never sent in anything to be slabbed yet. I probably never will so the membership is worthless to me. About 12 years ago I did sell a few coins on ebay but lately have no time for any of that. I might get motivated one day, you never know. Lately I can work 7 days / 12 hrs so I pull in really good money just by going to work. Selling coins on ebay would not do anything for me but lose me money.

  22. VaBeachEd says

    Brad,

    JMHO, but I think it will be changed around the same time the weekly sales report comes out with it “sold out” and maybe a few days before it is on the report.

  23. Keep Calm & Stack On says

    Mark Rex – to dovetail on GF’s top-dead-center input, unless it is a sought after soon to be low mintage coin, I play the seasonal sales. For example, most retailers will run a 4th of July or August summer sale to bleed off excess inventory, that’s a good time to grab a deal on current year issues. November is hunting season too!

    Brian – Collect Commemoratives Cautiously. Remember that, C3. Buy the Comm coin because you support the theme or like the design, and avoid chasing ugly designs with no collector base as you’re most likely better off putting the money into a Russel 2000 ETF than ending up with an ugly coin that you can’t liquidate easily. I started collecting Comms 10 years ago and the ones I want to retain are the ones I like, though most could be had around mint issue presently.
    Bronze medals appreciating? – if it doesn’t have a Mint Mark & made of PM.., it had better have a STRONG cult following… good luck

  24. Keep Calm & Stack On says

    Ends in Error – will you pay me the PCGS membership fee directly, and each year I will send you a real nice shiny slabbed silver coin? Please… 🙂

  25. VaBeachEd says

    Ends in Error,

    If you are not sending in coins to be slabed I do not know why you would keep it. You can always go to PCGS and NGC website and get a Cert Verification for free. They do have a lot of other info, but you could more than likely find it from a google search or ask someone to help on the BLOG. I have a coin dealer a couple of miles from me and he will send them off for me at his cost. Real nice guy.

  26. Ends in Error says

    KC&SO

    Sounds like a winner – for you LOL. I did have the PCGS thing on auto renewal for about 5 years , finally put a stop to that – I think. Keep forgetting about everything until I get hit with another charge. 🙁

    Well I think my Eleanor Roosevelt Proof and the 2015 SAE Proofs are at the PO today but I work and sleep so much I get nothing else done. Im taking tomorrow off work. Got too much stuff that needs attention.

    First order of business – go to Post Office. 😉

  27. VaBeachEd says

    fmtransmitter,

    http://www.ebay.com/itm/2013-W-50-PROOF-1-OZ-GOLD-BUFFALO-PCGS-PR70-FIRST-STRIKE-BUFFALO-LABEL-/201242751824?pt=Coins_US_Individual&hash=item2edb00b350

    http://www.ebay.com/itm/2013-W-1-oz-Proof-Gold-Buffalo-Coin-with-Box-and-Certificate-SKU-74031-/141475243575?pt=US_Bullion_Coins&hash=item20f094e637

    Which would you rather own? I have 4 Graded 70’s just like the first one above. I paid between $1,950.00 up to $1,995.00 each. 2013 1 oz. Proof Buffalo is now the lowest mintage replacing the 2008.

  28. VaBeachEd says

    fmtransmitter,

    I have 2 each of the slabs below that I paid $960.00 each. Check the prices and how few there are for sale.

    http://www.ebay.com/itm/141422655149?_trksid=p2060778.m2749.l2648&ssPageName=STRK%3AMEBIDX%3AIT

    I can only find 3 for sale on ebay at this time. I do not think they will sell for this price below, but that is all I can find.

    http://www.ebay.com/itm/2014-W-10-Gold-Eleanor-Roosevelt-First-Spouse-PCGS-PR70DCAM-First-Strike-/391021162797?pt=Coins_US_Individual&hash=item5b0aad712d

    Apmex,
    2014-W 1/2 oz Proof Gold Eleanor Roosevelt (w/Box & COA)
    Eleanor Roosevelt was born October 11, 1884, in New York City. Mrs. Roosevelt was considered the eyes, ears, and feet for her partially paralyzed husband. She reported directly and in great detail to the President regarding her many trips…. Read More
    Volume Pricing
    Currently Out of Stock
    ALERTME!SM

    When More Come In

  29. VaBeachEd says

    I am trying to show the difference in Top Graded 70 Coins verses U. S. Mint box coins, in lower mintage coins. If people want to buy one from the mint I think that is a good thing, I also buy them from the mint, but if you think you have a few years to wait and collect what you like why not try to get the best graded coins? I have one more example of coins just out in 2014.

    I have 2 graded from Chicago just like below that I averaged $1,664.00 per coin.

    http://www.ebay.com/itm/121531334984?_trksid=p2060778.m2749.l2648&ssPageName=STRK%3AMEBIDX%3AIT

    I also have 2 in the U.S. Mint Sealed box, that I guess I should open, but it has been way past the 7 day return time, so I will leave them in the box.

  30. fmtransmitter says

    @VA Beach Ed: Which would you rather own? All of them but if I had to spend my money, the OGP, why?

  31. Tinto says

    @Ends in Error

    I know the feeling with the PCGS membership thing … I got one in Dec 2013 so that I could get some of minor raw world coins still left from the days I bought them from dealer boxes nearly 30 years ago and some raw morgans bought over ten years ago ….. got the 8 coin voucher but never did submit until it was almost too late and I only salvaged it because PCGS extended the validity by one month if I renewed at the same level for the next 12 months … it is really easy to lose track of unless one is dong submissions on a regular basis. For me I am just starting to prepare for the time when I will have to sell off and nowadays even world coins seem to be more attractive if TPG’d.

  32. VaBeachEd says

    fmtransmitter ,

    It is my money I am spending and I have never sold a coin, yet.. I would never have room for them all and I have two closets full of OGP boxes. I also could never afford them all either.
    My true love to collect are th Gold Liberty Half Eagles. I have the first one in the series 1839 and 1839-C and the last 1908 both Liberty and Indian. My biggest problem is filling in the rest, that I know I will never be able to do, but I do have a few of the CC years also. I started collecting my gold Liberty’s years ago when you could pick up one without breaking the bank. I have a few 1861’s and keep one in my wallet. It is surprising how many people have no idea what our coin history is and anything about using gold coins daily over a hundred years ago. I like to show the 1861, because younger people seem to understand the age more, because of the start of the Civil War. It is awful about how few people know when the war started, or that it ended in 1865……really sad, because our coins also tell our history.

  33. Keep Calm & Stack On says

    GF – the joy of the holidays is over and its back to the grind now (& it’s blue @$$ cold!)…, so the fun is over for a bit. Regarding the fun had with the #’s – I have a bad feeling that we’ll soon look back at 2014 and say, “dang, we were spoiled.., what a coin year!” Having some difficulties getting excited about anything except for a couple of pucks. Good to know about the seal strip, thanks, I have that same issue with the puck rolls not being sealed and was going to look elsewhere for my turkey tube.

  34. A Bob says

    I received my FDR Coin and chronicals set. It is going back this weekend. The silver medal looks nice but the bronze medal looks like it slid across a solid surface so high points were rubbed shiny. Interesting finnish to the bronze medal also. I would call it antiqued but it is not described as such in the specifications. The dollar also has a big spot on FDRs forehead. I will wait a pick one up that I see first. Yuck.

  35. Jon H says

    “US Mint Executive Leadership Team – please petition members of Congress in passing that a 50th Anniversary Commemorative program celebrating the Apollo Landing would be a HUGE success and rally some national pride. (and make it ‘domed,’ a 5 oz’er would be out of this world too – thanks!)”

    Great idea. We can also write our senators and representatives urging them to pass a bill regarding such coins as well!!!

  36. Bob R says

    The 2ea FDR sets were perfect, but maybe I am not as picky as everyone else, no special optics, just my two blind eyes.

  37. Ends in Error says

    My Dad was born in 1917 in Oregon. He grew up in the hills. Anyway when I got my first $10 Indian I showed him and he sez he’d never seen one before. I know he’d seen some gold coin in his lifetime but it seems he didnt see much.

    He once told the story of some relatives having a 50th Wedding Anniversary. Everyone wanted to give them a $50 Gold Coin. None were available at Banks so they bought one from somewhere. Now that would be a Coin to see. Probably some rare slug of some kind.

  38. VaBeachEd says

    Mark Rex,

    I Pre-ordered 3-2015 ASE PR70DCAM FS PCGS Flag Label at 1:15 a.m. this morning from Modern Coin Wholesale. They were $86.95 each, with free shipping. APMEX and Goldmart were over $100.0 each.

  39. Brad says

    Eleanor Roosevelt proof coins 83, 82, 81, 80 and 79 in the countdown arrived yesterday, and they’re all very nice. Definitely not anyone’s rejects.

  40. stephen m says

    VaBeachEd, I checked that site for proof70 2015 ASE’s. None in NGC brown label. Where is the best price for them, anyone?

  41. Keep Calm & Stack On says

    Here we go AGAIN!

    U.S. Mint to Sell US Marshal’s Commemorative Coin Collection at Long Beach Expo, ‏,29-31 January

    cag – we should due a guestimate as to the number of labels we’ll see out from the USM offering…, 19 perhaps?

  42. jeff says

    KCSO There’s nothing special about the coins there plain commerative that’s it. Plain gold,silver,clad label game is over imo. The only thing I will acknowledge is the history of this unit other than that those that choose to play the label game with these will lose . Mintage way,way to high as well the price 3.5 X spot ridiculous. If the mint has one iota of how to market coins they would be dangerous. Lower the price to reasonable they would sell the lot out but at these elevated prices I will go on the record a say not even close to selling out the lot, OK maybe the golds that’s it.

  43. cagcrisp says

    2015 BHOF inductees Inducted First Time on Ballot: Pedro Martinez, Randy “Big Unit” Johnson and John Smoltz.
    Dang. I would like to Start a rotation with these Three…

  44. says

    I guess pleas to the Mint to stop the practice of popping out new coin offerings at coin shows has gone unheeded. Some people just don’t learn from their mistakes. How unfortunate.

  45. Tinto says

    @Hawkster

    Wonder if there will be another stampede of homeless people hired by coin dealers for the first day of release labels at the show?

    Sad … the Mint shows (again) that it is catering to the big dealers and maybe their own big egos too …

  46. Ralph says

    ER Proof coins 78, 77 & 76 arrived today. Will check them out later.
    From all the positive comments about the coins received so far I am beginning to think the remarks made the other day about receiving 3 lousy coins he returned might not be accurate.

  47. Keep Calm & Stack On says

    Hawkster says January 8, 2015 at 1:00 pm – DITTO!

    I’ll be watching intently to see any changes in the show roll out process –

    Here’s one prediction that doesn’t require “time will tell” – the mint will (AGAIN) underestimate demand…, Surprise Johnny!

    Don’t think so…? Just think ’13 RP Buff, BHoFs, clad JFKs, gold JFK, Sacabuck…, Long Beach will be a cluster$@^%.

    cag – Yes Sir, what a shame

  48. Brad says

    Ralph,

    I’ve been checking each day several times a day for the Eleanor Roosevelt Uncirculated coin to get below 99 available, but obviously it’ s not yet. Now with gold over $1,200 I may be forced to buy more of them before I know for sure if they’re almost gone. I’d hate to have to pay an extra $25 per coin next Wednesday.

    Maybe we’ll luck into the count getting below 99 before a price increase next Wednesday, if there is one. Sales might pick up from people trying to beat a possible increase. If the mintage of the uncirculated was only 1,600 to make an even 4,000 total, we may have our answer shortly.

  49. Hidalgo says

    @Brad – at the current rate of sales, you probably will need to check USMint.com for a few weeks, assuming the 1,600 figure is on target.

  50. Darek says

    Brad I think the mintage for unc is below 1500, but we need 3-4 orders for about 10 unc in each one to see if 1500 is the magic number.

  51. thePhelps says

    I don’t think the sells of the Marshalls coins – is going to be anywhere near the problem the others rollouts caused. The others were brand new offerings which were highly anticipated – the Marshalls don’t even rise to being much anticipated…

  52. fmtransmitter says

    Replacement FDR set is stunning! Couldn’t be happier! Must of gotten a bad blank, I was due up! That is what 7 day return policy is for! Good luck all….

  53. Brad says

    Darek,

    I don’t know, 1,500 sounds like an awfully low number. I only suggest 1,600 because the proof appears to have been 2,400, and the mint likes to produce coins in nice round numbers a lot of times.

    I tell you what. Let’s you and me both place orders for 64 coins each (the maximum allowed to stay under the $50,000 cap), and then see if the 128 coins ordered reduces the remaining quantity below 99. Then we’ll have our answer and be able to take appropriate action. We just have to call the Mint and cancel the big orders, just in case they actually allow them to go through. I doubt it though, as I don’t have a credit card with a limit anywhere near $49,284.95! 🙂

    By the way, I’m only kidding about that last part. If people started doing that kind of abuse, the Mint would probably alter the website to once again allow unfillable orders to be placed, and then we’ll lose our newfound advantage and have to deal with the sometimes drastically overstated sales numbers again (like what happened with the Lucretia Garfield Uncirculated). The way it is now (with the Mint cutting off sales when inventory is depleted), we get much more accurate sales data.

  54. Brad says

    Rick,

    If the remaining inventory of any item is below 99, when you try to place 99 of them in your cart, the cart details in the upper right corner displays in red the actual number of that product in stock that remains available to order. Unfortunately the Mint caps the number of any product that can be placed in the cart at 99, so a product has to be that close to being out of stock before you can tell. Still, it’s nice to be able to tell that now. That’s why the last 83 Eleanor Roosevelt proofs sold so fast last Friday night.

  55. Brad says

    Rick,

    Check out the Edith Roosevelt 2013 proof FS coin for an example. If you try to place 99 of them in your cart, it displays the message “58 item(s) in stock” in red. As far as I know, that is the only product on the website right now that is that close to sellout.

  56. Rick says

    Brad, As a poorer member of the blog, I was trying to get one proof of each spouse at the latest time to tie up my funds. Unfortunately, I missed out on the later Roosevelt thinking that there would be plenty and I should first concentrate on the 2013s. I did find your procedure to work as described. Unfortunately…now if I want the later Roosevelt, I have an unc in the middle of proofs!

  57. Ralph says

    Rick, If you keep checking the ER Proof, they might have a few returned and they would be available again before they sell out. Wouldn’t expect it to either be a large quantity or to be available for very long.

  58. D Rittenhouse says

    @Brad,
    I don’t think you need a collaborator in order to “see deeper” than 99 or $50.,000 into the remaining inventory. You just need a few different internet-connected computers, each equipped with multiple different browsers (e.g. Internet Explorer, Firfefox, Chrome, Safari). I think you can also accomplish the same effect by using one browser on one computer running under an operating system that can create/run virtual machines.

    You can put merchandise into a ‘bag’ without logging into the Mint’s website and the ‘bag’ associated with each browser on each computer is independent of all others. I believe that ‘bagging’ a product essentially reserves it for a fixed amount of time (e.g. 30 minutes) or permanently (if you execute the purchase). While the products are in your bag, nobody else can reserve those particular products.

    So you reserve the max using Internet Explorer. If that doesn’t max the inventory, you then reserve the max using Firefox without releasing the stuff in the Internet Explorer bag. And so on.

  59. says

    Fm,
    And to think: If you would have kept that original, flawed FDR Set in its sealed shipping box, you would have been out of luck after the 7 day return window closed. It’s good to see that your replacement set is problem free. I’m sure you’re a proponent of inspecting the coins immediately after receiving them.

  60. rpk says

    It appears that the 2014 FS Unc. mintages are more than 1500. Sales of the Harding coin are at 1434 and you can still order 99 of them.

  61. MarkInFlorida says

    I went to the F.U.N. show today in Orlando (Florida United Numismatists) and it was really huge with 600 dealers! My favorite dealer said he retired because the market is so slow. But he’d get back in if gold went back up to record levels. I offered a duplicate HoF set of both gold and both silver and those I asked weren’t interested except one guy (Gainesville Coins) who said they’d pay melt.

  62. DC_Rk says

    Hidalgo: thanks for the headsup. The asking price seems reasonable (assuming soldout at this point). Do you know how to make an offer for two of the five ER proof coins listed? Haven’t used bay for a while 🙂

  63. Rick says

    Hidalgo: thanks for the headsup. The asking price seems reasonable (assuming soldout at this point). Do you know how to make an offer for two of the five ER proof coins listed? Haven’t used bay for a while 🙂

  64. Brad says

    D. Rittenhouse,

    I’m not certain, but I don’t think that trick would work. It seems the inventory count only gets updated after orders are actually placed.

  65. fmtransmitter says

    MarkInFlorida says
    JANUARY 8, 2015 AT 5:26 PM

    I went to the F.U.N. show today in Orlando (Florida United Numismatists) and it was really huge with 600 dealers! My favorite dealer said he retired because the market is so slow. But he’d get back in if gold went back up to record levels. I offered a duplicate HoF set of both gold and both silver and those I asked weren’t interested except one guy (Gainesville Coins) who said they’d pay melt.

    LMAO…WOw..

  66. fmtransmitter says

    Hawkster says
    JANUARY 8, 2015 AT 4:56 PM

    Fm,
    And to think: If you would have kept that original, flawed FDR Set in its sealed shipping box, you would have been out of luck after the 7 day return window closed. It’s good to see that your replacement set is problem free. I’m sure you’re a proponent of inspecting the coins immediately after receiving them.
    I am now that they only give you 7 days to return them! Back in the day though I made a pretty penny on the HOF Gold but that was pure luck and timing and it was sold sealed…I think those will go up, but it takes time. Most folks new to this don’t get that it takes TIME for your coins to mature like a fine wine!

  67. Rick says

    Is it fair to assume that some major dealers like Silvertowne or MCM may have insider information about US mint inventory and production?

  68. Hidalgo says

    @Rick – you can contact the seller and ask to buy 2 of the gold proof coins at a lower “Best Offer” price. Or you can contact him and ask him to sell 2 to you for a$1,155 each. Personally, I think the coins are overpriced. However, you should pay what the coins are worth to you.

    If you’re patient, you could possibly buy the coins at a lower price when they are up for auction. Auction prices tend to be lower than “Buy it Now” prices. And with time, prices tend to decline as demand wanes. However, that is not always true. And the value will depend on how gold performs in the weeks/months ahead.

    I saw a FR Eleanor Roosevelt gold proof coin coin for $790 today. I passed on it.

  69. cagcrisp says

    Pertaining to the US Marshal coins: The Marshal museum BOD’s have Raised their Estimates to the Maximum of $5.0 million from $4.5-$5.0 million for proceeds from the coins…

    I don’t see it. Do the math: $35/Gold, $10/silver and $3/clad. If you get $5.0 million you better sell a LOT of the Golds…

    I don’t see it…

  70. says

    Ralph,
    Here we go again with an ebay seller offering up an Eleanor FS in the sacred sealed box. I guess this seller doesn’t read the MNB. Beware when the word “unsearched” is used in the description.

  71. MikeinPA says

    bought another ER FS unc today, almost a no brainer imho, not that much above current melt, possibility of a low mintage would be a bonus

  72. Keep Calm & Stack On says

    Brad – what are waiting for? Throw 99 ER UNC in your basket.., I’m sitting here 99 in mine.

    Let’s see if this works & then we’ll know. A few more of you do the same and that’ll put it over the 500 mark, by 8 pm if nothing shows, chances are.., there’s your answer.

    BUT if it works, I want to watch the STAMPEDE again!

  73. Keep Calm & Stack On says

    D Rittenhouse – how many do you have in your carts? I could care less about FS coins sans the Liberty Series, though thanks for throwing out the idea out, with any luck we’ll have this nailed down within the hour, it either works or doesn’t, no harm, no foul! 🙂

    All you FS Hounds.., load’em up!

  74. Samuel says

    i dont think adding it in the cart make any difference, if the website coding is smart enough, it should only count those orders that already have the payment info.

  75. GoldFishin says

    @KCSO- received my sealed roll today and 5 extras…quality was good and roll was indeed sealed but took a little abuse on the trip. I am happy with the price I paid and CSO(Calmly Stacking On).
    I will probably only be into the ATB’s this year and then only the designs I like. I will collect any 3/4 ounce 24K gold commemorative the US Mint offers. I think these 3/4 oz. gold coins could end up being a nicely collectible subset, just as the RP’s are or were(before they started making yearly sets). 😉 2016 looks to be a very good year at the Mint and I think I will save some money this year in preparation. A potential gold mercury dime has me drooling, as I am a high grade mercury collector.

  76. Brad says

    KC&SO,

    Sorry, I was at Pizza Hut with my wife for supper. 🙂

    Okay, I added 99 to my cart just now, with no hint of insufficient inventory. It must be smart enough to only update the count when orders are actually placed. That would make the most sense anyway.

    I’m sticking to the 1,600 mintage number for now. I’ll continue to check it multiple times a day just in case. And, if the uptick in gold holds and the price will go up by $25 next Wednesday, I’ll probably go ahead and take the plunge on faith. It could be an expensive lesson, though!

  77. VaBeachEd says

    Hawkster,

    My love in coins are the Gold Liberty Half Eagles (1839 thru 1908), I posted about earlier, but I like to put my money on the “First Strike” labels, because they seem to bring a higher price, down the road. I have never sold a coin and will be 64 years old this month and do not have any kids (my wife passed away in 2009), so when and if I ever sell them I feel I will get a higher price. I feel like a coin graded by PCGS or NGC as a 70 is just that, a 70, but the lable does not have anything to do with the condition of the coin. There are a lot of people that think the FS label shows the coin to be made earlier and in better condition, but truth be know, it all depends on when the “DIE” started or was replaced. You might buy a coin after a couple of weeks or months that had struck only 10 coins, because the die had just been replaced. All of this is JMHO.

  78. GoldFishin says

    VaBeachEd- I am sure you didn’t mean that you have 1839-1908 gold liberty halves that are graded as First Strike. I think you meant to say PCGS labels or maybe you just got your thoughts crossed into one sentence. I also try to get PCGS labels whenever I can with the older coins. I think overall they are stricter with their grades.
    Also I agree with you that with many modern coins the PCGS First Strike labels have been the overall best performing in the aftermarket. The numbers don’t lie, but you are swimming upstream with a lot of folks here. Just continue to collect what you like and share your passions. Thank you for your posts.

  79. VaBeachEd says

    Hawkster,

    Here is an example of what I am talking about below. Now after you look at it, then ask why people would go to ebay and buy an item (for this price) when you can still order it from the mint for $99.95 plus $4.95 shipping. You will see that he already sold 2 for his price. Now think why some would want a FS label.

    http://www.ebay.com/itm/50th-Anniversary-Kennedy-Half-Dollar-Silver-4-Coin-Set-Collection-Unsearched/171572936079?_trksid=p2047675.c100005.m1851&_trkparms=aid%3D222007%26algo%3DSIC.MBE%26ao%3D1%26asc%3D20131003132420%26meid%3Dc398adc0f7b44871b0a3b64185e40aa8%26pid%3D100005%26prg%3D20131003132420%26rk%3D1%26rkt%3D6%26sd%3D131390226562&rt=nc

  80. VaBeachEd says

    GoldFishing,

    I wish, but that would not even be possible. This is what I wrote ealier…

    VaBeachEd says
    JANUARY 7, 2015 AT 10:02 PM

    fmtransmitter ,

    It is my money I am spending and I have never sold a coin, yet.. I would never have room for them all and I have two closets full of OGP boxes. I also could never afford them all either.
    My true love to collect are th Gold Liberty Half Eagles. I have the first one in the series 1839 and 1839-C and the last 1908 both Liberty and Indian. My biggest problem is filling in the rest, that I know I will never be able to do, but I do have a few of the CC years also. I started collecting my gold Liberty’s years ago when you could pick up one without breaking the bank. I have a few 1861’s and keep one in my wallet. It is surprising how many people have no idea what our coin history is and anything about using gold coins daily over a hundred years ago. I like to show the 1861, because younger people seem to understand the age more, because of the start of the Civil War. It is awful about how few people know when the war started, or that it ended in 1865……really sad, because our coins also tell our history.

  81. GoldFishin says

    @cagcrisp-

    Cagcrisp said “2015 BHOF inductees Inducted First Time on Ballot: Pedro Martinez, Randy “Big Unit” Johnson and John Smoltz.
    Dang. I would like to Start a rotation with these Three…”

    Agreed….would be almost as good as a HOF rotation of Glavine, Smoltz, and Maddux! Can’t tell I am a Braves fan, huh? I still can’t believe those 3 guys were all in the same rotation for so many years. Those were the days….

    gold coins, silver coins, circus coins….. 😉 just so I can stay on topic

  82. VaBeachEd says

    GoldFishin,

    I left you a message on the prior page. Thank you and I hope it is warm where you live.

  83. GoldFishin says

    @VaBeachEd- it was very cold today, but the sun was out so it was tolerable. I read your earlier post…I read almost every post every day, if I miss a few days I try to catch up. It is my “relaxing time” that I enjoy as well as some market news sites I frequent. I almost always have a stream of a hockey, football, or basketball game going on also. I really like hearing what folks like to collect and a little about their life…it helps me to remember their blog post history, which makes current posts more relevant. By the way, sorry about your loss.

  84. VaBeachEd says

    stephen m,

    Pinehurst has them in Pre-Sale……
    SKU: 12148
    2015-W Proof $1 American Silver Eagle NGC PF70UC (Brown Label)
    * Pre-Sale item; the estimated ship date for item is January 16th *

    Read More
    Tier Pricing
    Qty Check or Wire Credit Card
    1 to 1
    $87.33
    $89.95
    2 to 9
    $83.45
    $85.95
    10 to 19
    $81.50
    $83.95
    20 to 99
    $79.56
    $81.95
    100 to And Up
    $77.62
    $79.95

    http://pinehurstcoins.com/catalogsearch/result/?q=2015-w I would call about shipping cost.

  85. Eagle One says

    How is it that a PCGS SP-69 2014-D Enhanced SAC $1 typically sells on eBay for $170-180 and the NGC SP-69 2014-D Enhanced SAC $1 typically sells on eBay for $55-65? That is a 309.0% difference. Can the holder actually be worth that much more?

  86. GoldFishin says

    @jagfan- were those colorized Marlins ever for sale yet? I would like to pick one up to give to my nephew. He is in college at a coastal university and has become quite a fisherman. He caught a record cobia this past year in the waterway where nobody would expect to catch one. I think he would really like the coin. I have seen him wearing shirts that look like some of the artists work. I admit I have never heard of the artist, but the price for the coin isn’t unreasonable for a gift.

  87. VaBeachEd says

    GoldFishing,

    I also try to read daily, but when I am at my cattle farm (120 miles from VA Beach) I have to hook up the laptop and get a signal, so not so much.
    Thank you, I also lost my brother in 2010, my mother in 2013 and rented my house out at the beach a few years ago to move in with my parents (also at the beach) to help out. My Dad will be 93 March 1st, so I am selling out cattle and farm towards years end, when calves are larger. My parents were 2 months shy of their 72nd Annv. when my mom passed away, so it is hard to leave my father alone very long. He still drives and works in the yard, but always had my mother, except when he was with Patton in WW II. I enjoyed the chat, I hope you have a good evening.

  88. VaBeachEd says

    GoldFishin,

    Where is your nephew in college? I caught the Virginia State Record Atlantic Blue Marlin in 1978 also World record for the year of 1978. It still holds VA state record and one record it will always hold is, it was the ‘First Fish Ever Caught Off Virginia (on rod & reel) over 1,000 lbs”. It weighed 1,093 lbs. 12 ozs. and 14’ 7″ long. They put a copy on display at VA Beach, but I have the original hanging in my den. Cobia is a nice game fish and good eating. I congratulate him. We catch most of our cobia in the mouth of the Chesapeake Bay and the Chesapeake Bay Bridge Tunnel.

    I am way “OFF TOPIC”, so I better go and get back to coins or go to bed!!! Too late for Fishing and hunting stories.

  89. GoldFishin says

    @VABeachEd- he attends ECU in Greenville…not so far from you. I don’t know all the numbers, I have a picture of it. But my sister told me that if he would have caught it in the Big tourney they have every year it would have won last year’s tourney. He was very excited. Funny story….he was out in the boat with his girlfriend really not expecting to catch anything(well, not anything) all of a sudden the cobia hit and the two of them ended up having a great memory together. He’s a big kid, 6’5″ but agile and is absolutely hooked on the big game fish. He was telling me at Christmas that they were catching 700+ lb. tuna off of Hatteras, but he had other obligations and couldn’t get out there with his friend who is a commercial fisherman and mainly responsible for teaching him a lot of what he knows. He learned a lot of his boating skills on Lake Gaston where my sister had a summer home and also time growing up in Charleston, S.C.

    Gold coins, silver coins, marlin coins…to stay on coins. 😉

  90. jhawk92 says

    @”Cool” Dave –

    I’ve been off the blog for a couple of days. I am still interested in the Lincoln set. Let’s figure out a way to connect.

  91. jhawk92 says

    For those collecting DMPL pucks, has anyone seen any more Everglades with Mercanti signature? MCM had a few but sold out before I got mine to finish the 2014 set. Hope I don’t have to add this one to the “hunting” list like the 2010.

  92. The Real "Cool" Dave says

    Guess that puts another day into the books. Time to sign off now with the National Anthem and then either a long (TV) “beeeeeeeeeeeeee” sound or white noise . . . then disembodied voices talking in that noise.

    Good Night all !

    Mr. “Cool” Dave 🙂
    ————————————————————————————-
    P.S.

    @jhawk92 says

    “@”Cool” Dave –
    I’ve been off the blog for a couple of days. I am still interested in the Lincoln set. Let’s figure out a way to connect.”

    OK

  93. stephen m says

    VaBeachEd, I have looked at Pinehurst,. I’ve been getting from MCM every year . Pinehurst is about 2.50 cheaper but I’ve never purchased from them before. I may wait a while and see what comes up. I got the 2015 proof, 2 ea, from the mint yesterday, both look really good, flawless. I’m looking forward to the 30th ASE anniversary to see what the mint comes up with. Thanks

  94. stephen m says

    VaBeachEd, M.C.W. Inc. pre sale @$84.88 PF70 ASE NGC w/ free shipping. They appear to be the lowest priced right now. Thanks again.

  95. Keep Calm & Stack On says

    Brad, well though, at least we have a little technique to keep in our back pocket to give us little guys an advantage from time-to-time over the big boys, which often drive this industry. We call it our hobby though it’s really an industry IMO. Not withstanding a dealer taking your approach with multiple accounts to ‘check’ availability which I feel is highly likely, perhaps we’ll have another tool at our disposal to gain a leg up from time-to-time.

  96. Keep Calm & Stack On says

    GoldFishin – good to to hear it work out! You must have paid by CC, as it usually takes me about 3 weeks to receive an order. I called them yesterday and they confirm that they send them out just as they receive them so that was reassuring. I appreciate you saying something and want to return the favor so if they’re something I can keep an eye out for, let me know. I need to spend more time analyzing my sector plays but end up spending more time searching for sales, and after a day of work the mindlessness of it always for some compression. A few months ago you commented about some dealers selling out which appears to have been the case. I feared that may impact SP/DMPL ‘Glades availability and though it may be premature to draw a conclusion, the numbers presently would support your initial observation. Will be interesting to watch how the market evolves if these guys cease their grading operation on these pucks.

  97. Bernie in FL says

    Off topic a bit. But EXTREMELY Important…..

    Just a heads up for those of you that sell or flip coins on ebay. Just remember that ebay sends the IRS a 1099-K for sales that add up over $20,000 or 200 items in a one year period.

    So, remember if you sell on ebay and have over $20,000 in sells, regardless of items or 200 total items the IRS has notified of this. This 1099-k started in 2013 for those of you that just fell off your “Computer Chairs” as I did in 2013 when a friend told me.

    So just a heads up for all you sellers on ebay. Ebay will not tell you. You will be responsible for 20% gains to the IRS for 2014 if you meet the above criteria.

    As ebay will not notify you of this and makes it your responsibility to down load the 1099-K yourself.

    Remember, I am just the messenger here so don’t shoot me 🙂

  98. Brad says

    Bernie,

    Yeah, I think a lot of sellers are already aware of that. And, in order to get the 1099-K you have to meet BOTH criteria. So, if you sell a handful of coins for $100,000 but only have 20 transactions, then you won’t get the form. Likewise, if you sell 1,000 small dollar items that only add up to $2,000, you won’t get the form then either. Only if you pass both $20,000+ in payments and 200+ in transactions will you get the form.

    Still, it is important to keep track of. I always make sure I come in under both criteria each year just in case, since PayPal still does not have my number on file. Since I know they won’t be needing it, I keep clicking “remind me later” on the screen that comes up asking for it almost every time I log on. I figure if there’s one less website out there with my SS# on file, that’s fine by me. I can just see the crawl on “Good Morning America” now. “Popular website PayPal hit by hackers, millions of Social Security numbers stolen.” No thanks!

  99. IPS_STUFF says

    @Bernie in FL

    Let me point out a correction on the 1099-K RULE this is an AND rule and not an OR rule.

    In order to receive the 1099k you must sell over $20,000 in value AND have over received 200 payment transactions or more.

    Secondly you are correct that EBAY will not tell you, but PAYPAL will start to notify you once you exceed a certain threshold of dollars and transactions.

    I have monitored this rules and my status closely for the last two years.

    Thanks for letting me clarify the issue as I have read from various sources.

  100. Bernie in FL says

    @Brad and IPS_STUFF

    Thanks for clearing that further for me. Seems I got rather so so info the first time. This makes more since but I never saw it coming in 2013 when it just showed up. AHHHHHHH!!!!!

    But the 200 plus $20,000 seems no problem to stay under now that I know.

    Thanks again

  101. Keep Calm & Stack On says

    Guys – so assuming that the rule was met with $20,000 worth of product sold AND 200 items, on this 1099-K you would have to report a Cost Basis for EACH transaction?

    And an original purchase date to calculate whether it is short or long-term gain?

    Just curious… thanks

  102. The Real "Cool" Dave says

    @Keep Calm & Stack On says,January 9, 2015 at 12:25 pm
    “Guys – so assuming that the rule was met with $20,000 worth of product sold AND 200 items, on this 1099-K you would have to report a Cost Basis for EACH transaction?”

    Yes, if reporting as a Capital Gain and not considered a business.

  103. Bernie in FL says

    @Keep Calm & Stack On

    Yep! Imagine getting hit with this in 2013 and going back and trying to find ALL the purchases over 10’s of years and matching them with ALL the sells to see if you have any gains to off set losses. Then if you do have a gain you add that to your tax’s for 2014. But if you have a loss you get No deduction.

    But the best advice is to sell less than $20,000 “AND” 200 items in one calendar year and you do not have to keep these almost impossible records.

  104. Bernie in FL says

    @Brad

    Thanks for clearing up the “AND” part of the $20,000 and 200 items. My own CPA told me that it was $20,000 “OR” 200 items. I never got the “Both” need to be achieved to get the 1099K. Seems my own CPA read it wrong.

    Thanks for getting it right and straightening it out. If you read the 1099K from Paypal it seems you get a 1099K for breaking the $20,000 “OR” the 200 items. But you have it right! You need to break BOTH.

    Thanks for the Correct info……..

  105. Bernie in FL says

    I just got this off the PayPal Web Site on this 1099k

    Starting in 2011, PayPal is required by the IRS to report the sales of goods and services for customers who, in a single year receive:

    -More than $20,000, AND

    -200 or more payments
    .
    The new IRS 6050W changes apply to all payment providers, including PayPal. This includes payments received after January 1, 2011, with the first reports sent to the IRS in early 2012.

    Hope this help someone in the Future not get his Butt caught out in the Wind 🙂

  106. jsm says

    Anyone know anything about the 2015 Reverse Proof Pandas that are being sold at the fun show? Seems they were made to commemorate the Fun show 60th Anniversary.

  107. Keep Calm & Stack On says

    You know guys, with the internet sales tax becoming ever more far reaching, this ebay precedent in 2011, and the inability of our Federal Government to get a handle on THEIR spending problem of OUR money…, not to be the spreader of bad news, though we better enjoy the upper limit (aka ‘the good times’) now .., ’cause you know Change is coming and it’ll mean less change in our pockets!

  108. Keep Calm & Stack On says

    Oops, I forgot, gold coins, silver coins, circus coins, reverse proof silver pandas….

  109. Bernie in FL says

    @Keep Calm & Stack On

    It seems as you said. Better days are not yet to come. But yet behind us. Well put….

  110. Brad says

    Bernie,

    You’re welcome! Like I said earlier, I always make sure I stay under BOTH criteria every year just to be safe. I don’t know if PayPal would force me to give them my SS# as soon as I pass one of the two thresholds or not. I really don’t want them to have my number on file, just in case they get hacked.

  111. Bernie in FL says

    Brad,

    Perfectly said. I even went into Paypal to see if I could change or delete my SSN. But as you may have guessed. I was not able to. I will give Paypal a call and see if they absolutely have to have my SSN. Seems I could always close my PayPal account and reopen another without the SSN.

    I let you know what happens…..

  112. MarkInFlorida says

    You guys know that even if no one sends the IRS a 1099 for your sales, everyone is supposed to report all profits made on selling stuff, whether on Ebay or flea market, right. Of course if you took a loss or broke even there is no profit to be taxable.

  113. Bernie in FL says

    Mark,

    Absolutely. But tell that to the yard sale individual 🙂

    But the only thing that gets me. In stocks and bonds you can carry over losses for 10 years if memory serves me. But in these sales you report and pay 20% on gains, but cannot deduct losses for any following years.

    Weird…….

  114. Brad says

    Mark,

    Yes, I pay the capital gains taxes on the gold & silver coins I sell, despite the lack of a 1099-K. However, I also sell a lot of old junk I’ve accumulated over my lifetime. Silly stuff that I often times have no clue how much I have in it and certainly don’t want to have to fool with reporting it on my taxes just to match the amount on a 1099-K!

  115. Bernie in FL says

    Brad

    That’s exactly what happen to me in 2013. My Father and Mother-in-law retired to a nursing home and we just put up all the Junk on ebay for sale. Took a year to get read of a lot of stuff that is one mans junk and another mans treasure. It put us over 200 items (trust me that was Not hard) and over $20,000 for the year.

    Then I get hit with a 1099K and now you can imagine the frustration of trying to figure out for my in-laws what is worth what and match it up with the sells.

  116. cagcrisp says

    Sure Glad you guys aren’t giving out Tax advise….

    Concerning……gold coins, silver coins, circus coins

  117. Brad says

    Bernie,

    Yes, I can imagine what a headache that would be. It’s exactly the type of situation I want to avoid!

    Cag,

    Ha ha!

  118. The Real "Cool" Dave says

    @Bernie
    “Then if you do have a gain you add that to your tax’s for 2014. But if you have a loss you get No deduction.”

    Not entirely true — it depends . . .

  119. Jerry Diekmann says

    Maybe OT, but it’s been the subject in this blog , regarding taxes – and Mitt Romney can make over $20 million a year and he pays NO taxes! There are two tax systems in the USA – one for the rich and powerful, and one for the rest of us. The upper middle class really get hammered by our current tax system – the actual rate we pay is much higher than the rates quoted by the IRS, after you take into consideration the alternative minimum tax (AMT), 2% exclusion on miscellaneous deductions, 10% exclusion on medical expenses, and reduced Schedule A deductions and reduced exemption credits. They even tax 85% of our social security, and the deductions against our wages were already after taxes, making part of this income a double tax. And for capital gains, you can deduct capital losses dollar for dollar against capital gains, but if you have more capital losses than capital gains, you can only deduct $3,000 per year against ordinary income (wages and pensions, etc.). The system appears to have been deliberately created to be unfair, and it is a real shame that Congress (populated by the rich) don’t choose to do the right thing and make the system fair, that is, where everyone pays their fair share. My disabled brother pays more in income taxes than Mitt Romney does, and his income is a minuscle fraction of what Romney and other people have who use the “carried interest” loophole to avoid paying their fair share of taxes, plus other special provisions for the wealthy. I’ll hop off my soapbox now, realizing that nothing good will ever probably come out from our “leaders” in DC. Wasn’t that the same title Hitler called himself – “der Führer” (the leader)?

  120. D Rittenhouse says

    @Bernie in FL,
    Yesterday you mentioned a tax rate of 20% on your eBay transactions. That rate is almost certainly incorrect. The capital gains tax rate for the taxable portion of the sale of anything the IRS has classified as a “collectible” (which includes gold, silver, and coins) is 28%.

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