Prometheus #3 in Ancient Myth Series
- Thread starter barsenault
- Start date
barsenault
Well-Known Member
The intro prices are starting to come down...
https://thecoinshoppe.ca/product/pr...-coin-red-gold-plated-chain-mint-poland-niue/
https://thecoinshoppe.ca/product/pr...-coin-red-gold-plated-chain-mint-poland-niue/
It's the effect of the bubble: consecutive releases selling slower and cheaper...and lingering without selling out (all of the mint's past releases of the last several months are still available everywhere - not to mention the prices on ebay).
It is funny that the release window between this, the third, was so long after the second, compared to the release date between the first and second:
1. Trojan Horse: 2016
2. Minotaur: 2017
3. Prometheus: 2019
It is funny that the release window between this, the third, was so long after the second, compared to the release date between the first and second:
1. Trojan Horse: 2016
2. Minotaur: 2017
3. Prometheus: 2019
barsenault
Well-Known Member
It definitely has to be worrisome, I'm sure. And of course the intro prices are indicative of this to be the case. I think someone is reading our thread - lol. However, more importantly they're seeing it come to 'life' on eBay and on their sites. And just think, as each NEW series gets introduced, they have to back fill the existing series (there is a thread with all series)...which means that the market will be flooded with new and old series, and folks have to track what piece belongs to what series. It can get overwhelming. It's the dilemma of 1000 choices offered that no choice is made. What I don't understand is why not have a few series and complete them, and then move on to the next three, etc...I mean, how many variations of gods can they have? Don't get me wrong, I think most of these pieces are stellar! I think the artwork is amazing. I think the relief is incredible. I just think the strategy being deployed is lacking...and it is showing.
I think a perfect example of what happens when a piece floods the market is #2 goddess - athena and minerva. Just a constant dumping.
I think a perfect example of what happens when a piece floods the market is #2 goddess - athena and minerva. Just a constant dumping.
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They are riding a wave...well, they were riding a wave. It's simple greed. But it is remarkable that they don't understand what they are doing enough to see where it is leading to. Again, this isn't the first collectible market for this to happen to, and it always ends the same way. Yes, their coins are beautiful . But if every coin is beautiful and the themes are pretty much identical and there is no real differentiation in the products (quality, theme, material, COST, etc.), it is basically a shotgun mentality: let's throw everything we can as fast we can at the wall and see what sticks. Tack on to that crazy pricing that, like it or not, is designed to take your primary buyer (mid-to-long term collectors) out of the market, it only leads to one place.
The comment about them reading the threads is accurate. I've been trying not to talk about the MoP stuff here and elsewhere very much anymore because it is free publicity for them and I know that they ARE (both dealers and producers) watching. It was funny when Mik at agau posted a comment a couple of days ago about trying not to post too much about MoP lately because he is becoming part of the mint's marketing department. I was actually thinking the same before he said it because he talks them up too much and does give them kudos a lot for basically every release - they want that.
Besides, with other products like the Micromosaic releases, at least they are others trying to do more. It may not be my cup of tea, but at least it shows some forethought in doing something different, and the interest shows in the prices.
Also, my comment about the gaps in release date and your comment as well, was an important point: it was almost like they forgot about a major series that was several years old. So besides new series with unknown numbers of issues that are announced every month, it is like they don't really care about what they were producing that helped build their name.
The comment about them reading the threads is accurate. I've been trying not to talk about the MoP stuff here and elsewhere very much anymore because it is free publicity for them and I know that they ARE (both dealers and producers) watching. It was funny when Mik at agau posted a comment a couple of days ago about trying not to post too much about MoP lately because he is becoming part of the mint's marketing department. I was actually thinking the same before he said it because he talks them up too much and does give them kudos a lot for basically every release - they want that.
Besides, with other products like the Micromosaic releases, at least they are others trying to do more. It may not be my cup of tea, but at least it shows some forethought in doing something different, and the interest shows in the prices.
Also, my comment about the gaps in release date and your comment as well, was an important point: it was almost like they forgot about a major series that was several years old. So besides new series with unknown numbers of issues that are announced every month, it is like they don't really care about what they were producing that helped build their name.
barsenault
Well-Known Member
Yes indeed, I think they finally understand what we found out the hard way regarding the Panda craze. You can't create 1000 different variations and expect the prices to appreciate. But as you said, greed comes in, they kill the golden goose. You'd think they'd know better by now, but greed knows no bounds. Like the Pandas, they'll probably start to make gods pooping and peeing, because they'll run out of ideas on what to do with yet another type of god series. I think the reason why the Assassins are doing somewhat better is simply because it a bit off the beating-path. The smart mosaics is a great concept. I do have them. I personally think they're amazing works of art. I have one of each, and to hold one in hand is just amazing!! Let's see if they can control their level of greed and not drive yet another beautiful concept into the ground by creating so many that the art work of those will also be an image of someone or some animal pooping and peeing on the smart mosaics. Unfortunately, I don't have a lot of faith in humanity. Lol. Where there are pennies to be made, they'll throw the kitchen sink at it, even at the expense of ruining something good. I shared my thoughts with the folks who sponsor the smart mosaics. whether they listen, time with tell.
lol the selective gold plating would be very interesting for sure
I think the mosaics is very interesting, but it's not my thing: I only buy what I like. But you can see the value from the design and originality, and the aftermarket prices are showing that collectors agree. Kudos to them (and you for getting in on it).
The Assassins is interesting in that it is a new and different theme, it's just that the 499 but really 999 mintage is kind of a fiasco waiting to happen. The initial pricing was interesting and likewise the slower rise, but I think it was more that the dealers' hands were forced more so than it was that they were getting more reasonable in their pricing. Another comment on another forum summed it up best, they are just changing tactics.
A breakdown from the Coin Shoppe pricing (it is the same at other sites):
Thursday, May 30: $245.06 USD (about five available with no added items or price increase upon "sellout")
Friday, May 31: $252.50 USD (couple added with no added items or price increase upon "sellout")
Monday, June 3: $282.25 USD (couple added)
First increase, June 3: $297.12 USD (first price increase after "sellout" of another one added)
Tuesday, June AM: currently sold out, but I expect another one added at another price increase.
Prometheus started at a low price and is also a very slow seller. The design isn't anything special IMO, but to each their own.
barsenault
Well-Known Member
yeah, you gotta luv the part where Mik at agaunews says, '500 are allocated elsewhere' (or something like it)...he's just the messenger, I just think it is funny how they're trying to use this info to say, 'well, you know these really are rare, forget about the other 500, the mintage will feel like 499.' That was funny. No, we're not dummies, it is a mintage of 1000, and 1000 is a lot more than 500. As in double the supply, and eventually those 500 will find their way into the market, and it will flood the market...just like at some point many Ares and Posiedon will find their way into the market...and it will keep prices in check. First Coin Company had a ton available at $249.00, and many people hopped on the train, and they realized what was happening, and so they hiked the prices to $399.00. .
If Prometheus was the only god, perhaps it would be a fast mover, but considering there are all sorts of gods and goddesses, I think they will be slow movers.
.If Prometheus was the only god, perhaps it would be a fast mover, but considering there are all sorts of gods and goddesses, I think they will be slow movers.