Buying Graded Silver Eagles

I'm considering starting a set of MS-70 or PR-70 ASE or AGE coins, wanting only the best coins. I've never bought graded coins before and there are a lot of options (NGC, PCGS, UCAM, DCAM, First Strike, Early Release, Burnished, Uncirculated, Proof, different color labels, etc etc) so I'm looking for a little bit of help..

First off, does it matter which grading company I choose? (I will stick with them for the whole set, so that the slabs are the same). From what I can see on APMEX's website, I prefer the look of the PCGS holders (correct me if I am wrong but they are clear like the mint's proof sets?).

I will end up ordering a few of the cheaper dates first, to make sure I like what I am getting and don't make a mistake on an expensive item, and slowly add to the collection over the years.

Any help/advice is appreciated, thanks!

EDIT: Also, is there anything wrong with purchasing graded coins online such as from APMEX, Coast to Coast, MintProducts etc?

 

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If you buy coins from PCGS or NGC, it does not matter where you buy them. Most other grading companies are considered second tier, and some are scams. I've never used Coast to Coast, but most people seem to prefer dealing with APMEX or MintProducts. Uncirculated and proof coins are struck by completely different methods. Designations such as "first strike" are marketing scams to drive up the price of coins with absolutely nothing special about them.

My sense is that you should spend time studying the coins more closely before you buy anything.

 

I second this. If you go with PCGS then there are a lot of years without 70's, plus 70's bring a much bigger premium for some years. Plus if you ever go to sell you need to find the right market or seller - if you try to sell to dealer they will treat them like bullion, even in the holders.

 

I wish you luck with your quest. It will most likely cost you about $75,000 for a MS-70 set of Silver Eagles. I suggest going for the key dates first as they are the most expensive and will only increase in cost ever year that you spend on this journey.
I've saw a 70 set of Silver Eagles back in 2008 and it was something to see. I would build an NGC set.

 

I'll let those more experienced than I discuss which coins to purchase, but as far as where to purchase them, I have found ebay the best place to purchase them. I know this may sound like heresy to some, but, IN EVERY CASE in which I was looking for a certain coin, I obtained it on ebay cheaper than any of the online coin/bullion dealers. This is both through auctions and "buy it now". In terms of auctions, I have found better days and times of the day to purchase than others. In terms of "buy it now" items, I have emailed the seller and made them an offer. More often than not, they have accepted it. It has to be reasonable, of course. Remember also to consider the total cost (the item plus shipping charges) before purchasing. Some ebay sellers and also some online dealers want to add ridiculous shipping charges. Good luck!

 

Talkin' major "jing'. Good luck in your Quest. Cloudsweeper and Mark_ have given you most excellent advice.....

 

Thank you everyone for the advice. Sorry, I shouldn't have included uncirculated/proof in my original post, I do know the differences in those. I was just making a point that there are a lot of options it seems. So a PR-70 or MS-70 first strike or early release coin will look absolutely no better than a regular 70 coin? I noticed, for example, APMEX sells a 2010 MS-70 for 83.99 and the "First Strike" for 94.99 both from PCGS. Can there be differences between coins graded 70? I want the absolute best that I can get, so if there's even the slightest difference I may be willing to pay the extra 10 bucks. Maybe I'm wrong, but I don't see how a coin can be 100% "perfect" (maybe to the naked eye). Are they all perfectly non-toned? Will a slabbed coin still tone in a non-climate controlled environment?

What exactly is the UCAM/DCAM? And are there any other things to look for?

 

Very good advice! I witnessed this first hand at a local coin shop. I felt bad for the guy trying to cash in. Just make sure this is something you truely want to collect. If you are doing it as an investment, there is potential for huge losses. Finding the right buyer can be an extremely challenging situation, even moreso when you're despirate.

 

IMO ASE 70's are good only if you are into the registry set thing. Somebody posted that it would cost you $70000 to build the set. I will not argue that point since that poster is probably correct. My advice is to save yourself $66000, and buy all 69's. Chances are if i put two ASE in holders in front of you one being a 69, and one being a 70, and covered the grade, you will not be able to tell the difference.

 

I agree. I only will own a coin if I love it. I have many Mexican Libertads, both BU and proof because I feel they are the most beautiful modern coins around. I own a number of Silver Eagles because I like their look also; especially the 2006 reverse proof. I own a few Chinese Pandas, as they are good-looking. I own only 1 Maple Leaf and that is the 2010 Piedfort reverse proof. The regular Maple Leafs are brilliantly simple on the "leaf side", but the image on the other side ruins it for me. I own nothing Austrian, British or Australian because they look pretty boring to me.
The problem with the Libertads and Pandas, though, is the prices are increasing at a ridiculous rate, significantly greater than the rise is silver prices. So, I may take my time in adding to those groups. These are just my opinions, but I wholeheartedly agree with the premise that investing in these can end up being a house of cards.

I just keep telling myself that in the end, it is all bull.............ion.

 

Thank you! That answers one of my questions!

 

Can someone explain what UCAM/DCAM are, and also will a slabbed coin tone/corrode in a non-climate controlled environment?

 

Would not buy any graded bullion coin it really doesnt add any extra value 1 oz of silver is 1 oz
Of silver no matter what the grade!!

 

I guess I don't know if I would agree with that.. Value is how much someone will pay for it. Why does it matter if $30 worth of silver costs $120 or a "70" dime or quarter goes for several times what an uncirculated/proof cost? It's all about having a "perfect" example of that date and mint mark. I'd rather pay $100 for an ounce of silver than $100 for a clad coin that has 20 cents worth of metal in it.

 

+1
I'd passs.
Only way I'd buy them is if they were at close to bullion prices but I don't think you will get that espically from those companys.

 

UCAM stands for Ultra Cameo and DCAM stands for Deep Cameo

 

What is the difference between the two?

 

Nothing. NGC is the only grading company im aware of that uses UCAM and they dont use DCAM. They mean the same, just different companies using differnt lingos, as if there werent enough confusing terms in the hobby...

 

my understanding of the difference of DCAM and UCAM is basically like the difference in ms69 and ms70 or pf69 and pf70 the DCAM is deep cameo and UCAM is ultra cameo... it's really such a slight difference in looks that unless you are completely and totally ANAL you probably will never see it...

Edit: basically it's not worth it really...

I understand the idea of having the best and using that as an investment...it makes alot of sense...

BUT! seriously if you pay say

$80 for a pf70 dcam or $100 for a pf 70 ucam then do you honestly know for a FACT! I mean for a fact yourself not guessing what you think it should be worth but know it's exactly worth it in the market place and that it will not lose that value?

just cause you pay $100 or $1,000 for a coin doesn't mean it's worth anything... as an investment it's only worth what the next buyer of it is willing to pay...