2011 American Silver Eagles PCGS San Fransico

APMEX has PCGS certified 2011 American Silver Eagles from San Fransisco @ $110 a pop.

Anybody considering buying one?

Why & why not?

 

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If I was going to purchase 1, I would get the 69-graded for $57.00 and not the 70. If you look at the 2010 proof silver eagle as an example, the 69-graded coins have maintained their value while the 70s have actually lost value because they are all over the place. Also, I would be more inclined to get 1 of these if they had a mint mark. The mintage for the 2011 silver eagles is going to be very high in general, so it's not like these things are going to be difficult to find.

 

I do not buy labels. The coin is indistinguishable and the label will not get me to pay more. It is a silver eagle, like all other silver eagles, and is 1 ounce of silver and worth the bullion content plus what ever market premium is there. If you collect the coins grade matters, but without a mint mark, the production location is not important. The TPG's will only put the label on if they are sent a full unopened monster box that lets them see the location.

 

I have some interest in a purchase. Anyone know how it is that these have been certified from SF mint since they lack a mark? Will PCGS's label really be enough of a guarantee? The loose coins will surely be lacking any reasonable provenance.

 

I see the yellow strap with the SF label on the monster boxes. Good start, but in a shop that handles many of both varieties, you still have to rely on their internal handling and integrity of the entire process to go with anything less than the box. Not a big risk, but not great either.

 

NGC Will Certify 2011 Silver Eagles Struck in San Francisco
June 8, 2011 By Louis Golino 4 Comments

2011(S) Silver Eagle, Image: NGC
As reported recently in Coin Update, U.S. Mint officials have decided to strike American silver eagles at the Mint’s facility in San Francisco in order to help meet the growing and unprecedented demand for silver eagles.

The coins will not carry an “S” mint mark to distinguish them from silver eagles struck at the Mint’s other facility in West Point. However, 500-coin green monster boxes will leave the San Francisco facility with labels indicating where they were struck. Most collectors seem to feel, as do I, that the coins should carry an “S” mint mark.

More:

http://news.coinupdate.com/ngc-will-certify-silver-eagles-struck-in-san-francisco-0858/

 

Had the mint wanted to make a lot more money off of these, and used their brains for a change, they would have included an S mintmark on these. That would have ensured collectors of the series would have bought at least one more this year to have a complete set. But, with no mintmark, I don't see how anyone will ever know for sure if they have a SF minted ASE. We've all grown too immune to the TPG's labeling gimmicks to trust their opinion on the matter.

 

These are bullion coins....bullion silver coins do not have a mintmark as they are not being manufactured as a numismatic product. P, W, or S does not show on bullion coins.

 

Thats not true. The ASE's have been minted with W mintmarks in the past. True, they were proofs...but proof bullion is still bullion. It's a matter of whether they wanted to make more money by simply placing an S on some coins. Instead, they opted not to.

 

Bullion and Numismatic coins are different with different legislation...so yes, they are both made of same material, however, they are not both bullion according to the laws of our great nation.

 

Hmmm...ok

 

I bought this one for $55 and Free Shipping this weekend:

http://www.moderncoinmart.com/cart1/product.php?productid=23432&cat=0&page=1

TC

 

I definitely don't see a point in buying a San Fran Eagle because the only way to distinguish them is the grading companies label. If the mint isn't going to bother putting an S on it, it ain't worth collecting. Just a bullion coin and as mentioned worth spot plus a slight premium.

 

I agree but just wanted to have it for my collection of ASEs. You never know...maybe there will be a slight difference. I thought $55 (total cost as shipping was free) was reasonable from MCM. No way am I going to spend $12.95 for shipping at Apmex. TC

 

Interesting insight here. I originally thought I would buy some, but see now that there really is nothing ultra special about the coin. Sounds appealing at first thought, but beyond the label there is nothing thrilling about it. Seems to be a blur in whether or not these are more appealing to the numismatic collector v. bullion buyer. Seems to be a quick way to add an extra premium with no real added value to the buyer.

Thank you for the MCM referral TapcatCoin, if I change my mind, I will definitely avoid the high shipping costs employed at Apmex! Geez, that's almost 1/4 of the total cost of a coin! I guess that's why you don't order just 1 coin, you have to make those shipping costs worth it!

 

No problem. MCMs free shipping was only for Father's Day weekend, but here is another site with a comparable deal ($54.99 + free shipping):

http://www.paradisemint.com/2011-Si...isco-Mint-NGC-MS69-Early-Releases_p_2264.html

TC

 

Aw, the "S" s-less ASE. Totally indistinguishable from the "W" w-less ASE........save for the labeling on the slab. No motive for potential abuses here, right guys?

 

I wonder if MCM had free shipping around Mother’s Day…

 

This is EXACTLY why I keep ALL original forms and OGP from the mint. Perhaps they are doing this on purpose, and they will later relent and mint ASE's with the S mint mark, those who bought the ASE's from SF with no mint mark then will really have a collectible. This could be a marketing strategy of the Mint. If enough dealers, collectors etc, complain, they may just end up minting coins with the S mint mark. Just a thought.

 

The bullion coins never had a mint mark before, so why start now.
The numismatic ASEs sold by the mint would be marked, but that is not the case.