American silver eagles purchase price

I have a two part question here, thanks in advance for any input. I have just started collecting ASE coins and am wondering if the price of silver plummets to let's say 15 an oz what does the cost of a eagle become? Also for you old time collectors out there what did it cost you for your very first eagle? My first one was 45 dollars its a 1996 did I do good? I see them averaging about 50 usd. My others I've got have cost me 35.

 

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Edit..... Please tell me what year you bought your first eagle along with its purchase price. I'm just trying to get a grasp on the price history.

 

I bought my first one when silver was at 26 and change for about 30 dollars.

 

I'm not very old, only 20. My first ASE I ever bought was $32.11 through an offer someone posted here on cointalk! It was a random date, I think I got a 2000. That was only last year IIRC. I also have a 1999 I bought for $29 fairly recently, but it's off quality.

 

I didn't buy my first proof Eagles until 1999. A dealer with a store at the Riviera in Las Vegas had 29 of them in the OGP (1986-1998) in his case. I asked what he wanted for all of them, and we finally negotiated a price of $300.

Chris

 

Did anyone purchase one in 86?

 

In 86 I paid $6 for the UNC and $23 for the proof.

 

87 and 6.50.

For your other question if silver falls to $15 you could expect average of 15/20.

 

If memory serves, I think I paid $23 for one back in 2002, but I think I was snookered........

 

In July 2002 I paid 24 dollars (plus tax and shipping) for a proof ase direct (mail order) from the mint. I have been buying them from the mint since 1993 but I don't have those early prices handy.

The price went up to 27.95 in 2004.

 

So is thirty five bucks about the going rate for raw ase's? I like to spend my money locally but if there's a much better price out there I'd like to know !!!

 

$35 is reasonable.

One of my local coin stores sells them for $3.50-$4 over spot, depending on condition. Another sells them for a flat $4.50 over spot, regardless of condition. A bullion only place sells them for $5 over spot.

If you buy them online, you'll likely have to pay shipping, so if you're in the market for one ASE, buying local is definitely your best bet.

 

My first one was $13 in about 2005 or 2006.
I kept buying a few at a time at $14 to $16 each.
Then I stopped when the price went over $16.
My mistake was selling several at $20 each.
Now I just buy one each year to update my set in a Dansco album.

 

First one was a gift from wife back in 2008... silver was $18/oz. She probably paid around $22.
I recently bought a monster of 2013 ASE at $31.80 each shipped. Probably not a good idea given the price could be regressing back to $15/oz, but, I wanted a box to diversify fiat Fed notes.

 

In Nov 2007 the avg POS was ~ $15./ozt: it's reasonable to presume ASEs will 'cost' about the same as in November of that year.

 

I paid $6 in 1986 and I think I paid like $7 in 1987 but got mad (at first) when he wanted to charge me $10 for the 1988!

I later came to learn that they were tied to the spot price of silver.

To answer the OPs question, the dealer stocks won't sell for any less than the dealer paid, so maybe on eagles for the next year the price will drop, but I wouldn't count on a plummet in silver value doing anything other than effectively killing the people who own them at the time. Those losses will be hard to swallow and therefore will take a long time to realize themselves in the marketplace.

 

I just bought the Unc. I had greedy local dealers, though. I think it cost me $8 per.

 

Quoted for truth. No offense to dealers, but dealers seem to love to take profits, but hate taking "losses". In the mid 80's it took a few years for the new silver prices to actually be reflected in coin prices. To be fair, its also a function of normal ebbs and flows. Dealers cannot afford to be picked clean, so when they believe the market is dropping temporarily, they will increase premiums. If they believe prices are too high they will reduce pay prices. Its this normal tendency that led to the creation of paper markets.

Btw, what do you guys think would happen in today's environment if silver went down to $18 and stayed there? Do you think the competition from internet sellers would force local sellers to adjust their prices downward more quickly than in the past, or do you think it would be the same?

 

Some of these are UNC and slabbed at the Mint, not raw, but you can see the eBay range is $40.- 65. based on whatever bells & whistles you want 'numismatically.' A LCS should charge less in store (no -13% feeBay) but yeah, available ~$11. - 15. over Spot for 'UNC' at POS $28. ....eBay as your reference.

4/1/2013: 1988 ASE $39.
4/2/2013: 1989 ASE $55.
4/2/2013: 1996 ASE $59.
4/2/2013: 2002 ASE $41.
4/1/2013: 2008 ASE $63.
4/1/2013: 2011 ASE $41.
4/2/2013: 2013 ASE $39.

If POS fell to $15, I'd guess better ASEs might sell +$8 on eBay. Eventually.

 

Here's one for you, Mike. Worth every cent, lol...

http://www.greatcollections.com/Coi...Proof-70-DCAM-Struck-at-West-Point-Mint-Label