After researching the web and some periodicals, I decided to discuss selling some of my silver eagles to a reputable local dealer. His response was that he would pay roughly 0.50 over the current bullion exchange. I didn't get into any of the details of rated coins, but if I had this to do over, I would have assembled five pieces from the same mintage year and asked for a selling price for each. The differences in the actual pieces being: Loose unpackaged, but very much like new, or BU Packaged in a retailer's blister pack, (like Littleton's) In a slab with a NCG MS69 label A Proof from the mint in the little presentation box A Proof in a NCG slab with the PR69 label Between the web and the periodicals, the values of each piece are all over the map. My concern is what is the value when it comes time to sell these. I have a decent eye, but I can't see the difference between one or the other, (of the same class, BU or PRF). In addtion, if I had a sealed mint box of these, what is the harm of breaking the seal? Is it assumed these are all at an MS63 grade until proved otherwise? If the purchase price is 50 cents above, then it seems to be at my advantage to inspect the contents for what could be additional value. This is a bit long, but we get fired up over some things. Thank you
Basically what you have are bullion coins so they are worth their bullion content and that's about it. Yes there are some collectors who will pay more for them, but usually not unless they are slabbed by one of the 3rd party grading companies. And it can cost more than the value of the coin to get them slabbed. Most dealers will buy the coins readily, but only for bullion content. Some will pay 10% less than the bullion value and some will pay more - it depends on the dealer. But if you have found one who will pay 50 cents more than the bullion value I would say that is pretty good deal.
Gdjmsp Thank you for your input. What is your opinion about the SE mint box seal? My gut tells me there are potentially rounds that may be of better than average quality. I'm not interested in making money, but I also like to feel confident when making a financial transaction. There is also the thrill of handling the merchandise.
Slabbed Eagles on a good day will fetch a little higher price as will Proof Eagles. I think the only BU Eagles worth more; the 1996, 2006 W and the 2008 W with the reverse of 2007. ASE proofs with a higher value would be 93-95, 95 W (big bucks) and 2006. What year is the SE sealed mint box?
For these two I disagree with GD. You can make more than .50 over bullion on e-bay and some of the proofs are worth more than others. ex. http://cgi.ebay.com/1995-P-Silver-Proof-American-Eagle_W0QQitemZ120291300413QQihZ002QQcategoryZ149933QQssPageNameZWDVWQQrdZ1QQcmdZViewItem This is an extream example but just something to keep in mind... With these I would be more selective about how I would sell them. Dealers are generally going to give you the lowest price because they have to make money when they sell them. Keep that in mind. When auctioning there are costs/time involved but you can set low limits to make sure you at least do as well as you would with the dealer. Do some research - learn what dates are worth more and then decide how you want to sell them. I would not sell them all at the same price - but that's just my opinion. Good Luck and welcome to CT
Proofs are genrally worth more, but not much. Yes, the date can have an impact as well. But the OP asked about of Silver Eagles - he is not going to have a box of Proofs. And the odds of having a box of a better dates is unlikely. Thus my comments. I will also agree that you get better prices on eay that you can from a dealer. But there are caveats to ebay. Like you need to have a good reputation before you get decent prices - a new seller would not have this. You also have to pay fees, and hope you get paid in the end. All of that has an impact, so ebay is not as good as you may think in this situation. And why anybody would buy the bullion coins on ebay for higher prices when they can go to a dealer and get them cheaper - well, ebay and some of the people who buy there never cease to amaze me.
69's are as common as dirt. Approximately 1 coin out of a 1000 will grade 70. How many are in a box ?
I think my advice specifically for proofs is right on and I believe I understood the question ~ but the OP would have to chime in to know for sure. Your answer was general and assumed it is only MS - I just wanted to give a little additional information in the event they were not all MS as I read the OP different. No matter what do - not handle the coins without cotton gloves and then only on the rims - don't breath on them, cough on them, or sneeze on them or you will damage the coins... Again, it really depends on what he has and I just advised him to understand there are some coins worth more than others and for those eBay may be a better venue regardless of how much he has sold. You still have to understand how to sell on eBay (Very Good Pictures and write up) or you will lose money almost certainly. In the end the dealer might be the right way to go even with a variety - just understand the potential value of each type/date. Ask the dealer questions and understand the situation well enough to try to gauge the offer as fair or not.
Thanks I appreciate the responses to all. Passion indeed influences a hobby or favorite pastime. A box has 500 pieces each. I saw three boxes, 2004, 2005, and 2006. I noticed the 2006 box's seal had a "wp" as opposed to the "W". I know that year involved some 20th anniversary mintages. Whether the different seal denoted something different is anyone's guess. Given the fact that the SE is not used in everyday commerce, I would make the assumption that only the immaculate, or mint-defected, example would differentiate itself from others of the same mintage year. Attrition, or extensive handling of other pieces will determine the future value of these. Silver did rebound a bit today. Regarding those proofs. I have looked at slabbed and mint-sealed, (I assume), examples side by side and I don't see any difference between these, whether PR-69 or 70.
Is that 500 each of those three dates? With or without the "W" mint mark? or three proof boxes within a box of 500 SE coins? Are the coins each in individual mint boxes? I would be opening the 2006 box to see what's in it. 2006W Uncirculated and Reverse Proofs are worth a premium over melt.
In my opinion, ASEs are always worth a small premium to melt value since silver in coin form is already certified as to weight and purity. $0.50 over melt is reasonable since you avoid the hassel of Ebay. Anything under melt is robbery. I see no harm in opening the boxes to inspect what is inside. It also gives you the chance to sell coins individually or by the tube instead of all at once. Another long shot is that someday the Mint will discontinue the ASE series, and when that happens the coins might begin to command a numismatic premium which currently doesn't exist since it is one of the best looking coins the Mint has ever produced.
That echos a few other comments that I had gleaned from others. It's difficult to believe when a dealer applauds the fact that the box is sealed. One does wonder what is in the box. I'm just about convinced that the bullion coins are just that, bullion, unless they are graded proofs. Now if Ag would just rebound... What do you all think, does the general comments about the SE apply to all of the metals in respect to graded and not graded? Thanks
