Silver Eagles, Redbook, and decisions question

Hello All,

Just looking for some thought, education, and advice.

I am partial to the Silver Eagles and I have a number of Proofs. My question to the group is:

If you were going to continue to purchase Silver Eagles would you go for proofs or graded coins i.e., if you had a choice between a PCGS or NCG graded Silver Eagle or a Proof in the box with the COA, which would you purchase and why?

I am confused by this because the 2011 Red Book only provides values for Uncirculated and proofs. No other grades are metioned, so how do you judge the value of what a graded silver eagle is worth vs. a proof? (Don't say it is in the eye of the beholder either guys).

Do you all think a proof is worth more or a graded one?

Thanks for the insight.

 

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Regardless of whether you have a proof, burnished, or bullion ASE, you still have a coin with 1 oz of silver in it. ASEs are something I don't buy graded because I don't see the point of having an investment graded by a TPG. I buy the bullions, get a good price on them, $3 over spot.

That being said, I would buy the proof in original packaging with the U.S. Mint's C.O.A.

 

and that is why the Red Book doesn't list grades.

 

Other grades are not listed because the ASE are NIFC.

 

:thumb:

 

Silver eagles,

I think graded coin as MS70 is worth more than Proof 70 this is just my own Observation in RED BOOK prices.. graded coin is much more valuable MS++ on a majority basis. My own opinion...:hammer:

 

Thanks for the info, but I am new at this. What do the acronyms ASE, TPG, and NIFC mean?

 

Are you basing that on what current asking prices on eBay BIN's are?

MS-70 is not proof, and there's a trend starting to overprice coins that grade MS-70 by a TPG.

Also, Redbook is not an accurate guide for fair market values on coins. I usually knock about 20% off the price quoted in Redbook to get a more accurate fair market value.

 

ASE=American Silver Eagle

TPG=Third Party Grader, like PCGS, NGC, etc.

NIFC=Not Intended For Circulation, a coin made specifically for collection purposes only.

 

I am partial to the ASEs as well...beautiful design, large, shiny, PM, etc. Buy what you like of course. I have a few proofs/burnished ASEs purchased directly from the US Mint. Other than that I buy only raw bullion ASEs as close to silver spot as possible and only when I see the silver spot price dip. TC

 

I too like ASE but don't buy that 70's crud....I do have a few graded 69's but it's only because it was the pretty much the same price as bullion coin. I do both the proof and mint ones.
Mostly just raw ones though. And I used to get them each and in the 2x2's but now I like to get a roll at a time.
Have fun and grades are important in coins for sure but these are just bullion to me.

 

There are only a few silver eagles that command any kind of premium graded or not so I'd say just buy the proof and don't worry about graded coins.

Join the Heritage Auction site and browse their history of ASE auctions. That data will answer all your questions about how the market treats graded silver eagles.

 

You should also be aware that the U.S. Mint stopped producing Proof SAE's in 2009, and there is no indication that the program will ever be reinstated.

Chris

 

Actually there is Chris:

The United States Mint issues these coins annually. With your enrollment today, you will receive the 2010 American Eagle Silver Proof Coin as your first product.
American Eagle Silver Proof Coins are collector versions of the official U.S. bullion coins and are only available in the one-ounce size. American Eagle Silver Proof Coins are minted at the West Point facility and bear the "W" mint mark. The obverse design is Adolph A. Weinman’s full-length figure of Liberty in full stride, enveloped in folds of the flag, with her right hand extended and branches of laurel and oak in her left. The reverse design, by United States Mint Chief Engraver John Mercanti, features the heraldic eagle with shield, and olive branch in the right talon and arrows in the left.

http://catalog.usmint.gov/webapp/wc...ctId=10365&langId=-1&parent_category_rn=10201

 

The ASE to me is a nice way to own silver but is overated in proof and I stick to buying them raw as close to spot as I can. IMO if you like the design a nice slabbed Walker half would be a nice buy.

 

I would buy the uncirculated ASEs and buy them graded if possible. Frequently, you can purchase graded ASEs for a dollar or two more than ungraded. As you can tell from many other posts, very few collectors respect them now. Similar to baseball cards and other accidental collectibles, it is frequently the items that are neglected that become the prized collectibles 30 years later.

 

Then someone should tell the U.S. Mint to change this page from their online sales catalog.

http://catalog.usmint.gov/webapp/wc...1&parent_category_rn=10191&top_category=10191

 

I agree. I'm going by what I posted from their site for now, as that is the latest info about the program.

 

So completely true. The Red Book is a great overall book on coins. It should not be your only source of evaluations or prices. Use it as what it is, a GUIDE.

 

As usual almost any answer is just a suggestion since it is really up to you in the end. Be carefull of any choice based on others preferences since eventually you will either be happy or mad for listening. Usually with such questions you'll hear buy the highest grade you can afford. Some may prefer proofs.
Me, I just buy what I like regardless of grades, future possible values, suggestions of others, present prices, etc. If I'm wrong, then all I have to do is look in a mirror and yell at me.