Too Good To Be True?

I just saw a craigslist listing for MS 70 Silver Eagles
He's wanting only $48 per coin.
Not bad, not bad at all. Considering they're running about $80 on the low end on Ebay.
I'd take a 40% profit any day!
However, they are graded by ANACS, never heard of them before.
How legit could this be? Let's say they are legit, is it worth it?
I'd imagine they wouldn't fetch nearly as high as the PCGS Graded ones I'm seeing.

 

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ANACS is the third of the big three grading companies.

 

I'd give him $2-$3 over spot for them, I don't buy slabs, I buy coins. So in my opinion, it's not worth it.

 

ANACS graded MS70 coins will not fetch the same amount as PCGS or NGC. I don't think you will make much of a profit on these.

 

Well, if it was just a plain silver eagle I would just buy a roll myself online. But it being a slabbed one there is a collector value of sorts to them.
http://www.apmex.com/Category/1148/Perfect_70_Silver_Eagles.aspx
So I don't know why he's asking for such a low amount :/

 

If you've never heard of ANACS, then you have a lot more learning to do. ANACS has been around longer than NGC & PCGS, and at one time they were very highly respected. They've fallen somewhat in reputation because of changes in corporate ownership and staffing, so if you think you'll make a hefty profit flipping them on FleaBay, guess again.

Chris

 

Call me silly, but I'd never buy a slabbed ASE, or pay to have one slabbed for that matter. In my own mind, I see them strictly as bullion. Never intended for circulation, you rarely see any in less than MS condition. What does one in original government packaging cost compared to an MS70? Not at cost from the mint, but in the secondary market.

 

I know I have a lot of learning to do. Which is why I joined here and I ask opinions.
If I knew, I wouldn't resort to asking for advice.
I haven't heard of them because most of my exposure has been buying and selling on ebay and locally.
I've never had to get a coin graded myself but I was familiar with the other two because of ebay exposure.
Appreciate the info, I figured there was a reason he was selling them for so low.

 

It's a good idea to continue asking questions and seeking opinions about coins and other numismatic related items which you are unsure of. It's in all our best interest to do exactly that.

 

It looks like they average around $55 on ebay (some more, some less). Subtract out the $7 in fees and you're break even.

 

Obtaining a recent ASE in 70-grade is about as rare as getting beads at Mardi Gras, except you don't have to show anything to get them. Look at it this way. If this year is similar to last year, there will be 40,000,000 produced. Out of those, how many do you think will be graded? Lots. How many do you think will receive a 70-grade? Lots. Do yourself a favor. Buy a raw ASE, which should grade at least a 69, buy an air-tite for $1.00 and put what you saved toward a graded coin that really has some significance.

 

Go for it, buy em. But seems too good to be true. If they are real you could make some good profits off them.

 

I wouldn't go through all the trouble to be honest.
I would have preferred to just buy if I COULD make a few bucks.
It never crossed my mind until I saw the listing so I figured id ask.
I appreciate everyones input.
ill stick to collectibles.

 

One of the best responses I've ever seen. Too bad on a lot of threads, some peoples snarky responses probably drive people away from asking more questions.

 

ANACS is the oldest of the top tier TPG's. Their grade would crossover to NGC or PCGS with no problem. However, those coins don;t have much numismatic value, and I doubt they ever will, being a strictly bullion coin. So grading sure isn't something I would pay for.

 

Do yourself a favor and stay away from craigslist. You need to start out collecting/investing by keeping risks to a minimim. Craigslist is the opposite of that, not all transactions, but enough. It is one of a limited few places where you can actually find people selling out of the trunk of their car, in an alley with no questions asked.

 

IMO, a MS70 slab on a common ASE (not proof or uncirculated) is a waste of plastic. I'd save the money and just buy raw ASEs.

 

1995 W ... Probably not just bullion. But if u have one u r willing to sell me for spot +$5 let me know.

 

I thought the valuable 1995-W was a proof coin, not bullion. I'm thinking silentnviolent was talking about the basic bullion ASEs that have a mintage of millions every year since he/she said MS and not PF.

 

What are the ANACS graded 70's going on ebay's completed auctions? Sounds like this guy when on a buying spree on Coin Vault and loves taking a loss. I have a hard time trusting anything on craigslist.