Hello - i have been silver bullion investing for years, but recently have started to pick up a few MS70 American Silver Eagle coins, graded by NGC. Right now there seems to be a big premium on these, especially for recent years (2010 - 2013). Anyone have thoughts on what a fair price is to purchase in this market? I have seen coins range from $75 to over $125, but obviously it differs with years and mint. Just wanted to get some ideas and make sure I am not over-paying. Thanks and have a great day!
I think anyone who buys slabbed bullion overpays, but I know the ASEs cross over into coin collecting, so each to his own. I'd never bother to pay premiums for a graded ASE.
It's a gimmick in my estimation. Most raw ASE's are going to grade 68 or 69. Why would you pay an extra $100 for one grade point higher? The difference between a 69 and 70 can only be seen under 5x magnification anyway. How closely are you going to be looking at your coins?
I'm not sure how "fair price" and "market price" differ. Are you trying to estimate what stable price may emerge after short-term premiums wear off? It sounds like you're buying these as an investment, in which case I'd just stick to anything I could get at the lower end of typical market prices. A lot of folks will chime in to tell you that MS70 coins are a big sham and that nobody who's anybody can tell the difference between MS70 and MS69 and buy the coin not the slab and on and on. That's all well and good for a collector with an opinion, but if you want to make money I can't imagine anything mattering much other than looking at how other MS70 coins have trended. I'm not very on top of moderns, but I recall reading posts by others on this forum tracking their price performance over time and so many tended to start out with very high prices, drop quickly, and steadily decline from then on. But Silver Eagles may be a totally different market for all I know.
If you like slabbed coins go with the 69s. I picked up a few MS69 ASEs for $40 a few weeks ago from my LCS. I also bought two MS70 Anancs ASEs that originally sold for $130 for $40 each.
They're not. Ten years ago some of those 70 coins that sell for $125-$150 now, sold for 10 times that.
I have to agree with most others here OP. AN MS70 is not rare, most of these things are bullion anyway. I simply do not see them holdling their value. Personally, I would go to a show and cherrypick through dealers ASEs. Pick out ones YOU are happy with if you wish to have a collection of different dates. This way the collection is personal to you and your tastes. Change yoru mind in the future? Oh well, they are still worth bullion. I simply do not believe a 70 is worth 3 raw ASEs since they are mainly held for bullion.
Thank you everyone for your posts. There seems to be a market for these, but I hear you on long-term value. Maybe I will try to sell the ones I have and make a few dollars now instead of sitting on them. Thank you and have a great day.
Yes, good point. It took me some time with a loupe and a bunch of slabs, and I'm still left scratching my head from time to time.
Op, one thing. Never let us dissuade you what YOU want to collect. I just gave you my opinion, I didn't know you already owned some. If you like them, good for you. Have fun. I am surevmost of the ugly little things i collect most here would hate.
You're closer to being able to do it than I am, and we fall in with the majority of collectors who could not tell the difference either.
