silver eagles

Need anyone's and everyone's opinion. A friend showed me some of his silver eagles. I thought they were nice coins and looked in on the prices of obtaining them. Here is my question: Do you think this is a good set to get from the beginning? I admit, I don't know a lot about them, thought about putting them away but not sure if the back dates are worth the investment.
Any thoughts?

thanks

JD

 

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I personally am trying to put together a complete set of silver eagles. I think they are beutiful coins (or as some would say, bullion). I also like the low production amount minted each year. Although I can not forsee the future, from an investment standpoint, the low mintage sparked my interest. You have the option of collecting 2 sets, A proof set and an MS set. Some of the past dates (such as 1992 and 1993) in proof can be over $100/coin. Then we have the 1955-W, which in proof brings over $1,000. The MS set is more reasonably priced. Any way you slice it, If you admire the ASE's as much as I do, you can't go wrong getting those back dates.

 

JD
Don't try to think if something will be a good investment...that will get you sometime...coins are not a good investment...they go up and they go down...so if you want to do a set do it bacause you like them...not to get the $$$.

Speedy

 

you are right, speedy. I guess I thought it out wrong. I am not into collecting for an investment and I got caught up in the moment.

good thoughts, thanks

JD

 

JD--I know some guys who are more investers than collectors and they like ASE's...I think they are great coins to do a set of if you like them.
The Proofs are a little high but if you only get a few they aren't too bad!!

Speedy

 

thanks speedy

 

I do not expect Silver Eagles to skyrocket in numismatic value, unless silver does, because they are a collectors item and not in circulation. They may be minted in small numbers, but those are probably the numbers being collected.

Over the years, I have been buying rolls of silver eagles. I have around 60 pounds of silver bullion now. When I say pounds, I mean 1oz coin\round x 16. I also put a lot of bars and rounds back to avoid the minting premium.

IMO, I say again, In my opinion, with our government out of control and achieving record levels debt, record deficits, and record spending AND the fact that the Bush administration has made the devaluation of the dollar an official policy, precious metals may have their place in the future. The idea for the gubbermint is that if they devalue the dollar, then the deficits, trade and budget, don't look as bad; so they are lowering the bad numbers by using smoke and mirrors. The thing is, the Federal Reserve Note is not worth anything now, if they continue to devalue it, where will the worth go?

A large part of the enormous debt (recently put at $9TRILLION) the US has accumulated is held by other nations. Like Japan, China, France, Germany. They could call in their marker at any time and the US would have to default on the payback. Or, they might not be so eager to buy our debt, so where does the gubbermint get the funds to function? What effect will that have on the economy?


On top of all that, nations like China, Japan and middle eastern nations are slowly dumping the FRN as their reserve currency in favor of the Euro. "Experts" say that if they did it all at once, we would be reduced to a third world economy. Luckily, they are doing it slowly, as they have nothing to gain if their biggest consumer is in smoldering ruins and reduced to nothing. But who knows where our economy will stand if they continue to devalue the dollar, and the world shifts to the Euro as the preferrered currency for international exchange.

If all that comes down at once, assets like silver bullion might be nice to have. I have never really considered Silver Eagles for their numismatic value, although in 30 years inflation may increase their worth.

But in the event the politicians in Washington drive our economy into the ground, I think the metal value of the silver coins will be nice to have. At $7 an ounce, it is not a huge investment to make. If you buy every month over the span of a decade, you can accumulate a lot of metal without a large initial expense. At least that way, you are converting a Federal Reserve Note that has ZERO intrinsic value into a precious metal asset that does have intrinsic value.

Something to consider.

ymmv

 

There is one more possibility! The old U.S. of A. might dust off the records from 55 years ago and tell these same countries to pay back the money we loaned them during WW2. Either that or else tell them we will start paying them when they see fit ot balance the books.

Just one persons oppinion.

 

Not that I disagree, but the problem is that since the republicans have proved themselves no more fiscally responsible than the democrats, when the US defaults on those loans, there will not be anyone to buy our future debt, and they run our government on debt. Since the republicans spend more than they take in, that would cause a problem in financing those record levels of social spending they were bragging about in the campaign of 2004. We have to make good to our creditors so they will buy our future debt.

"...the borrower is servant to the lender" Proverbs 22:7


[ramble]I have a another opinion of why the gubbermint is so insistent of spending US into a deeper and deeper hole.

Back in the first term of Klinton, he announced that the money Americans had in pretax 401k funds technically belonged to the Feral Gubbermint because until taxes are paid, a person is not "entitled" to that money, that they earned. Slick Willie went on to say that in an extreme governmental fiscal emergency, the government could legally take those billions of dollars in the 401k plans and use them to fund the government. Since the republicans are basically the same big spending, big deficit types, I would bet those words by Klinton have been ringing in their minds. So they are trying to spend US into an emergency so they can steal our 401k funds from us. The collapse of the social security program just might give the Feral Gubbermint the excuse they want\need to steal our 401k funds. That is why my 401k deduction is only the amount the company matches, the rest goes into post tax funds where the Feral Gubbermint will have a harder time stealing it from me. [/ramble]

In such an event, having and accumulation of precious metals would be a HUGE benefit.


BTW, I am a conservative so I have no home in either major political party.

 

That's 1.097 pounds in the common avoirdupois measure, or 1.333 troy pounds. I don't know of any weighing system in which 7,680 grains = 1 pound.

Those 1 oz. coins are 1 troy ounce, - 480 grains. That's the standard for precious metals, coins and jewelry. There are 12 troy ounces to a troy pound, for a total of 5,760 grains; although weights of gold, silver, etc., are usually just stated in ounces, and you seldom see reference to a troy pound.

An av. ounce only weighs 437.5 grains, so it's lighter than a troy ounce. However, since av. pounds are 16 ounces, they weigh 7,000 grains.

Your 16 troy ounces would be 1.333 troy pounds, or 1.097 avoir. pounds.

 

WOW, talk about "splitting hairs"

Allow me to rephrase my previous statement:

Eyes gotz lots of dat dare silva puts backs fo tuff times.

 

Sorry if I offended you. That was not my intention.

There are a lot of newbies reading this forum, and many of them are unaware of the different weight systems, which our school system does a pretty poor job of explaining. Since one of the purposes of this forum is education, I was simply trying to share some of the knowledge I have acquired over the years.

 

Dont u guys find it weird that the Soviets actually listened to Eisonhower, It seems to me that they would do their own thing but still be allies

 

thanks for the info roy, I was wondering what the "weight" of a silver half was, my coin dealer said he just took over 40lbs of silver to sell, had to buy a motorcycle. I didn't know how much in coinage that was.

JD

 

Oh, not at all. I am pretty much "unoffendable". I have rhinocerous skin, real thick.

I always wondered about those "troy pound" silver rounds.

 

< There is one more possibility! The old U.S. of A. might dust off the records from 55 years ago and tell these same countries to pay back the money we loaned them during WW2. Either that or else tell them we will start paying them when they see fit ot balance the books. >

Sure that's a good idea? With the huge amounts of deficit spending we have been doing in the 60 years since the end of WWII and the amount of that debt held by the government and citizens of those countries "balancing the books" would probably means that WE would have to come up with a couple trillion dollars in cash to give to THEM. I haven't looked up the figures but it would not surprise me if our annual deficit funded by foreigners didn't exceed the amout owed to us by those countries for the entire amount we loaned them during the entire Second World War.

 

Don't forget to add in the rate of inflation over those 55 years. Want to be fair about this thing, don't we? Charging a simple interest of no more than 3% per year, should add a little to the kitty also.

 

To call in on the debts made to the US would be silly at this point, because it would devalue the $, which means these folks would be paid back in monitary units that are worth less than the units they originally loaned. Besides this, a vast majority of our national debt is tied to domestic lenders, i.e. the very wealthy. Repayment only increases the disbalance that is already growing at a healthy pace, and would act as a huge inflation shock.

I also think the US needs to rethink it's stance on debt forgiveness from WWII...


....did I say that?

 

While your at it we might as well also build them a monument. That should make everyone happy, and we could have another colored ribbon to wear.

 

maybe the mint will make a commemorative coin about it too