I always buy a silver eagle each year. I love the coin and have a complete set (non proofs). I'm noticing sales on ebay this year of MS70 silver eagles. Although I believe you will eventually get an MS70 coin from the buyer, it is a little baffling to sell an MS70 coin that hasn't yet arrived from the mint. Does the mint already have these MS70 coins but they're waiting until early February to distribute them to sellected dealers? How do I become a distributor for the mint? Why doesn't the mint leave out the middle man and just sell them on their website. Baffled in NY. http://cgi.ebay.com/2010-AMERICAN-S...iewItemQQptZCoins_Bullion?hash=item27aebf3c86
No, it's easy. The sellers know that the TPG's are slabbing these as MS70 left and right - and yes that includes NGC and PCGS. So they know it is a simple matter to get one - they are assured of getting all they want. So they offer to sell them in advance because people believe the hype that the MS70 coins are valuable - when they aren't. Buying one of these MS70 coins and paying high prices for it makes about as much sense as buying the junk you see the hucksters selling on TV where you get a coin made by a private mint with 35 cents worth of gold in it and you pay them $20 for it. No. See above. Easy, go through their process and submit your application. Of course you have to have a net worth upwards of $5,000,000, you have to done several millions of dollars worth of business in previous years, you have to have large amounts of cash sitting in the bank etc etc etc. Because if they did it would cost them a fortune. They sell them to the distributors by the tens of thousands at a time. And the distributors pick them up. Now imagine what it would cost in time, effort, employees etc if the mint had to ship all of those ?
And now I know the rest of the story! Thanks for the information. I'm often curious at the processes at the mint. They usually make sense if you know the details. I still wish they would make 2009 and 2010 proof ASE's. I bet a few will surface in a couple years and bring in some big bucks.
The coin in the holder on your link appears to be a 2009, not a 2010. Plus, if you are going to buy an MS 70 dont buy it from a grading service from some guys basement.
They probably can't show the 2010 ASE yet because it won't be available from the mint until early February. I'm not a slab guy so I wouldn't buy them anyone. I was just curious about an MS70 coin that hasn't even been seen yet.
I wouldn't buy 10 bucks worth of silver for fifteen cents from the guy running that auction!! What a maroon! Joe
If I am going to buy an MS70 coin, it will only be slabbed by PCGS or NGC. You can buy that same 2010 ASE for about $12-15 less online and then put it in an airtite. Most of the ASEs would grade MS69, and it is tough to tell the difference between an MS69 and MS70 anyway. TC
They are available now. I saw rolls and rolls of 2010 silver eagles at the local show in Muncie Indiana Sunday. Prices ranged from $21 to $23 a coin.
