I am debating on making an investment on a 2008 silver eagle w/ 2007 reverse. Just looking for input as this is a fairly large sum for me to put into a coin. I am expecting to keep it for at least 15 years before I am ready to sell it. I understand the risk involved buying a coin as an investment, but was just curious what others opinions were.
Tough call Got your crystal ball handy? Don't get me wrong, I'd love to have one for my collection, but for that alone. Not for investment as I believe these won't appreciate much in years to come. MHO...
One of the risks is the silver eagles spot, so if the coin turns you are SOL. Also the price has gone up a lot in one year, selling for more than the smallest 5 dollar 2008 gold buffalo gold coins sell for. I missed these coins last year and was asleep at the switch while they were being released, but have no interest in paying full retail for one of these now. I think the mint could release another hit coin later this year and have my money ready for the one that may happen then, Silver eagle proof and uncirculated or the buffalo gold proof coin. One of those three could do very well if it comes out low mintage. That said, long-term the coin with the 2007 reverse may go up in the long run because it is such a low mintage. I am not saying it isn't a good coin to own, only the best time to buy was right when they came out, I remember even after the sell-out and discovery they were $100 graded.
Personally, I think you are better off with plain old ASEs. Over the next 15 years, there is a very high probability that silver prices will rise. But once you introduce numismatic premiums into the picture, it's less certain that you will make money. You're making something that is simple a lot more complex. Just my opinion since nobody knows the future.
That's a tough call. I would think you shouldn't expect to lose a whole lot, but I don't know that you'll gain a bunch either. That's one coin that seems to have "found" its price range already. You're really not at downside risk of spot price changes, because the coin seems to be a $300-500 coin, with only $14-ish of that for the silver content. I'm big on the silver eagles, and eventually need to get one of these as well as a '95-W, but, ya know, car payments, mortgage, etc. All those annoying things are getting in the way of what's truly important: large, shiny coins : )
I have one and was fortunate enough to get one at a very good price. It is NGC at grade 69. Let me tell you a little background about this first, you probably already know all of this. If you do maybe someone else will gain something from it. The burnished dye series that this coin is, all have low mintages. Why is this? I think it might be that ASE collectors are more into the Bullion type and/or the proofs, so they simply don't sell as well. I mean your talking millons vs hundreds of thousands. After saying that the burnished dye may actually be the one to collect for the long haul period. The mint has stated the maximum number of the '08 with '07 reverse that could have been minted is 46,000. What the mint does not tell is how many of these coins they found themselves and did not not release (if any). I am not an error coin collector, but what I have read makes this important. If all 46,000 got released that would make this coin to be about ten per cent of the total mintage, which according to what I have read this is actually pretty high. I have also read that virtually all that are going to be slabbed have already been slabbed. If looking at the coin strictly as an investment I would first want to know what the NGC and PGCS populations are on the 69 and 70. I think that would give you a better idea to base your decision. I could sell mine for virtually double or a little more than I originally paid for it. Luckily I bought it as a collector so I really don't care to sell it. But, in a few years if it went up enough I would definitely be tempted. If I didn't have one already it would be a tough decision whether I would buy one now, so I guess I have brought this sort of full circle. The old crystal ball is the only real answer, but if you get one at the right price I would think there is more upside potential than downside. Hope this helps.
I would say not to until the mint tells people what they are going to do with the proof series. The halt of production on the 09 proof ASE's has put a spot light on the coin and drove up prices that normally wouldn't drive up. And though the two coins are technically different, some coins due effect the value of others based on the mints actions. I don't believe the Lincoln commemorative dollars would be the hit they were without the discontinuation of the 09 ASE proof. It is a bet so to speak, that the mint will mellow out and become more stable next year with the ASE proofs. And please correct me someone if the mint has commented already on the future of the ASE proofs.
Thanks, it has been awhile hasn't it. I've been one of those "lurkers" for the last couple of months. So much to do it seems.
Well, the wife says that she doesn't like the idea and after thinking and reading here I think I will stick with silver coins right now. Thank you all for your reply and information. Though I will miss not having one in my collection right now, I may still get one in a few years.
My local coin shop had 2 of these right when they came out and I didn't realize the reverse had been changed and when i found out about the change I went back and they were gone. Been kicking myself ever since. Speaking of varieties, I need to go to the coin shop and see if they have any of the formative years 1c proof DDRs.
This one's a crap shoot. On the one hand, its mintage is only about 50% more than the pricey 1995-W and many times smaller than any other issue in the series. On the other hand, a variety like this is likely to have less demand than a regular issue.
If you didn't realize the reverse had been changed, then how do you know they had two of them? Not all the early 2008 W Uncs were rev of 2007. The rev of 2007 pieces were kind of scattered through the shipments for the first few months.
If I could pick one up from a dealer in the original packaging and COA, would this have been removed from the capsule and evaluated for grading then placed back in the capsule and/or replaced? I have been picking up PR69 or MS69 (W) proofs here and there. Obviously all graded. This coin would not be. Is ungraded worth a 300 dollar price?
:whistle:15 years Keeping your (100 $) SAVING in the BANK compare your AME reverse 2007 is much more HIGHER in RETURNs for AME. I believe it will be 5xs of original prices u just paid for. I do have 1976 2 Uncut sheet of 4 . I am not sure when they resume selling UNCUT sheet maybe about 1981. So I am keeping this Uncut sheet of 4 1976 Series Saint Louis with asterisk after the number. The Market value of 1976 with asterisk now on a single note is about 25.00 US dollar. http://s817.photobucket.com/albums/zz95/edwinrd117/?albumview=slideshow
Not to me. Personally I will skip buying one, just too high a premium for me. And yes some of them could have been graded and removed because they came back with something less than a 69 or 70.
This is an opinion only that may turn out to be completely wrong, but it is free. If you can get one for $300.00 with everything it is shipped with from the mint, I would buy it if the coin looks presentable after you get it. I'll go out on a limb here and say I have no idea what the value will be years from now, but I really don't think you will have to worry about taking a loss on it. Just like the Lincoln Chronicle Set. If someone bought it from the mint I have no idea what the value will be worth years from now, but have no doubt it will always be worth at least what the mint sold them for to include the S & H.
