I appreciate everyone putting up with my new-guy questions. Here's another. I decided to buy some ASE's because I thought I could start a collection for my son. I went back to his birthdate and purchased NGC MS70's through 2016. They were not too expensive and are beautiful coins. I'll add one each year with him and it can be a nice entry for him in to coins when he's old enough to participate. My question is, do you prefer proofs? Should I look for graded PR70's? Do you like them with the original government set? I thought I'd start with the MS70s because they were quite a bit less expensive and in case he ends up having absolutely no interest. But I thought I'd see what other people do? Sent from my iPhone using Tapatalk
Nope, no proofs. Strictly the bullion versions for me. Bought one for each of my kids in their birth year.
Do you go for them graded? I most likely overpaid but the MS's in a slab cost less than had I bought them and sent them for grading myself. Not sure if it's worth the grading though. Sent from my iPhone using Tapatalk
Only raw. I think the consensus of most is that with the bullion versions, it doesn't make sense to get them graded. It's bullion. Now with the proofs, since those are manufactured and marketed as "numismatic" products, it would make more sense to go for graded. But since I don't normally purchase proof coins, you can't go by me.
Let me ask you this. Can you tell the difference between a PF69 and a PF70? Will your son be able to tell the difference when he gets older? Do you realize that if your son decides to continue this collection, when 70's are listed for sale as they are released by the Mint, the costs for those will be very high because of the initial feeding frenzy? If you answer "No" to any or all of these questions, then why go for 70's? The 69's will be much cheaper. You'll save money, and your son can save money in the future. Chris
Hey Chris, It's a great point and actually I've thought about this. Clearly I can't tell the difference. I guess it came down to the difference in cost. First, I'm sure I overpaid. But I bought a 2014 and 2014 MS70 for like $40 plus a few bucks in shipping. The 69's were only a little cheaper. I figured hey if I'm paying $10 more a coin over the course of a lifetime to have a "perfect" coin I'm not breaking the bank. I didn't want to look back 20 years from now and say wow I could have had all 70's for $200 more total! Of course this logic only applies for a $40 coin and not a $4,000 dollar coin where the 69 vs 70 grade would make a huge difference. The 2016 was a bit more. I paid $65 for the MS70 first day issue. I'm sure I overpaid but I got caught up in the bidding [emoji24] Maybe I'm thinking about this all wrong and that's why I very much appreciate the feedback. Thoughts? Sent from my iPhone using Tapatalk
Fyi, Ms70 eagles after 2005 are common as dog poop and graded without standard for a "perfect" coin. The ones sub 2005, sub 2000 really can bring big money.
You've fallen into the "Buy the slab, not the coin." syndrome. Honestly, if you really could tell the difference between a 69 and a 70, you'd probably discover that a lot of the graded 70's should really be 69's. FYI - Special inserts like FDOI, First Release, and Early Releases mean nothing. They are no more than a sales gimmick. Don't blame the grading services for these gimmicks. Blame the hucksters who pawn them off on the uneducated public. Chris
Yeah I think you're right. Perhaps I'll look toward 69's and save the extra few bucks. Sent from my iPhone using Tapatalk
My 2 cents worth - IF you are going to buy graded coins, get the 70s, as that is the only place I see any price appreciation (69s go for about the same as a 60). Also, get them with a mint mark (S or W), not graded bullion. As previously stated, stay away from the "special" designations, such as First Release, etc... Personally, for my nephews, I am putting sets together by giving them 2 coins a year (birthday and Christmas, current year and earlier year) to put in the Dansco albums that I gave them with the first coin. Most/all of these are the bullion version. By the time they are 18 (11 and 17 years from now), they will have almost complete sets (36 & 42 coins, respectively), if the ASEs are still being produced. I will probably throw in some of the missing dates on other occasions to help them get a complete set on their 18th birthdays (or maybe 21st). P.S. - they will probably end up with most of my coins when I die, too, lol.
I like the proofs just for their looks , as for 69 and 70s , true some 70's are 69s but if you really start to look grab a few 70s and 69s and look for a coin with no visible defects , it's hard to do but not impossible . If you like 70s just make sure to look at enough that you can pick the best .
Question on that. One of the ASE's that I bought said struck at the West Point Mint. But there is no W. Is this because it's different than a burnished coin? Is this just a normal Bullion with a marketing spin? Sent from my iPhone using Tapatalk
Technically minted at West Point, but as a bullion coin, not a Mint regular issue. I don't know if it will make a difference in the future, just would be my preference. It might even be a better way to "guarantee" a true 70, versus a mass submission of bullion coins to a grader.
Got it so there's Bullion, Brandished and Proofs? I might have overpaid for this one thinking it was a Brandished coin but it wasn't too expensive. Sent from my iPhone using Tapatalk
We have ALL overpaid for a coin or two, or more. As long as we learn from our mistakes and/or don't get caught up in any hype or excitement. FYI - when I first started collecting Eagles, I made the mistake of overpaying for slabbed 69s. Thankfully, not too many. Now, for the most part (99%), I purchase them raw.
I have a 14 day return. I'll post better pics once I get it. I bought this coin from the same seller also. Sent from my iPhone using Tapatalk
To me, bullion coins are an investment in a convenient way to own an ounce of silver. I don't see any real upside to the graded ones. I also have ASE proofs as collectibles. With one exception, they are still in the original government packaging. But that's a personal preference of mine -- and not a claim on whether that's the right way to do it or not.