I've been vacillating over starting an annual collection of regular, uncirculated American Silver Eagles for a while now and am just not sure if I should take the plunge yet on buying the whole run of ASEs from 1986 to 2010 to get this set started. As I speak, silver is at $19.74, and I'm looking at spending at least $650 to buy all 25 ASEs and a Dansco to house them. Of course, if this is purely a numismatic venture, the price is less of an issue, but I'm wondering if anybody has some inklings that we are in for a massive climb (so I should buy now while silver is still under $20 an ounce) or if we are heading for a significant dip soon (and I should wait). I duly appreciate any advice! :thumb:
All I can say is that the so-called specialists/analysts in the silver market (who are really just trying to sell you something) have been saying that silver might go as high as $50 an ounce FOR MORE THAN 10 YEARS! Sooner or later, they might be right, but it may take another 50 years. I'll be long gone! If you want to be involved in numismatics, you should be doing it as a hobby, not as an investment. Chris
I happen to believe that silver prices will rise a lot. But you should never purchase anything based on a recommendation you read from someone on the internet. If you don't do your own research, you won't know how to react if/when the price of silver rises, or falls.
ASE's are a beautiful coin to collect, the design, modeled after the walking liberty .50 cent piece, is in my mind, one of the most striking in all of numismatics. You pay a slight premium over bullion value, but the premium is small enough at this point that if silver prices went through the roof, you would stand to make some money. I echo the opinion that you should collect purely for the joy of collecting, but with non-graded/slabbed Silver Eagles, at the end of the day, you still have 25 ounces of silver.
Go For it.....as I truely believe that silver will go up! I have seen a dime in my time worth 10 cents or a double scoop of ice cream on a cone now that same dime is worth $1.43 spot /melt . 37 years ago gold was $35 an ounce today it's over $1200. Yes coin collecting is a hobby but it's an investment too! I totaly disagree with other post above.....as you do invest in coins and like stocks bonds and PM's you can win and loose. Buying PM's or bullion coins is an investment as they are one that unlike other investments make some loose some value but will never go to " ( 0 ) " ZERO....as for silver look at a 5 year chart @ "Kitco" you'll see the line goes from the bottom left to the upper right...with a few bumps in the road...but never the less it's up not down.
Thank you for all your advice. I know it's really very difficult to say for certain what silver futures are like, or else we would probably all be buying (or selling) silver right now. But thank you anyhow for at least being a sounding board. I have been thinking about collecting ASEs ever since I first started in the hobby back in the mid 90s when silver was around $4 an ounce. But I was barely in my early teens then, and I didn't really have the money to follow the series through. I'm by no means floating in money now, but I have enough to lay out to get caught up with the set and then keep it going annually. Great points about the numismatic versus investment approach. Even though they really aren't categorized as "numismatic" coins, I do appreciate ASEs for both their classic Weinman design and their place in the world as highly recognizable vessels of precious metal.
I think you should wait for silver to cool down, if it does. Right now probably wouldn't be the best time to jump on the silver train because of the high prices. Wait for it to drop back down to $17-$18 and then buy.
