NGC 1996 American Ealge MS 69 vs American Eagle PF 68 "to be or not to be"

Okay you Gurus are wanted, calling all Coin Talk Gurus!!!

Recently and due to the great excitement that Silver market has provided (value!) I jumped to purchase Silver coins, but two of the certified American Eagle NGC coins did not make any sense;

1) 1996 Eagle PF 68 Ultra Cameo Certf # 3380804-005 purchase price $62 and 2) 1996 MS69 Certf# 1984901-175 purchase price $58.50.

When checking the NGC verify certification of each at NGC, the Numismatic value on the MS69 is much higher than the PF 68. ????

Can someone please explain the logic behind why NGC would value a MS69 higher than a Proof PF68?

By the way I attended the Philadelphia's Coin Expo this week ....IT was GREAT!!! next Expo is at Baltimore (Nov 4th - 7th) Baltimore Convention Center (at the Harbor) Be there or be square is a great place to dine and have fun besides meeting great people!!!, I am attending this one also...

Thanks and regards to all you Coin Talkers!
Angelo

p.s.comming soon on my next post toned Morgans (AT vs NT ) "to be or not to be" I will be providing pictures to bring great toned pictuers ore coming soon...

 

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ASE Proofs are going to be more valuable than bullion strikes for common dates. Whether its a 68 or 69 won't make much difference. The prices you paid seem reasonable and I'd just disregard the price guide.

 

Even though I wouldn't rely too heavily on the Numismedia prices, it only makes sense that the MS69 price is higher than the PF68 price. The PF coins are handled with "kid gloves" throughout the production and packaging process and the MS coins are not. So, it is harder to find higher grades for the MS coins than it is for the PF coins. Considering how much care is taken when processing the proof coins today, a PF68 coin would not be considered a very good specimen.

Chris

 

1996 was a low mintage year for the silver eagles at 3.6 million (vs. 30 million for 2009). This means little to pure bullion investors, but it commands a premium to collectors. I'm not sure it should be MORE than the proof, but it is close. Graysheet bid price has the uncirculated coin at $40 and the proof at $56. Not sure what the populations of MS 69 and MS70 coins are for 1996, but that is probably where the additional $$ comes from. Many believe that silver eagles will take off for collectors after they end the series. If you really want a 1996, watch for the raw coins. Many are still in great shape and I picked one up for about $6 over melt that should go MS68 or 69.