Numismatic Value of PSEs?

I have almost a complete set of proof silver eagles and was going to sell off seven of my redundant dates and use the money to keep saving for the ever-elusive 1995W. Ebay fees are nuts, so I went to my local coin dealer and handed him seven PCGS slabbed PR69 proofs ('86, '87, '93, '00, '01, '02, and '03).......and he offered me $2 over spot silver prices, or around $37 per. He told me they have no value as a collectable and only carry a small premium over spot (the $2).

I then called another shop, and was pretty much told the same thing.

Am I missing something here - ebay and teletrade are bringing in 58-70 bucks consistently, which seems to be back up by prices sheets for P69 DCAMs; is the local market that bad, or is my favorite coin just not that sought as a numismatic collection? fSame shop paid me spot for a roll of PSEs.

FYI, eagles are all I collect and not super knowledgeable on the business side, so any input is appreciated!

 

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Welcome to CT! You would do much better selling to collectors. Try posting a few here on CT on the appropriate forum of course. Your experience is quite telling though. People are paying huge premiums for silver proofs (not just ASEs but coins from all around the world), and it makes me wonder that when they go to sell someday they will never recoup that premium unless silver prices really skyrocket. TC

 

Thanks Topcat; I don't worry much about it, I know the collectors are out there and I have no plans to sell my main collection, it just surprised me. You mention world coins, my new baby just got here today from apmex, I love the look of these:

 

Wow, nice Silver Kangaroo! The Perth Mint sure knows what they are doing. TC

 

what is the name of this coin? and a dealer offering 2 dollars over spot for proofs?? that sounds like a rip off

 

easj, it's a 1oz Australian "Kangaroo at Sunset w/ F15 privy." F15 privy (i may be getting this wrong, I am still learning about the program) is an international coin program that showcases proof coins from around the world (to include PSEs). They orignally started out in gold; then in 2009 they started offering them in silver proofs. If interested, be careful as there is a 1/2 oz version that looks similar and some on ebay charge as the same price w/out exactly going out of their way to give a heads up to buyers. I got mine from apmex and I am very happy w/it.

 

can i ask how much? and Australia i really do believe has the prettiest bullion coins, with the british britannia being next, but nobody seems to really care about them

 

i just found it on apmex they are out but you can get the 1/20 oz of silver for 80 dollars hahaha man i hope people do not pay that much

 

i paid $130 but I like these for collector/art value, not bullion. For investment i stick to the silver eagles or rounds. That said, in my personal opinion (which is usually wrong )...if you have a pretty coin, date, and limited mintage, then someone, somewhere will want to collect it, and it will hold its value. If it doesn't, then when I croak, my little girl gets to have some cool paperweights!

 

haha good for her!!! i have to admit i have never paid so much over spot for a bullion coin, but that one really has caught my eye. i might be a sucker for it if i ever see one, there is a coin show this coming week so maybe.

 

I would say that local market dictates what the value of these might be. Two dollars over spot is very low for these, but there may be no market for these coins in your area. Like Topcat said, it would be better to sell these either on ebay or to other collectors. You should definitely get more. I know that I would at least pay $3 over spot. In the meantime, you can enjoy looking at my 95W while you continue to save.

 

Graded? Cost?

 

wow that is beautiful, and $2500 is quite a bit less than i've been seeing them go for lately. ....can you imagine someone not knowing any better getting $2 over spot for this!? Actually, there is a youtube of a guy who claimed to get one for $59 from his local coin shop auction, which goes to show, some of the coin dealers have no idea how collectible these are. Here is the link: http://www.youtube.com/watch?v=IjFnbC-hdRQ

 

You are a VERY fortunate collector to own the 1995W. Just an absolutely gorgeous example.

 

This is primarily why I do not buy proof coins. I don't want to have to find that special someone to sell my coins to when I hit retirement age. I stick with bullion value coins only.

 

I buy bullion to invest, i buy proofs to collect. The way I look at it, proofs are no different than collecting regular coins, and there seems to be a market for those, and with sites like this, ebay, teletrade, etc. the local market is no longer a limitation.

 

Hey Mark, thanks for your comments. I do consider myself lucky or blessed how ever you would like to look at it. I worked hard and saved up just like the OP is doing. It took me the greater part of a year, but I did it. Anyone can get one, you just got to be willing to sacrifice a bit and it will one day be yours. Also, the work/life timing was right. Things have gone to the crapper since and I would not have been able to purchase or even save this coin. Timing is always essential.

Joe

 

at a decent LCS you should get a good price. I sold some ASE proofs to my LCS 3-4 years ago for $44-46 when silver was a lot lower. there is a good market for them, don't go by a couple of shop's prices. lots of other ways/places to sell them.

 

Ases alone carry at least a premium of 2$, pm me