Question about Silver American Eagles

I am fairly new to collecting for myself, but now that I have a grandaughter on the way, I'm going to be collecting for two. My question: What is the difference between "Gem Uncirculated" & "certified NGC MS-69" as an investment to pass on to her?

 

Log in or Sign up to hide this ad.

Without seeing it, I'd say that one is graded, the other one isn't. The "Gem Uncirculated" could get be MS-69, or it could be lower, (or higher).

 

If u r going to buy ASE's buy MS-69, NGC is cheaper than PCGS. Graded means guarenteed, by the TPG, to be as stated on the holder.
I own both, certified and raw.

 

I aware of what you posted (and agree with it) though I find it to be a bit silly in some regards. Why is this (technically speaking)?

Maybe so many are produced that their value as a coin is diminished (I don't know if more or less of these are produced than traditional coins). What is a coin, and why are these not considered coins?

With most coins, their actual value (the value of the metals) is less than face value (correct me if I'm wrong). A quarter's metal isn't worth $0.25 (again, correct me if I'm wrong). They are dated and only so many produced per year.

Weigh this against American Eagle coins, which are dated (though as I said I don't know how many are produced compared to coins), but the main difference seems to be that the Eagle denominations are completely inaccurate and don't seem to make much sense (unless gold hits $50/oz.). The metal is worth far more than the denomination. A $50 Gold Eagle can't be aquired at a bank for $50 (nor can you get them at most banks at any price), nor would you pay for a $50 item with this coin. Like coins though, they can be graded in terms of their condition.

I think they are a bit of both, but the denomination issue and the metal worth make them less coin-like and more bullion-like. Is there a definitive answer to this?

 

I have a set of silver american eagles MS69 NGC that I received as a gift. I'm keeping it as an investment since it was a gift and I'm still debating whether I should add the 2005 into the set or not. I'm not sure whether MS69 is a good investment, maybe MS70 is. Mostly Gold is a better investment in my opinion. But this is just my opinion, its not investment advice.

 

Why wouldn't you add the 2005, they only cost $20 - $25...NGC MS-69

 

I collect SAE's (primarily proofs) because I think they are the best coin design (remake of 50 cent pieces) the mint has ever introduced. In a day and age of ugly obverses like the Susan B. and SAC dollar coin, at least the mint produced a coin that most agree is one of the most beautiful obverses to grace our coins.

Since silver is a highly reactive metal and will tarnish easily, my SAE's proofs are slabbed by PCGS and NGC. All things being equal with storage and presentation, this is one of the reasons why my SAE's are encapsulated with these services.

As for the initial question, there are still a bunch of collectors that grade with terms like XF, AU, GEM, B.U., GEM B.U., etc. GEM B.U. in my book is MS67 to MS69 and there lies the problem as a MS69 coin will trade for way more dollars than a MS67 coin.

Think of it like buying premium gasoline (which I can't afford any more). One station advertises Premium Plus while the other sells Super Plus. One may have an octane level of 92 and the other 93. Hence there is a differance even though they both sound good.

We all know that 69 is more than 68 and numbers are easier to grasp than Webster or numismatic definitions when it relates to grading coins by reputible TPG's.

 

I'm not very interested in the SAE and I'm keeping it as an investment since it was a gift. I don't know whether I should continue with the MS69. For an investment I think MS70 is better than MS69 so maybe from this year on I should add MS70 but then again its not a complete set anymore is it? These are the questions I'm juggling.

 

The American silver, gold & platinum series are indeed coins. They have a face value and are "legal tender". You could, if you had a hole in your head, spend these just like any other US coin, at face value. That would be kind of stupid tho since the intrinsic value is far greater than the face value.

The silver eagles have considerable collector value.

Buy/sell/trade postings are only permitted in the Open and Auction forums by eligible members.

 

I buy silver eagles every year and have yet to understand why anyone would pay to have them slabbed? Most eagles, gold and silver, are very high grade and as stated they were made as an investment tool in the beginning. The Mint had no idea that collectors would start sets and buy every year just as they do regular circulating coinage. Personally, I would locate a dealer and cherry pick his offerings and not pay the difference for a slabbed (and hyped) SAE that is JUST like what your dealer is offering for less than $10. This in one area where I draw the line as bullion is bullion, no more and no less.

 

I totally agree with this.

 

I would like to write a book on ASE but there isn't a book full of info...I might make a booklet but I don't think I could make it a large book...

ASE have a little bit better treatment from the mint than other coins...they are put in tubes and not in bags to get bag marks...
So most ASE are going to be MS68-MS69 and if you think there is such a thin MS70.

The main place to look for marks are the eagle shield on the back and and on and right above Lady Liberty stomach.

Speedy

 

Some people just like to have their collections in sonicly sealed capsules because the coin is permanently protected from the environment and the capsules are attractive. In addition they can handle the coins without fear of fingerprints, moisture from sneezing etc. It's really not much different from taking a raw coin, putting it in an intercept holder for protection and then putting that in some kind of book or case so that they can easily be displayed or examined. In fact, when you add the cost of the raw coin, the intercept holder and some kind of book or case to display them in, the price difference is all that much. A buck or two really isn't a lot of extra expense for attractive packaging and afterall, the whole idea behind collecting coins is the enjoyment and the history it entails, is it not? As such, having a slabbed coin or a raw coin really makes no difference when you look at it from that angle. If you like slabs and don't mind spending an extra few bucks, then by all means, do so. If you want them raw, then you can be happy too. To each his or her own.

 

I am a big fan of silver, and I love the SAEs. So far I've been pretty happy to acquire them in the original mint tubes or as raw singles that I put into airtites. It's a beautiful design and the large size is a huge plus for superficial people like me who love large coins to begin with. I haven't purchased a slabbed SAE but I suspect mine are in the upper MS ranges for the most part. Last week I managed to buy one for $5, but it's probably about MS62-63 because of a couple of contact marks.

Anyway, I'm one of the people who believes silver is grossly underpriced and destined to sell for much higher prices in the future. Ten years from now, any SAE purchased for less than $10 might seem like a gift in hindsight. So while I don't disagree with the people who feel the coin might always sell primarily as a bullion coin, this might not be as big a disadvantage as it seems.

 

I agree that the price of MS70 or PR70 coins is absurd. Some people have more money than they have brains.

However, it has been my experience as a dealer that finding enough MS69 and PR69 coins of each year, graded by PCGS, is a monumental task. While PR69 are readily available and not to expensive, certain years are impossible to find and when you do find them, they command increasingly higher prices.

An PCGS MS69 silver eagle is not as easy a grade to get, contrary to what most people think. It is harder to put together an MS69 PCGS set than it is a PR69 set simply because the coins still bang against each other in the tubes or when removed from the tubes. A lot of the "original" rolls we see are anything but. More often than not they have water spots, dings, toning etc. Obviously put together rolls and nowhere near MS69.

 

GDJMSP, that's good advice. I didn't know about the price drop. I think I'll just cherrypick the ASE.