Something you should seriously consider buying now at the ground floor

I know some people do not think of $1 Silver Eagles as a coin but as bullion. However, there is a numismatic value for proof silver eagles made primarily for us, collectors. I went through my red book yesterday and realized that only 273,312 proof 2010 W (West Point) Silver Eagles were minted! You should be able to buy a PF 70 Ultra Cameo for under $125. I believe the 1994P silver eagle in PF 70 are worth a couple thousand dollars today and the mintage of those coins were 372,168! I know many of us did not collect certified coins until the turn of the century so I am not sure if the value of the 2010W proof silver eagle will appreciate as quickly as the 1994P, but if you could buy 5, 10 or even more of these 2010 Proof Silver Eagles, do it; put them away and forget about them for 25 years. I truly believe you or the person you pass down your coins to will be very happy you bought these Silver Eagles today. I bought 2 yesterday:smile

doodles2017

 

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Personally I don't buy and hold coins hoping they increase in value. I buy and hold to collect and enjoy. Coin speculation has ruined the hobby for far more people than it has done otherwise. Just saying.
Guy

 

I think about it when the mintages are 1000 or less. I agree with Doug.

 

In early August maybe. And it looks like someone got a reality check.
I see on eBay that a 1994P silver eagle in PF 69 is now (11/1/2012) worth about $73., 2.26x POS.
I'd seriously consider that high - the resale premium on modern collectible Silver coinage looks to be racing towards scrap.

 

This is very informative. Read slowly. Ruined the hobby for many people who were speculating. Good warning.

 

So many people don't understand the REAL profit from coin collecting will never be monetary. Its the enjoyment, knowledge, and friendships acquired by pursuing it that are its greatest returns.

If I wish to speculate on a an asset I will choose one with much lower buy/sell spreads.

 

Assuming the human race is still around in 25 years, who knows where the market will be – heck, we can’t consistently predict where it will be tomorrow.

As for ASE’s being collectable? Definitely! One beautiful large silver coin! Tell all those paying large sums for the 95w, 2008 r of 07, 2011 25th set & 2012 75th set that ASE’s aren’t collectable. The bonus is the majority of the complete set is easily obtainable at a minor premium above melt, so it increases your bullion holdings as well.

 

Sure, silver eagles are collectable or they wouldn't make proofs and collectors versions that get slabbed. I think it is true though it is difficult enough to predict the silver content's value let alone the numismatic value that general stays the same. As far as mintage goes with proofs, aren't they generally always minted less since less are needed since they are not used in circulation and only sold to collectors? How many actually buy proofs? If more people bought them, wouldn't the mint make more seeing there was profit to be made? Most bullion coins are bought and sold for the silver content so wouldn't they have a higher mintage?

 

To deny any sense of trend or outlook formed in the last decade or so, you cannot compare 'how it was in the 1980s' with how it is today. Those are two TOTALLY DIFFERENT worlds. I don't see trend changing anytime soon - things certainly aren't going back to the way they were in 1989. Or 1999. Before the age of the internet, people had generally very poor access to information. A retired market maker for Johnson-Matthey & the Bank of England told me that back in the mid-1970s, there were only a dozen or so experts alive who actually KNEW what the Price of Oil was at any given moment. I was shocked to hear that. As you well know, that sort of 'knowledge' is instantaneous and almost universal today: we can barely imagine it was not always so.

Likewise, data-access to all kinds of other niche markets has exploded across our screens & consciousness. Simply put: people can know what things cost, in real time. eBay blasted apart the coin dealers' mystification - now you CAN find out what it's worth on the world mkt. And it's not just retail collectibles - global commodities are sold retail at the thinnest margins in history. Consider that in the 1800's, refined Platinum typically cost 60-150% over Spot, often higher; in 2010 you could buy 10 oz. in Boston for 1% premium over Spot. That kind of 'retail discount' never happpened before, in the history of any currency. YES times really have changed, it is phenomenal.

Algos can tell us where most collectible coin prices are heading, that really isn't rocket-science anymore. I am very curious at the suggestion that "a complete set of ASE are available at a minor premium over melt" - that tends to confirm my supposition that Modern US Silver Coin Value is actually racing towards scrap. But I doubt it, yet. What's a "minor premium" anyway?

 

Well yeah, you’ve convinced me it’s easier today to determine the price today, but there are no crystal balls.

I said the majority of the complete set (referring to the bullion only issues), not the complete set, is available for a minor premium. I guess with all the special issues, the bullions may not be the majority, so I'll say a significant portion of the set is available for a small premium.

 

RE: I went through my red book yesterday and realized that only 273,312 proof 2010 W (West Point) Silver Eagles were minted!

Unless I'm missing something, my sources tell me that over 830,000 proof 2010W were eventually minted which is the 4th BEST ever.

"The 2010-W Proof American Silver Eagles have attained a Sold-Out status according to the US Mint's website ending a short six weeks of availability.The 99.9% fine silver Proof Eagles were released only on November 19, 2010 but were snapped up by collector's despite their short window of time on the Mint's shelves. According to the most recent figures available, 834,879 of the strikes were sold which is enough to place the 2010 mintage at the 4th best ever for the Proof Eagles since they were launched in 1986."

http://worldmintcoins.com/2010-proof-american-silver-eagles-sold-out-according-to-us-mint/103755

 

The definition of low mintage has changed over the past decade. This may sound strange, but we now seem to have a greater supply of low mintage coins. Many world proof silver coin mintages are under 10K, as are many of the gold spouses, 5 ounce ATBs, etc. Demand (especially future demand) is key. TC

 

273,312 ?? better check that. I am ok at spotting undervalued moderns and the 2010 proof SAE is not on my radar

 

Unfortunately, it takes years for Whitman to update recent years’ mintage figures in The Red Book. Although a good introduction to numismatics, The Red Book is increasing becoming obsolete - best to search the web for these numbers.

 

Yes the Red Book does publish errors from time to time.
The actual mintages for the proof 2010W is up around 860,000.
I'll also echo what Doug said, the modern proof 70's are not something that I would consider for a second as an investment.