submitting AMERICAN SILVER EAGLES for grading

i recently bought a monster green box and haven't decided if i'm going to break the box open and send any in for grading. i wanted to get some feedback to the pro's and con's and what i'm going to expect. i have 140 ounces in 7, 20 unit rolls that i'm betting has been sorted.

i've read an article that most coins from the monster box grade to ms-69 or ms-70... not sure if this is accurate or not. if that is the case, and slab coins can make a few extra bucks than the bullion itself, why isn't everyone doing this, then? if i get a discount on batch submission, but then have to add that cost back in, it doesn't really sound like i make any more money.

if i do send in a roll or two, do i hold onto the slabs for several years and hope for appreciation?

again, i hope i can get some clarificaiton. thanks for your feedback!

all in all, i bought it all for bullion, primarily, and not for numismatic opportunities... just wondering about coming over to the dark side.




--c

 

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My advice, based on recent experience, is do not send for grading.
The majority of ASEs are MS69.
If you do get a few MS70s, the cost of grading the MS69s will definately surpass the premium you will get for any MS70s.
Being in a slab will not increase the value of MS69s. The price of silver is what will affect the value, and it will affect slabbed and unslabbed ASEs by the same amount of money.

I made the mistake of building a couple sets of MS69s, and when I sold them to a dealer this year, I received the same amount for the MS69s as I would have if they were raw. (The 2006Ws brought more because of their higher value due to low mintage, but no more than if they were raw.)
I thought of selling them on ebay, but research showed me that I may be able to break near even, but also may not be able to get them sold. And I'd still be paying the fees - further adding to the cost. There's just too many MS69s in slabs, and the average Joe cannot make a profit with volume dealers selling for a lower price than would allow that profit.

IMHO, don't throw the money away for grading. Keep 'em raw - they're bullion - the value is wholly in their silver content, and US govt. guarantee of that content.
I keep one of each year in an album because I like the design, and am anticipating seeing what they will look like in a few years with "album toning". Otherwise, I buy 'em for the silver.
Hope this helped.

 

Coinbuff speaks the truth... they are just bullion.

How much is it to buy ASE's raw from the Mint? How many MORE ASE's could you buy with grading fees if you decided not to send them in?

People are slowly starting to catch on, and the folks who paid a premium for MS70 slabbed ASE's are going to be kicking themselves.

 

thanks for the feedback... i think that's a good idea. will keep them for bullion! perhaps, i just needed to confirm what i was already thinking/feeling.

cheers,





--c

 

Leave 'em in the monster box Carlos and treat them as bullion...:smile

 

Keep your box sealed. A sealed green monster boxes sell at a premium!

 

I agree keep it sealed. In the end it is just bullion.

 

thanks, again...


if i need to sell any silver, i'll sell some of the 7 open rolls...




--c

 

In 20 years when you decide to sell you will be glad you kept it sealed. I have mine out in the garage.

 

I hope you are joking! :bigeyes:

 

Or sleeping in the garage with a loaded large caliber weapon. :bigeyes:

 

No, I don't believe in guns but my latest green monster is tucked under my tool bench in a cardboard box that I made for it. It's up off the cement floor atleast. I have 2 more in the washroom under the table where we fold the laundry. They are older, I'm not sure the date but maybe 98 or 00. I moved into the house in 97 so I know they aren't older than that. I think back then you could get one for around $4,000.

 

I mostly agree with the points that most respondents have said on this thread. If you have SAE bullion in a monster box--- don't get them graded just leave them alone.

I question whether it's ever smart to grade (slab) regular issue bullion coins.
And the real drawback to grading is that a 69 almost makes your coin worth a tiny bit less than if it were not graded at all.


I call the whole practice "fishin' for 70's"--- and it's a lot like a crap shoot or playing the lottery. Pull a 70 on the "right" coin--- and you can get a huge return. But if she comes back a 69 it's a dud. People actually rip coins out of 69 slabs and refit them into airtites.

The only coins I would ever consider getting graded would be the W mint marked coins (both silver and gold) and the commemoratives. But again with the caveat that I'm also playing the lottery.

There are two or three nice aspects of having a coin graded\slabbed. The NGC holder for example provides excellent protection for the coin and it much more airtight. From this preservation point of view I think grading provides some benefit. Other benefit of grading is the authentification of the coin--- i.e., that it is genuine. And the third benefit of the slabs (compared to OGP) is that the slabs provide for much greater space efficiency in storing your stash as opposed to say keeping commemoratives in the original government packaging. And the NGC (PCGS) boxes are pretty nifty to sort your stash into convienent storage containers.

The last good point of grading is that some auction houses will only sell slabbed coins. this might be of benefit if you have a large stash of valuable coins and wish to utilize an outside agent to sell your stash.

 

what about moving into world coins are u considering that or no OP?

 

carlos. Yes, they are bullion but ASE's are also a work of art. Something with a design as magnificent as the ASE has numismatic value, despite popular opinion. If today's ASE's are handled as mere bullion, with no regard to potential numismatic value, a lot of them will not survive without showing some wear and handling. I know they are common in any date but, in time, how many of them will be available in MS-69, MS-70, or PR-69, PR-70?

 

carlos. Just finished reading that you are keeping them factory sealed. Initially thought you had already opened them and you were dealing with raw ASEs. Of course, keeping them sealed is the best option if you are not considering having the individual ASEs slabbed.

 

Unless you give them to your kids to play with, I'm going to go out on a limb here and say 99.9%.

 

yea read my post in the bullion section before u spend ur hard earned money on grading

 

Where exactly do you live again?

 

I know you just kidding (at least I hope you are), but you never know who is watching.

I won't even get coins delivered to my home address... mailmen have eyes too.

Hey, it's not paranoia if they really ARE out to get you!