MS70 eagles not worth the points issued posted by Enggold collection

[CSJournals-migration]

Really now, 6,000 registry points for that ?

 

Just looking at all these hyperinflated registry sets and say what ? ...... over 6,000 points for a MS70 1999 ASE ? Now just what did this coin cost ? $40 , $50 ? , meanwhile I see serious collectors with a $100,000 coin that only puts 4,500 points up on the platter. The fellows that have these high point ASE 's simply don't have the money to chase serious coins worth eons more than this modern stuff. Cutting to the chase, don't you hate seeing high point registry sets that aren't worth anywhere near a rare seasoned set ? I must not be the only one out here. Makes me want to have a few hyperinflated sets to stay ahead of the collector wannabees. A $4,000 coin should hold more weight than a $40 coin, lets be sensible here ?!

 

See more journals by Enggold collection

[jayman1970]

I gave up trying to figure out the crazy points system!

 

 

Jason

[coinman_23885]

Actually there was a 1999 NGC MS70 Silver Eagle that sold for more than $10,000 at Great Collections a few months back.

[coinman_23885]

P.S. I am not disagreeing with you that the moderns should not be weighted so heavily, and the classic rarities deserve much higher point values in many instances.

[Mr Bo Jingles]

I collect because I love the coins and not the points, but I certainly do not mind being acknowledged for my efforts and it does seem odd the way the point system is set up especially when you compare moderns to classics.

 

I'm not an ASE collector, however, without making an assumption I wonder if the higher points for the moderns is meant to keep the interest level high for those who put together registry sets. I mean seriously, with the exception of a coin or two that is tough (but nowhere near as rare as some issues) there are a BUNCH of high end ASE's available. One would think rarity would have a lot to do with the points.

 

Currently, there is an 8 way tie for top spot in the category of Proof Silver Eagles 1986-Date. Only 6500 points separates the top spot from the 20th spot. Without doing a lot of research I would bet that is one of the smallest swings of any registry set listing. I just have to say it again: An eight way tie for first!

 

That being said, they are beautiful coins and although I am not going to collect them I can easily see how they can lure a collector.

 

Here's to the coins we collect and the points we will always discuss!

[mailman1959]

There is a '99 on ebay right now, 1 bid, $22,728.68

[Mr Bo Jingles]

No disrespect intended toward anybody that collects ASE's, but what Mailman just posted makes me cringe a little.

 

Diversity - Variety - Insanity: That's what makes our hobby GR8!

 

 

[Cellgazer]

Supply and demand, simple as that. Only 88 '99 ASE's have been graded MS70 by NGC. In defense of modern coin, I would contend that many are quite undervalued when you look at the respective population. Someone I know recently purchased a '83 "no S" PF70 dime for around 5K. Only two have been graded PF70 by NGC. Thus they have an extreme modern rarity with an interesting back story, and a perfect coin to boot, for the price of a circulated 1989 cc Morgan.

Anyway, there must be thousands of ASE collectors who would love to put one of the 88 MS70 '99's in their vault. Supply and demand.

PS you must have been kidding about it being a $40 coin, right?

[Ultra Cameo Collection]

I was watching that no S dime and am still amazed it sold for that price. I hope it will get displayed for us all to see.

[Broke-Daddy]

In 1999, I sent an entire tube in to the NGC for certification, the process cost me more than the coins did. The 20-'99 eagles cost me about $10 each, the cert. charges totaled more than $200. They came back 19-MS69's, 1-MS68 (not 1 lousy 70!). In retrospect, todays processing methods are producing better coins, with a higher percentage of 70's than in those long-lost years.

 

Anyone want to take bets on the 2013-W 2-coin ASE Set coming out the end of May/June. They're going to employ some new surfacing methods.

 

(via FB) https://www.facebook.com/silver.eagles.96

(Coin World) http://www.coinworld.com/articles/viewarticle/mint-to-introduce-new-american-eagle-finish

[Cellgazer]

It is on display. Just check out a certain "insufficiently_thoughtful_person's" 100 greatest sets.

[CBC]

Apparently someone values the MS70 Eagles very highly, but look at what $22,728 will get you right now: these are all curently on ebay, most of them Buy It Now:

 

CC Morgans in GSA Hard Packs, all certified by MS65 NGC

1878

1880

1881

1882

1883

1884

1885

 

Plus the 1879-CC and 1891-CC in GSA Hard Packs, NGC MS 62

 

Plus the key 1889-CC in NGC XF-40

 

And about $1,200 left over. I know which I would rather have.

 

 

[Cellgazer]

I am with you. But if you HAVE to have a complete MS70 ASE collection, you pay the price or don't play. I for one ain't gonna play.

The "100 Greatest US Modern Coins" game, however, has sucked me in. I am paying the price for that game, but I do enjoy the variety. Each coin is a separate work of art, and has an interesting story on it's origin and/o desirability. It was the 100 Greatest book that turned me solidly into a collector of modern US coins.

[jpcienkus]

Apparently someone values the MS70 Eagles very highly, but look at what $22,728 will get you right now: these are all curently on ebay, most of them Buy It Now:

 

CC Morgans in GSA Hard Packs, all certified by MS65 NGC

1878

1880

1881

1882

1883

1884

1885

 

Plus the 1879-CC and 1891-CC in GSA Hard Packs, NGC MS 62

 

Plus the key 1889-CC in NGC XF-40

 

And about $1,200 left over. I know which I would rather have.

 

 

 

Added: I do collect ASE's, but will not pay the exorbitant prices being asked for some of these bullion coins.

[Mr Bo Jingles]

Apparently someone values the MS70 Eagles very highly, but look at what $22,728 will get you right now: these are all curently on ebay, most of them Buy It Now:

 

CC Morgans in GSA Hard Packs, all certified by MS65 NGC

1878

1880

1881

1882

1883

1884

1885

 

Plus the 1879-CC and 1891-CC in GSA Hard Packs, NGC MS 62

 

Plus the key 1889-CC in NGC XF-40

 

And about $1,200 left over. I know which I would rather have.

 

 

My thoughts exactly. Even though there are some unopened GSA's out there which could change the pops a little, you won't see HUGE jumps in pops like you are going to with ASE's, guaranteed.

 

Plus, with regard to the list of Morgans vs the same money in ASE's. It has been estimated that only around 20% of all Morgan dollars that were ever struck exist today. The rest were melted either by the Pittman act (some 270,232,722 Morgan dollars melted) or what was lost due to the Hunt Brothers massive melt frenzy. There is no way to tell now many GSA holders have been broken making those CC's even more rare, but conservative estimates from dealers I know are upwards of 50%.

 

All of the ASE's still exist and probably none (or relatively few) of them will ever be melted, leaving the original mintage and surviving population close to equal.

[CBC]

It was your journals about the GSA set you're working on that prompted my post here. I just started a Morgan set and hope to add GSA's where I can. You have some beauties; i would consider myself fortunate to find one like any of them.

 

And I can understand the supply/demand process and how it drives up the price of scarce items; I just don't trust the scarcity of modern products. I wonder how many unopened rolls of 1999 MS Eagles are out there, and how many undiscovered MS70's they hold. To add another data point in a series I collect, Heritage just sold a 1953-S Franklin half, PCGS MS-64 FBL for $18,800. There are 14 PCGS certified 1953-S Franklins with MS64 FBL designation with 24 higher grades, and only 12 by NGC in any grade. I seriously doubt many more will ever appear. So, for the Eagle (or Franklin) collector who wants the very best and has the means to achieve it, go for it and best wishes. I'm a couple of zeroes away from either of those coins.

[BruceS]

the 99 ASE just closed and went for $28,600 !!!!!!! on e-bay. thats right American dollars.

[jpcienkus]

the 99 ASE just closed and went for $28,600 !!!!!!! on e-bay. thats right American dollars.

 

I wonder if the under bidder will get a "second chance" e-mail....

[CBC]

That's about $28,550 more than I would pay for one. I could upgrade several of those CC Morgans to 65DPL with the extra $6,000.

[Mohawk]

I'm with you Bo.....that's just insane!!! I just think of how many 1999 ASE's are still out there, ungraded and unaccounted for, that could boost that population up while pushing that price way down!! There's coins out there that are definitely worth that kind of money, but I just can't wrap my brain around a 1999 Silver Eagle being one of them. I just think of the kind of numismatic pursuits that someone with that kind of budget could be pursuing and it makes me sad to think about this scenario. But that's just me. I guess we all have our interests and if that person has $22,000 to spend on the coin and it makes them happy, more power to them! Different strokes for different folks, I guess.

[#]

I am a major lover of GSA's. But I wanted to warn those that might be tempted to buy the unopened boxes. My neighbor is a radiologist and has taken me to work with him to show what can be done / viewed with X-rays. You can't really grade the coin but can defiantly tell wether it's a MS or DMPL. Bags marks are very easy to see and the contrast he has been playing with will soon be able to grade through the box within one grade. Yes I agree this sucks but thought others might be interested. I'll try and get copies of the X-rays if some one else can post the pics as I've yet to figure out how on chat boards.

[FishyOne]

Thanks for the tip on the X-rays! Best of luck with your 1879 mint set. It should be very rewarding to put together.

[wdrob]

I'll try and get copies of the X-rays if some one else can post the pics as I've yet to figure out how on chat boards.

 

Do you have a Google gmail address or ever use Google Drive or any Google product for that matter? If so you can easily use Google to host your photos in albums, allow public to view, and then in Google open the picture, right click, copy image location.......then...... Come here in your post and hit the insert image button and paste that link you just copied.

 

That way they don't have to be below 200k or any other restrictions. And it's free. There are other free photo hosting places too but I just use Google for everything.

 

 

 

Like that!

 

 

 

[jpcienkus]

Congratulations on cresting the 100K mark.

 

I wish you luck in your GSA search. Hope we don't compete against each other too much for the prime examples!

 

Here's a pic of one of my favorites.

 

[Kenneth F]

I just sold a MS-70 2000 ASE NGC at heritage last month and it set a record for that year/grade; $10575.00. Totally supply and demand. Only 178 in 70. I'm currently selling all eagles to raise funds for my 1879 mint set and to up upgrade my GSA sets. I didn't really concern myself with points because I know there's no way I'll ever be in the top 10 GSA sets. My dream was the top twenty five which I reached. I do believe the American Eagles are the most beautiful modern coins but the problem with spots appearing randomly really worries me. When my GSA or 1879 set develops spots it's called toning and increases the value in my opinion. I do think in 10-20 years down the road I'll regret selling my eagles as I believe they'll be more exspensive than we can imagine.

 

Good luck with the 1879 Mint Set. I have to admit, the most fun I have had in the coin world was building my 1878 Mint Set.

[Kenneth F]

Congratulations on cresting the 100K mark.

 

I wish you luck in your GSA search. Hope we don't compete against each other too much for the prime examples!

 

Here's a pic of one of my favorites.

 

 

She is PURDY!!!

[Mr Bo Jingles]

HashTag- Thanks for the info. I have never heard of being able to xray a GSA coin and be able to tell anything at all about it. You learn something new each day.

 

In general I would not buy unopened GSA boxes anyway. 95% of the time they are 84's and most dealers that state they have no idea what the coin could be are telling a bit of a fib. I good way to catch them in this fib is to look at their purchase feedback history. I have caught several dealers who have purchased 5 packs of 84's and sell them on ebay after they open one up because the grade of the first coin in the box will be pretty consistent with the rest.

 

I don't know this to be fact, but any unopened coin that came from a single purchase I've seen has the year stamped on the outside of the white box. If there is no stamp, most likely (actually always from my experience) they are from a 5 pack.

 

Folks, most of the good GSA's are in people's hands. I know there are people out there that have X number of unopened boxes and rumor has it one guy has 1800 unopened GSA's, however, I find it hard to believe that if somebody had an unopened 79 they would leave it in the box. It doesn't make any sense.

 

Lots and Lots of 1884's.........

 

Bo