modern coin prices dropping fast
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Modern coin prices seem to be dropping faster that flies--or is it just me.

Two years ago I bought a 1994p NGC proof silver eagle and it was almost 2000.00. Now you can get them on Ebay for around 1100.00 or less. Same for a 1993p NGC PF70.   A 1995 NGC MS70 Silver Eagle was around 1500.00 now is goes for under 1000.00. And they are all falling fast. Will it ever stop??!!!

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These items are commonplace. Only the packaging is viewed by some as "special."

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Welcome to the forums! 

I don't want to sound mean, but ultra-high grade moderns are not really rare, and are largely dependent on how many people want to buy them. The premiums for these are unsustainable. I don't follow the market for bullion, but the trends you quote do not surprise me. I would not suggest putting your money there - or if you do, I wouldn't be surprised when it drops. 

Again, I don't want to sound mean, but this is a harsh reality. It is unfortunate that you have lost money on these. 

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Thanks for the comments. You didn't sound mean just realistic.

Just like the rest on our economy--maybe some day it will come back 

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The prices of many coins seem to be dropping, not just modern top pops.

 

Do 70's get plusses?

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There are also monster boxes of silver eagles out there, that have not been opened. Each one of them drops 500 coins on the market and if a few get the highest grades, it continues to increase the # of MS/PF70s available. The number of collectors isn't growing and so the prices drop.

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1 hour ago, e1cnr said:

The prices of many coins seem to be dropping, not just modern top pops.

 

Do 70's get plusses?

While the market as a whole is generally declining, some series are declining faster. Some modern top pops are actually selling for really strong money, but bullion rounds are not. 

No, 70's do not get plusses or stars. 70 is the theoretical max, so it wouldn't make sense for something to be a 70.5. 

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If you like the moderns, I suggest you wait a few years after they come out, then go to a B&M or a show, and look at the raw ones in the OGP.  The prices in general will have come down a fair amount from what the Mint charged X years before.  Some of the ones you look at will obviously be in better shape than others.  Buy the raw ones in better shape.  Most of the time they won't technically be 70's, but in many cases the proofs will be at least a 69, and you will in many cases be buying them fairly cheaply.  You'll have the coins in your hands, and you won't be getting hosed by the decline in value.  

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Great comments by everyone---learning a lot 

.Looks like I'll have to change my priorities on collecting

Thanks

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....Or by the MS70s at the lower pricing!

 

 

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On ‎4‎/‎23‎/‎2017 at 5:56 PM, PAT-CHS said:

Thanks for the comments. You didn't sound mean just realistic.

Just like the rest on our economy--maybe some day it will come back 

I won't bank on a comeback. The trouble with modern Proof coins like this Proof Silver Eagle is the supply is really very high because the survival rates are almost 100%, and the coins were well made and many were high quality from the beginning. The pattern that I have seen with moderns coins during my time as a collector, which spans more than 50 years, is that the prices might be high when they are issued and for a few years after that, but then they drop as collector interest fades. Quite often the prices never to back up. The collectors who wanted them have them, and the new blood is looking for the next popular modern issue.

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Great comments by everyone---learning a lot 

.Looks like I'll have to change my priorities on collecting

Thanks

 

 

For everyone who switches to old coins ten new collectors just quit for good.

The death of moderns is the most overhyped and oversold event of all time.  It's been predicted ten million times and announced twenty million.  Yet people are still collecting moderns and the prices of many have been increasing for many years. 

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If you really want rare coins just try to find proof silver eagles in their original holders that would grade less than proof 69. I suggest they are legitimately rare coins.

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Toned moderns (post 1964) arent cooling off.... matter of fact they are heating up...

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16 hours ago, cladking said:

For everyone who switches to old coins ten new collectors just quit for good.

The death of moderns is the most overhyped and oversold event of all time.  It's been predicted ten million times and announced twenty million.  Yet people are still collecting moderns and the prices of many have been increasing for many years. 

But we are not talking about the modern coins that are your area of concentration, which are mostly made for circulation pieces. Few of those coins have been saved in high grade, and I agree with you that many of those pieces are scarce.  

We are talking about a modern Proof ASE that has dropped in price after it sold for high prices in certification holders. You have stated in the past past such coins are a risky buy because there are large numbers of them that have been saved in high grade.

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On ‎4‎/‎25‎/‎2017 at 0:39 PM, BillJones said:

But we are not talking about the modern coins that are your area of concentration, which are mostly made for circulation pieces. Few of those coins have been saved in high grade, and I agree with you that many of those pieces are scarce.  

We are talking about a modern Proof ASE that has dropped in price after it sold for high prices in certification holders. You have stated in the past past such coins are a risky buy because there are large numbers of them that have been saved in high grade.

I don't disagree. 

I've never been a big fan of ALL moderns and don't approve of investing in any coins at all.  There's nothing wrong with collecting modern proofs or modern bullion but some collectors in these areas don't understand the markets because they aren't familiar with the coins.  When all the coins are extremely well made the importance of third party opinion is much higher. 

People might lose some more money in some of these areas in special labels and grades that are nominally better.  I don't know what the answer is except to tell people they need to sell some coins once in a while to know their market and they should study the coins they collect rather than taking someone else's estimation of grade and value. 

There are no simple solutions and no simple way to know good values from bad other than acquiring knowledge about coins.  And, yes, it does seem many of these areas have dropped though, of course, not all. 

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This is new stuff to me. When I look at "early" ASE's I see thousands and thousands of 69's and a handful of 70's, with huge price multiples between the two. Let me suggest that the qualitative differences between these grades is so miniscule that it's no longer about the coins, it's solely about competition and money. I would also point out that time could very well mutate these "perfect" coins. I can remember a time when we all agreed that there was no such thing as a perfect coin, which there isn't.  JMO as an old geezer stuck in the 60's (the decade that is).

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16 hours ago, LINCOLNMAN said:

This is new stuff to me. When I look at "early" ASE's I see thousands and thousands of 69's and a handful of 70's, with huge price multiples between the two. Let me suggest that the qualitative differences between these grades is so miniscule that it's no longer about the coins, it's solely about competition and money. I would also point out that time could very well mutate these "perfect" coins. I can remember a time when we all agreed that there was no such thing as a perfect coin, which there isn't.  JMO as an old geezer stuck in the 60's (the decade that is).

And coins that are graded "70" need not be perfect, as per the stated grading guidelines from the major third party grading companies. 

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" And coins that are graded "70" need not be perfect, as per the stated grading guidelines from the major third party grading companies. "

 

Although many feel they should be "exactly as they come from the dies."

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1 minute ago, RWB said:

" And coins that are graded "70" need not be perfect, as per the stated grading guidelines from the major third party grading companies. "

 

Although many feel they should be "exactly as they come from the dies."

Don't get me wrong - I'm not in favor of obviously imperfect coins being graded "70". 

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2 hours ago, MarkFeld said:

Don't get me wrong - I'm not in favor of obviously imperfect coins being graded "70". 

Do you think my otherwise perfect '64 Jefferson that's Pf 69 Ultra Cameo could be Pf 70 with frost break on the jaw as virtually all early strike Jeffersons of the priod have ?

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18 minutes ago, numisport said:

Do you think my otherwise perfect '64 Jefferson that's Pf 69 Ultra Cameo could be Pf 70 with frost break on the jaw as virtually all early strike Jeffersons of the priod have ?

If the frost break is as made, I don't think that, alone, should cause the coin to be graded 69 as opposed to 70. At the same time, however, I wouldn't assume that's the reason the coin failed to grade 70.

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Thanks to all who commented on this post.

I have a better understanding on coin collecting, especially with "Moderns".

I'll be a little more cautious on buying in the future.

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On 4/23/2017 at 5:41 PM, bstrauss3 said:

There are also monster boxes of silver eagles out there, that have not been opened. Each one of them drops 500 coins on the market and if a few get the highest grades, it continues to increase the # of MS/PF70s available. The number of collectors isn't growing and so the prices drop.

I own a 1996 MS70 ASE and when I acquired about four years ago the population was 98.  The population as almost doubled in that time.  Thus the lowering in price.

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On ‎4‎/‎30‎/‎2017 at 8:18 AM, PAT-CHS said:

Thanks to all who commented on this post.

I have a better understanding on coin collecting, especially with "Moderns".

I'll be a little more cautious on buying in the future.

You'll do fine as long as you're collecting for fun and learn your markets.  Sell a coin once in a while to learn what they're really worth.  Just don't take your moderns to the corner coin shop and expect a fair offer because you won't get one and many dealers won't make an offer at all since they don't know these markets. 

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