Early Silver Eagle Proofs 0

[Jack Corso]

Is it advisable or even worth it to grade early year silver proofs based on the NGC pricing or should I just keep them in the original boxes? Thanks!

Edited June 19, 2021 by Jack Corso

[Jason Abshier]

That’s a matter of what you prefer ? Would you rather them be graded for resale value ? Or do you prefer just looking at them from time to time in the original boxes without worrying about grades ? A lot collectors buy silver eagles keep them in original boxes , some prefer graded coins PF70 grades for registry sets … If you did send one in and get the PF70 grade you could sell it for nice premium but otherwise 69 grade is a typical graded coin with a slight small premium (considering grading and slabbing fees) compared to Raw silver eagle in a box that covers not much to profit there money wise … It all comes down to what do you choose it’s your coin there are registry collectors out there probably looking for earlier year proofs in top pop grades most of them earlier proofs sometimes tarnish a little from not being stored properly over all the years therefore they won’t get 70 grade 

Edited June 19, 2021 by Jason Abshier

[Jack Corso]

Thanks Jason for the response. I wasn't planning on selling any since I was just going to pass these on eventually but was concerned that the value was understated in the Red Book if PF70 grades were among the lot and not graded. I guess I'll have to leave some detail instructions/explanations with the collection.

[Jason Abshier]

Oh , I forgot unless you have 1995-W silver eagle proof that’s worth getting graded even in 69 grade they bring strong premiums 

[Jason Abshier]

To this day I never ever owned a graded silver eagle let alone a proof , I go to any coin show there is not one dealer who doesn’t have a stock pile of silver eagles you can buy they are a beautiful bullion coin , I can’t see myself paying high premium for a graded silver eagle unless I was building registry set it makes sense , they were massed produced in high mintage figures nothing to write back home about 

[RWB]

Every time the coin is exposed to air, you increase the risk of surface contamination and spotting. Unless there is a compelling reason to tamper with the original container, leave it alone.

[Alex in PA.]

1 hour ago, Jason Abshier said:

they are a beautiful bullion coin ,

And that's all they are IMO.  Dealers like to place a large markup, especially on the graded ones as if they are 'scarce', but in the end all you have is silver bullion.

Kitco silver = $25.80 per ounce

Pinehurst coins = 2021 uncirculated Silver Eagle sells for $39.16 if you buy 20 to 99.

[Jason Abshier]

14 hours ago, Alex in PA. said:

And that's all they are IMO.  Dealers like to place a large markup, especially on the graded ones as if they are 'scarce', but in the end all you have is silver bullion.

Kitco silver = $25.80 per ounce

Pinehurst coins = 2021 uncirculated Silver Eagle sells for $39.16 if you buy 20 to 99.

Speaking of bullion coins , I noticed bullion coins from other countries carry nice premium over some graded silver eagles , some of the world modern silver bullion coins are worth sending in for grading even if it comes back graded 69 (depends on mintage if it’s low some series bullion is less than 1000 minted) . I have about a dozen or so bullion coins I’ve bought raw still thinking about sending them in at end of year for grading probably just send proofs in for grading since I had pay over $100 for them since they were scarce … the rest of BU coins can sit in airtite capsules not worth sending in right now unless there’s a demand for them in future ,nice thing about some world bullion coins is you get a different design about every year in series unlike silver eagle same design in long series just a different mint mark , year date . It does gets boring looking at same design year after year  

[Alex in PA.]

7 hours ago, Jason Abshier said:

nice thing about some world bullion coins is you get a different design about every year

You're right about that.  Some of those are outright beautiful designs.  I have several rolls of 2016 ASEs (20 each) and I have no desire to pay to have them slabbed.

[J P M]

I have my full set of ASE  one D cam one proof and one 25th Anniversary and that is good enough sending out any of the regular ASE's to be graded that may come back a 68 or 69 is to much money unless one of them skyrockets for some unknown reason. When I can buy a MS70 in a clean holder for $55 it is a much better choice in my book

1 hour ago, Alex in PA. said:

I have no desire to pay to have them slabbed.

. 

Edited June 20, 2021 by J P Mashoke

[Alex in PA.]

8 hours ago, Jason Abshier said:

I noticed bullion coins from other countries carry nice premium over some graded silver eagles ,

And I've noticed that some foreign bullion coins are higher quality but less expensive.  Canada - 

2021 Canada 1 oz Silver Maple Leaf $5 Coin GEM BU  .9999 Fine sells 25 to 99 for $34.00

[Jason Abshier]

39 minutes ago, J P Mashoke said:

I have my full set of ASE  one D cam one proof and one 25th Anniversary and that is good enough sending out any of the regular ASE's to be graded that may come back a 68 or 69 is to much money unless one of them skyrockets for some unknown reason. When I can buy a MS70 in a clean holder for $55 it is a much better choice in my book

. 

Welcome to the 70’s club … yeah that’s a good buy for 70 grade coin considering the slabbing fees and shipping insurance and cost and long turn around time . Sometimes it’s just easier to buy the coin already slabbed by dealer or another collector save yourself the hassle , what’s been going on that I learned is a lot of these modern silver bullion coins are getting the 70 grades at one time it was hard to get that grade prices were really high (seems now grading have gone on lose side of market awarding 70 grades have gotten out of hand) .
 

Now a days its more easier to get that grade prices have fallen for some years in 70 grade because it so common to see them in future if someone has piles and piles of silver eagles to send in more 70 grades enter market the prices collapse even then everyone will have 70’s club coins unless they change Sheldon grading scale to 1-80 then a bunch of coins will get cracked out and resubmitted .
 

Which I do feel will happen someday in future collectors/dealers will get bored of getting 70’s all time they will beg to have Sheldon scale changed once again just to have a money driven market for modern graded coins 

[Jason Abshier]

16 minutes ago, Alex in PA. said:

2021 Canada 1 oz Silver Maple Leaf $5 Coin GEM BU  .9999 Fine sells 25 to 99 for $34.00

I was always told thats the way to do it , if a person wants to get the most for their money when buying bullion for precious metal buy silver bullion in bulk . If you buy one at time you’re wasting your money sometimes on high dealer premiums for a single silver round .

[Woods020]

33 minutes ago, Jason Abshier said:

I was always told thats the way to do it , if a person wants to get the most for their money when buying bullion for precious metal buy silver bullion in bulk . If you buy one at time you’re wasting your money sometimes on high dealer premiums for a single silver round .

If you are buying them for what they are, bullion, you certainly want to buy in as large of a number as you can. The difference adds up largely when you look at buying a monster box vs buying that many individually. Still baffles me that what was intended to be bullion gets the fanfare and grading wars that it does. 

[Jason Abshier]

39 minutes ago, Woods020 said:

Still baffles me that what was intended to be bullion gets the fanfare and grading wars that it does. 

I’m in the same boat as you scratching my head what is all glitter and glamour about graded bullion ? I can see building registry then again there’s hundreds of top pop coins being graded by end of the year prices slowly start to decline for that graded coins I can see some graded bullion with low mintages (1000-3000) especially low mintage proofs I can see them in graded holders as a collectors coin along with pure bullion metal  . It’s cool it keeps the grading companies busy other than that it is what it is dealers see this as market opportunity I’ve seen dealers get rid of 50% of their classic inventory just to focus on modern bullion because that’s what sells for them the market is Definitely an odd one sometimes 

I know few collectors who spend a lot money on top pop 70’s they don’t even do registry I ask them why they prefer 70’s they say it’s the cream of the top believing there going to be a very market hype in future , to each their own sadly if one of them coins tarnish or get brown spots all over it , it’s gonna be a total lost 

[Alex in PA.]

53 minutes ago, Woods020 said:

Still baffles me that what was intended to be bullion gets the fanfare and grading wars that it does. 

You are not alone in this thinking.  Dealers, TPGs, etc. are very cunning and find many ways to improve their income.  Everything in the hobby industry has been created by dealers to benefit dealers.  Just my opinion and nothing more.

[Alex in PA.]

1 hour ago, Jason Abshier said:

buy silver bullion in bulk

Silver and gold I always try to buy Canadian (.9999) and Silver Maple Leafs the smallest I have ever bought is the 25 each roll.

[Woods020]

Just now, Alex in PA. said:

Silver and gold I always try to buy Canadian (.9999) and Silver Maple Leafs the smallest I have ever bought is the 25 each roll.

And pay via check or e check. The name of the bullion game is getting your cost as low as possible. And a few percentage points for a credit card payment add up if you buy much. You’ll never see a gain, except in rare circumstances, if you buy one at a time with a credit card. Now if you got the V75 or something like that it’s different. But the average ASE you better try to lower your acquisition cost as much as possible for an investment. 

[VKurtB]

I would never have any ASE slabbed - not bullion version, not proof, not “second mint” proof, not burnished. A own two in slabs, but they were given to me. 

[Alex in PA.]

29 minutes ago, Woods020 said:

And a few percentage points for a credit card payment add up if you buy much.

Everyone, and I mean everyone, not just coin dealers is charging a premium for using a Credit Card.  They have us now paying off their fees.   

[J P M]

Ya I am done with the ASE set. I still have yet to order a type 2 and will only get more ASE's if they are 70 slabs and close to the mark. I will just keep Morgan hunting. There is always that one lucky find hiding out there somewhere that may pop up.