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Help With 2001 Proof Silver Eagles Please

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CoinNewbie
New Member
United States
5 Posts
 Posted 02/02/2012  12:10 pm Show Profile Bookmark this topic Add CoinNewbie to your friends list Get a Link to this Message

I have recently been given (from a family member) two dozen 2001 Proof Silver Eagles. They are in a few different USPS postage boxes -- all of the boxes are still closed from when they were originally shipped, except for one box, that shows the proof silver eagles from 2001....each in their original capsule closed casing.

My first question is, should I open the USPS packages, or is there potential added value by keeping them closed?

Second...can anyone suggest what these may be worth?

Thank you in advance for any help you can offer!

New Member
United States
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 Posted 02/02/2012  12:12 pm  Show Profile Bookmark this reply Add CoinNewbie to your friends list Get a Link to this Reply
Again, I am very new to all this -- so if I have posted this in the wrong group, please let me know and I would be happy to move it -- though I hope I picked the right one.
Pillar Of The Community
United States
2876 Posts
 Posted 02/02/2012  1:02 pm  Show Profile Check barryg's eBay Listings Bookmark this reply Add barryg to your friends list Get a Link to this Reply
You should be able to open the shipping containers without affecting the value whatsoever. As long as you don't actually get fingerprints on the coins or damage the original government packaging, you should be able to take them out and enjoy looking at them.

Silver value of each coin is currently at around $33-34. Proofs tend to sell for around $60-70 these days.
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United States
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 Posted 02/02/2012  1:11 pm  Show Profile Bookmark this reply Add CoinNewbie to your friends list Get a Link to this Reply
thank you barryg, that was very helpful.

you said the silver has one price and the proof has another price...are these coins all 'proof' or is that only a specific grade for a few select coins of the 100's of thousands minted.

just curious -- does anyone know what these coins may have cost (each) back in 2001...is this value higher, lower or about the same as it was in 2001?
Pillar Of The Community
United States
915 Posts
 Posted 02/02/2012  1:16 pm  Show Profile Bookmark this reply Add LincolnGuy to your friends list Get a Link to this Reply
The value has gone way up. Silver was under $5 an ounce in 2001.

I am looking for toned uncirculated Lincolns. PM me if you want to get rid of any.
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United States
3451 Posts
 Posted 02/02/2012  1:18 pm  Show Profile Check muddler's eBay Listings Bookmark this reply Add muddler to your friends list Get a Link to this Reply
CoinNewbie, you have all proof 2001 (P) proof silver eagles if they were purchased from the mint. My records say my purchase was $33 back in 2001. They are a fairly common American Silver Eagle ( ASE) with 600,000 minted.
Pillar Of The Community
United States
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 Posted 02/02/2012  1:25 pm  Show Profile Check barryg's eBay Listings Bookmark this reply Add barryg to your friends list Get a Link to this Reply

Quote:
you said the silver has one price and the proof has another price...are these coins all 'proof' or is that only a specific grade for a few select coins of the 100's of thousands minted.


Sorry, I wasn't clear. If you were to try selling your coins purely for silver melt value, they'd be worth around $34 at the moment based on the currently price of silver. Since your coins are proofs, however, they would be worth $65-75 apiece to a collector since the proof versions always have a significant premium over their base silver value.

The U.S. mint makes two version of these. The regular "bullion" versions are meant to be bought and sold at or near the current value of silver. The special "proof" versions are made specifically for collectors and cost more.
New Member
United States
5 Posts
 Posted 02/02/2012  1:34 pm  Show Profile Bookmark this reply Add CoinNewbie to your friends list Get a Link to this Reply
okay great -- thank you everyone for all your help.

how do I know if I have the Proof coins or Bullion?



....and everyone agrees I should open the USPS packages sent directly from the mint? it doesnt change the value at all?
Pillar Of The Community
United States
915 Posts
 Posted 02/02/2012  1:41 pm  Show Profile Bookmark this reply Add LincolnGuy to your friends list Get a Link to this Reply
Opening the USPS packages wont change the value.
I am looking for toned uncirculated Lincolns. PM me if you want to get rid of any.
Pillar Of The Community
United States
3451 Posts
 Posted 02/02/2012  2:23 pm  Show Profile Check muddler's eBay Listings Bookmark this reply Add muddler to your friends list Get a Link to this Reply
A proof coin should be in a blue velvet box with reflective surfaces with a (P) mint mark on the reverse left of the base of the eagle.



A bullion coin will not have the reflective surface and will have no (P) mint mark.
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United States
1651 Posts
 Posted 02/02/2012  2:29 pm  Show Profile Check Foxwoods Man's eBay Listings Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply

Quote:
A bullion coin will not have the reflective surface and will have no (P) mint mark.


...and were not sold direct to the public by the Mint in 2001
New Member
United States
5 Posts
 Posted 02/02/2012  3:26 pm  Show Profile Bookmark this reply Add CoinNewbie to your friends list Get a Link to this Reply
thanks so much---yes they have a P on the back.


so....if I wanted to -- how and where can I sell these coins? can anyone offer advice on that please?
THANKS!
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United States
1651 Posts
 Posted 02/02/2012  3:44 pm  Show Profile Check Foxwoods Man's eBay Listings Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply
Hmmm. now I am confused...after saying (and believing) that the Unc. 1991 was not sold individually by the Mint I find this:

http://www.ebay.com/itm/1991-P-Amer...em336fd602ca
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United States
943 Posts
 Posted 02/02/2012  4:03 pm  Show Profile Check jgfindring's eBay Listings Bookmark this reply Add jgfindring to your friends list Get a Link to this Reply
Foxwoods, I think that is in made to look almost like the mint aftermarket packaging.
Up to 371 Countries now! Working on Canadian, Australian and Euro type sets.
Completed US sets:Lincoln Memorial w/ proof;Lincoln Shield w/proof;Jefferson w/proof;Roosevelt w/proof;Washington w/proof;Statehood w/proof;Franklin;Kennedy w/proof;Eisenhower w/proof;SBA w/proof;Sacagawea w/proof;Presidential w/proof.
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Previously Banned Member
107 Posts
 Posted 02/02/2012  5:15 pm  Show Profile Bookmark this reply Add coinvet to your friends list Get a Link to this Reply
Taking them out of the shipping boxes will not affect value. If you want to get the value of your coins, take them to 2 or 3 different dealers who purchase lots of coins or collections. The main thing is to be very convincing that you are ready to sell because free appraisals do take time. The first offer will be about 60% of retail price (Note: most dealers will sell an item for about 90% of retail price when they want to move it). If you checked 3 dealers and the average dealer's offer was $600.00 for your coins, you know that retail price is about $1000 and the dealer would probably sell for about $900 (50% more than he offered you). I would than try to sell the coins privately for about $750 (by asking $800 because everyone wants a discount). I have helped several people sell their coins using this method and it works for me. It does not really matter what price guides list or what online retaillers list, What matters is what you can get for the coins in your area. Reputible dealers, who buy and sell every day for a living, know the local marketplace so use them (literally).
Edited by coinvet
02/02/2012 5:17 pm
Valued Member
United States
297 Posts
 Posted 02/02/2012  5:33 pm  Show Profile Bookmark this reply Add Granite to your friends list Get a Link to this Reply
It looks like you are getting very sound advice so I just wanted to chime in and say:

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