Overpriced 1986 MS-70 American Eagle S $1?

The seller is cleverly taking advantage of PCGS's valuation,
and advantage of some people's lack of knowledge, hoping they
have more money than smarts, along with just the right amount
of greed. He is being dishonest, and he knows it. However, he
is not doing anything illegal. This is a buyer beware situation.

I do not believe he is being dishonest in the least. He clearly states where he gets the value from and clearly shows and states the coin as being NGC. There are no deceptions, no lies or tricks.

How is saying this coin is NGC MS70. PCGS values it at 21 grand. I want 19 grand dishonest?

You're right. Dishonest is probably the wrong word. A bit deceptive though, maybe. I believe the seller knows the coin isn't really worth that much, but if he can get you to pay that much, well........

And sometimes it isn't worth that. It depends on how knowledgeable the buyer and sellerare. For example, put up a fake 1795 dollar and someone buys it for $3000. Does that mean that fake is REALLY worth $3000? After all that's what someone paid for it. No it doesn't, because the buyer didn't know what he was buying. Or if an unknowledgeable seller puts up a rare variety not knowing what it is and someone who does buys it for a song, does that mean that rare variety suddenly isn't worth much at all?



No he's right, the original purpose of the Bullion ASE's was just to get rid of the governments silver stockpile. They were only supposed to continue until the silver stockpile was gone. Once it ran out though (I think 1989) there was so much insistence for the coin to continue that the government now has to go out onto the open market to buy silver basically at spot, pay to have it made into planchets, coin them, and then sell to to the distributors for $2 over spot. I'm sure the government isn't making that much on them, and of course if the spot price goes down they are losing money. (They made money on all the pre-1989 coins though because they were using silver they had paid $1.29 an oz or less for.)

People don't collect these for the silver value. It does not matter if it is bullion, proof, RP or EU. Look at the history of collecting, not just coins, but anything. Most of what people pay high dollars for has little to no intrinsic value. People pay top money for these because they have a desire to possess something that no one else, or just a tiny handful of other people possess.

No matter what YOU value the coin at, from now until the end of collecting time, anyone who wants to collect a complete set of PCGS MS70 American Silver Eagles will have to come through 3 people. That is why some one would pay big bucks for a PCGS.

Saying this coin isn't fit for collecting is the same as
saying the Trade dollar is not fit for collecting. That
coin was the ASE of it's era.

I agree with ratio411. By definition they are coins.

Do I collect them? No. I just have one for my 7070. But there are a lot of other coins in my 7070 that I do not collect as sets. This is a personal choice, one that I may or may not change.