Need Some Help With American Silver Eagle / ASE

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Author	Replies: 10 / Views: 1,781
GFR3 Valued Member United States 473 Posts	Posted 05/16/2008 12:52 pm Surfing ebay last night looking for a lot of Morgans/Peace dollars the idea hit me....why don't I get some American Silver Eagles? I've been buying silver dollars the last year or so at the rate of about 4 a month give or take. Not really collecting them, but more of hoarding for silver contend. During the past year, I've basically finished off all modern series in US coinage and have been branching more and more into classic series though, as we all know, that can be an expensive journey. Basically I came to the conclusion that it would be cheaper, and more fun, to combine my two buying habits into one and collect modern silver coins....which leaves the beautiful ASE. I know pretty much nothing about the series except that there are proofs and UNC types, and that there are two reverse-types of 2008. What else should I know before picking up any of these coins? The key date is 95W, any others? Are market prices typically in tune with Red Book prices, or is Red Book slightly high? Any other advice and/or pointers you got for me? thanks everyone, --gary Report this Post to the Staff

lucifer Valued Member United States 189 Posts	Posted 05/16/2008 2:03 pm Proofs 1986-2008, basic nothing special 93-97 are all pretty expensive. And you know the 95-W which is like $5k. Now as far as Unc's go there's a bit more to know. 1986-2008 there is an Unc. bullion piece with no mint mark on it. 2006-2008 there is an Unc. piece that you would buy directly from the mint with a W mint mark on it. In 2006 a 3 coin proof set came out with the proof, Unc. with the W and a reverse proof. This set can run around $350. And last but not least this year 2008-W Unc's came with a 2007 back on them. This is more of a variety/error but is a sort of key coin and is quickly rising in price. Anything I missed guys? Enjoy ASE's! Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 05/16/2008 2:29 pm Ignore RedBook pricing since the value of bullion ASEs is in direct relation to the price of silver and it fluctuates enough that any guide will not accurately reflect a true value. Figure a 15% premium over silver spot for an average price. 1996 is the key for the investment-grade bullion coins and they sell for $50-70. The proofs are more stable in pricing since they have a collectors premium plus silver value built into the price. Unless you have unlimited funds, forget about the 1995W. ~35,000 were minted for inclusion in the 10th Anniversary Eagle set with the four sizes of gold Eagles and that coin is now worth $4-5000, which IMO is too high for a modern coin with an almost 100% survival rate. Edited by biokemist6 05/16/2008 2:32 pm Report this Post to the Staff
st3rling Valued Member United States 90 Posts	Posted 05/16/2008 2:30 pm That's pretty much from what I've known in the short time I've been interested in them. Not too complicated. In terms of the Red Book, they show a bit higher than what you usually get most of them for. If you look hard enough, common proofs can be found for $5-$10 more than what the uncirculated go for. And they usually come with the box and COA. Sometimes, the proofs can be found for the same price the unc's are going for! SAE's have an odd thing about them that they are also bullion. So even though you are looking to satisfy your numismatic and silver hoarding sides at the same time, SAE's still are bought and sold into these two categories. Unfortunately and fortunately, sometimes one crosses over to another and that's sometimes where the deals (good and bad) are. The price of silver plays a part in all this so keep an eye out on that too. Enjoy! Report this Post to the Staff
GFR3 Valued Member United States 473 Posts	Posted 05/16/2008 2:37 pm With the price of silver down (sorta...) I figure I better get the cheapies now before it shoots up again. So what should I expect to pay (going by todays silver cost) for the average priced unc ASE? $20? Proof $30? Report this Post to the Staff
st3rling Valued Member United States 90 Posts	Posted 05/16/2008 2:39 pm Oh and btw, if you are looking to satisfy your silver hoarding desires but still get some collectible fun out of it without the SAE premiums, look into silver rounds. Lots of nice designs to look for, usually go at about spot price, sometimes even less. Local dealers get them from people and they usually don't care what they look like, they price them all the same. Other alternatives unless you are strictly collecting USA coins are other country's silver coins. Canada has the Maple Leafs (Leaves?), Australia has the Kookaburra coins among others, Silver Britannias, Chinese Pandas, etc. These have premiums, but sometimes less than SAE's as well. Again, enjoy! Report this Post to the Staff
st3rling Valued Member United States 90 Posts	Posted 05/16/2008 2:45 pm Quote: With the price of silver down (sorta...) I figure I better get the cheapies now before it shoots up again. So what should I expect to pay (going by todays silver cost) for the average priced unc ASE? $20? Proof $30? Depends on where you buy it. Averaged price unc ASE these days on eBy is about $22-25 shipped for the common dates. Sometimes less, especially if you combine shipping, or if you can hop on a good deal. Buying more at once gets you a better deal too, but then you start getting into the bullion hoarding aspect when you start buying rolls to save money and shipping. You can do better online outside of eBy at the bullion sites as they fluctuate with the silver prices. Local dealers, your experience will vary. From what I hear, some dealers are just about at spot price, while others have a +$3.00 premium. I'm sure it'll be somewhere between there for you. A dealer relationship would come in handy here. Proofs, yeah, about $30 shipped is a decent price these days. Less if you look around hard enough. There are deals to be found. Edited by st3rling 05/16/2008 2:46 pm Report this Post to the Staff
Elimist Pillar of the Community United States 632 Posts	Posted 05/16/2008 5:37 pm The dealer in my town sells the Unc. ASE's for 25 dollars each. I was thinking at the time, "Well I can go online and get it for 20 dollars, so why would I buy one here." Yeah thats true but you also have to figure in shipping. So the only way for me to economically buy one online is to combine it with other coin purchases from the same site. So my advice is, order online if you plan to purchase several items, since the shipping will most likely be a standard rate flat fee. If you plan just to get one, maybe another one later, go to a dealer and have at. If your just buying for buillion then unc. coins are the way to go as proof coins would go in dansco collection or something like that. Not that I'm telling you anything you dont already know, plus I just read sterlings post above mine and I'm pretty much just repeating everything he said. But the replys all typed now so I'm not going to delete it. Report this Post to the Staff
GFR3 Valued Member United States 473 Posts	Posted 05/16/2008 11:02 pm Yea, shipping can be a pain in the butt. I think for now I'm gonna work on getting the unc's then try and knock out the proofs, or most of them at least. That 95W hole is sure as heck gonna nag at me for quite some time I'm sure. Tell yous what though--when I win the lotto, Lucifer, biokemist6, st3rling, and Elimist, I'm gonna buy each of you a 95w or two :) thanks for the tips, i'll be sure to keep everyone posted as I fill up the album. Who knows...maybe i'll even throw in some pics! thanks, --gary Report this Post to the Staff
st3rling Valued Member United States 90 Posts	Posted 05/17/2008 04:34 am Yahoo! C'mon, any week now, I know you can win it! I'm counting on you. Report this Post to the Staff
GFR3 Valued Member United States 473 Posts	Posted 05/17/2008 12:48 pm Well, I put my foot in the water a few minutes ago and picked up 5 UNC examples for $90 shipped. That's only a tad over spot, so I think its a good deal I found. The years are 2002, 03, 04, 05, 06, and 08. The pics look good, but you never know until the coins are in hand. I'll let you guys know once I do --Gary OH, and I'm picking up some lotto tickets tonight after work...cross your fingers Report this Post to the Staff
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Need Some Help With ASE