Why Buy ASE

Whoops! Yes, I knew that. I just can't type.

Apparently I can't proof read either.

I think they should do like the UK does with the Britainicas have 2 designs to sway put every other year, and then every few years change the design of the ASE. They can keep with the emblematic design of Lady Liberty on the front and Eagle on the back but change the design some to make it more interesting.

I think you folks are missing the point on the ASE program. It is and was never intended to be a program that created coins that might be collectible or go up in value in the future. It was designed to simply be a way to ONE sell off the surplus silver stockpile and two provide a way for citizens to be able to buy silver at a small premium over spot. There was never any intent that these things would ever be worth more than the spot value of silver. The Proofs and Unc W's where their attempt to make a numismatic coin out of them. For the most part they have succeeded.

Sorry to the folks that collect them....but...

I only see these as bullion too. I agree 100% with Condor.

One thing that many collectors don't realize is that the ASE is the only way to hold physical silver in a tax-sheltered IRA. Well, a few other bullion coins qualify (they have to meet fineness standards and be monetized - like the Canadian maples and Austrian Philharmonics).

This aspect makes the American Eagle program very attractive to certain types of investors. I would be very interested to know who holds more - collectors, speculators, or long-term investors.

I've never been a big fan of the ASE's. I tend to only buy them when I think it may be a low production year. They carry to high of a premium to buy them as bullion and usually have too high of a mintage to be rare as a collectable. 90% silver as bullion for me and there are much more interesting and pretty coins out there to be collected. Of course that is only my opinion.

Who told you that? Even if you buy them through a self directed IRA the profits have to be rolled right back into the IRA and then when you're eligible to start drawing the proceeds are still taxed. Now it you buy them in a self directed Roth IRA you wouldn't have to pay tax on the profits as long as you don't take them out before 59 1/2.

One problem you have with the idea of gold or silver bullion coins in an IRA is trying to find someone willing to act as the caretaker and hold the coins for you. Most don't want to do it and if they do you tend to have to pay storage fees etc. You also can't buy or sell the coins, they have to do that. And you can't have physical contact with the coins. (This tends to rub people who believe that when you buy gold and silver you should take physical possession of it the wrong way.) You are frequently told you shouldn't let some one else store you PM for you, but with the self directed IRA's that is exactly what you have to do.

I collect all the varieties of the ASE - bullion, Unc and Proof and would agree, for the most part, as an investment they are not bringing the returns that many other coins would.

BUT, I look at them the as a parallel to the history of the Morgan dollar - a coin produced primarily to use up the vast amounts of silver being mined at the time - that was produced as a unit of currency, but also not expected to be of great collector interest.

No one at that time would have thought that A) the dollars would mostly wind up melted down for bullion or B) that they would ever have a premium (i.e. collector value).

I have been a fan and collector of the ASE's because I believe it is a low-cost way to get a pedegreed silver coin (in all the varietie offered) that you can still actually complete as a set (with the exclusion of the 1995 10 year anniversary version and the 2008 w/07 reverse for the Unc). In short, this is a great collector series with a fabulous design (a.k.a. the Adolf Weinmann Walking Liberty half dollar circa 1916-1945) that the new coin collector could probably complete, as compared to the Peace dollar, Morgan dollar or any other US silver currency (with a few exceptions, that will be readily found in this forum).

My biggest frustration is that the U.S. Mint does not take this seriously, as they dropped the ball by not producing a 2009 Proof ASE. By my estimation, based on the profits I estimate they make on proofs, they missed out on an easy way to add money to the U.S. Treasury (when people like me would readily buy these coins at well above the cost of silver and cost of production).

I hope the mint continues this series, as it is a fantastic way IMHO for the budget collector to begin, enjoy and possibly complete a silver dollar collection.

Best of luck in all your collecting goals and Happy Holidays!