Dealers

You are better off having the ms70 on ebay or cosigning it to a respectable auction house. You may loose 20-25% but at lest you will get fair market price for it.

The dealer probably thought it was just a regular bullion Eagle.



See above, this is NOT a bullion Eagle and is definitely worth more than silver. It is the first year issue of the Uncirculated(burnished finish) Eagles meant for collectors. This coin was sold as part of the 20th Anniversary SAE set, the 20th Anniversary Silver and Gold Eagle 2 coin set, and individually. The total mintage for the 2006W was 470,000 with only 200,000 sold individually.

It all boils down to this - know your market for what you sell, whether you be the customer or the store keep. if you are taking things into someone's store to sell them - SELL TO THE RIGHT STORE! Obviously this guy is in business to buy and sell what he wants to buy and sell, which obviously isn't certified specailty bullion coins.

Now...my question would be - Did he have similar pieces for sale? No? This should have been your first clue that this guy has no clue what these are and doesn't deal in them. Yes? Then the guy is a crook.

Bryan1234 illustrates a VERY important point. He doesn't understand (or care to understand) the market in these, and makes his statement based on HIS reality - he wouldn't buy the coin for over melt, regardless of what it is. There are dealers who think that way as well. You want to sell this coin and maximize profit? Sell to a modern coin dealer - not to a classic coin dealer!

I really wasn't even going to sell that coin. I went in to see if they could tell me if my Morgan was artifically toned and its value. But thought what the heck let's see what they think this is worth. They offered $18 for the Morgan and $40 for the Eagle.

Checked the price on common ms65 Morgans lately? They used to be $400+ wholesale until speculators realized that there were tens of thousands of them, and nowhere near that many collectors. I forget the bullion issue, but something ridiculous like 70% of the ones submitted were getting ms70.

OK, so ms70 is a nicer coin, worth 17% more than a ms60, according to the creator of the 1-70 numeric system, but if MOST of them are MS70, then they are not scarce, not rare, not even rare in that condition. The term for them is typical, and a typical issue is not worth five (or more) times any other typical piece of bullion, I don't care HOW you try to finagle the bagel.

Allen's has been around even longer than I have. They're in Westerville, a Columbus suburb. Allen sold it to his son years ago. If they have a decent price for what you want, go for it.

Email or call me if you want more info.

Thanks for the info biggfredd. I feel more comfortable ordering from them now. I was actually in there on Valentines Day, but there was a line out the door of people who were selling and only one person to help those who were buying. I was going to buy about 30 rolls, but I got tired of waiting and my wife was getting impatient with me.

I'm saying if you look at the numbers, I'll bet you find that there are a bunch of ms70, so people buying them are paying $154 for the case and $40 for the coin. Put another way, ask yourself what you'd pay for that coin raw, and anything more than that amount is what you're paying because it happened to get ms70 that day.

Collect silver eagles if you want, but think twice before you assign a value of five times on what is a pretty typical condition coin. MS65 Morgans didn't drop from $400 to $40 because they lost collector value, but because they were $40 coins all along.

Keep in mind this opinion is coming from someone who can remember seeing display cases with bags of bu dollars your choice $4, PLs $4.25.