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 Replies: 11 / Views: 1,936 |
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Valued Member
United States
321 Posts |
Hi. I'm looking at the secondary market price of these new 2011 silver eagles sets and I just feel like they are way over priced. Yes they were a mint sell out and yes bullion is crazy right now. Still, the ask prices on the sets are outrageous. Is there anyone out there who feels the same? If so, what do you think the true market price should be?
William
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Pillar of the Community
United States
7191 Posts |
The same thing happened with the 2006 three coin set after they had sold out going for 6 times issue price on ebay. Wait a year for the frenzy to subside and they will be less than $600. |
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Pillar of the Community
United States
1027 Posts |
I think the long term market value of OGP sets and graded MS/PR69 will be in the $600 to $900 range. Unopened single sets will probably settle a little higher than that and, graded MS/PR70 sets will probably settle between $1000 and $1200. The two unique coins will probably be the bulk of the value, as was always expected. Remember, only one of the coins in the set is a bullion coin, the other four are numismatic items and will always be valued well above spot. The two unique coins will hold a high premium forever.
Edited by clairhardesty
12/11/2011 6:57 pm
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Bedrock of the Community
United States
10982 Posts |
Raw, sealed sets are down in the $650 range now. They may fall a bit more but I don't see these going under $500. 2 key coins and 100,000 total mintage will always make these sets an item to get.
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Pillar of the Community
United States
3345 Posts |
I just checked ebay, the cheapest I saw was $689 |
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Valued Member
 United States
321 Posts |
They sold out before I could get one of these. How much was the mint issue price?
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Pillar of the Community
United States
1027 Posts |
Including shipping it was $304.90 for a single set. The nominal $4.95 shipping charge was good for one to five sets so five sets in one order was $1504.70. I bought five sets one at a time (to get individually sealed boxes) so I paid $1524.50.
Edited by clairhardesty
12/11/2011 8:58 pm
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Valued Member
United States
321 Posts |
Thanks for the reply. Wish I could have gotten one of those sets at mint issue price. I guess I just missed out. I'll try for the next limited edition set they come up with....
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Pillar of the Community
United States
5850 Posts |
One question I have is what effect, if any, silver prices will have on the value of this set? If silver prices soar to $100/ounce, as some people predict, will the value of these sets double? And if silver should drop back down to, say, $10-20, will the value of the sets drop in half?
In other words, is any of the value of these sets based on the silver content, or is it all numismatical?
Obviously, only time will tell...
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Valued Member
United States
321 Posts |
barryg,
That's a great question and you are right- only time will tell. About ten years ago I was buying high grade BU Franklin halves- key dates. I paid good money for them and now dealers tell me the coins are basically worth silver melt now. On some of them that is less than I originally paid. Will the same thing happen to the new eagles sets? Who knows... but I still want one.
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Pillar of the Community
United States
927 Posts |
As we have seen with other silver coins which previously sold for a fair premium over spot price, I would expect these sets to go up in value less than the silver spot percentage if silver were to increase significantly. However, I would also expect these sets to always sell at a premium over spot silver, even if a lesser amount than currently. They will always be a good value. And it is a beautiful set also. I never tire of looking at it.
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Pillar of the Community
United States
1027 Posts |
One data point: when silver was $6, the proof SAE sold for $24.95 from the mint. The three common coins in the set could loose a fair amount of value if silver spot tanks but the two unique coins are detached from spot unless it rises greatly. I think that even if the price of silver falls all the way back to $1.25 that the set will still be worth what buyers paid the mint for it.
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Replies: 11 / Views: 1,936 |
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Posted 12/11/2011 6:56 pm
