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 Replies: 30 / Views: 3,180 |
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Valued Member
United States
88 Posts |
So I've decided to take a break from paper money for a while and try and focus on coins- specifically Silver Eagles. With what little research I've done, I think that I am going to try and have one from each year all the way back to 1986. I'm doing this on a low budget- really only able to get about 2 coins a month (I'm 16 and my income isn't always consistent).
I would like to hear your all's thoughts on perhaps how I should come about this; whether collecting by grade, mint, proofs/ cameos, etc. I know that there is no "1 right way" to make a collection and that they vary from person-to-person, so I would just like to know how you have set up your collections in the past (not necessarily ASEs).
Thanks!!
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Bedrock of the Community
United States
36575 Posts |
A wise decision grasshopper! I would avoid proofs and burnished uncs for now and get a date set put together of bullion coins, one each date 1986-2012. Then when you have more money branch out to the W Mint and Proofs. Silver is down right now and best to buy the bullion coins (around $30 each except 1996) before silver rises again.
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Pillar of the Community
United States
4901 Posts |
....and from the other side I would suggest you start with the burnished W's since there are only 5 (one S) of them....then start on the proofs....and maybe throw in a RP or two (or three)....the bullion ASE's are basically all the same price (with a bump for the 1996) so there is no rush to get those...whenever spot silver drops a bit grab some bullion dates |
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Bedrock of the Community
13014 Posts |
Agreed with fox. I would stick to the coins that have more of a collectors value for now and wait a bit on bullion. Silver could spike again but I'm thinking well see another drop before that happens where you could get the bullion ones cheaper
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Valued Member
United States
223 Posts |
The thing I have noticed with the proofs is that they tend to stay in the $60-$75 range. If silver goes back above $30 or beyond then you should be buying the bullion now. The proofs don't seem to rise as rapidly as the price of silver.
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Bedrock of the Community
13014 Posts |
Quote:
The thing I have noticed with the proofs is that they tend to stay in the $60-$75 range. If silver goes back above $30 or beyond then you should be buying the bullion now. The proofs don't seem to rise as rapidly as the price of silver. True but they also dont fall as rapidly either. If silver goes up yes bullion is great, if it goes down however its a different story. The proofs usually at least hold their value and if you get the 70s many of them gain a nice premium over time |
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Valued Member
United States
223 Posts |
So if you believe that silver is currently low, as I do, the bullion coin is the better buy.
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Bedrock of the Community
United States
36575 Posts |
Quote:
The thing I have noticed with the proofs is that they tend to stay in the $60-$75 range. If silver goes back above $30 or beyond then you should be buying the bullion now. The proofs don't seem to rise as rapidly as the price of silver. This is why I recommended getting all the bullion coins first. There are far more bullion coins to get. $100 for the 2006-W and $70 for a 2008-W burnished coins will not move price wise if silver jumps $5-10. Bullion coins will move up fast with silver prices. There is time to get the collector versions later and if silver prices get up high enough, you'll get the collector versions priced closer to the same bullion coins. I saw that happen in 1979-80 with circ and BU Morgans. |
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Bedrock of the Community
13014 Posts |
Quote:
So if you believe that silver is currently low, as I do, the bullion coin is the better buy. Yea for quick flips unless you think the spike will be huge, for long term I think the 70s are the better bet. I believe its low too, but that its being held artificially low because everyone wants it that way. How long they can do that is anyones guess but theyve done a good job so far |
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Pillar of the Community
2222 Posts |
 jmorgan Quote:
I know that there is no "1 right way" to make a collection and that they vary from person-to-person Well, you certainly proved that right with these varied responses! I suppose you are going raw vs graded/slabbed? The one thing I would suggest then is you hand select your purchase for quality. Although the ASE will always hold its value due to it being .9993 silver, the numismatic value will fluctuate with the coin's condition (ie a beat up one vs a MS 65 vs a 69). Also look out for finger prints and spots. You will see toned ones also and in my opinion the tone makes the ASE look like a totally different coin. That is a personal preference. There are alot of bullion strikes out there that look like they have been through the ringer. You will appreciate a pretty one much more that a beat up one. Don't forget to think about how you will store them. They are a beautiful coin and design, whether bullion or proof. You can tell I love em. Best of luck and ask away........ This is only some of my complete set less the 95 W:   Edited by southsav
07/06/2012 10:15 pm
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Bedrock of the Community
13014 Posts |
South nice picture, whats that bottom one 2nd from the left? Cant figure out what that slab is
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Pillar of the Community
2222 Posts |
That's a 2004 ASE someone put in an aftermarket slab. |
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Pillar of the Community
United States
1770 Posts |
nice collection south, thats definately the way to go start collecting the whole set from 1986 on
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Bedrock of the Community
13014 Posts |
South thanks. Interesting too, never seen an aftermarket slab
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Pillar of the Community
United States
1208 Posts |
One thing I noticed when I put together my set of business strike ASEs is that most of the time, these coins are NOT treated well. I have even had dealers, that should have known better, hand me ASEs with their fingers on the faces of the coin! They are a thing of beauty, but people don't see a problem with putting fingerprints all over them, or dumping them out of their tubes in a violent clash. What I am getting at, is that a pretty ASE will cost the same as an ugly ASE, but you'll have to look through many of them to find examples nice enough to put in your set. Most you find will be thoroughly abused, but will cost as much as a cherry example. So be patient. |
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Pillar of the Community
United States
1208 Posts |
If you are lucky enough to have a metals broker near you, they will sell ASEs for much less than a coin stealer... er, dealer. My local broker gets spot +3% for any silver he has. Now, since he is not a coin dealer, he will not keep a dedicated supply of any particular dates or conditions. To him, the ASE is an ounce of silver, nothing more, nothing less, so you are more at the mercy of his inventory than a dealer that might take a bit more care in making sure he has a variety of dates. Again... be patient. |
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Replies: 30 / Views: 3,180 |
Posted 07/06/2012 4:48 pm
