New Collector Question About Silver Eagles

Grading is a end user process. THe mint doesn't grade coins or send them in for grading..
From the mint you can buy Proof coins or UNCs or bullion coins.

Modern ASE's, in my opinion, aren't worth grading.. You would EXPECT them to grade 69 or 70. It's really all about preference.

you can buy bullion versions for as low as 17.50 each.. The proof and UNC's will be sold at a higher price from the mint.

Ah, so there's really no value in the ASE 's yet.....Just wondered if someone would pay $80-180 for an ounce silver coin and feel good about it. Id rather assume the Mint's proof ASE is at least a MS 69 or 70 and pay $49.

So the OGP of any ASE proof coins I buy is what you're saying you prefer? Do you think I'm doing the right thing by starting my ASE Silver and Gold collection through the US Mint (actual gov site) and buying proof coins for potential highest quality and maybe collectability?

There are collectors for eagles in high grade but be wary of paying large premiums if you can't tell the difference. This especially applies to proofs since high grades are the norm rather than the exception. Look at some raw coins before paying premiums. Be sure you know what you're getting and how tough it really is.

The US Mint charges a high premium at times for things. It's not uncommon (especially if silver/gold prices fall) to see the exact same coin on the secondary market for a lot cheaper than direct from the US Mint. So, you need to do some price comparisons. Proofs are nice, and since they have a lower mintage, they will probably increase in value over the years. Unfortunately, since they are only produced for collectors, it may take a while for the numbers that exist to be stored in long-term-semi-permanent collections, and then have more new collectors wanting to get their hands on them (which will then drive prices up)...but collecting "bullion" regardless of the inclusion of a mint mark or proof isn't something too gretaly embraced by the collecting market at this time.

And, prior to 2006 the Bullion and Unc issues were one in the same. There were no differences between the coins, at all. However, there were (and are) two versions of the bullion issue, one produced at West Point, the other San Fransisco. The only way for them to ever be sold as a (S) or (W) is to have them graded (since, you cannot be sure if a raw coin is from anywhere without a mint mark), and the only way grading companies will put it on is when the coins are sent to them in (I believe) mint-sealed Monster Boxes. Collecting your bullion with the inclusion of (W) and (S) forms of bullion coins will obviously increase the value of the set (as it makes it even MORE complete), but the hassle in trying to amass such a set, plus hoping to find a buyer who wants that kind of completeness and is willing to pay more although it should theoretically be more value could present a problem in the future.

If you're collecting for your own enjoyment, decide on what and how you want to collect eagles. If your collecting for investment, and want to stick with eagles, then the same rules apply. If you're wanting to buy for investment purposes solely, then eagles are probably not the best things for you, except the 1996 ASE.

For proofs and UNCs maybe. To me it is a wonder that any bullion coins get MS70. To me that is the collectible one prior to recent automation at the mint, the bullion blanks were all stacked together in stacks of 100, fed into the presses, slid down into trays, then slid together and dropped into tubes.

As opposed to proofs and UNC's which are minted and packaged individually. Here are the interesting figures.

2014 ASE .......44,006,000........NGC;PCGS MS70's..........303,568............1 in 144

2014 Proof.........741,379........NGC;PCGS PF70's...........48,069............1 in 15

2014 UNC...........224,548........NGC;PCGS MS70's...........17,277............1 in 13

So using this logic, a MS70 bullion coin is far more rare (conditional rarity) than either of the others.

For those numbers it would be more useful to compare the 70s to the total number submitted for grading, not minted. Some people just buy tubes and tubes of the bullion coins to add to the stack, never to be graded.