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 Replies: 26 / Views: 3,869 |
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New Member
Australia
43 Posts |
Is $700 too much to pay for a 2008 $5 1oz silver coin with a mintage of just 2500? And what about $1300? This coin I want is starting at $700 on ebay auction, but the only other one is buy it now at $1300. I really want it but I'm new to collecting coins and not sure if its too much just starting out as a collector? I don't really have that kind of money for a single coin, but, if I don't buy it now, what if I can't do without it in my collection later on and have to pay more for it in the future? |
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Pillar of the Community
United States
7390 Posts |
What coin are you talking about. A canada maple leaf? Post a link to the listing if you could pls
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New Member
 Australia
43 Posts |
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What coin are you talking about. A canada maple leaf? Post a link to the listing if you could pls It's not a Canadian Maple Leaf. Wayyyyy better!... Can't post it here sry. |
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Pillar of the Community
Canada
5417 Posts |
Doesn't matter what the mintage is. Paying $700-$1300 for a 1oz silver coin is ridiculous, you're overpaying by a factor of 10. You won't have to pay more for it in the futute because NCLT always goes down in value as time goes on. This is a bad investment.
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Pillar of the Community
Canada
2781 Posts |
mintage numbers don't make a coin valuable. if there was demand for this issue, and $700/$1300 was a good price, it would already be sold. the fact that 2 are for sale should tell you that maybe they aren't that rare or are a hard sell.
there is no such thing as a coin that you "can't do without". for a new collector I would advise that you stay away from coins like this that will be difficult to sell in the future.
PS asking for advice on a coin, but not posting the details makes it pretty hard for anyone to give you sound advice. if you are worried about someone buying the coin out from under you, you can relax. collectors dealing in $1000 coins will actively search them out if they want one. again, if it was a good deal/high demand you would be looking at a SOLD listing instead of an active listing.
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Pillar of the Community
United States
589 Posts |
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Valued Member
United States
212 Posts |
The only time I'd pay $95 for a sikver eagle is if it was MS 71
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Pillar of the Community
United States
7390 Posts |
I suggest posting the coin or this will become a dead thread. Wade is correct
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Bedrock of the Community
United States
19942 Posts |
At those prices it better be GOLD!
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
2543 Posts |
I personally think that $700 is way too much to pay. Being a new collector means you should stand back and "get the lay of the land" as they say. Don't get sucked in by mintages or by ebay prices. Neither is an indication of the worth, collectiblity or long term value of a coin. Quite often low mintage is done to create artificial scarceness/collectibility for a coin that no one wants, or only a certain small amount of collectors will want or ever want. For $700 you can start quite a nice collection of coins. |
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Pillar of the Community
United States
1911 Posts |
Only $700 1 oz coin I have ever seen was a PR70 Wedge Tailed Eagle... but even then I would much rather spend it on a coin for my 7070. Or 2 or 3 for that amount.
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Moderator
 United States
23522 Posts |
Schadenfreude is a far tastier emotion than regret. Unless that 1oz silver coin is at least 100 years old and in Mint State condition - that kind of price will buy an MS66 Morgan - let someone else pay that ludicrous money so they get the latter emotion and you get the former.
It may be a legitimate coin - we don't know because you won't say - but if it's a Modern issue of any sort the price is almost certainly a scam. Our wonderful hobby is afflicted by many "members" whose wallet size greatly exceeds their common sense. They are the reason for prices like this.
Is it legal tender, even?
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Pillar of the Community
United States
7390 Posts |
Oh SD... another reason your topps in my book. Not many people even know what schadenfreude is let alone know how to properly use it in a sentence.  |
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Valued Member
Japan
349 Posts |
Just in case it is a 2008-w/2007 reverse "error" silver eagle, then I recommend you shop around. I found two coins on ebay now for about $700 and $1300 shipped to Aus. (The others only ship to US) But there are many more available...mintage is much more than your figure, actually 47,000 !! If you remove the word "error" from the search they show up. Otherwise I can't think of any 1 oz coins from 2008 that people will pay $700 for. |
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Bedrock of the Community
United States
20753 Posts |
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This is a bad investment. Kind of says it all. |
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Valued Member
Canada
261 Posts |
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Just in case it is a 2008-w/2007 reverse "error" silver eagle, Yeah, I thought of that one too, but they're only $1 face and the OP said it's a $5 coin. To answer the OPs question, Yes $700 is too much. The price is way out of line for a modern 1oz silver coin, the identity of which you do not wish to share with us. |
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Replies: 26 / Views: 3,869 |
Posted 06/08/2015 11:37 am
