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 Replies: 13 / Views: 1,046 |
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Valued Member
United States
136 Posts |
Hi all, Just bought my first coin (other than a couple Indian cents off ebay). It's a 2007 Silver Eagle for 10 bucks total. Good deal? I looked around and see that prices are all over the place on ebay starting at a buck (but I've not seen them actually sell for under 10) to 27.95. I thought this might be a good opportunity to ask anyone if they ever go for "introductory" deals from coin places. I learned already not to go to Littleton Coin as they send you items in the mail. However, true to their word, I cancelled immediately and have not received any coins since. So my "deal" was worth it. I don't mind receiving literature. I may or may NOT buy (mostly not); but it's fun looking anyway. This coin has the NGC hologram on it. Is that what I need to look for? This came from the RedBook. Inside the cover was the offer... so I called and asked if I'd receive coins or am joining anything and they said NO; just to make you aware of their company and they may send mail. I am ok with that. I then researched prices and think that it's always going to be worth what I paid or more and that to me seemed a good deal so I got it. Am I right? Lastly, this might be another place for people to share other "introductory" deals with us all here. Maybe more exist we can all share in? |
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Pillar of the Community
United States
6326 Posts |
well.......an oz. of Silver is worth about $15.00 right now.....so just with that it's a good deal !!
If it's proof or uncirculated will matter in price too.
good buy in my book !
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Pillar of the Community
United States
6326 Posts |
the 2008 Silver Eagle "proof" is selling for $31.00 - $32.00 on the U.S. Mint website (and from the Mint is where EVERYONE has to get them from originally) they're the only place that makes em' !! Ha Ha LoL
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Valued Member
 United States
136 Posts |
Thanks for responding. Yeah, it will matter as this is "GEM uncirculated" in the heavy case. with a number... like I said I am a newbie but thought I couldn't go too wrong with my frist buy as everyone keeps telling me Eagles are a good bet. Just wanted to share as everyone can get one too by calling from that RedBook page. I'll be on the lookout for more deals in the future (still looking for that metal detector as well). |
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Pillar of the Community
United States
6326 Posts |
Dahoov... I think the Uncirculated Eagles are selling on the U.S. Mint for about $6.00-$7.00 cheaper than the Proofs.....but can't remember for sure. And yeah I remember that offer in the RedBook too, but I never followed up on it. I think I will now......... kinda forgot about it.......that's a nice deal ! So it's "Slabbed"....... that's good.......but as they say....."buy the coin not the slab" "Slabbed" usually drives the price up for sure and for "moderns" that could be tricky sometimes........... but with your deal.......HECK I'm ORDERING ONE TOO ! |
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Valued Member
United States
136 Posts |
So, they say "buy the coin not the slab" because sending it to a party to grade it inflates the price? I guess because they gotta pay for the grading? Well, that brings me to the question about ungraded uncirculated coins. Can they all be trusted? I know the mint even sells those too right?
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Moderator
 United States
187702 Posts |
Also, because grading is often subjective. Even with the big three TPG, you get over-graded specimens. So, when you go to buy, determine the value by looking at the actual coin, not the description labled on the slab. |
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Pillar of the Community
United States
560 Posts |
It sounds like a good deal to me. $10 for a coin worth $15 dollars melt value. You did well. As far as uncirculated goes, the grade has very specific benchmarks that must be met. You should grade the coin yourself - or post it on the practice forum for advice from others. If you coin is slabbed how accurate the grade is will depend on who did the slabbing. PCGS is considered the best - several others (check the TPG forum) are not as trustworthy. That's where the "buy the coin and not the slab" saying comes from. I've seen many ASEs graded as "brilliant uncirculated" by sketchy third party grading companies. These are bullion coins and are mainly "circulated" by bullion dealers. Some of them remain in near MS condition while others get pretty banged up. It took me a long time of going through a bullion dealers stock of so-called uncirculated coins to find a 1987 eagle that I wanted for my collection. If it turns out that this coin isn't the grade you want, there should be no problem going to a bullion dealer and trading for one in a higher grade of the quality you want. A one-to-one trade would be fair - I wouldn't pay any more for a higher grade (non-proof) coin if you're trading the same year. |
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Valued Member
United States
280 Posts |
OK, here's an inside tip on what you did sign up for. I did do this same deal awhile back. You do get the coin (it sounds like you already got it). I believe the company name is Universal Coin and Bullion, but they also go by other names too. They will call you about once a month and try to sell you overpriced coins, and I mean OVERPRICED. The first few phone calls, I gave them excuses to get them off the phone, but they still call back. I got them to stop calling by quoting prices from APMEX.com (have the site up on your computer when they call you) for every overpriced coin they offer. Once the guy knows you are not stupid, he takes you off the list because he knows he's wasting his own time by calling. |
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Valued Member
United States
280 Posts |
Few introductory offers from littleton are actually worth it, but they do cancel your subscription promptly and without hassle.
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Rest in Peace
United States
3730 Posts |
I have the same coin from the same company.
Yes, $10 is a good deal.
But, the extra price I have paid is something like 15 telephone calls from the company.
We have "caller ID" and I just don't answer the phone when they call.
I like the coin, but don't know if it was worth the hassel.
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Bedrock of the Community
United States
20753 Posts |
You really did OK with that deal. There have been good and bad things said all over the place about that company Universal Coin & Bullion. However, I too sent in for that deal two years in a row. When I called them they ASKED if it was OK to call and/or send me info occationally. Since no obligation, sure why not. And they do. They never send coins like Littleton. They just send documentation about some of their great deals. Also, they send some nice information as to bullion prices, coin values, basic and general information. I've kept lots of it as very informative. A few years ago their offer was for 2 such coins and someone I know got three of them. He only paid $10 each for two. Naturally he said nothing. They've only called a few times but I just said sorry, not interested at this time but keep me on your mailing list. |
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Pillar of the Community
United States
749 Posts |
I feel they have a great intro offer. I purchased two '07 ASE earler releases from Universal Coin and Buillion...also called First American Reserve. The person I spoke to was very nice, informative and helpful. They did call back a few (4-5) times but I was persistant with my "no but thanks for the offer." They mentioned that now is the time to buy gold..I said.."Um.. no about 5 yrs ago was the time" I cannot fault them for trying. I was very happy with their service. I have also purchased coins from Littleton, wonderful company to deal with. I plan on purcahsing much more from them. |
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Valued Member
United States
136 Posts |
Well, I appreciate the offer. We told the guy at the time NO calls please (we mentioned we too have caller ID and don't answer anything other than calls we know like family, work etc). I don't mind junk mail so cool with me. The only problem with that is waste of trees. I recycle so that helps a little. They've not called me yet.
I had this problem with a comic company. I bought a signed card from them (paid too much as the way I see it) and then they bugged me forever till I actually got mean (they were calling me at work).
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Replies: 13 / Views: 1,046 |
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Posted 01/11/2008 11:55 am
