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 Replies: 16 / Views: 3,099 |
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Valued Member
United States
420 Posts |
Hello, I was reading an Article in Coin Values, the Nifty and Thrifty column (October 2009 - yes I'm still behind but catching up) about Silver American Eagles. Those come in Proofs and I love Proofs and I was thinking of collecting them but because I understand them to be 1 Ounce of Silver the spot prices will have an effect on the coin prices. Also there are about 4 or 5 pieces in that collection that are way out of my price range so I may never own those pieces but the rest are reasonable. Anyway does anyone have any experience with these coins? I have devised a system for myself when buying any coin or set and I'll use the 1986 Silver American Eagle as an example. Coin Values Price - $50 10% off Coin Values Price - $45 12.5% off Coin Values Price - $43.75 15% off Coin Values Price - $42.50 Silver Spot Price - 1/19/10 - $18.64 per ounce Based on the numbers above I would not allow myself to pay anymore than $45 for this particular coin in Proof 65. Although I would try to negotiate to as low as $42.50 or maybe even $42. What does the spot price mean in all of this? That is where I'm confused. I have used this system for Proof Sets and Modern Proof Commemoratives for over a year now and have never "over paid" for a coin based on any given coins Red Book or Coin Values prices. I haven't gotten a ton of deals but I have gotten a few. Any dealers or collectors out there who might want to give me some tips on collecting American Silver Eagles or my pricing system please help I would greatly appreciate it. Thanks, Rich |
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Pillar of the Community
United States
2520 Posts |
Numismedia lists 1986 proof in PR65 at $25.00, and PCGS website lists same coin at $28.00 (slabbed).
Edited by ratman4762
01/19/2010 12:29 pm
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Bedrock of the Community
United States
12437 Posts |
Spot price does not have much bearing on the proofs, only the bullion coins. Proofs are the collector version so they tend to have a considerable premium added to the value, usually 50% or more. There were no 2009 proofs minted but I believe the Mint originally sold the 2008 proofs for almost $30.
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Pillar of the Community
United States
2797 Posts |
Rich, The majority of these coins would grade PF68 or higher. A PF65 in modern ASE's would equate to an "impaired proof". You may not be able to find any of that grade (I would also doubt their investment potential). The pricing increments between 65 and 68 are also negligible, so I would not look for anything below 68. |
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Valued Member
 United States
420 Posts |
Hello,
Thanks for all the posts so far. Based on everything I'm confused. Why is Coin Values so much higher than Numismedia? Who is closer to the real price? Based on this info I would go off of a PF68DC and readjust my scale to
10% off Numismedia - $38.70
12.5% off Numismedia - $37.63
15% off Numismedia - $36.55
I'm very upset about this who is "right" Coin Values or Numismedia?
I'm going to start using both Numismedia and Coin Values.
Please keep the advice coming.
Thanks,
Rich
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Pillar of the Community
United States
2335 Posts |
I always check what things are selling for on ebay & go from there. That seems to give a "real world" retail price; one that anyone can buy for. |
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Valued Member
United States
420 Posts |
Hello, Quote:I always check what things are selling for on ebay & go from there. That seems to give a "real world" retail price; one that anyone can buy for. I'm a little skeptical about bidding on ebay I usually do buy it Now but the cheapest Buy it Now price for a 1986 Silver American Eagle Proof was $58.00. I saw an auction for the same coin with 1 bid and the current bid was $1.00. The picture of the coin looked good it had the box and COA and the seller had good feedback. Does that sound too good to be true? Thanks, Rich |
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Pillar of the Community
United States
2797 Posts |
Quote:I'm a little skeptical about bidding on ebay I usually do buy it Now but the cheapest Buy it Now price for a 1986 Silver American Eagle Proof was $58.00. I saw an auction for the same coin with 1 bid and the current bid was $1.00. The picture of the coin looked good it had the box and COA and the seller had good feedback. Does that sound too good to be true? Thanks, Rich Rich, It won't end at that price. Those auctions normally get a dozen or more bids in the last minutes. Save a few of these and look at the close price at the end of the auction. That way you'll get a feel for true market value. |
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Pillar of the Community
United States
619 Posts |
Like trdhrdr, I use ebay as a "reality check" for that is what people are actually paying for an item. Don't forget to add in the shipping for the winning bid total. Between ebay and Numismedia you can get a pretty good idea of a coin's value. I still refer to the RedBook and sometimes am pleased when their figure jives Numismedia. |
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Moderator
 United States
187702 Posts |
If you are searching ebay for prices then use the Advanced Search. Under the "Search including" options check the "Completed listings" box. This will provide you the final prices that your search item is going for. |
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Pillar of the Community
United States
1055 Posts |
Coin Values normally lists coins on the highside (there are exceptions) I find numismedia to be closer to the real market value. PCGS site is always high (they are posting the high side of a slabbed PCGS coin)... The Red Book is a good tool for determining mintages and getting an idea of price range. I try to stay atleast 20% below Coin Values/ PCGS website. Maybe 10% below RedBook. I think numismedia is the closest to live prices since it is updated each day. I would also reccommend checking out ebay completed auctions for the real world price. But remember even on ebay every coin ends at a different price (dont forget to add in the shipping and insurance as this is added to the cost of the coin when comparing prices). Good Luck |
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Bedrock of the Community
United States
17884 Posts |
Quote:Quote:Quote: I always check what things are selling for on ebay & go from there. That seems to give a "real world" retail price; one that anyone can buy for. I'm a little skeptical about bidding on ebay He isn't taking about you bidding on ebay he was talking about checking prices. Price guides are always somewhat questionable but by looking at the completed auctions on ebay you can see what people are actually having to PAY for the coins. If you look on ebay and you see that for the past month a PF-65 1986 silver eagle has been consistently selling for around $38, then you would know that someone selling one for $45 ($5 less than the PCGS guide) is still asking too much. I just scanned ebay and in the past month there have been over a half dozen NGC 1986-S PF-69 DCAM's and 4 PCGS PF69 DCAM's sell in the $45 - $52 range. Surprisingly most of the raw proofs in original government packaging have been selling in the same price range. Should give you a pretty good idea what you can pick one up for. Edited by Conder101
01/20/2010 1:21 pm
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Valued Member
United States
420 Posts |
Hello, I did an advanced search on ebay and as Condor101 mentioned most completed auctions for a 1986 ASE Proof shows that people paid at least $45 total for these coins which makes a lot of sense considering the Numismedia Fair Market Value is $43. So if I'm at a coin show or find one on ebay to purchase through Buy it Now or an auction and see one for $40 to $45 I think it would be safe to say that I'm not "over paying" for that coin. Do you agree? Am I close to understanding this? Thanks, Rich |
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Valued Member
United States
278 Posts |
Numismedia is typically high. Some items they may be on, however, depending on demand. Greysheet, dealer-dealer sight seen prices, is 46-48, so I think you have it figured out well...
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Pillar of the Community
United States
1534 Posts |
Numismedia is a fairly accurate price guide, although there are exceptions. Greysheet, like rustyboy said is most accurate. $40 to $45 seems fair, but you always have to check that you like the eye appeal, and in some cases, the toning the coin has.
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Valued Member
United States
420 Posts |
Hello,
Does everything I learned here apply to Proof Sets and Modern Comemmorative coins as well?
Thanks,
Rich
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Replies: 16 / Views: 3,099 |
Posted 01/19/2010 12:10 pm
