My Latest Learning Experience

Hello,

Well I finally have learned how I'm going to go about collecting Silver American Eagle Bullion Coins. I went back to my local dealer, who was cranky last time I was in his shop,

[url="https://goccf.com/t/60159&SearchTerms=craanky,dealer">(SEE THIS POST)[/url]

and he traded me my Proof 1986 ASE for a 1986 Bullion ASE, a 2000 Clad Proof Set, and a 2003 Clad Proof Set. He asked me what I paid for the Proof ASE and I told him $52. He said that was about right. He also taught me a few things after giving me a hard time and telling me that the ASE Bullion Coin won't look all that great magnified 100 times. He was referring to me scanning my coins, which tends to show every imperfection that a 10x loupe would not show.

First, he sells Bullion coins not based on spot prices but based on the same way he sells any other coin and that is the Grey Sheet. He told me that the per ounce spot price of silver, gold, and platinum are all based on a 5000 ounce contract. He used local stock as an example saying you can buy a bunch of stock or on share of stock but that I should purchase ASE coins just like any other coin.

Now, I'm not saying his word is law or even that he is right, especially considering when I asked him what price guide he recommends he says to me, "Read your Red Book, that is the best guide out there." I don't fully agree. As I mentioned before this dealer has a lot of hats and his shop has been in the same location for over 40 years and based on all the research I have done over the last week or so the price I paid for the 1986 ASE yesterday was fair. Did I "get a deal?" No. Did I "overpay?" No. I also learned that my local dealer cannot beat the Web for coin supply selection or prices, his shop is just too small. I did learn a lot though and I'm not nearly as frustrated or confused as I was before.

My pricing strategy continues to work well for me in keeping me from "overpaying" for coins even though it is a lot of data because I do a lot of number crunching and comparing to come up with a good price range based on 3 sources, Numismedia, Coin Values, and ebay closed auctions, but I'm a data junkie. I finally got out of my comfort zone of JUST PROOFS and learned that uncirculated coins are also beautiful even without the mirror finish. I'm going to put this collection in an Air-Tite Album which I'm looking forward to. I collect my own way, is it "correct?" I do not know, some people may say it works and other people may say I'm a complete moron. Either way I'm having fun and I appreciate all of the encouragement I get here on CCF.

BTW here is what I paid
2000 Clad Proof Set (10 Coin) $15
2003 Clad Proof Set (10 Coin) $15
1986 ASE Bullion Coin $22
For a grand total of $52

What are your thoughts on my experience?

Thanks,
Rich