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 Replies: 14 / Views: 2,739 |
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Valued Member
United States
487 Posts |
I have begun to collect the ASE coin, I have been acquiring them through ebay. At a price that is some what high compared to the closing price on silver say on Friday. And I went to the US mint website to see if its cheaper to buy from them and I see that production of the coin has been halted due to a shortage of bullion blanks and that what blanks they have are being funneled to the bullion coin program. Question, what is the difference of a bullion ASE and a uncirculated ASE. Is it the finish on the coin? And if I can ask the opinion of the community, due you see the silver market heading higher to ranges where one who buys at today's prices would see a profit in the future. I don't wont to be a buy high sell low person, or has the train already left the building in that respect? Thanks for any input you may give me! |
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Pillar of the Community
United States
2661 Posts |
Someone will correct me if I am wrong but I think they are one in the same. I think the Proofs are for collectors and bullion /uncirculated is for the hoarders. Although I pick up the uncirculated from time to time for the wife, she likes them.
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Valued Member
 United States
487 Posts |
Thanks for the correction. Now I know! If I may ask a question of you, were do you pick up your ASE coins for your wife? |
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Pillar of the Community
United States
7123 Posts |
You should be able to buy ASE's from just about any brick and mortar shop,the UNC's are only sold to big Silver dealers who are registered and then only in the big green monster boxes who then in turn sell to the shops who sell to the public. each hand gets a bite and makes a profit except the end consumer (that would be you and me) |
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Pillar of the Community
United States
2661 Posts |
I get mine from shows, flea markets once and a while, and a good dealer I know in another town.
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Pillar of the Community
United States
1406 Posts |
http://www.apmex.com/Category/503/S...Jx5Qodmm06xAThe link should help! Personally, I see silver doing well into the future. I plan to use it as a savings account to hold about 5% of my income. This same 5% is about what I spend on coins anyway and sometimes I use silver to trade for coins. I look at it this way, $100.00 in a savings account actually looses money compared to inflation. $100.00 in silver has a great chance of at least keeping up with inflation, and probably will do better.
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Valued Member
United States
407 Posts |
For the sake of clarity: "Congressionally authorized American Eagle Bullion Coins provide investors with a convenient and cost-effective way to add a small amount of physical platinum, gold, or silver to their investment portfolios. Since their launch in 1986, gold, platinum and silver American Eagles have become leading bullion coin investment products. The United States Mint produces proof versions of American Eagle Bullion coins for collectors American Eagle Proof Coins undergo a specialized minting process, which begins by manually feeding burnished coin blanks into presses fitted with special dies. The coin is struck multiple times so the softly frosted, yet detailed images seem to float above a mirror-like field. Each American Eagle Gold and Silver Proof Coin is sealed in a protective plastic capsule and mounted in a handsome satin-lined velvet presentation case with its own official Certificate of Authenticity. American Eagle Platinum Proof Coins are packaged in a custom-designed portfolio presentation case with an official Certificate of Authenticity. In 2006, the United States Mint added another member to the American Eagle family of precious metal coins. Collectors can purchase American Eagle Uncirculated Coins in silver and gold directly from the United States Mint. Like their proof counterparts, the American Eagle Silver and Gold Uncirculated Coins are available in a one-ounce size. In a process similar to that used to create the magnificent American Eagle Proof Coins, American Eagle Uncirculated Coins are hand-loaded into the coining press, struck on specially burnished blanks and carry the "W" mint mark of the United States Mint at West Point." Above information taken from the United States Mint site. To add, Bullion ASE's are distibuted from the Mint through a Distributor Network. Individual dealers purchase Bullion ASE's from these distributors, which you can then purchase from dealers. As noted above, the Uncirculated (which are not the same as the Bullion coins) and Proof versions are available directly from The Mint. Steve |
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Valued Member
United States
487 Posts |
I'm looking at it the same as you captiankurt. My 401K and IRA are in decline and the savings account interest is pathetic. And investing in gold is not a possibility due to my limited funds. I'm forty-seven and not twenty so looking to build up a nest egg. Thanks for the link, I'll certainly check it out.
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Valued Member
United States
487 Posts |
Thanks, Whytlash for your input it helps to have as much information as possible!
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Valued Member
United States
290 Posts |
Check out a few dealers... Some will sell based on numismatic value, others based on the spot value. Inevitably, numismatic prices are higher.
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Valued Member
United States
294 Posts |
I started collecting the silver eagles this year, more for the looks of the coin but the silver value is a bonus. I have a buddy who's goal is to buy an ounce of silver a week, just as a hedge. The nice thing about the eagles is they are an affordable way to pick up some precious metal. Gold is out of my league. I can pick the ASEs up (with rare eception) for $22 each at the local coin shop. The local flea market dealers are the same price. I pick up a couple each time I visit the shop. Once I have one set of the bullion issues, I'll work on another set. My thinking is I'm not going to rich off these, but my grandaughter will be able to make some money off them in the future. Not so much because I think the price of silver will skyrocket, but she will have 0 dollars in the investment. It'll all be pure profit for her.
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Pillar of the Community
United States
2764 Posts |
Gold and silver are both good against inflation but remember that silver market is smaller and fluctuate a lot more than gold. I have the same thinking as you guys and had been acquiring them in rolls but now I need to unload them.... I am thinking of selling my 2002, 2003, 2010 ASE and 2010 Philharmonic rolls..... to preserve cash since I am under financial crunch until probably at the end of the year. |
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Bedrock of the Community
United States
17884 Posts |
Once again confusion because of the way the mint uses the term "uncirculated". When the mint says "bullion coin" they mean the pieces they sell to their distributor network at $1.50/oz over spot. These coins are still being made and sell on the open market for a few dollars over spot (usually) When they talk about an "Uncirculated" ASE they are talking about the uncirculated W mintmarked pieces that they sell directly to collectors at a significant premium. These coins have not been made since 2008 and probably won't be made this year. When they talk about proof ASE's they mean the W mintmarked proofs they sell directly to collectors at a significant premium. These have not been made since 2008 either and also probably won't be made this year. In general if the Mint describes a coin as "Uncirculated" it is a coin produced for inclusion in a set and sold directly to collectors, often nowadays with a special finish. |
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Valued Member
United States
103 Posts |
The mint is at it again with its confusing terminology of circulation and uncirculated strikes which are different from the proofs, with the marketing of the State Park quarters. This all started with the special uncirculated finish of the 2005 mint set, which them spread to the ASE's the following year, only then they called it "burnished" and had a mint mark, which the bullion coins don't have. Basically the difference is that the bullion coins are bought from a third party, whereas the mint sells the burnished and proof coins directly to the public at a premium which they did in 2006, 07, & 08. None was made of either in 2009 and probably this year as well. Because 2006 was the 20th anniversary of the ASE, the mint had to come up with a special three coin set, a burnished coin, a normal proof coin, and a reverse proof. While it is not as prohibitively expensive as the 95-W proof, the reverse proof is now 4 or 5 times the price of the normal proof and worth buying when collectors realize how scarce it is and necessary to complete the proof ASE set. It is striking and quite unique. |
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Valued Member
United States
467 Posts |
If you plan on buys ASE's for bullion value, always ask for the "scuffy eagles" 1st. These are by far the best value. Well recognized and close to spot normally. Everytime I am at the B&M I frequent I pick up everyone I can. Most times they may have just a few scratches only. Bullion doesn't have to be perfect IMO. |
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Replies: 14 / Views: 2,739 |
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Posted 07/04/2010 09:40 am
