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Thread: Numastic Eagles

  1. #1
    Join Date
    Jan 2010
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    8

    Default Numastic Eagles

    How much is too much for graded coins? On _bay I bought a PGCS first strike ms69 for $30. I was ignorant last week and bought an ms70 coin for $27 without looking at who graded it (turned out it was CSI and have heard that they are not really considerred a valid grading service. BTW the Eagle was beautiful. Is it worth having the CSI regraded? would the cost be too much to justify if it came back a lower grade? Overall my question is are graded Eagles worth it in the long run, or am I better off just sticking to common ones ,and junk grade silver to boost my inventory at a lower cost?

  2. #2

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    Depends on the year, rarity, special edition, etc. I hear '96 eagles are rare, can't remember why though. Remember, these coins were minted for bullion purposes. The only reason why they get graded is to dupe unknowing people into paying 100%+ premium on them. I got a '97 koala that's pretty much mint condish for lower than a generic maple that was a bit scratched, so I just goes to show that yes, maybe mint is better than circulated but getting it graded, not the way to buy silver unless it's numismatic. These coin graders use loupes and grade highest based on details you can't see without a loupe, so it's all just circus work when it comes to bullion because in the end, silver is silver. Oh and welcome to the forum too
    -- If you forget that you've forgotten something you needed to remember, you never forgot it--

  3. #3

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    A pretty common question that will yield you a plethora of answers. Glad to sneek in as the first. (correction...darn you silversurfer28! You hit enter before I did! So, second then...)

    Personally, I don't and won't by graded bullion. To me, the added expense simply isn't worth it. You could take that premium and buy either more ounces, or if you do just enjoy collecting, you could start a nice set of proofs, privies, or some other collectible coin that has an inherant premium.

    Part of the value of a coin is found in it's overall rarity and it's rarity in a specific grade. Since ASEs were never really meant for circulation, those in high grade really aren't all that rare or hard to come by. All the expense is really netting you is a slab with some company's name on it. To me, that just doesn't sound all that appealing.

    Indeed, buy what you like and enjoy what you have. From an investment standpoint, I don't really think graded bullion ranks high on the scale.

    Now, lets see what other's say!
    To err is human, to ARGH! is pirate.

  4. #4

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    I wouldn't get into graded ASE's. They only started making them in 86 so of course most are Brilliant Uncirculated 68s and better. It would not be worth it to spend $15-20(at least the 2 most notable PCGS and NGC Anacs a distant 3rd) to send these coins in yourself either. When you go to sell ASE's you would lose almost all your premium, then again alot of fish on fleecebay. The coins to send in/or buy is the old stuff where the price between the two grades could make it worthwhile. Ex-I got a 1oz 1900 gold double eagle, this coin is BU MS60 minimum according to Redbook it list at $1250 but it could be a MS 63 at $1650 so with the $400 dollar spread it would be worth it to have it graded. Stick to the old stuff and PCGS or NGC only. Hope this helped. Cheers

  5. #5
    Join Date
    Jan 2009
    Posts
    884

    Default

    got to say that IMO you guys are right on........... while some will pay more for graded bullion ....that is no reason for me to value it......
    if you want to buy graded common 'dollar'coins I would stick to morgan and peace dollars...which while plentiful and still cheap in BU condition are real coins not bullion.....they really aren't making any more of those
    Last edited by imallright; 03-11-2010 at 11:03 AM.

  6. #6
    Join Date
    Jan 2010
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    8

    Default

    Thanks everyone for your welcoming comments, and I guess I will go to the "Quantity, not quality" route.

  7. #7

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    I consider a graded ASE to be less liquid than a raw one. I could be wrong.

  8. #8

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    Quote Originally Posted by Crex40 View Post
    Thanks everyone for your welcoming comments, and I guess I will go to the "Quantity, not quality" route.
    No reason to just choose one way over the other. You can have quantity for some purposes and high-premium for other purposes. For example, some people here swear by Perth Mint painted (decaled) coins like Barbie anniversary coins.

    The only value I personally place on graded moderns is that I have more reason to believe that its real it its graded by a reputable service like PCGS or NGC. I really don't care myself whether a modern coin is an MS-70, 69, or even 63 for the most part. Bullion coins are bullion coins. Now, grading of older coins may be viewed differently. I would never touch a non-graded rarer Morgan for example. Some of the fake Morgans are just getting too good, and I've been dealing with Morgans for many decades now.

    One thing to remember - if you have to sell your silver on short notice, most types of silver will only get you spot. A few (ASE's, etc) might bring you a little over spot, but to most stores and online brokers, virtually all of the "premium" of a coin is really what they view as their profit. So they will buy from you for little or no premium and sell to you at a full premium. If you think "I'll just sell them on efake", granted you'll get better prices in most cases there, but Efake and paypal steal a lot of the seller's "premium". Efake also takes time to sell your PM's. And you get to deal with a lot of the unscrupulous buyers that frequent that place, trying to scam sellers. Just something to factor in when you decide what you want and how much you're willing to pay for it.

  9. #9

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    Right on Stretch, many folks are in fantasy land when it comes to selling there PM's on Fleecebay."I can get $20 an ounce for my silver" They are not taking into account all the different fee and whatnot. I believe you get hit the hardest on items less than $25(like 1 oz silver) 8.75% on the first $25 bucks, a few percent paypal, insertion, auction, etc. Do you then have report that to pay taxes on that money? I believe powersellers get a nice discount, not sure how much though. It just seems like a hard biz for the average joe. Please correct me if I'm wrong. I was talking to a buddy of mine about becoming a fleecebay seller. He lectured me for 20 minutes about what not to do and there's many loopholes with paypal. He told me many hard lessons, the biggest loss being 16k. Most of these stories were international incidents though. Not too mention a 5 page article I read was titled Paynarc about all kinds of shenanigans they pull.

  10. #10

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    Yeah, for the same money there are too many other things to buy.

    I like to have a wide variety.

    My generic is what I consider tradable, these guys are right when they say a dealer will only give you spot for your Kooks, they are in business afterall.

    But I still collect it, this is the stuff you will hold for a very long term, your keepers really.

    The spot price more or less controls what I buy, when spot is down it will be nothing but bullion, when spot is high I add quality items.

    And welcome to the board!

    Thx
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