| Author |
 Topic  |
|
|
mjcurley3
Penny Sorter Member
USA
32 Posts |
 Posted - 07/01/2010 : 12:04:51
|
I was wondering what some of you thought about this idea I had. I am new to all this bullion investing so please bare with me...I have been buying silver eagles for only a few weeks, and read about the 1996 short run, so I began only buying the 1996. I thought it might work like they say about the "double dip" with buying old coins, due to the "fixed and limited" supply....So I thought the more I bought, the more "fixed and limited" it will become, and as the spot goes up so will the rarity....and I will get a double out of it....Thats what I have been doing, going to the various coin shops and buying all the 96' eagles...
So what do you think? Am I wasting my money paying extra for the 96'?
|
|
|
Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/01/2010 : 12:12:53
|
imho, yes.
you are investing part in silver and part in numismatic premium (NP).
the argument for silver is much stronger for NP.
the argument for NP is particularly weak for 96 ASE's imho. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
|
 |
|
|
beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/01/2010 : 12:46:43
|
In the environment which could be most beneficial to precious metal's rise (hyperinflation) it would be detrimental to numismatic premiums. The core value of the bullion will appreciate faster than the concurrent rise in the NP. It wouldn't hurt to keep a few, but I'd swap the others out for cheaper premium silver, maybe junk.  |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
|
|
|
jtlee321
Penny Pincher Member
USA
136 Posts |
Posted - 07/01/2010 : 13:42:21
|
Yeah, I don't think that is the wisest move. Maybe hold on to two or three. I don't know how much you were paying, but it was probably $10.00 to $20.00 more for those 96' eagles. You could have bought a common 08' or 09' and picked up at least a 64' Kennedy, 64' Washington and 64' Roosevelt for the same amount of money you paid on the 96' eagle.
When it comes time to sell those 96' eagles that NP you paid is going to be cut in half. Spot will have to jump considerably for you to break even on that purchase. At least that is the most likely scenario. The reason to hold on to two or three is just in case the economic fairy sprinkles her magic fiat dust and makes everything ok again, the NP may rise. But the other scenario is far more likely. That being devaluation followed abruptly by inflation causing falling Numismatic Premiums and rising Spot prices. That is where the benefit of having the additional Kennedy, Washington and Roosevelt help immensely. Just my two cents worth. |
|
|
|
highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 07/01/2010 : 16:58:13
|
| I would not buy any 1996 eagles. There really isnt a shortage of them! What happened was in 1996 there was a dealer who bought a LOT of the mintage. Instead of reselling them he just held on to them and watched the price skyrocket. He/she has slowly been selling them off and about 2-3 years ago sold off the final lot in 1 load. If you watch the prices at all when that final load sold the prices went from like $75 per eagle to $40-50ish and have been dropping ever since! |
Copper Penny Investing
www.portlandmint.com |
|
|
|
TXBullion
Penny Collector Member
374 Posts |
Posted - 07/01/2010 : 17:27:35
|
You must be logged in to see this link.
Bullion Proof Uncirculated
1986 5,393,005 1,446,778
1987 11,442,335 904,732
1988 5,004,646 557,370
1989 5,203,327 617,694
1990 5,840,110 695,510
1991 7,191,066 511,925
1992 5,540,068 498,654
1993 6,763,762 405,913
1994 4,227,319 372,168
1995 4,672,051 438,511
1995-W 30,125
1996 3,603,386 500,000
1997 4,295,004 435,368
1998 4,847,549 450,000
1999 7,408,640 549,796
2000 9,239,132 600,000
2001 9,001,711 746,398
2002 10,539,026 647,342
2003 8,495,008 747,831
2004 8,882,754 801,602
2005 8,891,025 816,663
2006 10,676,522 1,092,477*
2007 9,028,036 821,759
2008 20,583,000 700,979
2009 30,459,000 0*
* Mintage N
Chart is not showing up as it is input but hopefully you see the mintages, 1st side (left is bullion) then next is proof (right column
not low mintage but lower and i think ive heard what highroller has said before too. |
Edited by - TXBullion on 07/01/2010 17:29:32 |
|
|
|
beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/01/2010 : 18:10:26
|
TXBullion... this is pretty funny. In the amount of time it took me to look up the same info, you posted it before I could  Anyway, lower mintage, but certainly not enough to justify the difference in premium. I see them going for $50 on ebay, though I've picked them up for under $30 when they're included in lots of five from the seller whose listings I bid on. |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
|
|
|
beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/01/2010 : 18:14:08
|
1996 American Silver Eagle
The 1996 Silver Eagle saw the lowest bullion coin mintage for the series with only 3,603,386 coins. As a result, the bullion coin carries a premium, usually priced around $75. Following the low, bullion coin mintages steadily climbed for the next several years.
The 1996 Proof Silver Eagle had a higher mintage than previous years with an even 500,000. This amount represented the maximum authorized mintage for the coin set by the United States Mint. This marked the first sell out since the Mint began establishing a maximum mintage for the coins in 1990. The coins were initially offered to collectors for $23.00 each.
For certified coin collectors, the proof coin is attainable in perfect grades from both NGC and PCGS. The bullion version is difficult to locate in NGC MS 70 and does not exist in PCGS MS70.
The overall average price of silver during 1996, held steady at $5.20 per ounce.
|
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
|
|
|
TXBullion
Penny Collector Member
374 Posts |
Posted - 07/01/2010 : 21:24:10
|
| I was just wondering that the other day about how much SAEs are in realtion to spot . 23$ when silver is 5.20 per ounce. Was that normal? Im still learning a lot of things but in 1999 for example when silver was 5 or 10 per ounce, How much was an ASE? |
|
|
|
fasteddy
Penny Collector Member
USA
298 Posts |
Posted - 07/02/2010 : 09:15:37
|
Our tooth fairy would trade my kids lost teeth for a current year ASE and some change...At that time period I remember paying 10-12 dollars for ASE's at the local coin shop.
mjcurley3 if the ASE's you are buying are graded perfect coins as in MS70 or Proof 70 then I believe you are on the right track otherwise the cheapest ASE's are the bargains to be after. I would chose MS70 over a Proof because of the rarity.
The tooth fairy hasn't visited in a while but is ready for 2010. Hmmmm thinking about it...I wonder if my kids still have those ASE's...I still have my IKE's.... |
|
|
|
mjcurley3
Penny Sorter Member
USA
32 Posts |
Posted - 07/02/2010 : 20:34:35
|
| Thanks All! I have been buying anything not graded, they have been $45 to $47.5, here in jax...wasn't really interested in paying over $50 ea, wanted to get some feed back before I bought too many, I think I only have about 12 of the 96'. Glad I asked...Thanks again |
|
|
|
battlecat
Penny Pincher Member
152 Posts |
Posted - 07/02/2010 : 20:58:27
|
| A local collector near me is rumored to have a monster box of every year including 96 that he wont get off of.... Its for his grandkids he says |
|
|
|
aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 07/02/2010 : 21:07:17
|
quote:
Originally posted by TXBullion
I was just wondering that the other day about how much SAEs are in realtion to spot . 23$ when silver is 5.20 per ounce. Was that normal? Im still learning a lot of things but in 1999 for example when silver was 5 or 10 per ounce, How much was an ASE?
well if it helps, in early 03 i was buying eagles for 6.35-6.85 and junk silver for 3.3 times face...
and now after having dug out that paperwork to look im wishing i'd of bought more 
but on the flip side, as a college kid then, im lucky i chose to spend SOME money on silver !
|
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
|
|
|
|
Beau
Penny Pincher Member
216 Posts |
Posted - 07/02/2010 : 21:17:08
|
I bought ASE`S for $6.00 in 1996 at a coin show.
wish I had bought more. |
|
|
|
TXBullion
Penny Collector Member
374 Posts |
Posted - 07/02/2010 : 21:38:01
|
| Thanks for the references aloneibreak and beau. Always makes me question then is junk at 13X face a good deal or not. I guess in 5 years if its 26 then maybe huh |
|
|
|
aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 07/02/2010 : 21:39:12
|
quote:
Originally posted by TXBullion
Thanks for the references aloneibreak and beau. Always makes me question then is junk at 13X face a good deal or not. I guess in 5 years if its 26 then maybe huh
im still buying !! |
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
|
|
|
|
TXBullion
Penny Collector Member
374 Posts |
Posted - 07/02/2010 : 22:06:27
|
Me too  |
|
|
| |
Topic |
|
|
|
1996 Silver Eagles
Forum Locked
