What says more about the coin market? $19 Million 1933 $20 gold or $72.50 Proof silver eagle
jmlanzaf
Posts: 37,334 ✭✭✭✭✭
Regional market maker is now offering $72.50 for any random Proof silver eagle. These were $55 a couple months ago. He's also paying $32 for Fine or better 1921 Morgan $s.
In other news, the Weitzman double eagle sold for $19 million.
Which says more about the coin market?
All comments reflect the opinion of the author, even when irrefutably accurate.
4
Comments
They both seem to be saying the same thing. Coins prices are up.
Non-argumentative answer? It’s the increased exposure of broadly recognized classic US coinage, the 1933 DE auction and the 2021 Morgan “commemoratives”, so it’s both.
The silver Eagle and circulated Morgans as those are more reflective of the general purchasing public and represents more sales (vs a one-off result on a coin only a handful of people will ever own).
When your wife asks you whether you like steak or chicken more, be sure and answer "both".
All comments reflect the opinion of the author, even when irrefutably accurate.
I thought the answer to that was “yes”....
Meh, I pick my battles.
Well, I'm not married, so you probably shouldn't take my relationship advice anyway...
How about this:
When the match maker asks if you prefer men or women, always answer "both".
All comments reflect the opinion of the author, even when irrefutably accurate.
In today’s modern world....nah not going to expand on that.
Just a min, I’ll have to ask the wife.
Or say pork, and smile.
My US Mint Commemorative Medal Set
Those offer prices for proof silver eagles to me is a major statement of the silver coin market really starting to rev up.
Kings and billionaires can pay what ever they want, but when millions of collectors and investors can drive up prices this fast, that is real demand.
My US Mint Commemorative Medal Set
It does double your chances of getting a match.
I have some 2008 burnished ASE’s left over from the 08/07 search. Are those worth anything more than $35? I did well in the hunt and figured I’d just hang onto the non varieties.
The 1921 Morgan Dollar might well come down when the dust settles. Still, we might be looking at a replay of the late 1970s when hyper inflation was devaluing the dollar. The big difference is that interest rates are way down because the money supply increases are close to out of control. The excess money is going to the stock markets instead of money market funds.
Like the earlier period, people are putting they money into “things” like precious metals, coins and houses.
Well, I'm not married, so you probably shouldn't take my relationship advice anyway...
How about this:
When the match maker asks if you prefer men or women, always answer "both".> @jessewvu said:
You mean $7 over spot isn't enough?
All comments reflect the opinion of the author, even when irrefutably accurate.
Although both are sales in the coin market, the gold coin is a unique example that would likely receive such a price in a down market. The silver sales are more reflective of a hedge against the inevitable inflation bubble - or worse. Cheers, RickO
I agree with ricko on this... Even in a down market it wouldn't be inconceivable that 2-3 high-end and well-funded collectors would end up in a bidding war for a unique coin like the '33 Saint. Proof ASE's that are getting bought by people like me for well above 2x spot is indicative of other market pressures... inflation...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
I have to disagree a little. No one is buying proof silver eagles as an inflation hedge when they could buy two unc eagles for the same price.
All comments reflect the opinion of the author, even when irrefutably accurate.
Why would you buy proof eagles at double spot rather than unc eagles at $35?
All comments reflect the opinion of the author, even when irrefutably accurate.
@jmlanzaf .... That is a good point....as I read the thread, I forgot the title was about proof ASE's... I was considering ASE's in general. Cheers, RickO
very true... at $7 over spot it's a better deal than buying proofs. Perhaps indicative of more newbies in the market believing (ie. falling for the sales pitch) that there's more up-side in proof ASE's that justify the additional cost? I recognize a lot of pitfalls in comparing markets (apples to oranges?) but in the firearms market, we're seeing a lot of new gun owners willing to pay fantastical prices for pedestrian stuff. I'm chalking it up to be that they're new to firearms and now have a couple of thousand dollars to spend... in the meantime, we have about every news agency telling us to essentially "be afraid" of [insert something that instills fear here] and to "be prepared'. As good little uninformed consumers, we're simply throwing money at it...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
IDK. It's not just silver and gold. Almost all coin segments are hot. Really not even just all coin segments, multiple collectibles are torrid from comics to sports cards to coins to wine.
All comments reflect the opinion of the author, even when irrefutably accurate.
Funny you say that. I've been thinking about selling some antiques, but I don't know the first thing about antique dolls or toy doll carriages... Maybe people have been cooped up with a computer and Internet access for so long and they're tired of shopping on Amazon...
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
I haven't really looked at dolls. Antique toys in general have been very good. It is ridiculous what some broken tin toys will bring.
I don't know how long it will last, but it's been a crazy year. I should have taken the year off and sold everything I own.
All comments reflect the opinion of the author, even when irrefutably accurate.
QVC is finally making a difference.
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
A friend of mine recently put a new deck on the back of his house (have you priced Pressure Treated Lumber these days?!). He posted a quip to FB that he didn't know whether to sell his house, or just "part it out"....
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
It tells me there is a lot of money out there waiting to be spent!
A lot of people collect less expensive classic coins.
Do either the 1933 DE or ASEs offer comment on this part of the coin market?
My gripe about the current temporary spike in lumber prices is waiting on my greedy county's tax assessment this year. I live in the California County of Ga with the highest millage rate of the 159 counties in Ga. I have to do battle with them every year they have a chance to hike my taxes. And yes, they have already hinted at the crazy prices new houses are costing right now.
Perhaps it's the U.S. Mint itself that is driving the higher prices for the proof ASEs with demand being about the same as it has been for years. As far as I know, for the most part, the year of mintage on the proof ASEs haven't seemed to matter much on the price so ASEs are fairly fungible on that variable.
If silver doesn't skyrocket, I guess owners of proof ASEs can always hope that the U.S. Mint raises prices for new proofs $100 or higher to provide them with more capital gains.
Yeah, the prices for generic proof silver eagles is kinda crazy! And generic GSA Morgan CC's are bringing big premiums, too.
My YouTube Channel
The 1933 says nothing about the market except that there are people with more money than brains that buy such hyper-rarities to add their name to the pedigree. The Proof ASE numbers are a bubble IMO because the inflation-wary stackers are making it hard to easily get BU examples so some folks are buying up Proofs as a substitute. Spendy but still can be put into retirement accounts IIRC.
RIP Mom- 1932-2012
The value of the dollar is down!??
The former. It says to me that ultra rarities in all genres are fire
The latter. It's says to me that meme types, crowd types, momentum types are all the rage. Speculation runs high. Money is cheap.
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I agree, it is people chasing token examples of what the whales are chasing
11.5$ Southern Dollars, The little “Big Easy” set
It reveals more as to the mindset of those that are buying. And there seems to be a willingness to buy without adequately evaluating what makes sense... no pun intended
Experience the World through Numismatics...it's more than you can imagine.
Two choices for one representation of a segmented market?
Poorly formed question.
Yeah. My sister was mad at my brother-in-law. She wanted a couple raised beds but my BIL didn't look at the price of the Lumber. Lol. She got what she wanted but was mad at the price.
All comments reflect the opinion of the author, even when irrefutably accurate.
Disagree. I would argue that the $20 doesn't say anything about any segment of the market. That is my point. It's a trophy coin with a population of one.
All comments reflect the opinion of the author, even when irrefutably accurate.
Absolutely correct.
The price is essentially determined by the underbidder. If two bidders (or more) have "need" to own the best and have the funds to make it happen why couldn't the coin have sold for $30 million? Coin collectors need not apply.
There are just people who want bragging rights and the only question is how much do you have to pay for the right?
This is the kind of coin trophy that you might not get another chance at in your lifetime.
All comments reflect the opinion of the author, even when irrefutably accurate.
I think it’s unfair to assume that anyone who bids on or buys such a coin is doing so just for bragging rights. Don’t forget, until fairly recently, the identity of this coin’s owner had been kept secret for many years.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Bragging publicly and privately are two different things. It would naive to say paying double the record for the hobby and almost 3x it’s previous price was a decision devoid of ego. It is clearly multifaceted but I would be shocked if the owner didn’t whip it out form time to time looking for big daddy feedback
11.5$ Southern Dollars, The little “Big Easy” set
I don't know that you have to assume it's JUST a trophy to recognize the unique nature of it. And it will bring in trophy hunters as well as collectors. All bidders help push the price.
Does Weitzman own any other coins?
All comments reflect the opinion of the author, even when irrefutably accurate.
Rarities and unique items whether they are exotic cars, sculptures, paintings or sport cars have been on a 12+ month tear. I'm just glad it's finally spilling over into coins and the possibility it went to a non coin collector.
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
No. Those were his only two stamps as well. All proceeds will be used to set up a family charitable fund.
One of my close friends will be speaking to Weitzman in a few days. They are besties. I'll report back anything if possible
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
The 1933 says nothing about the market except that there are people with more money than brains that buy such hyper-rarities to add their name to the pedigree.
This is pretty much why those with money and brains don’t spend as much time here anymore...
He did have a modest stamp collection in his youth. I had just never heard mention of his ever collecting coins.
He is an interesting man.
All comments reflect the opinion of the author, even when irrefutably accurate.
Indeed.
FYI when Stuart Weitzman bought this coin in 2002 he did it in secret. He wanted to own something he admired from his youth as well as the stamps. He made a lot of bones in the same business I'm in and eventually bought those items. I didn't event know he owner these nor did his best friend so that statement you quoted is a load of crap
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Of course you’re right, just as a Ferrari is a tactical feedback dream for a true driver. That said many trophy cars are never driven and the number of people walking around at car meets with their Ferrari jacket and 4th owner 430 is quite high. I don’t know if the buyer is a driver or not but they all buy the jacket
11.5$ Southern Dollars, The little “Big Easy” set