Silver Eagle with "W" mintmark... Are they ALL "burnished"?
KevyKevTPA
Posts: 24 ✭
I've read some conflicting information about this, so I'm hoping to get some clarification. A few weeks ago, I bought what I thought was a run of the mill silver eagle off of ebay for $41, after tax, tag, title, shipping, etc., which was at the time the lowest (or very close to) "buy it now" price available.
Much to my surprise (and a pleasant one at that), it turns out it it's a 2022-W version, WITH the mint mark, so my question is twofold. First, does the presence of the "W" mintmark mean it's a "burnished" version? And if so, why are some selling (in this case anyway) at less than half the cost from the mint, while I've seen others common date ones for 2x-3x the price.
Seems to me if I can regularly buy them for <$50, and then sell them for $120 or more that's a really good strategy. But it also seems almost too good to be true, unless it's just a case of buyers who don't do their homework.
Thanks,
Kev
Comments
Not all Silver Eagles with W mintmarks are burnished, some are proof issues.
The Uncirculated Finish with W mintmarks are what they call burnished.
If you can sell coins for more than you pay for them it is a good strategy.
Just to make a point: The Type 2 ASE have designer's initials placed different than Type 1 had. Designers/Engravers initials appear on the obverse, below IGWT, and look like a "W". The mintmark is on the reverse under the eagle's wing.
(l8-)>>
and I couldn't find a PCGS CoinFacts photo of a 2022-W ... probably too early.
below is a 2021-W - as mentioned by edgar, the initials are on the front and the W mintmark is on the reverse under the wing on the right
Does it really seem likely that you can buy ASEs on ebay for $41 that are worth $100+? EBay?
We would like one please. $41 great price 😉🙀🦫
🎶 shout shout, let it all out 🎶
Technically it’s a $67 coin. Still available from the mint🤨🙀🦫
🎶 shout shout, let it all out 🎶
This very well could be my mistake, because on my copy, what I thought was the mint mark is on the obverse. But I will say the finish looks distinctively different (and more pleasant to the eye) from other ASEs that I have, but that could just be luck, and/or an early strike. At any rate, the listing I bought (https://www.ebay.com/itm/203691527262?hash=item2f6cf60c5e:g:tloAAOSwTgNie0ta&LH_BIN=1) is now at $36.65, probably reflecting the lower silver spot price (which is $21.265 as I type this) since a week or two ago when I originally purchased it.
Hence my OP. I didn't buy the coin for resale, at least not in the short term, rather I bought it as a long-term play, a pure collectable, and to have something of value on hand in the unlikely event the SHTF in such a major way and our regular currency becomes no more valuable than toilet paper. Less, probably, as it would be distinctly less comfortable.
Even if I DID decide to flip it short term, I didn't want to advertise it as "burnished" if it's not, even if it was an innocent mistake. Not only would that likely get me in trouble with EBay, it goes against my principals.
Deleted.
Yep... Bullion coin, not a special finish. Probably will not sell for $120... Cheers, RickO