Proof vs regular strike American Silver Eagles

shirohniichan2

I noticed a local bullion seller’s site had the following:
Silver eagles (random years) bid $92.46, ask $109.07
Silver eagles proof, bid $80, ask $120

Is it now common for bid on proof bullion coins to be bought for less than regular strikes? Does the buyer just not want to bother with the Mint packaging? More than a 10% difference seems odd to me.

Goldbully

I know ASE UNC bullion version do NOT have a mintmark.

Are there proof ASE"s without a 'W' or an 'S'

Pardon my ignorance.

NJCoin

@Goldbully said:
I know ASE UNC bullion version do NOT have a mintmark.

Are there proof ASE"s without a 'W' or an 'S'

Pardon my ignorance.

No. They all have mintmarks. That has nothing to do with anything here.

The OP's bidder clearly just doesn't want them. While the bid is 10% below the bullion bid, the ask is 10% above the bullion ask. The weirdly wide spread is just an indication that the dealer doesn't want to handle them without receiving a premium for doing so. Not that the proof is worth less than the bullion. It isn't.

jmlanzaf

@NJCoin said:

@Goldbully said:
I know ASE UNC bullion version do NOT have a mintmark.

Are there proof ASE"s without a 'W' or an 'S'

Pardon my ignorance.

No. They all have mintmarks. That has nothing to do with anything here.

The OP's bidder clearly just doesn't want them. While the bid is 10% below the bullion bid, the ask is 10% above the bullion ask. The weirdly wide spread is just an indication that the dealer doesn't want to handle them without receiving a premium for doing so. Not that the proof is worth less than the bullion. It isn't.

Or it's just a mistake in the site

cameonut2011

@Goldbully said:
I know ASE UNC bullion version do NOT have a mintmark.

Are there proof ASE"s without a 'W' or an 'S'

Pardon my ignorance.

There were a few years made in Philadelphia and bear a “P” mint mark. I don’t remember which years.

NJCoin

@jmlanzaf said:

@NJCoin said:

@Goldbully said:
I know ASE UNC bullion version do NOT have a mintmark.

Are there proof ASE"s without a 'W' or an 'S'

Pardon my ignorance.

No. They all have mintmarks. That has nothing to do with anything here.

The OP's bidder clearly just doesn't want them. While the bid is 10% below the bullion bid, the ask is 10% above the bullion ask. The weirdly wide spread is just an indication that the dealer doesn't want to handle them without receiving a premium for doing so. Not that the proof is worth less than the bullion. It isn't.

Or it's just a mistake in the site

Then it would actually be two mistakes. Both going the dealer's way. So, sure, anything is possible, but I like my explanation better, given the stupid wide spread.

jmlanzaf

@NJCoin said:

@jmlanzaf said:

@NJCoin said:

@Goldbully said:
I know ASE UNC bullion version do NOT have a mintmark.

Are there proof ASE"s without a 'W' or an 'S'

Pardon my ignorance.

No. They all have mintmarks. That has nothing to do with anything here.

The OP's bidder clearly just doesn't want them. While the bid is 10% below the bullion bid, the ask is 10% above the bullion ask. The weirdly wide spread is just an indication that the dealer doesn't want to handle them without receiving a premium for doing so. Not that the proof is worth less than the bullion. It isn't.

Or it's just a mistake in the site

Then it would actually be two mistakes. Both going the dealer's way. So, sure, anything is possible, but I like my explanation better, given the stupid wide spread.

Why two? People do sell the proof eagles for a slight premium, but I don't know anyone who buys them at less than MS eagles. They melt the same, after all.

ndeagles

My LCS bought bullion strike ASE for Spot 2 weeks ago and the proofs for spot -$5. She even mentioned it was weird seeing the proofs for less than bullion. They also have had hoards of people who have never bought or sold silver in their life in the store buying silver. I'm thinking it's probably easier to move the bullion at this time to these buyers.

coastaljerseyguy

Recycling fee to dispose of the boxes, lol. I'd rather have the proofs myself, but if a stacker, see why buyers would want the UNC version.

HATTRICK

Lot of people selling their proofs because of silver price . Why not milk them a little more.

cheezhed

@shirohniichan2 said:
I noticed a local bullion seller’s site had the following:
Silver eagles (random years) bid $92.46, ask $109.07
Silver eagles proof, bid $80, ask $120

Is it now common for bid on proof bullion coins to be bought for less than regular strikes? Does the buyer just not want to bother with the Mint packaging? More than a 10% difference seems odd to me.

Technically, there are no proof “bullion” coins.

blitzdude

Dealer told me last week that one of the BIGS wholesalers was offering less for proof AGEs then he was for standard bullion AGEs. I know the OP is posting about ASE's but same scenario.

I also know that the past 25-30 shops I have walked into during this runup don't care one way or another if your ASEs are slabbed MS70's, proofs, privies, special designations, etc. They all get the same offer. A month ago that offer was a buck or two over spot, then spot and most recently all under spot. Some just $1-$2 under, some as far back as $10 under. RGDS!

Cougar1978

I would say a mistake in the site. Who in tarnation would sell a nice ASE for 80 pct BV in this bull market lol?

We are in a bull market - Many players pricing ahead of mkt in anticipation of higher prices (bull mkt strategy). Others holding on to nice slabbed stuff graded dollars, ASE ,mod Commems) keeping nice stuff but Letting junk silver go especially the culls.

Cougar1978

@blitzdude said:
Dealer told me last week that one of the BIGS wholesalers was offering less for proof AGEs then he was for standard bullion AGEs. I know the OP is posting about ASE's but same scenario.

I also know that the past 25-30 shops I have walked into during this runup don't care one way or another if your ASEs are slabbed MS70's, proofs, privies, special designations, etc. They all get the same offer. A month ago that offer was a buck or two over spot, then spot and most recently all under spot. Some just $1-$2 under, some as far back as $10 under. RGDS!

They may not care on the buy side (ASE MS70 slabbed) grin but their sell side another story.