1995-W Silver Eagles - why so expensive?

dan1ecu · June 19, 2003 10:11AM

Heritage has listed for sale a 1995-W S1$ Eagle, PCGS PR68 DCAM for over $2000. There are hundreds of them around, and more than 500 are certified at a higher grade. So, why are they commanding such prices?

Dan

kranky · June 19, 2003 10:15AM

There were only 30,000 minted, and you could only get one when you ordered the entire 1995 set of American gold eagles.

cosmicdebris · June 19, 2003 10:22AM

Supply and dumbmand

dan1ecu · June 19, 2003 10:26AM

Well, I guess all I can say is that if I owned one, I'd be selling at this level. I'd have to be really into silver eagles to pay over $2000 for one!

Dan

Spooly · June 19, 2003 10:37AM

That is a coin waiting to crash and burn. POP 30,000 .... are you kidding me? Their are plenty of lower pop coins that trade at a fraction of that price.

FatMan · June 19, 2003 10:40AM

cladking · June 19, 2003 10:53AM

Apparently the demand is higher than the available supply. There will likely
be more becoming available as the owners discover that the coin is so val-
uable, but there are insufficient numbers to supply current demand. This
availability is unlikely to increase substantially because most owners are
well aware of the price and are either collecting them personally or holding
for higher prices. Demand for most modern coins is continuing to increase so
there can be little certainty that the price has to crash.

There are also legions of people who desire the coin but find the price too steep.
Even if the price were to back off this demand would prevent a freefall.

pmh1nic · June 19, 2003 11:19AM

"Apparently the demand is higher than the available supply."

Not really. The proof of that is how many are offered at that price and how many are actually sold. Based on what I've seen on Ebay there isn't a lot of demand for the coins at this price. They don't get swapped up as soon as they are offered and given the potential for an ever increasing supply I won't buy one at these prices with anything other then funds I don't care about recouping down the road.

michael · June 19, 2003 12:35PM

cosmicdebris
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Supply and dumbmand

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cladking · June 19, 2003 12:43PM

<< <i>

Not really. The proof of that is how many are offered at that price and how many are actually sold. Based on what I've seen on Ebay there isn't a lot of demand for the coins at this price. They don't get swapped up as soon as they are offered and given the potential for an ever increasing supply I won't buy one at these prices with anything other then funds I don't care about recouping down the road. >>

If supply and demand are not setting these prices, what is?

MrEureka · June 19, 2003 12:48PM

If supply and demand are not setting these prices, what is?

Negotiations. It's a subtle difference, but a huge one.

keets · June 19, 2003 1:01PM

coin prices in general are always driven by that simple economic principal. many choose to ignore it and we're left with such lovable terms as "undervalued" and "overvalued" which are just explanations of demand. the 1995-W is needed if you collect proof silver eagles and want a complete set. obviously there are enough collectors doing that to cause the price to rise to match the steady and rising demand.

this ain't rocket science. when nobody is willing to pay that price for a coin that they want, guess what will happen?? that crazy supply and demand function will move the cost in the other direction.

al h.

DenverCoin · June 19, 2003 1:28PM

A week ago, golf phenomenon Tiger Woods was asked by a reporter if Tiger thought Tiger was in a slump. Tiger answered, "I've WON three of the seven tournaments I've entered this year, and you ask me that?" My point is patience is a virtue. A US Coin with a mintage of 30,125 will always be valuable, and I doubt they will ever crash and burn. Some older coins with higher mintage’s are selling for 12,000 X face value or more, so this coin should be looked at as a long term investment graded or not. Sure, quite a few are graded, but the demand for a high quality example has been very high for this coin, and probably always will.

One hundred years from now, tell me if I'm wrong or not.

John

Blade · June 19, 2003 1:29PM

Do we really think there are 30,000 coin collectors dedicated to completing a proof silver Eagle set? No way.

My guess is that many are like some of my fellow collectors I know that bought this set when issued. They are just holding onto this coin because they only have $30 in it (as a % of the 1995 set) and don't have inertia to sell.

If even 10,000 of these hit the market at the same time, what would happen?

cladking · June 19, 2003 1:40PM

If memory serves the premium on the set to gold/silver value was nearly $300.

And if I remember correctly sales for this years gold proof sets were not up very much,
so this would seem to indicate that large numbers were not bought for the silver.

baccaruda · June 19, 2003 1:57PM

all I have to say is this is indicative of the demand for Silver Eagles. I love and collect the eagles and would never pay $2000 for one to complete my set. The fact that the 95-w is $2000 tells you just how many people ARE willing.

to my knowledge the SAE is the most collected coin - behind only the state quarter recently.

baccaruda · June 19, 2003 2:01PM

at the same time, you could get a Barber half proof with a mintage of 500 for maybe 1/3 to 1/2 that price. What does that tell you about who's interested in what?

keets · June 19, 2003 2:09PM

the catch 22 is that if you collect silver eagles in proof you need the coin and the only place you can get it is from that gold set, but if you remove the silver eagle to sell it the set as a whole loses value.

i'm looking at an April 11th grey sheet and it lists the 1995-W silver eagle at $1850 bid and $1950 ask. the gold year set lists at $2725 bid and $2825 ask, so the 4 pcs. of gold should be $875. ironically, a 1995 gold year 4 pc. set is listed at $945 bid and $985 ask which doesn't make sense to me. evidently what you pay a premium for when looking at those numbers is the 4 coin set complete and not the 4 coin set in the 5 coin box with an empty hole!!!

i'm kinda glad i don't collect gold eagles or silver proofs, though i do wish i had that 195-W Anniversary Set.

al h.

1995-W Silver Eagles - why so expensive?

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