New Proofs Big mintage Big prices

GOLDSAINT

Hello all, I am new to your group ! I guess this is the hardest chat site to get into these days, it took 10 days to get approval.I am a long time collector and was a dealer for a short time in the last inflatioin period, 1976-1980.
In 1980 I packed everthing in my shop that had not sold, put it in boxes and had not looked at it for 23 years. A few weeks ago I got the bug back and started to add 20 years worth of up grades to my sets.In addition I started filing some holes in my half set. Looking back over this period there is no dobt that good quailty coins have been the best of all investments, as well as a great hobby. On average my good quailty stuff went up about 33% per year. As I have started acquiring again the one thing that has amazed me is how expensive some of the new issues are relative to their mintages. I recently bought 3 Barber proofs for an average of $575
each with an average mintage of 700 coins. So maybe one of you young lions can tell me why anyone would pay $2,200 for a 1995W American Silver Eagle proof with a mintage of 30,125. I know there are lots of dollar collectors out there, but there are only 10 or 15 bidders on the other proofs in this set on Ebay. How can there be a demand for 30,125 coins that would have pushed the price this high in a short 8 years.In addition this coin is not even made as a hole in most collector books.

fountainheadgold

Goldsaint, Welcome to the Boards. I agree about the price vs. other rarer coins. I have owned several of the 1995-w pr69dcam silver eagles., can tell you I sell them instantly for $2400.00, I am amazed how quickly they sold. The only conclusion is the demand is very strong now, but will it hold. the eagle program is gaining in popularity though.

DeepCoin

There are very few Barber collectors compared to SAE collectors. The Mint just sold out a run of 750,000 SAEs for 2003. It stands to reason that while not rare compared to Barbers, there are far more collectors of SAEs. This may seem hard for some as moderns have become quite popular.

I will make no assertion as to the relative value other than to say that the 1995-W has held fairly constant in the past 3 yrs I have been watching. It seems to me that this is a classic supply / demand issue.

I was thinking of buying a 3CN proof on Legend's web site for the very reason that it is relatively inexpensive and under 1000 were minted. I know that there will NEVER be a great demand for this coin as it is a niche collector area and thus the prices will be depressed due to lack of relative demand.

I hope this explanation makes some sense when looking at modern versus classic prices. It is really all supply / demand at work in the market.

Steve27

I agree with fountainheadgold, it's the popularity of the series that causes the 95-W to be such a hot seller. I doubt Barber coins will ever be very popular, but if you like them, it's great to be able to get such low mintage coins at such low prices.

richbeat

<< <i>"....I started filing some holes in my half set." >>





Not a good idea. When you file the holes the halves won't fit. (sorry, couldn't resist!)


Welcome aboard! Hope you enjoy it here.

GOLDSAINT

Thanks all for your comments, even the Joker, the problem with all these chat sites is there are no spell checks.I have been trying to get my wife involed in my hobby also, mainly so she won't complain about how much money I am spending Ha Ha. I got her a type set book, gave her some coins to start, and put her on Ebay. She also thought she might like to collect Commem's. This morning after going to the U.S. Mint site she came and ask me about a sold out Wildlife set. She said she could not understand how one of the set was $29.00 in a mintage of 25,000 and it was now on Ebay for $65? So maybe I can see the dollars.People get hooked buying for a silver hedge, then buy proofs, and then maybe if they have the income a 95W. I think if I was really rich I might own one of these just to have the set, but I would not want to be holding this coin or any of these high mintage proofs for long term.I also agree that there are surely a great many more of these type dollar collectors than there are Barber half collectors, but somehow the new people have to learn that coin collecting is about finding those rarer treasures, and not speculating in big silver pieces at VERY high prices.Gee $2,400 can buy you 5 BU
$20 gold pieces!

Russ

<< <i>There are very few Barber collectors compared to SAE collectors. >>



There's a reason for that. There aren't enough Web TV users to drive up demand for Barbers.

Russ, NCNE

baccaruda

There are very few Barber collectors

Coin collectors are a bunch of anti-hermaphrodites I guess.

richbeat

Getting your wife involved would be great! And if it keeps her off your back, so much the better.

GOLDSAINT

There's a reason for that. There aren't enough Web TV users to drive up demand for Barbers.

Russ, NCNE


Actually Russ I collect everything ! After all these years I need a challange so Barber halves looked like a good hard set to put together in Au, Bu, and proofs. My AU/Bu Early half set is 50% done, my Bu walker set is 75%, my Franklin Bu and proofs is finished, the Kennedy is finished to 2003, so what else do we have to do on the weekends? I am not against buying new issuses in fact I have a complete set of the new dollars minus the 95W proof that I just cant see a reason to own.
Here is a little advice for some of you newby's, buy what's rare and not whats common, and you have about 24 months to do it in. When the Government starts printing the trillions of dollars to put the baby boomers into retirement everyone with a brain will come out of paper and into the coin and metals markets. Currently only a few percant of the public are in these markets, but when the public gets in, the prices of all things rare will go up by 200% to 400%. This new dollar set will surely do at least, all but the 95W proof. Right now on Ebay you can buy a full set of proof 69's in these new dollar proof for $950, buy that if you have no interest in history!