New to collecting => question

jonesor

hello all

i've recently started collecting after having a passing interest in coins for many years, but not having the spare funds to induldge. my first question is this:

i've purchased some silver and gold eagle proofs. the coins are still in the plastic containers (airtites?) that they arrived from the distributor in. they also came in the little blue velvet holder thingeee.... know what i mean? anyway, is it worth it to get the proofs graded professionally? will the coins be removed from the plastic for grading?


thank you for your time

JrGMan2004

to the forums!!

I think for bullion coins, it's a waste to get them graded... keep them as you are, they are pretty much worth the metal in them, and a small premium with having the original packaging... leave them as they are

Louis

Welcome to the boards .

I echo what George just said, keep them in the original packaging.

jonesor

i wasn't considering removing the coins from the plastic... just getting them graded.

i guess what i'm hearing is that professionally grading proofs is a waste?

ER

BTW, are you related to Mr. jonesy?

jonesor

hmm... so in general would a circulated or uncirculated professionally graded coin trade higher or lower than an ungraded proof?


thanks for your patience.

jonesor

<< <i>
BTW, are you related to Mr. jonesy? >>




as far as I know, my only relative who collects coins can't turn on a computer...so probably not.

CardsFan

<< <i>hmm... so in general would a circulated or uncirculated professionally graded coin trade higher or lower than an ungraded proof? >>



The first part of your question depends on what type of coins and what grade, but for modern proofs unless you get a PR70 there won't be a price difference. I won't buy graded moderns, because I prefer them to be in the original mint packing and will pay more for that.

itsnotjustme

JrGMan2004 gave you wrong information. The proofs are worth much more than the metal in them. If he want's to sell me some quality proofs slightly above metal value I'm a buyer.

For the silver proofs, common dates are worth $25 to $30.
Better dates (88, 91, 92, 93, 94, 95, 96, 97, 98, 99) are worth $50 to $175.
The best date 1999-W is worth $2,700!

For Gold proofs, most run 25% to 50% above metal value.

CarlWohlforth

Certified bullion often brings more money than they do in the Mint packaging. However it costs money to have them certified. Once you factor in shipping costs it generally isn't worth it. People do pay more for perfect coins that grade PR 70 DCAM. These don't often happen. In general your coins are well made but if there are a few hairlines, which may be very difficult to see, they may grade 68 or 67 and it would be a losing proposition. So I agree with the above and suggest you enjoy them as they are.

jonesor

thanks guys, I was starting to get really disheartened. i guess i will selectively send coins in for grading.

nwcs

Welcome. It sounds like you have the bullion gold and silver coins. In my opinion, those are best left in the original packaging. The odds of the certification adding value is very small. However, if these are modern commemoratives it may be worth it in some situations.

JrGMan2004

<< <i>JrGMan2004 gave you wrong information. The proofs are worth much more than the metal in them. If he want's to sell me some quality proofs slightly above metal value I'm a buyer.

For the silver proofs, common dates are worth $25 to $30.
Better dates (88, 91, 92, 93, 94, 95, 96, 97, 98, 99) are worth $50 to $175.
The best date 1999-W is worth $2,700!

For Gold proofs, most run 25% to 50% above metal value. >>

Sorry, you are right... I was thinking of UNCs, not Proofs...

cladking

Welcome aboard.

kranky

Welcome to the boards and to collecting, jonesor.

If I could make a suggestion... think about what CarlWohlforth said. If one of those coins grades PR70 DCAM, it will be valuable - but the odds are very slim.

Prior to sending any coins in to be graded, look around and see what the coins would be worth at grades of 68 and 69. You have a 99.9% chance of getting one of those two grades. Then figure out if it's worth sending them in if those are the grades you get. Remember, there are big dealers who get coins graded for a lot less than you and I pay because they send in thousands at a time. That's why you can often buy them already graded for less than what you paid for the coin plus the grading fee.

If you won't be discouraged if the grades come back lower than you expect, then that's fine. It would just be a shame if your interest in coins would be dependant on the grades you get back.

KlectorKid

In general bullion is best left in the original mint packaging. Every once in a while people will get a grade of pr70 (perfect) and these sell for a nice amount more than ungraded examples of the same coin. If you go about getting your coins graded I recommend sending them to NGC or PCGS. Welcome.

GoldCoinLover

Uhmm folks how do you know hes not talking about the junk gold proof that advertises on TV ? (NCM, also known as National Collectors mint) those arent really real, in fact it says copy on them, as well as saying that they are 100 mil proof (0.10 inch plating proof, the rest is junk metal alloy)

I didn't tell my grandparents about them and they bought me 2 of those hideous coins. :Sigh: I cracked them open and now just keep them in the back of my closet.

Shamika

Welcome to the Forum.

jonesor

<< <i>Uhmm folks how do you know hes not talking about the junk gold proof that advertises on TV ? >>




I bought them straight of the usmint.gov site. if *they* start sending out forgeries, we all have biggggger problems.


thanks to everyone for their opinions.

GoldCoinLover

<< <i>

<< <i>Uhmm folks how do you know hes not talking about the junk gold proof that advertises on TV ? >>




I bought them straight of the usmint.gov site. if *they* start sending out forgeries, we all have biggggger problems.


thanks to everyone for their opinions. >>



Ahh okay my mistake. Nice coins then!