Silver Eagle Grading

silvereaglefan

I need to make a decision very soon and I am looking for some advice. I am considering delivering an unopened mint box of 500 2004 silver eagles to PCGS for grading, hoping they are first strike. I did not get them directly from the Mint, they were sent to me by HSBC and they had no record of when that box was struck.

I understand for bulk orders I am obligated to accept at least MS69 grading as my minimum whether or not they turn out to be first strike. Debra(?) recommends that I also accept MS68 if they are first strike. I have not seen any of these sell on ebay so I have no idea for what price they would sell. Let me know what you know or what you think? How low a grade should I accept if they are first strike?

From what I have seen selling at ebay, I'm not inclined to go below MS69 if they are not first strike. Do you agree? Specifically, I have not seen any MS68s sell, but I've seen an MS69 go for as little as $13.50 and one for $15.50. At those prices, I would lose money if I had to pay for the grading. I'm starting to think it's just like rolling the dice, hoping it comes up "first strike" since, with PCGS, MS70 is apparently a bit of a pipe dream as well.

Should I consider NGC grading?

Thank you if you would take the time to respond.

Respectfully,
Chris

vinman

hi,
welcome to the message boards. first of all who is hsbc? You have to say to yourself is it worth the cost of the grading on that many coins in hope for a first strike ms-70. IMHO you are taking a risk ,but its only my opinion.

vinman

ddbird

I never even thought "first strike" coins pulled in much of a premium. Id save yourself some money and frustrations and skip the mass submission. You then have to go through the trouble of selling em all.

If I were you, Pick out 25 of the nicest and send em in as a test. If some come back MS70 first strike, then send the rest in.

But IMO, your gonna be stuck with 500 Ms69 and 68 eagles which retail below submission costs.

silvereaglefan

<< <i>I never even thought "first strike" coins pulled in much of a premium. Id save yourself some money and frustrations and skip the mass submission. You then have to go through the trouble of selling em all.

If I were you, Pick out 25 of the nicest and send em in as a test. If some come back MS70 first strike, then send the rest in.

But IMO, your gonna be stuck with 500 Ms69 and 68 eagles which retail below submission costs. >>

ajia

Welcome SEF,
Diito what others have said.

Also, this thread is better served on the U.S.Coin forum....unless you are selling or trading some of those Eagles!

silvereaglefan

ddbird, you said: "I never even thought "first strike" coins pulled in much of a premium." A 2002 MS69 First Strike sold on ebay
for $240 (see #8327791268). A 2003 was bid up to $159 but did not meet reserve. But I don't have any idea what the 2004 would bring. The real problem is, the only way you can get a PCGS First Strike rating is to send in the whole box unopened so they can verify that the coins were struck before 01/31/04.

RNCHSN

It seems like a lot of these folks echo my thoughts. I'd sstill consult with Wondercoin first though.

ajia

SEF,

Think about it....if the criteria for FIRST STRIKE designation is "the only way you can get a PCGS First Strike rating is to send in the whole box unopened so they can verify that the coins were struck before 01/31/XX" & PCGS only started designating coins as First Strike this year, then, of course eariler years will be with the designation will be 'rarer'.

Personally, a big waste of money.