Newbie Looking for Direction

yznx3e

So after a lot of surfing I am leaning towards focusing on silver eagles to start my collection. Honestly their appearance just appeals to me and they seem to fit in my budget. Now it seems that collecting graded ones is the safe play. Any suggestions on acceptable grades to collect? I mean it would seem anything newer than 1995 would need to be a MS69 or better in order to increase in value. Any other silver eagle advice would be appreciated. Is it actually possible to collect silver coins in hopes of the price of silver rising? I mean if an ounce of silver is worth $15 then how does paying $25 for a silver eagle ever translate into a good investment. Remember I am a newbie so be easy on me.

fc

i like your idea of buying these slightly over spot, well as close as
possible, as you pick up the dates.. that would be cool and a quasi
investment in silver bullion.

as for slabbed bullion, i think it is a fad. 68, 69, etc.. all look the
same to me.

oh let me add this. if you have to pay 25 bucks for a high grade
piece of bullion raw.. and if silver goes up.. more then likely that
raw bullion round will sell for more then 25... ussually when you
buy small quantities you do pay a premium. as silver goes up,
that premium for only buying an ounce, increases also..

so if silver hits 20, you may very well sell one on ebay for 33.. ??

just a thought.

AUandAG

You'll get a lot of response on this one! Silver eagles are bullion. Pure silver basically. So, unless you have
something spectacular then I would collect for the fun not the profit. I, personally, do not collect them but do
have a few that I've acquired here and there so I may not be the best to give advice. But, if I did start a
collection it would be nothing less than MS70. 69's are very plentiful in my opinion. MS70's are a limited
few (or fewer) and thus may do want you want and that's raise in price as the years go on. Whatever,
I wish you luck!
Oh my,
bob

fc

MS70's are a limited

by the whims of grading companies. most people cannot tell a
69 from a 70. after all, why would there be so many 69s if people
could tell the difference? bulk graded stuff. some will 70..

blah.. you can see this is a farce right?

DaveG

You can collect uncirculated Silver Eagles either "bare" or slabbed.

My impression is that you'll pay a smaller premium to their silver bullion value if you collect them "bare." I believe that there are a couple of different albums you can put them in.

My opinion is that if you're "collecting" silver coins in hopes of the price of silver rising, then you're really speculating in silver. In that case, your main goal would be to purchase the silver at the smallest premium to its bullion value as you can, without regard to the condition or date of the coin, which is a different focus from collecting Silver Eagles for their own sake, which would lead you to acquire the nicest specimens you can, even if they cost a bit more.

And, you're right, paying $25 for an ounce of silver worth $15 means that silver would have to go up a lot (to around $25, in fact) for you to make money on your purchase.

MrEureka

Start out by collecting coins from change, cents through dollars. Upgrade everything as often as you can. Learn how to look at coins of varying quality, learn to use proper light and a magnifying glass, and teach yourself how to grade. Carry some coins loose in your pocket and study them every night. See how they deteriorate, day by day. The skills you gain will be invaluable, especially if you're later in a position to spend more significant amounts of money. As for your unspent money, buy some numismatic books and read them.

yznx3e

So collecting ms70's would require more money up front and could yield great profit. Buying bulk ungraded bu would be a longer term investment speculating on the future of silver. Right?

yznx3e

Thanks MrEureka I am often guilty of racing to the finish line without enjoying the view.

cladking

Welcome aboard.

RichieURich

to the Forums, Yznx3e! Enjoy!

You've received some good advice. I agree with the suggestions to read and learn first, plan what you are going to do, and only then decide to spend some money. Read through some old threads on this same topic - - hit the search button and search for "newbie" or "advice" and you'll find loads of suggestions.

JL3Eleven

<< <i>So after a lot of surfing I am leaning towards focusing on silver eagles to start my collection. Honestly their appearance just appeals to me and they seem to fit in my budget. Now it seems that collecting graded ones is the safe play. Any suggestions on acceptable grades to collect? I mean it would seem anything newer than 1995 would need to be a MS69 or better in order to increase in value. Any other silver eagle advice would be appreciated. Is it actually possible to collect silver coins in hopes of the price of silver rising? I mean if an ounce of silver is worth $15 then how does paying $25 for a silver eagle ever translate into a good investment. Remember I am a newbie so be easy on me. >>



Be sure to watch out for Milk Spots!!!

JJM

Shortgapbob

You will find a lot of good information from some very knowledgeable people on here. I would suggest buying ASEs for as close to melt as possible. Most of the uncirculated issues, except the 1996, can be found pretty close to spot price, plus a small markup. I wouldn't personally get too caught up in the ultra grade fad with these. Just buy nice pieces for smart money and enjoy them.

Good luck in your collecting.

seemyauction

Collecting Tips:

1. Look at advertised Buying and Selling prices to get an idea of what you should be paying for something. Coin World Weekly is a grea place for advertisements.
2. Take your time unless you have millions of dollars you need to hide...
3. Local coin clubs are a great place to meet collector folks like us.
4. Always ask for opinions/advise, just remember they are opinions not facts.

Have fun & welcome to the Board

Alan Stullenbarger

Shamika

<< <i>Honestly their appearance just appeals to me and they seem to fit in my budget. >>


Here is the perfect reason to collect. Focus on what you like and what you can afford. Good luck!

ricko

Welcome aboard.. enjoy... I cannot add to the already excellent advice above... listen carefully, make your decisions (and you will make mistakes) and go forward. Remember... if it is a hobby, it should be fun... if it is for profit, it is work - proceed accordingly. Cheers, RickO