What's going on with Proof Silver Eagles?

lope208

I don't have too many slabbed coins, but I do have a PR68 '06 Reverse Proof...just checked the PCGS price guide and it went from $280 to $225.

The other grades have all dropped significantly as well.

Is this solely due to dropping silver price? I find it hard to believe that's the case because prices were good when silver was around $17 last time (before it jumped to $21).

Was there a recent influx of graded '06 reverse proofs into the market or something?

commoncents05

Demand has dropped greatly on 20th Anniversary sets, and the price guide is showing that IMO.

-Paul

YaHa

20 years celebrated, now the party's over. Silver dropping, demand dropping who knows where coins will go tomorrow. Always remember, coin collections should be a hobby, not a investment. Daniel Boone 1844.

clarkbar04

Silver prices dropping $4/oz couldn't possibly be to blame for the coin going down $55.

lope208

<< <i>Silver prices dropping $4/oz couldn't possibly be to blame for the coin going down $55. >>



I understand the volatility of the market, but if you meant that as sarcasm I don't buy that as the reason.
The reason I say this is because when I purchased the coin on January 1st of this year silver was below $16/oz
and had yet to make it's big run up. The value at the time was much higher. ($280 or so).

I'm more inclined to believe that it must just be the lack of demand that Paul and Yaha mentioned.

On the positive side, perhaps it's time to upgrade a point.

jdimmick

The 86 thru 05 proofs still in original boxes seem to be doing good on e-bay as i just recently sold of a large collection of them over the past 4 weeks and the prices realized were pretty good even with the large silver dip that occured during the sell period.

Jim

OPA

Prices for the graded 20th Anniv. ASE & AGE's have been correcting since last August...but have been stable for about a month. Prices quoted by the PCGS guidelines are still to optimistic & do not reflect the actual prices optained.

1794half1839

There was a ton of hype around these sets, reverse proof especially. Don't be surprised to see it drop more. Those that want the coins have them now.

Sevensteps

This is because the ASE is a BULLION coin that was never meant to be collected. It is mint hype that thousands of "collectors" have bought into. As silver moves up and down, the prices of these "premium" ASE's move down accordingly....Collector interest is basically squat in these now. They are all slowly being viewed as they were meant to be....As bullion.

There was a friend that was recently at Silvertowne mint and SAW with is own eyes rolls of unc silver eagles being dumped in the melt bucket to be formed into 1000 ounce Comex bars for short covering on the squeeze....This was a few weeks ago when silver was $21+.

No matter what pretty packaging the mint puts on these things, they are still ALL uncirculated and ALL at least MS69..They were never meant to circulate, therefore they are no really coins.

I have yet to figure out why people "collect" them numismatically?

291fifth

Yesterday's hot, hyped item. It has nothing to do with the price of silver. The "flippers" have moved on (or more likely, out.)

boucharda

<< <i>This is because the ASE is a BULLION coin that was never meant to be collected. >>



I think the topic for discussion was "Proof" ASE's which, I believe, are meant to be collected. (also the w's from 2006-present). Regular ASE's are indeed "bullion" as they were intended to be.

OPA

<< <i>This is because the ASE is a BULLION coin that was never meant to be collected. It is mint hype that thousands of "collectors" have bought into. As silver moves up and down, the prices of these "premium" ASE's move down accordingly....Collector interest is basically squat in these now. They are all slowly being viewed as they were meant to be....As bullion >>



You are comparing apples with oranges.
20th Anniv. ASE's bullion? far from it. the PCGS graded rev proofs, depending on grade, are still realizing anywhere from $200 - $1500
MS ... $70 - $3000........reg proof....$70 - $500 ..... hardly considered bullion value...

Rupert305

<< <i>This is because the ASE is a BULLION coin that was never meant to be collected. It is mint hype that thousands of "collectors" have bought into. As silver moves up and down, the prices of these "premium" ASE's move down accordingly....Collector interest is basically squat in these now. They are all slowly being viewed as they were meant to be....As bullion. >>





The 06 reverse proof coins were minted specifically for collectors. I don't know of anybody selling these for melt as regular bulllion. I think everybody who is collecting these already have their sets put away, I know I do. The reason for the price going down could also be the milk spot problems going on with these coins.

HonoluluDude

I think the cause is more sellers than buyers, lol.

BECOKA

If silver takes off there will be more people looking at these and prices will climb again.

I know I have had mine for sale in a complete ASE set and no bites.

RayNY2E

I,along with many other folks,Have 28 of the Anniversary ASE's ,Most of Them First Strikes and Reverse Proofs,Sitting on David's Desk for Spot Review for nearly 3 months now and with the price drop in the past 3 months,it has cost me thousands. I Still feel the Spot Review program Needs a "review"! I Have to take this loss because of The Spotting and Then because of the totally unfair turn around time for this Review process. I'm sure there are other people at PCGS that knows what a spot looks like besides David and could deal with this in a much more professional Manor. We pay our Dues and our Grading fees right on time and for that alone we should get better service then we're getting. Whenever I Call customer service it's like a scripted reply, They're still on David's Desk and He's the Only One that can do this. Try calling back in a few weeks......Ya mean a few more months dont' ya?? By that time, I'll probably Owe Them Money for these ASE's!! Ray in Florida..

BECOKA

<< <i>I,along with many other folks,Have 28 of the Anniversary ASE's ,Most of Them First Strikes and Reverse Proofs,Sitting on David's Desk for Spot Review for nearly 3 months now and with the price drop in the past 3 months,it has cost me thousands. I Still feel the Spot Review program Needs a "review"! I Have to take this loss because of The Spotting and Then because of the totally unfair turn around time for this Review process. I'm sure there are other people at PCGS that knows what a spot looks like besides David and could deal with this in a much more professional Manor. We pay our Dues and our Grading fees right on time and for that alone we should get better service then we're getting. Whenever I Call customer service it's like a scripted reply, They're still on David's Desk and He's the Only One that can do this. Try calling back in a few weeks......Ya mean a few more months dont' ya?? By that time, I'll probably Owe Them Money for these ASE's!! Ray in Florida.. >>



Ouch, I am lucky so far I guess. Just checked recently and no spots yet.

RWB

Speculators have to take their lumps! It is ludicrous to “demand” someone else make good your folly, whether it is mint products, real estate, bullion or soybeans.

ozzyfan269

I think part of it is because many collectors don't want any part of them due to the spotting problems. I sold all of mine last year and got my money from spot review and don't intend to buy any more.

I think there are many who feel the same as I do. That kind of wide spread sentiment will surely drive down prices.

Dump them.

BECOKA

<< <i>I think part of it is because many collectors don't want any part of them due to the spotting problems. I sold all of mine last year and got my money from spot review and don't intend to buy any more.

I think there are many who feel the same as I do. That kind of wide spread sentiment will surely drive down prices.

Dump them. >>



That is why my complete set is for sale, got tired of dealing with spots. The only ASE's I buy will be close to spot no pun intended.

Musca

Market saturation... That simple- People who wanted them bought them and with the glut of collectibles that are being released daily then I think you see people not looking for the 06. Out of sight out of mind. I think spots scare people away as well.

Jason

Jcarney

<< <i>This is because the ASE is a BULLION coin that was never meant to be collected. >>



This is silly. One could say that circulating legal tender coins aren't MEANT to be collected; they're meant to be used in commerce.

What's meant to be collected is in the eye of the collector.

Bobk

Not to worry, the government will step in and bail you out.

charley

Why would the govt. step in and bail us out of the item that they overpriced when we bought it , to be used as legal tender at a lower rate? Oh, thats' right- "Bare" Sterns- sorry. Respectfully, John Curlis

Sevensteps

<< <i>

<< <i>This is because the ASE is a BULLION coin that was never meant to be collected. It is mint hype that thousands of "collectors" have bought into. As silver moves up and down, the prices of these "premium" ASE's move down accordingly....Collector interest is basically squat in these now. They are all slowly being viewed as they were meant to be....As bullion. >>





The 06 reverse proof coins were minted specifically for collectors. I don't know of anybody selling these for melt as regular bulllion. I think everybody who is collecting these already have their sets put away, I know I do. The reason for the price going down could also be the milk spot problems going on with these coins. >>




When silver hits $25-30, they will all end up in the melt bucket and/or bullion bin because the spread between collectable and bullion will have evaporated...It's beginning to happen now.

I saw it in 1980 when BU rolls of Walkers and Franklins went to melt.

Mark it down..

sturmgrenadier

I have a PCGS PF70 2006 Reverse proof, but I don't know what it is selling for these days (I see a few 'buy it nows' on ebay, but these are likely overpriced), because I'm not a PCGS member and can't see their price guides. Could anyone tell me?

HonoluluDude

<< <i>I have a PCGS PF70 2006 Reverse proof, but I don't know what it is selling for these days (I see a few 'buy it nows' on ebay, but these are likely overpriced), because I'm not a PCGS member and can't see their price guides. Could anyone tell me? >>

prices

19Lyds

Without reading the entire thread, my comments are basically that the party is simply over!

When everybody is scrambling to buy and/or sell these then prices remained high. Now, folks have gotten what they wanted and moved on to something else.
This particular scenario happens over and over again with each new whatever that gets released!

The 1950-D nickel did it!
The 1960 SD Lincoln did it!
The 1970-D Kennedy did it!
and now, it looks like the Reverse Proof is doing it. After all, there were 250,000 or these suckers made!

This phenomenon is simply an over-inflated market due to short term interests and will be repeated until folks stop collecting coins. Kinda like having the latest and greatest until something new comes along which then becomes the "new" latest and greatest!

19Lyds

The Silver Eagle PCGS Prices are a SEA of RED!