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Silver Eagle Proof vs Uncirculated ???

pinespines Posts: 54
in Precious Metals
I used to buy Silver Eagle Proofs mainly thinking of them as a good part of my coin "collection" and yes they are a beautiful coin. Now I am concentrating more on building up my precious metals inventory and buy some silver each week, a little gold here and there.
My question is: should I convert some of my proofs to uncirculated silver eagles or even silver bars instead of hanging on to them or put another way, down the road, will they have more value being proofs or am I better off with more ounces of silver?
I wouldnt get rid of all of them but do have many extras of some years.

Thanks for your thoughts on this!

Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I would hold on to them at least until spot silver is worth more than you paid for them.
    Avid collector of GSA's.
  • TomohawkTomohawk Posts: 667 ✭✭
    I agree with GS...I'd hold them. The 1993, 1994 and 1995's have all come down quite a bit anyway...I think they'll go back up soon. Worst case, waiting for $50 silver would at least set a floor.

    Personally, I like the proofs best, but the bulk of my stash is now in 90% and 10 ozers. Sure to like looking at the proofs though.
    ASE Addict...but oh so poor!
  • pinespines Posts: 54
    Yep the proofs are very good looking.
    What started me thinking about it was an offer I got. For my 4 x 2003 proofs and 4 x 2004 proofs I was going to get a full roll of 2009 eagles. Turning 8 proofs into 20 ounces seemed not too bad a deal. Anyway this got me to thinking about all my extra proofs and if I would be better off with more ounces.
    Thanks for your replies!
  • Coll3ctorColl3ctor Posts: 3,334 ✭✭✭


    << <i>Yep the proofs are very good looking.
    What started me thinking about it was an offer I got. For my 4 x 2003 proofs and 4 x 2004 proofs I was going to get a full roll of 2009 eagles. Turning 8 proofs into 20 ounces seemed not too bad a deal. Anyway this got me to thinking about all my extra proofs and if I would be better off with more ounces.
    Thanks for your replies! >>





    I would have to take that deal all day long for the common date proofs.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Coll3ctor; Will have better knowledge & experience than me. 8 for 20 seems goodimage
    Avid collector of GSA's.
  • pinespines Posts: 54
    Yes I thought it was a good deal. That being said I think he had a specific need for these proofs and knew I wanted more silver.
    Anyway I dont think I could always get that good a trade but it still got me to thinking about turning more proofs into more ounces. I mean I love the eye candy but I am trying to acheive more ounces of silver and couldnt really come up with a reason (in my mind) why the proofs would really outperform another form of an ounce of silver if we saw a big spike up in silver prices. Arbitrary numbers here but lets say A 2004 proof was easily traded for 2 ounces of silver in another form right now. If silver spiked to $38/oz would a proof really be worth $76??? I was thinking the two ounces would be better performers in the long run.

    I currently have this desire to get more precious metals in hand! image
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    shoot, if you can sell the proofs and have enough to buy 2 or 3 normal eagles, do it!

    Quantity is what you want if your strictly into bullion.

    In a SHTF scenario, a proof eagle wouldn't get you an extra can of beans, it would be treated as a 1 oz round.
    Successful Buying and Selling transactions with:

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  • Coll3ctorColl3ctor Posts: 3,334 ✭✭✭


    << <i>shoot, if you can sell the proofs and have enough to buy 2 or 3 normal eagles, do it!

    Quantity is what you want if your strictly into bullion.

    In a SHTF scenario, a proof eagle wouldn't get you an extra can of beans, it would be treated as a 1 oz round. >>





    I would give three extra beans if it came with all OGP image
  • NitroCruiserNitroCruiser Posts: 654
    IMO you have to ask yourself if you are more a coin collector or holding for an investment. There will always be less Proof ASE's than the bullion versions. If you have a perfect PF 70 or PF69 set of ASE proofs, they command a nice premium. I believe I saw an MS 69 set of bullion ASE's going for less than $900 and that was on a TV coin show. Of course the 8 for 20 seems a nice deal. Do what make the most sense to you.
  • ttownttown Posts: 4,472 ✭✭✭
    Coins are past there peak IMO and it could be decades before they come back. As much as I like the eagles I think silver at $50 will shake most eagle collectors out of the market, they will sell and wait for much lower prices in the future Really if they lose their base whos to say they won't come back into classics or even the new silver eagles they can start from scratch on. These markets can't really be predicted and what people will collect.

    That said I'd take a good deal anytime to trade for bullion at this point esp. silver since an ounce will be close to that proof if silver really gains steam. Sounds like a very good deal to increase your holding without much cost for what you have. If you think they've fixed anything then maybe you shouldn't but I can tell you I always wanted a $3 gold piece but around 80 they were 3 grand. In 1999 I purchased a 1854 PGCS AU50 for $750. The coin market goes up and down don't get to attached to any item if you want to make money or grow your collection at no cost. Take profits when they come if the time is right, the proof have had a heck of a run don't let it get sway. JMO
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