1987 American Eagle silver dollar in Rattler sells for $1,155

ShadyDave · March 29, 2017 6:03PM

http://www.coinworld.com/news/precious-metals/2017/03/collectors-willing-to-pay-premiums-for-grading-holders.html

ChrisRx · March 29, 2017 6:14PM

We will soon be slabbing slabs.

bolivarshagnasty · March 29, 2017 6:22PM

According to the article, the 1.2 gen. ran for 3 1/2 years. Shouldn't be that rare should it? What am I missing?

ShadyDave · March 29, 2017 6:29PM

@bolivarshagnasty said:
According to the article, the 1.2 gen. ran for 3 1/2 years. Shouldn't be that rare should it? What am I missing?

I believe that early ASE's in rattlers are rare since this is when rattlers were used at PCGS and slabbing bullion didn't become a "thing" till the late 2000's. I think the people who were missing something were the bidders...their brains. As long as they're happy I guess that is all that matters.

Justacommeman · March 29, 2017 6:31PM

Very cool

mark

roadrunner · March 29, 2017 6:40PM

http://www.greatcollections.com/CoinPrices/25/Silver-Eagles?cmd=price_go&q=1987&series=89&sort=02

In that same GC auction there is an NGC MS70 that sold for $743. I like the rattler MS69 better ($1155) than that one. And I don't think it's close. There's also a PCGS MS70 which brought $968 and looks pretty close to flawless...better than the NGC 70. The regular PCGS MS69s in that same auction seem to show fairly obvious flaws/stains/etc. If just may be that someone bought the rattler because it's potentially equivalent to current PCGS MS70's. Hard to tell what light scuffs or lines are on the plastic...and hopefully not the coin.

Considering there are only 49 PCGS MS70's vs nearly 15,000 MS69's, it's not exactly easy to make one of these. And the price realized is in line to what a MS70 could be worth ($900-$2000). Would appear at least 2 bidders thought so. I doubt they were buying "just" the rattler. The coin had to be believable as MS70 to fetch approx $1,000.

By July 1989 only 43 of the 1887 ASE's had been slabbed. Not much interest there after 3 years of slabbing and over $1 MILL coins graded. And only 3 of them were graded MS69. The grading curve is much different today with MS69 as the most populated grade by a factor of 12X over MS68. Back then it was MS67-68 as the "normal" grade of a mint fresh ASE. So it is a fact it was only approx 1 of 3 slabbed before the rattlers were replaced. So there's potential in both the slab being an "R-8" or "high R-7" and the MS70 grade too imo. But I'm no player in this area....just commenting on what might be there.

TwoSides2aCoin · March 29, 2017 6:40PM

We are men. Unpredictable , throughout history. They are coins. Likewise: unpredictable in the future market. I admit that it stumps me more often than not. Our hobby, that is.

ShadyDave · March 29, 2017 6:52PM

@roadrunner said:
http://www.greatcollections.com/CoinPrices/25/Silver-Eagles?cmd=price_go&q=1987&series=89&sort=02

In that same GC auction there is an NGC MS70 that sold for $743. I like the rattler MS69 better ($1155). And I don't think it's close. The regular PCGS MS69s in that same seem to show fairly obvious flaws/stains/etc. If just may be that someone bought the rattler because it's potentially equivalent or better to current MS70's. Maybe Wondercoin can chime in. Maybe he was the buyer.

I was watching this "It's Time" Collection of 20th Century Rattlers expecting to win one or two of the 12 or so FB mercury dimes in rattlers that were ending on Sunday, but many of them sold for 2x-3x grey sheet so I backed off. Good for the cosigner and Ian...

http://www.greatcollections.com/Coin/424900/1945-S-Mercury-Dime-Micro-S-PCGS-MS-66-OGH-1st-Gen

http://www.greatcollections.com/Coin/424886/1943-Mercury-Dime-PCGS-MS-65-OGH-1st-Gen

http://www.greatcollections.com/Coin/424855/1936-D-Mercury-Dime-PCGS-MS-65-OGH-1st-Gen

JJSingleton · March 29, 2017 6:54PM

I don't really know what to say so I'll just say...

Congrats to both the seller and the buyer.

roadrunner · March 29, 2017 6:59PM

2 of those rattler 65's look pretty good to me....good MS67 candidates. And the standards for Full Bands back then was much stricter too. It would not be uncommon to see a MS65 "no band" rattler with a good strike jump to MS67 FB today. The Micro-S looks to be the best one as a likely 67 and maybe even a shot at FB....though I'm not a fan of the current FSB standards.

DIMEMAN · March 29, 2017 7:10PM

@ChrisRx said:
We will soon be slabbing slabs.

And bullion to boot.

roadrunner · March 29, 2017 7:14PM

Everyone is welcome to start submitting their rolls of 1987 ASE's to shoot for MS70's. Since only about 1 coin out of 300 makes the grade, you'll be paying something like $600-$3,000 in fees to "profit" on making a single $1,000 coin.

Fwiw 3 bidders were on this coin to the $450 level. Just 2 took it from there to over $1,000.

Texast · March 29, 2017 8:22PM

@roadrunner said:
http://www.greatcollections.com/CoinPrices/25/Silver-Eagles?cmd=price_go&q=1987&series=89&sort=02

In that same GC auction there is an NGC MS70 that sold for $743. I like the rattler MS69 better ($1155) than that one. And I don't think it's close. There's also a PCGS MS70 which brought $968 and looks pretty close to flawless...better than the NGC 70. The regular PCGS MS69s in that same auction seem to show fairly obvious flaws/stains/etc. If just may be that someone bought the rattler because it's potentially equivalent to current PCGS MS70's. Hard to tell what light scuffs or lines are on the plastic...and hopefully not the coin.

Considering there are only 49 PCGS MS70's vs nearly 15,000 MS69's, it's not exactly easy to make one of these. And the price realized is in line to what a MS70 could be worth ($900-$2000). Would appear at least 2 bidders thought so. I doubt they were buying "just" the rattler. The coin had to be believable as MS70 to fetch approx $1,000.

By July 1989 only 43 of the 1887 ASE's had been slabbed. Not much interest there after 3 years of slabbing and over $1 MILL coins graded. And only 3 of them were graded MS69. The grading curve is much different today with MS69 as the most populated grade by a factor of 12X over MS68. Back then it was MS67-68 as the "normal" grade of a mint fresh ASE. So it is a fact it was only approx 1 of 3 slabbed before the rattlers were replaced. So there's potential in both the slab being an "R-8" or "high R-7" and the MS70 grade too imo. But I'm no player in this area....just commenting on what might be there.

I can well remember when getting a 69 grade was great, of coarse everyone dreamed of a perfect "70" graded coin from PCGS. Granted minting technology has come a long way since then, and many look at a 69 grade now as worse than a plain ungraded mint issue package. And with some of the beautiful packaging over the past few years I tend to prefer not slabbing these sets that make the Beauty of the coins stand out, one of the best examples is the 2016 Gold Walking Liberty Half Dollar.
Maybe PCGS could develop Special Capsules that could still fit the original display case, maybe a Crystal Capsule with Micro Laser Engraver with the grade and other information that could be easily viewed with a 5x loop?
David Hall or other PCGS Management care to chime in?
A whole new technology for the times?
I'm in for that, it might cost a few bucks but imagine the value of a Crystal protected coin verses a piece of plastic?

bestday · March 29, 2017 8:51PM

@roadrunner said:
Everyone is welcoming to start submitting their rolls of 1987 ASE's to shoot for MS70's. Since only about 1 coin out of 300 makes the grade, you'll be paying something like $600-$3,000 in fees to "profit" on making a single $1,000 coin.

Fwiw 3 bidders were on this coin to the $450 level. Just 2 took it from there to over $1,000.

Better to buy a PCGS 70.... wonder if winning bidder pays up the $1,000 for a $60 ASE

Azurescens · March 29, 2017 9:15PM

@ChrisRx said:
We will soon be slabbing slabs.

Or silly green stickers.

hchcoin · March 29, 2017 9:22PM

@roadrunner said:
http://www.greatcollections.com/CoinPrices/25/Silver-Eagles?cmd=price_go&q=1987&series=89&sort=02

In that same GC auction there is an NGC MS70 that sold for $743. I like the rattler MS69 better ($1155) than that one. And I don't think it's close. There's also a PCGS MS70 which brought $968 and looks pretty close to flawless...better than the NGC 70. The regular PCGS MS69s in that same auction seem to show fairly obvious flaws/stains/etc. If just may be that someone bought the rattler because it's potentially equivalent to current PCGS MS70's. Hard to tell what light scuffs or lines are on the plastic...and hopefully not the coin.

Considering there are only 49 PCGS MS70's vs nearly 15,000 MS69's, it's not exactly easy to make one of these. And the price realized is in line to what a MS70 could be worth ($900-$2000). Would appear at least 2 bidders thought so. I doubt they were buying "just" the rattler. The coin had to be believable as MS70 to fetch approx $1,000.

By July 1989 only 43 of the 1887 ASE's had been slabbed. Not much interest there after 3 years of slabbing and over $1 MILL coins graded. And only 3 of them were graded MS69. The grading curve is much different today with MS69 as the most populated grade by a factor of 12X over MS68. Back then it was MS67-68 as the "normal" grade of a mint fresh ASE. So it is a fact it was only approx 1 of 3 slabbed before the rattlers were replaced. So there's potential in both the slab being an "R-8" or "high R-7" and the MS70 grade too imo. But I'm no player in this area....just commenting on what might be there.

I don't know if I have ever heard anyone call a slab a potential R-8. That cracks me up.

Lakesammman · March 29, 2017 9:34PM

Boy, am I glad no one told me it was being offered!

And yes, there are R8 and unique slab/coin combos, even with samples.

I prefer this one from the 1st year of slabbing by PCGS - courtesy of the blue chevy guy.

ricko · March 30, 2017 6:56AM

Amazing.... not sure if the fever was stoked by the slab or the potential upgrade.... Either way, I sure hope the winner is happy....too bad they are not a member here so we could understand the motivation... That is a heck of a price to pay for an ASE.... Now, if it were a '95W.... that would be different. Cheers, RickO

asheland · March 30, 2017 7:24AM

I could see paying $100, but that would be it for me.

SoCalBigMark · March 30, 2017 1:27PM

I bought this complete set and felt that the bands were not there on a significant portion.

Ezmoney · March 30, 2017 2:27PM

Ugly old rattlers.... here's a group that I'm getting ready crack and dip.

JJSingleton · March 30, 2017 2:31PM

@Ezmoney said:
Ugly old rattlers.... here's a group that I'm getting ready crack and dip.

Excellent plan. Lots of good upgrades there once they have a bath.

roadrunner · March 30, 2017 5:11PM

Use full strength on that dip solution to ensure you get all those nasty florescent green and magenta tones removed. You can't see the luster with that stuff on there.

1987 American Eagle silver dollar in Rattler sells for $1,155

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