Big fall in Silver Proof Eagles and Gold Proof Eagles

buyselltrade · June 11, 2017 12:12PM

Can anyone offer insight into why Silver and Gold Proof Eagles have fallen so much in 2017?

Is it just a combination of lack of demand and over supply?

Baley · June 11, 2017 12:32PM

Yup.

RedneckHB · June 11, 2017 2:07PM

Manipulation.

rawteam1 · June 11, 2017 3:35PM

How about why were they so absurdly high in the first place???

derryb · June 11, 2017 3:59PM

Because those who collect them realized they are overpriced.

buyselltrade · June 11, 2017 4:33PM

They held up there for a long time. I was just wondering if some event recently triggered a fall. They were actually in line with the US Mint premiums, but as mentioned that's not cheap.

291fifth · June 11, 2017 4:56PM

They are gravitating toward becoming just another bullion coin. To command a higher premium requires sustained collector demand and, apparently, it isn't there anymore.

rawteam1 · June 11, 2017 9:45PM

They are bullion coins and were bullion coins...

the reality or fundamentals shall we say? is now after many years , moving price and confirming that...

Baley · June 11, 2017 10:45PM

And quite bulky vs the value in slabs and esp. in the OGP

carew4me · June 12, 2017 4:28AM

milk spots killed the radio star

silversiren · June 12, 2017 7:20AM

Fallen? From what to what? Please offer at least one example. I like proof eagles (all metals) but have only really gone after an Ag and fractional Pt here and there over the years.

ricko · June 12, 2017 7:22AM

All the above.....The proofs are beautiful, however, the price has long been in question... Now, it seems, reality is setting in.... Cheers, RickO

MsMorrisine · June 12, 2017 8:30AM

maybe the same forces driving generic double eagles down are also driving the proofs down

lack of buyers?

USMarine6 · June 12, 2017 2:31PM

I've noticed also. If your paying attention the prices are starting to come back a bit.
I sold a good size quantity of ASE's a few months back to a dealer. He explained to me that he was going to hoard a few hundred until the price went back up. Looks like might have been right right but time will tell

GRANDAM · June 12, 2017 8:52PM

@buyselltrade said:
Can anyone offer insight into why Silver and Gold Proof Eagles have fallen so much in 2017?

They all spotted.

piecesofme · June 14, 2017 3:30AM

@silversiren said:
Fallen? From what to what? Please offer at least one example. I like proof eagles (all metals) but have only really gone after an Ag and fractional Pt here and there over the years.

A dealer told me just this past weekend that common dates that were $55-60 3 months ago, he can't sell for $35 now.

ricko · June 14, 2017 7:06AM

"....he can't sell for $35 now." That is interesting, was he talking about proofs or bullion?? Cheers, RickO

TwoSides2aCoin · June 16, 2017 1:49PM

If Amazon takes over distribution instead of eBay.... they could go higher. Bwahahaha

rawteam1 · June 16, 2017 3:17PM

@ricko said:
"....he can't sell for $35 now." That is interesting, was he talking about proofs or bullion?? Cheers, RickO

They both the Same thing Ricko...

bronco2078 · June 16, 2017 3:35PM

theres no blood left to squeeze from that stone. Everyone is new to bullion at some point but in a downmarket you run out of rubes after a while. How do you convince a world weary PM bug that a million of something no one wants is a scarce commodity ?

poor silver and gold junkies have been bent over by the US mint so many times they don't have anything left to spend.

ricko · June 16, 2017 4:18PM

@rawteam1 ... Technically, you are correct.... however, they are priced differently....Cheers, RickO

rawteam1 · June 16, 2017 5:15PM

4 legs good, 2 legs bad...

VanHalen · June 16, 2017 7:39PM

@piecesofme said:

@silversiren said:
Fallen? From what to what? Please offer at least one example. I like proof eagles (all metals) but have only really gone after an Ag and fractional Pt here and there over the years.

A dealer told me just this past weekend that common dates that were $55-60 3 months ago, he can't sell for $35 now.

When they're selling on ebay for under $40 delivered that's easy to understand. A few sold today for $30-$35.

silversiren · June 17, 2017 8:27AM

@piecesofme said:

@silversiren said:
Fallen? From what to what? Please offer at least one example. I like proof eagles (all metals) but have only really gone after an Ag and fractional Pt here and there over the years.

A dealer told me just this past weekend that common dates that were $55-60 3 months ago, he can't sell for $35 now.

Thanks, that sounds very similar to the 2017 proof silver 1oz libertads, mintage was higher than the last few years so premiums slumped compared to recent years as to be expected.

jdimmick · June 17, 2017 10:58AM

Heres real numbers about 6 months ago, Heritage buy prices were 44.00, they were lowered to 41.00 , then a short time ago went to 35 , then now 31.00.

My guess is : just no collector support for the proofs, becoming more and more just another form of silver.

bronco2078 · June 17, 2017 11:21AM

just hold them until december , and unload . Stock up on Maalox for the ulcers

dpoole · June 17, 2017 12:44PM

The reason I've ever bought the proofs was as Christmas gifts to the grandkids. They've got one for each year, and are tucked back in a drawer somewhere. I figure they'll get them out to look at sometime in the future, and will find them pretty, as well as a minor inflation hedge.

And who knows? Some of them may decide to be coin collectors some day as a result!

You're welcome.

piecesofme · June 18, 2017 9:34AM

That dealer friend of mine isn't even offering them right now, he's put them aside till values rebound. He's not interested in any current value offer. He'd rather sit on them.

rawteam1 · June 18, 2017 3:49PM

The old sit and wait move...
dealer around here still sitting on his 35 silver bars, 100ozers, that he got at 35per oz...
another one a bunch of gold bars at 1600...

Downtown1974 · June 18, 2017 4:41PM

@rawteam1 said:
The old sit and wait move...
dealer around here still sitting on his 35 silver bars, 100ozers, that he got at 35per oz...
another one a bunch of gold bars at 1600...

I got one of those in my area. It's a precious metals museum. Nothing for sale until the rebound.

jmski52 · June 18, 2017 4:50PM

If you bought precious metals for the express purpose of "just sitting there" it makes perfect sense not to sell until you need cash.

OTOH, if you bought precious metals to make a profit from continuous turnover, maybe you should think up another business plan.

Except for the stock market fueled by Fed money printing, nothing goes up forever - and even that might not last forever - although that seems to be the plan.

RedneckHB · June 18, 2017 5:00PM

So jmski, does that mean gold is headed lower, as you say nothing goes up forever? Seems gold has gone up forever, no?

VanHalen · June 18, 2017 5:16PM

If they drop to $25 I'll buy a roll for safe keeping.

rawteam1 · June 18, 2017 5:25PM

@jmski52 said:
If you bought precious metals for the express purpose of "just sitting there" it makes perfect sense not to sell until you need cash.

??? If one needed cash, they shoulda just kept the cash...

jmski52 · June 18, 2017 6:22PM

??? If one needed cash, they shoulda just kept the cash...

Always keep a healthy cash reserve. Next question........

jmski52 · June 18, 2017 6:24PM

So jmski, does that mean gold is headed lower, as you say nothing goes up forever? Seems gold has gone up forever, no?

I keep hearing that gold has been going down for the past 6 years. It can't be going down and up at the same time, I think.

The stock market has been going up now for some time, I think. You tell me - I'm not really keeping track of it these days. Lots less stress focusing on just doing a good job and making money.

RedneckHB · June 18, 2017 7:04PM

Stock market has been going up for 100 years, so has gold. Is that going to change? Real estate been going up forever also. Time for a change?

I think you know why assets denominated in a fiat currency increase is value vs that currency, so why should equities, gold and real estate go down--since they've been going up forever?

Relaxn · June 18, 2017 8:53PM

I think a big issue is just ASE overload... This anniversary set and that special mintage etc.... Just too damn many Eagles for the collectors to try and buoy. Then add in the super secret clandestine ASE's struck in various mints during the night and shipped via moonlight by moonshine runners... Thankfully discovered by some do gooder and being properly exploited by "in the know" dealers...

jmski52 · June 19, 2017 4:49AM

_I think a big issue is just ASE overload... This anniversary set and that special mintage etc.... Just too damn many Eagles for the collectors to try and buoy. Then add in the super secret clandestine ASE's struck in various mints during the night and shipped via moonlight by moonshine runners... Thankfully discovered by some do gooder and being properly exploited by "in the know" dealers... _

Bingo! Very well stated!

ricko · June 19, 2017 6:42AM

"....super secret clandestine ASE's struck in various mints during the night and shipped via moonlight by moonshine runners... " Tell me more about these secret mints....Cheers, RickO

koynekwest · June 19, 2017 9:07AM

I would have been an avid collector of these had they used the original reverse as depicted on the half dollar, similar to what they did with the gold Buffalo bullion coins.

jmski52 · June 19, 2017 11:43AM

ricko, I think he is referring to the ASEs having no identifying mintmark that are being marketed as being produced at various mint locations only by virtue of knowing the code numbers on the sealed boxes.

It escapes me how a coin with no identifying mintmark is somehow worth 2X or 3X as much as one that doesn't have "the label" saying so. It seems overwhelmingly insignificant to me from a collector's or numismatic standpoint.

Relaxn · June 19, 2017 1:46PM

@jmski52 said:
ricko, I think he is referring to the ASEs having no identifying mintmark that are being marketed as being produced at various mint locations only by virtue of knowing the code numbers on the sealed boxes.

It escapes me how a coin with no identifying mintmark is somehow worth 2X or 3X as much as one that doesn't have "the label" saying so. It seems overwhelmingly insignificant to me from a collector's or numismatic standpoint.

2 or 3 times? They are selling on of those clandestine Philadelphia mint struck eagles for 4 or 5,000$ dollars.... No Bulsh!t

jmski52 · June 19, 2017 8:20PM

2 or 3 times? They are selling on of those clandestine Philadelphia mint struck eagles for 4 or 5,000$ dollars.... No Bulsh!t

Ah, I passed over those recent write-ups, I thought that skimming the first paragraph or two told me about all I needed to know.

The label business is getting a bit overdone, I'd say. Who's going to pay $5,000 for one of those? I'd like to get them as a buyer for some of my stuff. I'll even provide a custom-printed label for anything over a grand.

jmski52 · June 19, 2017 8:28PM

On the other hand, I'll have to admit to buying recent years' low mintage Proof Gold Eagles in some quantity as a longterm speculation. So far, no premium and a probable loss if I had to sell now. You just never know - I did the same thing with some burnished gold fractionals back when ericj96 was posting, and some of those I've sold for good profits.

Relaxn · June 19, 2017 9:00PM

I stockpiled the 08w Buffs... missed the 09uhr double eagle... never really messed with proof silver eagles... Big mintages and big premiums dont get my blood flowing.

I loved those proof Platinum fractionals where the reverses kept changing... those were nice

TurboSnail · June 20, 2017 12:10AM

@ricko said:
"....he can't sell for $35 now." That is interesting, was he talking about proofs or bullion?? Cheers, RickO

For the record, I joined this forum and started to collect ASE since the end of March this year. And I have completed the burnished and regular bullion twice.

I bought over ten 1986 proof with gop/coa and average out at the cost of $32. As for the rest of the ASE beside 3 proof and 4 special sets that I am missing, I probably average out around $35-$36 for each proof. $28 for each burnished and $20 for each regular bullion.

And of course, while waiting on you to sell me the 1995W CHEAP!
I accidentally bumped into this coin for $38 shipped.

ricko · June 20, 2017 3:39AM

I believe that my '95W would cost you more than all those combined....(I do not actually know what you spent on all your ASE's). Cheers, RickO

EagleEye · June 21, 2017 8:58AM

These had the COA which allowed them to be in sold into IRAs. There were telemarketers selling these. Heritage was their buyer. Seems either the telemarketer went out of business or stopped selling them. When prices collapse, sellers multiply.

Big fall in Silver Proof Eagles and Gold Proof Eagles

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