ASE PCGS MS69 set price decline?

CoinHusker · October 23, 2003 8:48AM

Earlier in the year a 18 coin set of PCGS MS69 American Silver Eagle's were selling in the $800 range on eBay, now they are selling in the $600 range. Silver's up a little since then, so why the drop?

ElectricEye · October 23, 2003 9:01AM

lot's of cups of coffee were distributed this year

tlhoy · October 23, 2003 9:02AM

I've noticed not only Coins but Beer Mirrors, Lights,Signs ect. are selling for less on Ebay!

flaminio · October 23, 2003 9:59AM

<< <i>Earlier in the year a 18 coin set of PCGS MS69 American Silver Eagle's were selling in the $800 range on eBay, now they are selling in the $600 range. Silver's up a little since then, so why the drop? >>

As more ASEs are submitted, more 69s are made, and the population (supply) goes up. Econ 101 will tell you that if supply increases and demand does not keep pace, the price will drop. This is the danger of high grade modern collecting everyone was warning you about.

CarlWohlforth · October 23, 2003 11:56PM

The price of silver should have absolutely no affect on ASE MS 69 prices. It really doesn't matter if 18 ounces of silver costs $80 or $100 or $120. Well I guess it does put a floor on the value of the ASEs, that is the set should never cost less than the value of the silver...

XpipedreamR · October 24, 2003 12:04AM

Ditto what Carl said. It's the same for pricier(farther away from melt value) gold coins. The value of the metal is but a small portion of the value of the coin. So unless there's some whopping change in metal prices, the coins won't change in value (on the basis of precious metal prices).

baccaruda · October 24, 2003 12:05AM

Probably because people have entire rolls of MS69s already, just without the plastic wrapped around it. They probably realized they're paying a $500 premium for $5 worth of plastic.

Shamika · October 24, 2003 12:30AM

"lot's of cups of coffee were distributed this year"

That's a good one.

JohnZ · October 24, 2003 12:33AM

What flamino said.

Anyway, why would anyone need to slab bullion? I just don't get it.

flaminio · October 24, 2003 2:26AM

<< <i>Anyway, why would anyone need to slab bullion? I just don't get it. >>

I "get" it -- there's two ways of looking at ASEs -- as just a hunk of metal, and as numismatic art. If the reason for your purchase is the former, there's no reason to slab it. If it's the latter, then ASEs are just as slabbable as any other coin.

While I do see the value of slabbing ASEs, I don't think one should pay much of a premium for it (unless it's a 70).

JohnZ · October 24, 2003 3:07AM

I beg to differ. Whether you collect ASEs for bullion value or aesthetics, it's all the same. They certainly don't need to be authenticated, and why would you need a TPG to tell you that you have a beautiful coin? But this borders on the whole slabbing of moderns debate that I have really no interest in starting. Each to his own!

cladking · October 24, 2003 3:15AM

<< <i>I beg to differ. Whether you collect ASEs for bullion value or aesthetics, it's all the same. They certainly don't need to be authenticated, and why would you need a TPG to tell you that you have a beautiful coin? But this borders on the whole slabbing of moderns debate that I have really no interest in starting. Each to his own! >>

No!!! It reallyt doesn't. The claim in this thread is that there is no need
to slab ASE's because they are mostly all the same grade and one can enjoy
them out of the slab.

Many moderns have a VERY WIDE RANGE of quality and can be extremely
elusive in high grade. While a gem modern can be appreciated out of it's
holder, so can a gem bust dollar or an XF indian cent.

JohnZ · October 24, 2003 3:19AM

Many moderns have a VERY WIDE RANGE of quality and can be extremely
elusive in high grade. While a gem modern can be appreciated out of it's
holder, so can a gem bust dollar or an XF indian cent.

Agreed. My personal needs for TPGs involve authentication. I'll buy expensive classics in slabs and crack them out. Do it all the time. Bullion is bullion, no matter how beautiful it is, and so is common small change. But like I said, each to his own.

cladking · October 24, 2003 3:27AM

JohnZ; Point taken. There is relatively little need to authenticate any moderns so far.

EvilMCT · October 24, 2003 3:34AM

Because of market demand. The sets were overpriced to begin with imho.

Ken

nwcs · October 24, 2003 3:36AM

I've slabbed a few ASEs and Mexican Onzas. Mostly due to the beautiful toning on them. I wanted them better preserved.

ASE PCGS MS69 set price decline?

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