2003 Silver American Eagles- Predictions?

HavanaJoe · November 20, 2003 4:25AM

I've noticed that the mint is out of the '03 proofs. Any predictions on what type of year '03 will be for the eagles in the long term? Will we see any PCGS MS 70's come out of '03? There are already a few PR70's out there. Will '03 values be better than '02 and '01? Any predictions for the '04 eagles?

edsondl · November 20, 2003 4:39AM

Based on 1999, when proof eagles also sold out earlier than normal, prices on the 2003 proof silver eagles will be higher than those for the 2000-2002 eagles in the resale market. As a result of this, everyone will buy 2004 proof silver eagles with the intent to resell, thus keeping a ready supply for the resale market and keeping prices on the 2004 proofs near issue price. I have no feelings on quality of the coins.

fishcooker · November 20, 2003 4:58AM

I wonder if the 2003 MS eagles are as plentiful as 2002. As I recall, dealers were forced to accept extra 2002's when ordering 2003's.

CoinGuy42 · November 20, 2003 8:09AM

With a mintage of 750,000, isnt that rather large as compared to previous years? I would have thought, even though they sold out quickly, that they would be readily available and not appreciate significantly. I suppose they will rise for a while, then go back down and level off.

Blade · November 20, 2003 8:15AM

Well, if the value of the 2003 Proof goes up it won't affect mine - it's condition is questionable after my kids got ahold of it...

airplanenut · November 20, 2003 8:21AM

<< Well, if the value of the 2003 Proof goes up it won't affect mine - it's condition is questionable after my kids got ahold of it... >>

Would it be appropriate to say... priceless?

HavanaJoe · November 20, 2003 8:28AM

This is the first year I have really been collecting- I am trying (dreaming, really) to put together 5 sets for each year:

1. BU in Airtites (cheap and easy, I need '90 and '96 to complete the set, this is how I started so I have dupes) =18 coins
2. PCGS MS69/70 (more money, nice set. I have 7 so far and am working hard on completing this one) =18 coins
3. Proof Mint Boxes (more money, I have 2 so far, '87 and '03) = 18 coins
4. PCGS PR69/70 (expensive set, I have 1 so far, '03 PR69 DCAM) = 18 coins
5. Mint Rolls BU (most expensive, I have 1 so far, '03) =360 coins (20 per roll)

For 2003 I have one from each type above. I know it's a lofty goal, 432 coins needed '86-'03 (433 if you count the 1995-W, 438 if you count the 1995-W set w/gold) and would cost about $5,000 to complete (closer to $8,000-$10,000 to add the 1995-W and 1995-W + gold set) and at least $250 per year to continue the collection.

If I had a spare $70,000 and the space to store them I'd add Sealed Mint Boxes to the list, that would be another 9,000 coins (500x18).

Can you tell I am crazy about Silver Eagles?

cladking · November 20, 2003 5:16PM

Mint sell outs usually indicate strong demand and even higher mintage items will
often tend to have higher prices for some time. In the long run the only thing that
will matter is how many were minted and how many survive, but this too will fluctuate
dependent on the nature and type of demand. Certainly proofs are more likely to be
purchased by serious collectors or souvenir hunters who are more likely to keep the
coins in their original condition than are the uncs which in many cases will be purchased
by those who's sole interest is bullion. Some types of demand will also keep newly
minted coins off the market for many years. Where speculators will almost invariably
sell right back into the market as soon as a substantial profit is possible, those who buy
them as gifts or for collections may remove them from availability indefinitely.

There seems to still be very little speculative demand (except as silver) for eagles, so
a sellout should mean a stong price at least in the next several years. The number of
collectors for these will have to continue to grow for his price to be maintained or to have
further increases over the coming decade.

HavanaJoe · November 21, 2003 1:42AM

As much as I hate to see a beautiful coin defaced I can't help but think that all of those "colorized" eagles out there would help raise the value of "untouched" eagles, if enough are pulled from the mint for defacing.

BSqr · November 21, 2003 2:18AM

Check this out. Somewhat related, somewhat off topic.

I ordered two proof ASEs from the mint, which I received. I sent one in PCGS to have it slabbed.

WHen I got my submission back I noticed that the slab said 2002 on it. I looked at the coin and sure enough it was a 2002. The mint had sent me a 2002 in 2003 packaging and I didn't even notice. I even examined the two proofs and selected the best one for submission but I completely failed to notice the year. I just assumed it was a 2003.

HavanaJoe · November 21, 2003 2:24AM

<< Check this out. Somewhat related, somewhat off topic.

I ordered two proof ASEs from the mint, which I received. I sent one in PCGS to have it slabbed.

WHen I got my submission back I noticed that the slab said 2002 on it. I looked at the coin and sure enough it was a 2002. The mint had sent me a 2002 in 2003 packaging and I didn't even notice. I even examined the two proofs and selected the best one for submission but I completely failed to notice the year. I just assumed it was a 2003. >>

Yikes! After reading this I had to double check mine! Yup, it's a 2003. Out of curiosity, what did PCGS grade it?

BSqr · November 21, 2003 2:46AM

Yikes! After reading this I had to double check mine! Yup, it's a 2003. Out of curiosity, what did PCGS grade it?

PR69DC

HavanaJoe · November 21, 2003 2:58AM

<< Yikes! After reading this I had to double check mine! Yup, it's a 2003. Out of curiosity, what did PCGS grade it?

PR69DC >>

Too bad it didn't grade 70. I've been comparing my 69 with my mint box '03, and I have to say the mint '03 is looking good. Have checked both under magnification, various light sources, etc. I'm no grader by a LONG shot, but the mint '03 looks good enough that I am tempted to submit it. I KNOW it will most likely come back a 69 (if it's less I'll rip my hair out) but WHAT IF it were a 70? There ARE a few floating around out there....

Russ · November 21, 2003 3:03AM

<< 2003 Silver American Eagles- Predictions? >>

I predict that PCGS will grade a truckload of them in PR70DCAM - far more than any past year. Maybe even more than half as many as all previous years combined. Oh, wait, they already did that.

Russ, NCNE

HavanaJoe · November 21, 2003 3:10AM

<< 

<< 2003 Silver American Eagles- Predictions? >>

I predict that PCGS will grade a truckload of them in PR70DCAM - far more than any past year. Maybe even more than half as many as all previous years combined. Oh, wait, they already did that.

Russ, NCNE >>

I've heard two theories on this Russ- Which do you agree with?

1. The mint had much higher quality control, silver quality was excellent, etc. which led to a banner year in perfect Eagles
2. PCGS is "loosening" standards on the 70 due to negative feedback about their grading policies..

Any other theories? I was wondering why so many 70s this year as well

Russ · November 21, 2003 3:11AM

#2. But, it's not so much a "loosening" as it is the fact that they just flat refused to grant the 70 grade for a few years.

Russ, NCNE

HavanaJoe · November 21, 2003 3:22AM

<< #2. But, it's not so much a "loosening" as it is the fact that they just flat refused to grant the 70 grade for a few years.

Russ, NCNE >>

That's too bad... And a perfect example of why you should "buy the coin and not the slab"... Then again, there is something undeniable about having a 70 in your collection (not that I have one yet!).

SDCollector · November 21, 2003 6:10AM

<< 432 coins needed >>

Yikes! That's a lot of SAE's. I would be careful. I quickly tired of SAE's when I first started collecting about 2 years ago. I recently sold all of my proofs (only 5 coins). Now I just buy a MS every year from my local dealer for about $7 and put it in my Dansco. I don't really care what the grade is, they all look the same to me.

They are nice coins, but the proofs are awfully expensive, IMO. And for some reason, the fact that they are bullion kind of annoyed me. But having said that, collect whatever makes you happy!

HavanaJoe · November 21, 2003 8:29AM

<< 

<< 432 coins needed >>

Yikes! That's a lot of SAE's. I would be careful. I quickly tired of SAE's when I first started collecting about 2 years ago. I recently sold all of my proofs (only 5 coins). Now I just buy a MS every year from my local dealer for about $7 and put it in my Dansco. I don't really care what the grade is, they all look the same to me.

They are nice coins, but the proofs are awfully expensive, IMO. And for some reason, the fact that they are bullion kind of annoyed me. But having said that, collect whatever makes you happy! >>

I have no idea why I like them so much- I have collected coins off and on my whole life, for some reason the passion has only grabbed me with SAEs. I might expand at some point, but for now I want to build a really serious collection.

2003 Silver American Eagles- Predictions?

Comments

Leave a Comment