Has anyone checked the price on a 1995-W Proof ASE lately??
keets
Posts: 25,351 ✭✭✭✭✭
I did over the weekend and can hardly believe it!!!!!!!! It matters little to me what's driving the price and how stupid the collectors are who are buying the things, I wish I'd bought a few sets at the issue price!!!
0
Comments
Two sold at the last Heritage auctions for $4000 ea., one was mine.
and that was before the juice!
Larry
Dabigkahuna
don't even get me started on those 1999 Silver Proof Sets and the area guy who bought 500 at the time of issue........................
<< <i>$4300!!! >>
I'll take it!
And no you didn't hit a nerve, I don't own one.
<< <i>At 30,000 mintage, that sucker is overpriced. imo >>
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I actually sold my complete set. About 1/3 had spots.
Broke my heart.
First Place Winner of the 2005 Rampage design contest!
Joe
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Considering that you can buy a 1938 Texas (mintage of 3780) for a few hundred bucks? I know where my money's going!
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
an aside to vega1-----my "name calling" is actually tongue-in-cheek based on the forum's general low opinion of Modern Issues and the sometimes impressive performance. it matters little to me why any coin appreciates in value at a rate similar to the 1995-W ASE. what amazes me is that when it's a Modern Isuue, comments like "It's coins like this that give me great hope for my Franklin Mint collection!" are always just around the corner. when it's a common date Morgan Dollar or a common date $20 St. or a common date ____________(pick any classic issue) which just so happens to be in a wonderful state of preservation there's nothing but ooh's and aah's.
demand, Andy, it's all about demand. the 1938 Texas might be a nice looking coin and well worthy of it's salt, but if you consider it's average grade of MS64.5 it really has no hope of catching the '95-W in it's average grade of PR69DCAM. demand, Andy, it's all about demand.
of the classics. With large numbers of people demanding this coin and so few
available for sale the price has been driven up. While 30,000 is a huge number
for commems or 19th century rarities it is a tiny number for a series which is
sufficiently interesting and available to be collected by the masses.
There are probably some of these coins in existence which aren't really avail-
able to the market at this time. One suspects that with the relatively small pre-
mium at which these originally sold there will be sets sitting in safety deposit
boxes whose owners have no idea the coin has increased so dramatically.
There are also some sets which are set aside intact as part of a collection. Some
of these owners don't so much desire this specific coin so much as they want to
have all the intact sets. Such coins can hit the market if the price is right.
As these collectors expand their scope and range there will, no doubt, be many
other surprises in store for market observers. If moderns become widely col-
lected there are numerous issues for which 30,000 would also appear to be a
huge number.
But I really do collect FM and my comment was serious.
As for the 38 Texas, I will happily bet that it outperforms the 95-W in the next year. $100 wager to the first qualified taker. CDN's MS-65 bid on the 38 Tex set compared to CDN bid on the 95-W, on a percentage basis.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Sorry Clad, but I do think that the 1995-W coin is now seriously overpriced. On a relative basis, it’s almost expensive as the 1907 High Relief Saint without the great art and the great history.
This is a coin that really made the silver eagle collectors unhappy. In order to maintain their sets they had to buy a $1,000 gold and silver Proof set that had this silver eagle “thrown in” as a bonus. Since many of these collectors would think that a $200 coin was very expensive, they passed. Now their sets are short a very expensive key coin.
Camelot
1938 Texas (mintage of 3780) for a few hundred bucks?
MS-65 bid on the 38 Tex set
Andy, you changed things!!! went from a single coin to a three coin set in grades which aren't average for the issues but a little high, not comparable to the '95-W Widget in it's average grade of PR69DCAM.
ah, BillJones, to clarify with some Numismatic definitions:
overpriced always means high demand.
underpriced always means low demand.
by your own admission, the '95-W is seriously in demand and the fact that the 1907 is priced close to the same level indicates the maybe hard to swallow fact that it's demand is about the same, maybe even lower.
<< <i>Perhaps the masses....are asses.----a typical response, easily dismissed.
1938 Texas (mintage of 3780) for a few hundred bucks?
MS-65 bid on the 38 Tex set
Andy, you changed things!!! >>
Well pointed out, Keets. I agree that this happens, when the legitimate logic fails. Real, legitimate logical discourse comes from the unemotional decerning of what the real supply and demand numbers mean within the actual conditions of the current market. Also, as I know a few actually do realize that supply, demand, and the actual condition of the current market is not something one can assume, guess, or describe from "hear-say". This is a "do your homework" issue, then comment from your actual experience(s). (imho)
Generally coins that sell for over $4 grand have populations that number somewhere in the hundreds to perhaps a couple thousand pieces. For example the 1877 Indian cent, which is the "king" of the Indians, has a Proof mintage of 900 coins. A few months ago I sold one in PCGS PR-65, R&B for a bit over $5 grand. Lower grade examples would sell for less, and the number pieces that would grade PR-65 or higher is probably less than 150. And while I'm sure that the vast majority of those 900, 1877 Proof Indians still exist, probably 100 or so have gone to the happy hunting ground because they were spent or lost.
The 1995-W silver eagle has a mintage of 30,125 coins. Among that group virtually all of them still exist because it was modern Proof issue that was not made for circulation that was sold to collectors and investors. Within that population PR-67 would be viewed as a “low grade” coin because these pieces were well made and carefully handled at the mint.
Given the mintage and the high survival rate, my perception is that a bid $4,300 seems high for this coin. Obviously a lot of collectors admire the silver eagles and collect them by date and mint. Still, given the comparatively small number of collectors who will pay more than $1,000 for one coin, it makes me wonder if paying over $4 grand for this issue with a mintage of 30,125 is a “safe” investment. I would not be comfortable with it.
Obviously many others are and are maintaining this market. It’s like the stock market. Some analysts like some stocks and advise their clients to buy them. Others don’t and give different advice. It’s a matter of opinion so let’s not fight, OK?
<< <i>
This is a coin that really made the silver eagle collectors unhappy. In order to maintain their sets they had to buy a $1,000 gold and silver Proof set that had this silver eagle “thrown in” as a bonus. Since many of these collectors would think that a $200 coin was very expensive, they passed. Now their sets are short a very expensive key coin. >>
This is one of the big reasons that this coin is so high priced. Not only did the mintage
of this coin disturb many people so that they refused to buy it, but its existence makes
the series of more interest to collect. Large percentages of the issue was purchased
by people with little or no interest in the silver eagle so it was distributed widely but not
at the target audience.
Those who believe that this is a sure winner even at current prices are well advised to
remember there are still some of these "in the wrong hands" and these coins will trick-
le onto the market for decades. Those who are convinced the current prices are too high
should consider that there are large numbers of eagle collectors and this is part of the
set no matter how it was distributed.
Whatever the future holds for the prices of this coin it does constitute an interesting
marker for understanding the dynamics of the coin market and modern coins in particular.
I believe the 1995(w) PR69DCAM Silver Eagle is similar to some of the classic rarities that often command "too much money" for what the pop really is. But, demand is always the driving force and the 95(w) Silver Eagle is one of the strongest demand coins I encounter on the modern side.
Wondercoin
This thread makes me pause before selling my Legacy Proof sets which are hot off the presses, and even though the mintage was 50,000, the demand appears far greater.....I planned on selling a few to cover the cost of the 1 set that I will keep, but maybe I'll wait and see where the price starts to plateau - and there is no sign of that yet! This has been a pretty nice strategy for me in the past 6-7 years - buying a quantity of new mint products that I think will be hits, wait for the price to jump, sell 'em and buy some Barber halves or commems. ( Those '99 silver proof sets were a very nice investment - sorry about that, keets!)
every treasure on Earth
to be young at heart?
And as rich as you are,
it's much better by far,
to be young at heart!
A quick chart on graph paper told me this was a proof set to get and hold. I bought into the frenzy and held. The price had gotten ahead of itself and leveled off for a couple of years. Then I bought a 95-P proof ASE for $50 and realized I had paid $2500 for an ounce of bullion with a "w". I sold without getting hurt and I'm happy for those that held on.
I understand both sides of this one. I've been known to buy coins that are a little quirky and will continue to do so. I don't have to say "if only I had bought a 95-w"; because I did.
Joe
Having said that, I do own an Legacy Set so it would be nice if the price did go up, but I'm not so sure that this one is a long term winner. Earlier commemorative coins came in rich looking cherrywood boxes, and according to the Gray Sheet the value of the parts is greater than the whole.
this '95-W is no exception. the demand is high and the price has steadily risen since they were released with no sign of falling off. the aforementioned classic issues are historically stuck in the mud(but i like that
every treasure on Earth
to be young at heart?
And as rich as you are,
it's much better by far,
to be young at heart!