Premiums for Silver Eagles

jetpro · January 6, 2007 11:17PM

Why are 2006 Silver Eagles seling for multiple times the bullion price while the 2006 Gold Eagles barely sell for much above bullion? I've noticed that this is even true for silver eagles without the "W" mark or the 20th anniversary or the first strike designation.....

bigbadchad777 · January 6, 2007 11:35PM

More silver collectors than gold?

nankraut · January 7, 2007 12:08AM

Crowd mentality; uninformed; greedy; just plain stupid; no clue; etc.

ttown · January 7, 2007 12:22AM

This has always been the case look at the 10oz name brand bars they are selling for over $14 dollars an ounce. You go to name brand 1oz sizes and you'll pay more.

Goldeagle1981 · January 30, 2007 5:36AM

I do not believe raw 2006 unc. silver eagles carry much higher premium than any other years. They only carry higher premium if they are labeled as First Strike by either PCGS and NGC. I personally would not pay a higher premium for them unless it is found out that they have a very low mintage. But I agree that it is probably due to demand and supply and affordability. There are more silver eagle collectors out there than gold eagle collector and the silver eagle is much more affordable than the gold one. I believe the PCGS MS69 2006W Silver Eagle without spots is probably best investment, the problem is finding one that is spotless.

57loaded · January 30, 2007 8:19AM

no spots now or in a few years?

basestealer · January 30, 2007 8:23AM

It's not as easy for the weekend newbie to dump $700 on a gold eagle as it is to spend $20 on a silver eagle. If you really want the silver eagle coins, and the bullion bars, you can get them for spot + $1.10 from any bullion dealer. They may not be MS68, but they'll all be uncirculated.

basestealer · January 30, 2007 8:24AM

You could probably set up a nice little business buying bullion from bullion dealers and listing them on ebay for premiums!

VintageJeff · January 30, 2007 8:51AM

<< I do not believe raw 2006 unc. silver eagles carry much higher premium than any other years. They only carry higher premium if they are labeled as First Strike by either PCGS and NGC. I personally would not pay a higher premium for them unless it is found out that they have a very low mintage. But I agree that it is probably due to demand and supply and affordability. There are more silver eagle collectors out there than gold eagle collector and the silver eagle is much more affordable than the gold one. I believe the PCGS MS69 2006W Silver Eagle without spots is probably best investment, the problem is finding one that is spotless. >>

I think you need to check some auction results. Raw 2006 w UNC are selling for over $50.

Rodius · January 30, 2007 9:18AM

The 2006-W Unc with the special Mint packaging are selling for about $70 right now on Ebay. Low mintage, special sale on the US Mint site, or the ability to flip at a premium.

It's crazy and I just bought a couple of them.

pf70collector · January 30, 2007 10:48AM

More reason to watch out for the 2007's. Will they produce as much as they did in 2006 or limit them like the 200,000 singles they produced in 2006. 500,000 I believe is a lot to mint as singles. There won't be any anniversary sets like in 2006.

morgansforever · January 30, 2007 11:05AM

Wish I had bought more 06W ASE's. Just watched one end at $70.
250% profit, minus roughly 10% ebay/paypal.

segoja · January 30, 2007 11:33AM

Only the "W" mintmarks are bringing a premium.

I just bought a half a roll of 2006's for gifts and paid a little less than $15/coin.

eagle7 · January 30, 2007 11:39AM

Try buying a 1996 silver eagle in bu. You will pay at least 50.00. They dont even have a w mint mark. They just have a low mintage, relative to the other dates. And who knows how many were returned to the mint and melted. They did not sell well that year.

DeepCoin · January 30, 2007 9:42PM

I do not believe the Mint takes returns on bullion coins. What was the mintage on the 1996? I suspect it was 5 or 6 times as many as 2006-W coins produced.

Burks · January 30, 2007 9:49PM

<< 
I just bought a half a roll of 2006's for gifts and paid a little less than $15/coin. >>

Damn, must be nice. I wanted just a plain old 2006 but they were selling for $20 at the show. Pretty dinged up too.

basestealer · January 30, 2007 9:50PM

<< I do not believe the Mint takes returns on bullion coins. What was the mintage on the 1996? I suspect it was 5 or 6 times as many as 2006-W coins produced. >>

3.6 million.

1994, 1997, and 1995 have the next lowest mintages at just over 4 million.

Rodius · January 30, 2007 10:11PM

So let me get this right, the US Mint will be producing the 2007-W singles just like the 2006-W. On Ebay there are some 2007's that are selling for about $20, says they are in a presentation "box". I searched the mint web site and could find nothing about this.

basestealer · January 30, 2007 10:29PM

I always thought the w mintmark meant proof. On the US mint website, they sell regular eagles and proof "w" eagles, but no "w" regular eagles. I don't understand.

DeepCoin · January 31, 2007 1:42AM

For the first time, the Mint sold Unc SAEs through the website. These were different from the normal bullion products sold via distributors as the coin the Mint sold had a W mint mark. The coins sold via distributor did NOT have a W mint mark.

I suspect that is what is going on with the 2007. Some enterprising individuals are making the standard bullion coin look like something it is not. The Mint sells millions and millions of the bullion coins. I think the 2006-W Unc only had about 500K +/-, making it the smallest mintage for any of the Uncirculated SAEs by a large margin.

If you can have a key to a bullion series, the 2006-W is it.

stockwiz · January 31, 2007 3:50AM

if you think about it it's amazing that any of us pay a premium at all for any coin just because it has a "w" on it, or a "cc" on it in the case of older coins.. in the end they're all just chunks of copper/silver/gold and in reality if you just like collecting coins for the sake of the beauty of them and the history behind them it can just as easily be done, for example, by purchasing a 1913 barber quarter in nice condition for a fraction of the price of purchasing one with an "s" on it.

Nonetheless that hasn't stopped me from buying a bunch of the 2006-w coins at $60 each a week ago.

I've never been into collecting gold at all.. as I suspect many coin collectors aren't.. even the old gold.. I'm not sure why.. perhaps because it's expensive and I'd rather spend the money buying a rare silver coin that I believe will give a higher percentage of return then a gold coin paying largely for the gold content itself instead of demand and scarcity.

As far as the 2006-w uncirculated coins go, I expect prices for these similar to what you see for the 1993-1995 proof eagles given the mintage.. it will take a while though for the coins to be distributed and start to become relatively scarce... right now there are still dealers selling larger numbers of them.

Supply and demand.. it's why the 1/10 ounce gold coins sell so much above gold spot compared to the full ounce gold coins... for me not only is it fun because of the history of the coins, it's also the human psychology of supply and demand.. some people gamble by going to casinos, I gamble by purchasing coins and trading stocks I believe will go up in value.. educated gambling if you will

cheers.

Bochiman · January 31, 2007 3:54AM

That's "date" collecting, and that's how, due to prices, I have done my morgan dollar collection (largely raw and missing 1893, 1894, and 1895 for some reason

).

Other than that, collecting by mintmark is understandable to those that want a complete collection.

Bochiman · January 31, 2007 3:58AM

<< So let me get this right, the US Mint will be producing the 2007-W singles just like the 2006-W. On Ebay there are some 2007's that are selling for about $20, says they are in a presentation "box". I searched the mint web site and could find nothing about this. >>

Watch out for this! They are somewhat deceptive. Sure, it is in "A" presentation box, but not the Mint one. It is a NORMAL (ie....will likely be 6+million minted) 2007. The 2007-w have not come out yet and people are trying to "differentiate" and play off the prices for the 2006-w.

If you buy this, you WILL be disappointed.

kwmorgan · January 31, 2007 4:32AM

<< Try buying a 1996 silver eagle in bu. You will pay at least 50.00. They dont even have a w mint mark. They just have a low mintage, relative to the other dates. And who knows how many were returned to the mint and melted. They did not sell well that year. >>

...and its even harder to find a 1996 without milkspots. That's why a nice, clean BU 1996 is woth a premium.

garsmith · January 31, 2007 12:23PM

<<Why are 2006 Silver Eagles seling for multiple times the bullion price while the 2006 Gold Eagles barely sell for much above bullion? I've noticed that this is even true for silver eagles without the "W" mark or the 20th anniversary or the first strike designation.....>>

Bidiots!

Rodius · January 31, 2007 12:45PM

<< 

<< So let me get this right, the US Mint will be producing the 2007-W singles just like the 2006-W. On Ebay there are some 2007's that are selling for about $20, says they are in a presentation "box". I searched the mint web site and could find nothing about this. >>

Watch out for this! They are somewhat deceptive. Sure, it is in "A" presentation box, but not the Mint one. It is a NORMAL (ie....will likely be 6+million minted) 2007. The 2007-w have not come out yet and people are trying to "differentiate" and play off the prices for the 2006-w.

If you buy this, you WILL be disappointed. >>

Thanks for the heads up on that one.

Premiums for Silver Eagles

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