Reverse Proof Suddenly My Most Valuable Coin

ChuckC · May 31, 2007 10:39PM

Anyone else experience this? It's kinda cool owning a $400 coin (being the small time collector that I am).

Bruceswar · May 31, 2007 10:41PM

While I did not buy the set, nor do I own the coin, I think it is very cool when you own a coin that takes a big price jump!

EricSan · May 31, 2007 11:11PM

I remember the same feeling when I discovered my 1999 silver proof set was worth 10x what I paid for it. Then it happened again with the 2001 Buffalo commem; now with the 20th Anniv set. Pretty cool when you consider the initial purchase price!

Eric

guitarwes · May 31, 2007 11:37PM

Mine too. Well, 4 of my most expensive coins since I have 4 of 'em.

Thank you for pointing this out!

I have no idea why I haven't thought about this?

ricko · June 1, 2007 12:03AM

Yes... I experienced that with the 1999 set, Buffalo Commemorative, 20th anniversary set as well. However, my most significant financial windfall was my 1995 W SAE - Now that one really impressed me.

Cheers, RickO

BigDaddyz · June 1, 2007 12:28AM

maybe this RP will do the same as the 1995...its well on its way

ChuckC · June 1, 2007 12:41AM

<< maybe this RP will do the same as the 1995...its well on its way >>

I hope so too! With a mintage of 30k vs. 250k, I don't know if it will top $4,000!

relicsncoins · June 1, 2007 12:46AM

I bought 3 sets, I kept one raw, although opened, I sent two to NGC and recieved 69's on all six coins. I sold one 69 set when they were around 300 per set. I think I will keep the raw and NGC set for awhile.

JJ

19Lyds · June 1, 2007 12:48AM

<< maybe this RP will do the same as the 1995...its well on its way >>

Let's see, there were 30,125 1995's and there are only 250,000 2006 RP's?

It won't ever happen and to even consider that it would is extremely, well, naive.

BAJJERFAN · June 1, 2007 12:49AM

How many here would pay $4K or $5K for a 95W? Are these levelling off in price or still climbing slowly? If I had $5K I'd spend it on Morgans instead of a 95-W, but if I had lots of $$ I'd probly buy one.

ElKevvo · June 1, 2007 12:58AM

I never thought about that either....it is pretty cool! I have to remember not to mention it to my wife though...she would want to trade it in on house repairs, new furniture or some other useless items. But wait, I keep telling her 'Coins are an investment'...which I suppose they are to an extent but I am really a collector. Now I can use the price jump as justification to 'invest' in some more coins, ones that fill the holes in my Dansco's!

K

Edited for spelling

sfs2002usa · June 1, 2007 1:09AM

My Jackie Robinson Unc. has made significant gains! I have a few ASE-20's. Will hold for a while,
but aching to have them graded...

Goldbully · June 1, 2007 1:15AM

I remember several months back, I bought 7 PCGS PR68FS RP's for around $140/pc.

At the time, I thought I had lost my mind.

....and now they are selling for $450+++!!!!

fc · June 1, 2007 1:18AM

i would sell it and buy it back a few years from now for less.

aficionado · June 1, 2007 2:31AM

<< 

<< maybe this RP will do the same as the 1995...its well on its way >>

I hope so too! With a mintage of 30k vs. 250k, I don't know if it will top $4,000!

>>

The think about the RP, is they are currently not making anymore.

Granted the 1995W has a low mintage, what is the difference between that and regular Unc. coins or the current Unc. "W"'s. Not much.

The RP stands alone as a very unique item.

Camarasa · June 1, 2007 2:41AM

<< The think about the RP, is they are currently not making anymore. >>

I dont think they're making anymore 1995Ws either :-)

guitarwes · June 1, 2007 2:44AM

Yeah, there are several coins in history (not taking in to account that this is the FIRST and possibly ONLY Reverse Proof SAE by the US Mint) that have higher mintages than others in the series that are worth just about as much or more.

I think it will just continue to go north and level off like the '95-W's did...........

BlackBeard · June 1, 2007 2:55AM

While the RP has a higher mintage than the 95-W it has a wider appeal due to it's unique nature. If the mintages were equal I feel the RP would strongly outrank the 95-W, pricewise.

I just miss getting a set as I ended up on the overflow waiting list, just didn't work out.

But fortunately I hopped on the 2006-W unc train in plenty of time.

EricSan · June 1, 2007 3:36AM

I agree that there is not a direct relationship between the 2006 RP and the 1995-W eagles in terms of mintage vs. price. The uniqueness and recent buzz about the reverse proof will cause it to continue climbing - probably not to the same level as the 1995-w, but much higher than the 250,000 would otherwise indicate.

Eric

TwoSides2aCoin · June 1, 2007 3:40AM

Could you apply this coin to the "box of 20" concept as it pertains to "collecting" ?
There is an interesting thread about this . I would think it could be a catalyst coin for the "Box of 20" for many collectors. Or am I seeing this all wrong ?

jmski52 · June 1, 2007 3:57AM

Whether or not the RP keeps rising or eventually falls in price, it's a cool coin. So, if the price keeps rising a bit more like I think it will, that makes it doubly-cool.

fc is just a modern-basher, so take his comments with a grain of salt. It would be sour grapes for him under most circumstances.

BAJJERFAN · June 1, 2007 5:14AM

A box of 20 of these might be nice to have.

ddink · June 1, 2007 6:00AM

<< It won't ever happen and to even consider that it would is extremely, well, naive. >>

Supply is only one half of the equation.

ricko · June 2, 2007 12:57AM

No one predicted the '95W, and naysayers were busy at $500 saying it had peaked.... and on and on... so much for the sages... No one can truly predict these things.. the coin must catch the imagination and also fit a series... and the RP does that, albeit available in a greater quantity. However, what many fail to consider, is moderns are the entry way for new collectors... i.e. statehood quarters. The ASE's are a beautiful coin, still achievable series - both proof and MS... these facts are important to new collectors. Searching for a $5M nickle gets old fast for those with limited attention spans. Coins, new or old, are fascinating - and each area has a following. To decry one over the other is like arguing about baseball vs. football.. meaningless. Enjoy the hobby as you see fit... and if you snag a treasure along the way, so much the better. Cheers, RickO

Bochiman · June 2, 2007 1:08AM

<< No one predicted the '95W, and naysayers were busy at $500 saying it had peaked.... and on and on... so much for the sages... No one can truly predict these things.. the coin must catch the imagination and also fit a series... and the RP does that, albeit available in a greater quantity. However, what many fail to consider, is moderns are the entry way for new collectors... i.e. statehood quarters. The ASE's are a beautiful coin, still achievable series - both proof and MS... these facts are important to new collectors. Searching for a $5M nickle gets old fast for those with limited attention spans. Coins, new or old, are fascinating - and each area has a following. To decry one over the other is like arguing about baseball vs. football.. meaningless. Enjoy the hobby as you see fit... and if you snag a treasure along the way, so much the better. Cheers, RickO >>

Truer words were never spoken than those spoken above. Too bad many small-minded people either want to belittle those who don't collect THEIR way or can't see how a lot of people do get into collecting.

Jcarney · June 2, 2007 1:11AM

<< 

<< maybe this RP will do the same as the 1995...its well on its way >>

Let's see, there were 30,125 1995's and there are only 250,000 2006 RP's?

It won't ever happen and to even consider that it would is extremely, well, naive. >>

Well, let's just step back a bit, not be so smug and dismissive, and think about this for a second. First of all, the 1995W is simply another SAE DCAM proof, of no real special interest except to SAE collectors and key date collectors as the lowest mintage coin in the series. The Reverse proof however, while admittedly having a higher mintage, is easily the second key date of the same hugely collected series while having the additional allure of being the only silver reverse proof ever produced the the US Mint. This guarantees not only constant upward pressure on it's price by SAE collectors, but demand from ALL coin collectors due to it's coolness/uniqueness factor, demand that the 1995W doesn't have. This, I believe, is no small distinction. If mintage were the only factor, one would expect the 1995W to maintain a constant 8X price advantage relative to the 2006P RP. I believe at some point, you'll see this advantage diminish and the 2006 P RP close the gap to a point that will be shocking to some.

Jcarney · June 2, 2007 1:11AM

<< A box of 20 of these might be nice to have.

>>

Darn. I only have 11.

jmski52 · June 2, 2007 1:47AM

No one predicted the '95W, and naysayers were busy at $500

I did. I predicted it, but it wasn't exactly rocket science - it was pretty much a sure thing. I wrote several letters to the editor in Coin World when the Mint announced their elitist program to sell the '95W only to those who would shell out a grand per set. I knew that the silver eagle would become the key of the series, and I protested several times. Phillip Diehl was an inexperienced, underqualified, grandstanding, political appointee who used his position to pump up his own ego, in my opinion. I refused to buy any Proof Silver Eagles that year or since, in protest. I sold most of the ones I had, and now I wish that I hadn't. Such is life.

Having said that, it doesn't diminish from what the coin is. Whether or not you like or dislike the circumstances about how the coin was concieved and distributed, it is still a highly sought-after key in a very popular series. Whether or not you like or dislike Moderns and think that they will skyrocket or crash to the ground in flames - does not change the fact that there are people who collect them and are willing to pay alot of money to obtain one.

The current batch of instant rarities coming from the Mint are no different. Every individual has the opportunity to buy them or not, but if you decide that they are "not coins" and if you decide to continually berate them, please don't play sour grapes if they happen to become popular and go moonshot in price. Please don't put the rest of us through the experience of listening to you whine if a $100 set, jumps to $600 within a few months.

If you think that a Chain Cent is a better choice, for whatever reason - you should jump on it now, if you have the cash. If you think that a VAM Morgan is more intriguing than an Unc. 1/2 oz. 2006 Gold Eagle, by all means, buy the VAM.

But, if I profess to like Plat Eagles because they are being minted in profoundly small quantities, have interesting designs, and are still worth melt value if I choose to use them as doorstops or for target practice; and if I happen to believe that the time will come when the prices on my Plats will jump, don't criticize me if I get excited and make a post that my babies are treating me right.

itsnotjustme · June 2, 2007 1:57AM

I gues my AGE reverse proof are mine. Yes, kinda neat that something bought not to far above melt is worth so much!

ccmorgan · June 2, 2007 2:07AM

<< 

<< 

<< maybe this RP will do the same as the 1995...its well on its way >>

Let's see, there were 30,125 1995's and there are only 250,000 2006 RP's?

It won't ever happen and to even consider that it would is extremely, well, naive. >>

Well, let's just step back a bit, not be so smug and dismissive, and think about this for a second. First of all, the 1995W is simply another SAE DCAM proof, of no real special interest except to SAE collectors and key date collectors as the lowest mintage coin in the series. The Reverse proof however, while admittedly having a higher mintage, is easily the second key date of the same hugely collected series while having the additional allure of being the only silver reverse proof ever produced the the US Mint. This guarantees not only constant upward pressure on it's price by SAE collectors, but demand from ALL coin collectors due to it's coolness/uniqueness factor, demand that the 1995W doesn't have. This, I believe, is no small distinction. If mintage were the only factor, one would expect the 1995W to maintain a constant 8X price advantage relative to the 2006P RP. I believe at some point, you'll see this advantage diminish and the 2006 P RP close the gap to a point that will be shocking to some. >>

Well put JC!!

itsnotjustme · June 2, 2007 2:21AM

One other factor I think falls in favor of the 2006-P RP is that it is part of a 3 coin set. Each set kept intact means a coin not available as a single. I know the same is true for the 95-W, but I think far more of those sets will be broken.

Jcarney · June 2, 2007 2:43AM

<< If you think that a Chain Cent is a better choice, for whatever reason - you should jump on it now, if you have the cash. >>

The ironic part is that because of the "modern crap" I just may be shopping for a nice G-VG Chain Cent in the near future.

jmski52 · June 2, 2007 5:18AM

<< If you think that a Chain Cent is a better choice, for whatever reason - you should jump on it now, if you have the cash. >>

The ironic part is that because of the "modern crap" I just may be shopping for a nice G-VG Chain Cent in the near future.

And you may not be the only one, for the exact same reason.

Reverse Proof Suddenly My Most Valuable Coin

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