Smart idea or not??
rincon4x4
Posts: 130
I'm thinking of collecting strictly American Silver Eagles and Gold Eagles now. Slabbed by PCGS of course.LOL These coins seem to be hot right now so that's the direction I'm leaning towards. What do you guys think about it?? Ya'll think this is the best way to upgrade my Silver and Gold portfolio??
Blah Blah Blah!!!
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I'd buy them in bulk, raw, for the best return on your investment, and the least premium over spot.
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"Wow, what amazing spotting" "I need to get my sunglasses out for those spots, they are wickedly brilliant!" "Wow, psychedelic spots!"
And then you'll have artificially spotted (AS) coins, and various products will be available to make authentic looking spots in no time.
Spot price will have a new meaning.
<< <i>You'll pay a premium above melt for even MS69 pieces. Around here, the MS69 Silver Eagles sell for about $45 usually.
I'd buy them in bulk, raw, for the best return on your investment, and the least premium over spot. >>
I purchased (2) 2008 ASE MS-69 First strikes on the 'Bay for $55.00 shipped to my door
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It's not a milk spot.
No, it's not blood either.
Apparently, a fleck of copper got onto the die and contaminated the surface. This occurred during manufacture and apparently does not develop years later.
<< <i>I'm thinking of collecting strictly American Silver Eagles and Gold Eagles now. Slabbed by PCGS of course.LOL These coins seem to be hot right now so that's the direction I'm leaning towards. What do you guys think about it?? Ya'll think this is the best way to upgrade my Silver and Gold portfolio?? >>
In the worst case you probably cant loose much. In the best case you will do very well. But it's certainly not a very exciting collection.
<< <i>Might be a stupid ? but I'll ask anyway. What exactly causes the "spotting" on Silver Eagles?? >>
it's okay to ask, no questions are stupid, especially if you are thinking of putting your money somewhere.
The ASE's tend to develop spots, more so in slabs than raw and some think more spots develop in PCGS slabs than NGC and also near coastal waters more than inland.
something on the planchet either after a rinse and before it is struck, or if the coin is stuck then rinsed i dunno. (my guess)
many think a rinse in pure acetone will neutralize any chance of spotting.
i vacuum seal the slabbed silver.
some of these spots can be removed from mirror proof areas of ASE, but if the spot is on the frost or any part of a MS then it is usually toast....
though you do have a PCGS and NGC guarantee...it will take a long time for turn -a -round.
you can get caught up in grading as only a 70 in modern is worth a significant amount over a 69....
if i wereyou i'd buy 90% and even 40% and EVEN war nickels for getting into upgrading a silver portfolio.
I don't think it's a smart idea, what if the value dropped in half after you make your purchase? Or it could go up.
Why slab bullion, and why buy slabbed bullion? You will surely pay a premium.
Why buy something that is "hot?" When something is "hot" that means that
everyone else is buying it, and you will be buying in at the high. If you want
to make money, buy something that is not "hot" right now. Buy stocks, buy
real estate, but please, do not buy bullion just because everyone else is.
<< <i>Two things here baffle me:
Why slab bullion, and why buy slabbed bullion? You will surely pay a premium.
Why buy something that is "hot?" When something is "hot" that means that
everyone else is buying it, and you will be buying in at the high. If you want
to make money, buy something that is not "hot" right now. Buy stocks, buy
real estate, but please, do not buy bullion just because everyone else is. >>
Great thinking and advice. If you are insistent on purchasing slabbed bullion-I would stick with gold and only those items graded MS/PR70. Anything less than 70 just doesn't appreciate according the price guides I have seen.
You will have a more enjoyable collection and a lot more coins to show for the money.
<< <i>It's very important to know that interest in the ASE and AGE are mainly on the internet. Go to a coin show and you'll find very, very little material, and very little interest from dealers. >>
I'm pretty sure dealers aren't interested because of the low margins and that may explain the paucity of specimens at shows. But based on sales, these bullion "coins" are very popular among collectors and investors alike.
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