18 1986 Silver Eagles *Owner Holding for now*

[Silver Surfer]

Hey all...
Was chatting with a good friend down the street today, talking detecting and PM's.. He told me that he bought a tube of silver eagles and regretted it as he paid way too much for them.
Anyway, he gave two away for gifts a few years back, so he only has 18 left of the tube.
He knows even less than I about PM's, and asked if I knew anyone who would offer a fair price. A coin dealer he called told him he would give him $30 each for them, which he knew was not right and I confirmed that.
Anyway, I told him I would post here, that you all are fair, and I would forward him any offers. He wants to sell them all together.

As others have stated before, I will not pass on ridiculous low offers, if he would go for that, I would find a way to buy them myself..

Thanks!

 

[Marchas45]

Re: 18 1986 Silver Eagles in tube for sale..

Hell I'll give him $40.00 each.

 

[Silver Surfer]

Re: 18 1986 Silver Eagles in tube for sale..

I have had 3 people interested and 2 offers so far... The two offers are pretty much right on spot, but shouldn't Eagles also have a "premium" factored in? I know that when I bought my silver, I went with ingots because SE's had a pretty big premium attached that made them way above spot... I will, of course, pass this on to Don, but i told him yesterday that he would get more for them than I would for my Stagecoach bars due to them always selling for more than what mine would.
Please keep in mind, Don is not hurting for $$ like I am, he is comfortably retired, so he does not need to sell them.
I also told him yesterday that he may want to consider waiting to sell them when/if silver spikes up again.

Just to add, I looked up SE's at the US Mint and they want $60 ea for them. I know nothing about these coins aside from the fact that when I purchased my silver, the high premium is exactly why I did not by SE, Maple leafs, etc... I bought Stagecoach divisible bars for $2 over spot including shipping..

So feel free to educate me since I am obviously confused as to why they cost so much, but people (on most outlets) only want to pay slightly over or at spot, but they cost so much when bought new..

 

[Bobbypins]

Re: 18 1986 Silver Eagles in tube for sale..

I've bought a few silver eagles from people in the classifieds here... and I've bought silver eagles from the dealer at the coin shop here in Okinawa. The dealer in his own brick and mortar store charges $4 over spot per coin... which is understandable considering his overhead.

But I've bought from other memebers here for either spot price.... or even slightly less than spot.... and the seller threw in the shipping. It's a matter of how badly someone wants something I suppose. But if I were going to pay full retail price, with a premium, AND shipping.... I think I would just buy from my local dealer.

Because the bottom line is this: Nobody likes to send Paypal gift to someone they don't know. For the same money... I'd rather deal with someone face to face. That's why people shop from here.... to get a deal.

 

[Diver_Down]

Re: 18 1986 Silver Eagles in tube for sale..

Just to add, I looked up SE's at the US Mint and they want $60 ea for them. I know nothing about these coins aside from the fact that when I purchased my silver, the high premium is exactly why I did not by SE, Maple leafs, etc... I bought Stagecoach divisible bars for $2 over spot including shipping..

So feel free to educate me since I am obviously confused as to why they cost so much, but people (on most outlets) only want to pay slightly over or at spot, but they cost so much when bought new..

Not all SAE's are created equal. First, The Mint does not sell the bullion version of the SAE. It is distributed to Authorized Dealers for sale by them. They are available by the box (monster green). Not all coin dealers are Authorized Dealers. They must acquire their inventory from an Authorized Dealer either per coin, by the roll, or by the box. The AD will charge a slight premium to the coin dealer. The coin dealer will then pass along his cost plus an additional premium to the customer. The more middle-men, the higher the cost.

The SAE that you found for sale by the US Mint is the Uncirculated version. It will include a mintmark (W - West Point). Same silver, but it is targeted towards collectors. Of course, it will carry a "Premium" premium.

And of course, there is the proof version. It is self-explanatory and will include the expected premium.

Now, to throw a wrench in the process, the Mint produced the bullion version this past summer at San Francisco. They did not have a mintmark, but the Monster Box from San Fran was labeled as such. Most (if not all) were sent to marketers, third-party grading services, and the like to certify/slab/grade the "San Fran" SAE's. Collectors have bought them up, but they are in for a rude awakening as later this year, the Mint is releasing a special 25 year Commemorative set for the SAE. It will include the Proof, the Uncirculated - West Point, the bullion version, and an Uncirculated - San Fran with a mint mark. These San Fran issues will skyrocket in value as it will be the first time a SAE will have the beloved "S" mintmark.

 

[Marchas45]

Re: 18 1986 Silver Eagles in tube for sale..

Hell I'll give him $40.00 each.

After reading your reply I will retract my offer, Charlie

 

[Silver Surfer]

Re: 18 1986 Silver Eagles in tube for sale..

Thanks Charlie, did I offend you (the red text)? I hope not... Now I understand a lot more, and sure appreciate all the education... Boy, the graders sure have a racket going... His coins have no mint mark, and although all but two are BU, two at the top are getting some slight Patina. I am goin to vacuum pack the BU ones for him so they stay that way...
So it seems that the offers were fair, I will forward that to him and advise holding for awhile...

Thanks again all...

 

[Marchas45]

Re: 18 1986 Silver Eagles in tube for sale..

Thanks Charlie, did I offend you (the red text)? I hope not... Now I understand a lot more, and sure appreciate all the education... Boy, the graders sure have a racket going... His coins have no mint mark, and although all but two are BU, two at the top are getting some slight Patina. I am goin to vacuum pack the BU ones for him so they stay that way...
So it seems that the offers were fair, I will forward that to him and advise holding for awhile...

Thanks again all...

No offence I always mark my replys in Red Maybe I should turn it to blue. I would also hold as prices are dropping right now.