A few questions...

[cavindabush-migration]

I have seen 2006W Silver Eagle MS70 graded by PCGS sell for around $2,000. In each case, the seller describes the coin as burnished. Now I am looking at 2007W Silver Eagle MS70 burnished sell for around $175. Why the disparity? Also, does NGC maintain a price list (as PCGS does) for their graded coins? If not, is the PCGS list considered the industry standard? Thanks.

[CoinCurious]

If I am not mistaken there were less than 500,000 of the 2006W minted including the 250,000 which were in the Anniversary Sets. As far as I know we do not yet know how many of the 2007W coins will be minted.

[jtryka]

Hi! Welcome to the forums! The main difference in the price is that the 2006-W was limited in mintage to 250,000 coins (I think that was the total, someone can correct me if I'm wrong), while the 2007-W has no mintage limit and I think have already sold about 350,000 coins with sales ongoing. NGC does not have a price list, but has partnered with Numismedia for prices on registry set coins. In general, the PCGS price list is considered quite aggressive, and often represents full retail price and sometimes even beyond that. I generally take about 20% off the PCGS price to come up with a fair market price, but it depends on the coin involved. Hope this helps!

 

I stand corrected, the 2006 had a total of 450,000 coins, 200,000 individual and 250,000 in 3-coin sets. As of the August 28th issue of Numismatic News, they report that the mint has so far sold 401,793 2007-W silver eagles.

[cavindabush-migration]

Thanks for the info. Do you know what the MS70 population is for the 2006W Silver Eagles?

[jtryka]

According to the NGC census, of the three options (regular, early releases and 20th anniversary), there were 66,123 in MS-69 and 11,535 in MS-70.

[TomB]

The mintage of the 2006-W burnished ASEs must include the coins that were parts of the 20th Anniversary ASE set, the one ounce gold and silver set and the individual 2006-W coins. This comes to a total of about 470,000 if I remember correctly.

 

However, PCGS had made a business decision to limit the grades of the burnished coins to MS69 because they were afraid that the coins might spot ("milk spot") in the future and if they did that PCGS would be liable to make the owners of such coins whole by buying the pieces back from them. Therefore, even if a coin were to make the definition of a PCGS MS70, it was still awarded the MS69 grade. Recently, PCGS announced that they would start to grade this 2006-W issue as per their guidelines for other coins and this meant that they would award the MS70 grade. Since so many coins were already submitted and received the MS69 grade there were not as many pieces raw that were sent in for the MS70. Essentially, PCGS greatly limited the numbers of PCGS MS70 pieces through a concious business decision and later reverse the decision after most high quality pieces were already graded. This created very few PCGS MS70 coins for the issue.

 

Additionally, NGC appears to award the MS70 grade more frequently than does PCGS and the market views the NGC MS70 coin as worth somewhat less than the PCGS coin. Lastly, since the 2007-W is still being minted, its final mintage might be much more than the 2006-W, though that has not happened yet. Taken together, these considerations have driven a PCGS MS70 2006-W to very high levels.

[Houston Investor]

According to CDN the dealer to dealer wholesale ask price for a uncirculated burnished 2006-W silver eagle is $110. These coins came from the mint in MS 69 and 70. The CDN does not list dealer bids for MS 70 (if indeed these exist).

 

The person who paid $2000 for one of these is probably the end user in my opinion. They paid $2000 for a coin that has a puplished wholesale ask of $110.

 

When I think of all the nice gold American Eagles this $2000 would buy, I shake my head.

[Stanley]

I have seen 2006W Silver Eagle MS70 graded by PCGS sell for around $2,000. In each case, the seller describes the coin as burnished. Now I am looking at 2007W Silver Eagle MS70 burnished sell for around $175. Why the disparity? Also, does NGC maintain a price list (as PCGS does) for their graded coins? If not, is the PCGS list considered the industry standard? Thanks.

 

This is what I would purchase if I were looking for a 2006 W MS70.

 

http://www.moderncoinmart.com/cart1/product.php?productid=16886&cat=0&page=1

Edited to add: Sorry wrong date

[Texast-migration]

I have to believe one of the reasons the 2007 W price has been low is the folks at HSN (Home Shopping Network - Coin Collector Show), they have been selling there ICG SP70's for $99.00, usually they are the ones charging 4 to 5 times the going price for something like this. For the un-educated buyer ICG, NGC and PCGS are all the same, so why pay more than they can get it for on HSN.

 

I had wondered if anyone else had picked up on this but have not heard a single comment so far.