2008 W SILVER EAGLE REVERSE OF 2007 NGC MS 70

[JuneandWard]

OK... consider me a newbie... I don't care, what I want to know is there any validity in this coin or is it all EBAY HYPE?

Is the coin worth the investment or should I consider it a fast lesson in Dumbdom!?!

 

Thanks,

Ward

 

[cpm9ball]

Welcome to the neighborhood.

 

Don't fall for the hype. I wouldn't consider this a worthwhile investment. How long have you been collecting coins? Did you ask Wally and the Beav what they think?

 

Chris

[JuneandWard]

Actually Chris, the Beav thought it was a good idea but Wally was a little bit hesitant on it... but Ediie Haskell wanted to buy the whole lot of them.

But lets get serious... I just need to know about this particular item. We have lots of coins, that we inherited, and therefore we have not just begun to collect but wanted to have some professional opinions on this item. Defintitely there will be more questions in the near future.

We thank you for your input and expertise and hope to receive more in the future.

We remain sincerely,

JuneandWard

[TomB]

No one knows what the future will hold, but Chris gave you a valid opinion based upon his years in the hobby. Is this a good investment? I don't know, but I can tell you that I have not purchased one.

[harvey8542]

I am not willing to pay the money they demand, but if I were to cherry pick a couple from a unknowing B&M I would keep one and sell the rest.

[JuneandWard]

Thank you Tom, I appreciate any and all input on any questions I have ... no matter how ighnorant they may seem!

 

Thanks,

Ward

[bsshog40]

I agree also. I would like to have one of these for my collection but well after the hype is all over. I'm thinking the prices will come back to the real world in another year. BTW, welcome Juneandward!!

[cpm9ball]

............and Tom is one of the most respected members of this group.

 

I'll be anxious to see what other coins you have in your inheritance.

 

Chris

 

PS. Eddie would probably buy waterfront property on the Moon.

[JuneandWard]

Thanks for the comment harvey8542, but what is an unknowing B&M?

 

Thanks,

Ward

[TomB]

B&M=Brick and Mortar (traditional coin shop)

[cpm9ball]

Thank you Tom, I appreciate any and all input on any questions I have ... no matter how ighnorant they may seem!

 

Thanks,

Ward

 

There are no dumb questions, just dumb answers.

 

Chris

[JuneandWard]

Thank you so much for the welcome bsshog40. A fellow Texan here and I appreciate the welcome, cause thats the way we do it in Texas... no matter how dumb one seems!

 

Thanks,

Ward

 

[JuneandWard]

Thank you TomB needdless to say a total dumb newbie here. Appreciate the translation.

 

Ward

 

[bsshog40]

Thank you so much for the welcome bsshog40. A fellow Texan here and I appreciate the welcome, cause thats the way we do it in Texas... no matter how dumb one seems!

 

Thanks,

Ward

 

What part of TX ya from? As Chris stated, no dumb questions here. There are alot of great people here and you've already been responded by a couple of the best.

[JuneandWard]

Hey Bobby, I'm from Pearland..." Where Texas Began" and you must be from Texas as well... Well Howdy Bobby!

 

Ward

[bsshog40]

Hey Bobby, I'm from Pearland..." Where Texas Began" and you must be from Texas as well... Well Howdy Bobby!

 

Ward

 

I used to live in Angleton and used to play alot of music in Alvin. Nice ta meet ya!!

[Oldtrader3]

I am waiting for the Mint to decide, finally, if they minted 47,000 rev of '07 or 12,000 rev of '07 coins. I have a NGC, MS69, Early Release, that I bought before the hype started. If the Mint made 12,000, it is a good, solid bet, if they made 47,000 as they first announced, it may not be as good a bet. Tap, tap, tap, Mint, stop vaciliating about the mintage of this coin ......................

[JuneandWard]

Thank you Oldtrader3

I will wait as well... hope we are on the fix.

 

Ward

[cpm9ball]

OT, I recall reading that the Mint used 15 of the 2007 reverse dies. If that is true, I would guess that the number would be substantially greater than 12,000. Have you read anything contradicting this?

 

Chris

[MunkyMan95]

OT, I recall reading that the Mint used 15 of the 2007 reverse dies. If that is true, I would guess that the number would be substantially greater than 12,000. Have you read anything contradicting this?

 

Chris

 

It was either CoinWorld or NN that reported somewhere around 47,000 coins got out.

[CHABSENTIA]

I don't see the problem but will look in the latest issue of Coin world when it gets here. The U.S. Mint told Coin World that they had 47,000 which amounted to three productionj shifts. so we are talking a little under 16,000 per shift.

 

Why would they then come back and use 12,000 or only 3/4 of a shift after being sure it was three shifts?

 

Until we hear from the U.S.Mint it looks like somebody started a rumor for profit.

[wogger-migration]

How to you feel value could end up between grades? NGC has the census for MS69 and MS70 at 3747 and 3083 respectfully.

[G-Myth]

well the price of both are still rising on ebay. saw a ms70 ngc er go for close to $1000 yesterday. glad I got mine early. $400 for a ms69er and ms70er

[CHABSENTIA]

The value depends on the prospective Buyer. I would not spend this much money for either. This is just my opinion and not necessarily the right one. The coin could keep going up in price.I was watching T.V. the other night and one of these Coin Shows was selling it for $899.00 They have about a 40% mark up as a rule so the prices on EBay are about right.

 

Nobody knows for sure if this coin will take off or not.Look at the missing edge Presidentials errors that were over $400.00 at first and look where they are now.Is a 2008 W Reverse of 07 more important then the missing edge lettering etc?

 

Remember last year when the 2007 W was hyped as being less production than the 2006W and that 2007 might be the last year that a "W" was minted? Well, they did do a 2008W so one has to try and separate what is hype from what might be real.

 

The spiel for having the reverse of 07 at $899.00 was that there were only 30,000 of the 1996W out and it was over $4,000 in 1969 and over $20,000 in 1970 and the 07 error was only 47,000 are a little more. The problem here is that the 1996W had a total mintage of 30,000 while the reverse of 07 has 47,000, it is still part of a mintage that so far has over 300,000 and going up.

 

So I guess the question that needs to be answered is " how does an error coin that is part of an extremely large mintage compare to a coin that has only a very small mintage? Look at the Reverse Proof that was part of the 2006 Anniversary set.. This is the only time in History that a reverse Proof has been made for any coin.While they did make one for the Platinum Eagle this is the only Silver Eagle Reverse Proof and the only reverse proof in a series.

 

Already the 2008 W Reverse of 07 is selling for more than the Reverse Proof of the same grade and it is just an error. So one has to ask how much of this coin is hype of the moment and how much is the real deal?

 

I asked myself the question and decided that I didn't want to pay this amount of Money. I could be wrong but each and every prospective Buyer needs to decide the issue for themselves.

[wogger-migration]

Some of the hype seen on ebay is based on the 1995 silver eagle, and its value at MS70. But the censuses for grading between MS69 and MS70 are far different than that which is presently known for the 2008.

People have been paying close to $2000 for those graded by PCGS.

 

I think I'll hold at the moment for getting the eagle, and let the market settle down.

 

[G-Myth]

When I purchased mine, I thought of it as a variety just like the 1995w proof and like the morgans that have reverses of other years. I consider this 07 revers to be a variety. The edge lettering missing, or doubled over seem more of an error to me. The price I paid for my two I feel is fair compared to what they are going for at the moment. But, of course it differs for everyone.

 

With the 2006w 20th set, I'm amazed at how the MS goes for more then the RPF. I'm new to this hobby and have gone overboard ($) in the begining. Anyway this is a fun experience to watch such hype over a coin, and a great lesson to watch and learn.

[CHABSENTIA]

This was my point earlier. The T.V.Show was comparing it to a 1995 W. The only problem is that the 1995 W was the only S.A.E with the W Mintmart for that coin for that year and it had a 30,000 circulation. The 07 reverse is not a separate coin. It is part of a mintage that is many times it.

[TraderGuys-migration]

OK, my turn for the conspiracy theory........

 

Since 1999, when the state quarter started, there has been at least 1 "error" found in every new series to come out.

 

First, some perfectly formed extra leaves accidently made their way onto the Wisc. quarter, and some actually fell off!! (must have been made in the fall). What happened?? A made rush to buy and buy, not just the coins already in collector's hands, but from the MINT.

 

Then, somebody forgot to roll a few buckets of presidential dollars to the edge lettering machine. Then, to make up for that booboo, he rolled the buckets through the machine twice!!!! What happened??? A mad rush to buy and buy.

 

Now, in a series which hasn't had a single error of any kind in 23 years (that I know of) suddenly has had an underpaid mint worker "forget" to change the dies from 2007 to 2008. What has this caused??? A mad rush to buy and buy..........

 

In my humble and uneducated opinion, these 3 errors alone have assured the mint that people will be buying their products until they bleed in the hope that one may have an undiscovered "error"

 

BTW, just wait until they start making the new Lincolns!!!!!

[CHABSENTIA]

OK, my turn for the conspiracy theory........

 

Since 1999, when the state quarter started, there has been at least 1 "error" found in every new series to come out.

 

First, some perfectly formed extra leaves accidently made their way onto the Wisc. quarter, and some actually fell off!! (must have been made in the fall). What happened?? A made rush to buy and buy, not just the coins already in collector's hands, but from the MINT.

 

Then, somebody forgot to roll a few buckets of presidential dollars to the edge lettering machine. Then, to make up for that booboo, he rolled the buckets through the machine twice!!!! What happened??? A mad rush to buy and buy.

 

Now, in a series which hasn't had a single error of any kind in 23 years (that I know of) suddenly has had an underpaid mint worker "forget" to change the dies from 2007 to 2008. What has this caused??? A mad rush to buy and buy..........

 

In my humble and uneducated opinion, these 3 errors alone have assured the mint that people will be buying their products until they bleed in the hope that one may have an undiscovered "error"

 

BTW, just wait until they start making the new Lincolns!!!!!

 

Which was my earlier point that the errors on the Presidents that were over $400.00 when discovered and now under $200.00 I saw one of the 07 Reverses goinf for $750.00 on Teletrade a few hours before the auction was to end.

 

If others want to spend $750.00 and up for this coin then go for it. I will spend it on other coins which I enjoy. If it goes uop further by any large amount then I will lose here. If it goes down to my Buying range then I will buy it. Otherwie it is a gamble for me at these prices.

[G-Myth]

I agree that the prices are out of control! I picked up 2 early and I thought I was paying a lot at the time. I'm still a rookie to this hobby and really only collect the SAE's. I am still a bit confused about how this is an error or a variety? And what would it be better considered as?

 

When I look at the 1995 proof I see a 1995-p (no mint mark) and the 1995-w (with mint mark). I under stand that there was 2 different mintages for this coin. But, they are of the same year. So wouldn't that make them 2 varieties of the 1995 silver eagle proof coin?

 

My father collects morgans and I am aware that there are multiple mints for the same year, some of the same mint with different obverses and reverses. These are all considered varieties, right? If so why wouldn't the 08 sea rev 07 no be considered a variety? And what would it be better considered as?

 

Like I said, I'm still a rookie and just trying to learn the ropes. I could careless what they are selling for now, or in a few years from now, cause I already have mine and I don't plan on selling them anytime soon. They are now a part of my collection and I would like to understand how the fit into my collection. Variety or error.

 

Thanks for the read and help!!!