Should I get a 2021 Monster Box? 0

[HobbyistGold]

I recently inherited 12 Gold Eagles 1 oz (10x 1999 and 2x 2001). I grew up collecting silver eagles and am sad that 2021 is the last year for the Type 1 eagles. From an investment perspective, do you think it would be a good idea to sell 10 of my gold eagles ($18,300) and then buy a 2021 type 1 Monster Box for $17,900? 

I thought it might be a good idea given it's the last year for the type 1 eagles? Should I:

1. Sell 10x eagles and Buy the monster box? 

2. Keep the gold and just continue collecting silver on a smaller scale? 

 

Thank you for your time!

 

Edited August 18, 2021 by HobbyistGold

[JKK]

I predict that the market for these eagles in all forms will fluctuate, and that there is no such thing as a crystal ball.

[HobbyistGold]

On 8/18/2021 at 7:24 PM, JKK said:

I predict that the market for these eagles in all forms will fluctuate, and that there is no such thing as a crystal ball.

Thanks JKK. I was just wondering if it sounded like a good or bad idea. I know there is no crystal ball, but, if you were in my shoes, what would you do? 

[J P M]

All metal is down now so I would not sell anything and 2021 is a crazy year for coins . Way to many coins this year I bet they will cancel each other out Value wise for many years to come. Just my opinion. How many coins in a monster box anyway?

[HobbyistGold]

On 8/18/2021 at 7:32 PM, J P Mashoke said:

All metal is down now so I would not sell anything and 2021 is a crazy year for coins . Way to many coins this year I bet they will cancel each other out Value wise for many years to come. Just my opinion. How many coins in a monster box anyway?

Thanks JP. I appreciate your feedback. Monster box is 500 eagles. 25 tubes of 20 coins. 

[James Zyskowski]

If I found myself in your place I would need to change my shorts. Congratulations no one ever left me anything but alone. 🤓😁
 

Now about your question wait and see til next year. There will still be monster boxes but give gold a chance. I would be so excited and happy I’m glad you’re smart enough to seek advice. Good luck and keep me posted thanks 🤓🙀🙏

[JKK]

On 8/18/2021 at 4:25 PM, HobbyistGold said:

Thanks JKK. I was just wondering if it sounded like a good or bad idea. I know there is no crystal ball, but, if you were in my shoes, what would you do? 

Do bear in mind: you asked. I would not invest in bullion at all, and if I did, I would never confuse it with coin collecting. If it were me, and I liked the idea of coins as investments, I would buy the very nicest certified collectible coins I could find. The idea there is that bullion values peak and trough far more than do the numismatic premiums of exceptional coins. For example, with a late common date St. Gaudens $20 gold piece, most of your value is tied up in the gold. But with an 1800s Charlotte or Dahlonega gold coin, the gold is value almost incidental as those are uncommon to rare, and command high premiums that will also fluctuate, but less than silver (which I have seen from $4 to $40 in my lifetime).

If I wanted to make money investing, and didn't want to learn about collectible coins, I'd buy and hold index ETFs. Unless, of course, I was one of those folk who think it's all going to hades and that precious metal is the only thing you can count on. If I were one of those, I'd spend a lot of time trying to figure out how to store and protect the metal, and how to make sure I bought it in small enough denominations so that during the apocalypse, I didn't end up having to see how many cattle I could pasture in my yard. I think little enough of the bullion-as-apocalypse-hedge notion, but if one is among them, one should at least think that through and put one's money where one's fear is.

[Mohawk]

On 8/18/2021 at 8:29 PM, JKK said:

Do bear in mind: you asked. I would not invest in bullion at all, and if I did, I would never confuse it with coin collecting. If it were me, and I liked the idea of coins as investments, I would buy the very nicest certified collectible coins I could find. The idea there is that bullion values peak and trough far more than do the numismatic premiums of exceptional coins. For example, with a late common date St. Gaudens $20 gold piece, most of your value is tied up in the gold. But with an 1800s Charlotte or Dahlonega gold coin, the gold is value almost incidental as those are uncommon to rare, and command high premiums that will also fluctuate, but less than silver (which I have seen from $4 to $40 in my lifetime).

If I wanted to make money investing, and didn't want to learn about collectible coins, I'd buy and hold index ETFs. Unless, of course, I was one of those folk who think it's all going to hades and that precious metal is the only thing you can count on. If I were one of those, I'd spend a lot of time trying to figure out how to store and protect the metal, and how to make sure I bought it in small enough denominations so that during the apocalypse, I didn't end up having to see how many cattle I could pasture in my yard. I think little enough of the bullion-as-apocalypse-hedge notion, but if one is among them, one should at least think that through and put one's money where one's fear is.

I'm with Jonathan....actual collector's coins are where it's at.  Bullion hoarding is most definitely not collecting and you could definitely make an argument that it's even a very poor investment tool.  Bullion is always a crapshoot.  Let me tell you about my favorite local coin shop.  They had a little bit of everything....lots of U.S. classic coinage, moderns, world stuff, some ancients and, of course, bullion.  It's near impossible to have a brick and mortar shop these days without getting into bullion.  My fiancée and I were regular customers for years.  Then, a few weeks ago, we went down to check things out and do some shopping. The owner was inside, packing everything up.  He told us that he was closing up shop because he couldn't handle bullion fluctuations any longer.  He'd buy a monster box of Silver Eagles, have to pay $5,000 over spot value and if silver went down, that $5,000 could just disappear.  And that did happen to him.  A few times.  So, yeah, bullion killed my favorite coin shop.  Since you asked for opinions, I'm going to be honest with you, share my opinion and say this.........stay away from bullion and get into actual coin collecting.

~Tom

Edited August 19, 2021 by Mohawk

[HobbyistGold]

On 8/18/2021 at 9:01 PM, Mohawk said:

I'm with Jonathan....actual collector's coins are where it's at.  Bullion hoarding is most definitely not collecting and you could definitely make an argument that it's even a very poor investment tool.  Bullion is always a crapshoot.  Let me tell you about my favorite local coin shop.  They had a little bit of everything....lots of U.S. classic coinage, moderns, world stuff, some ancients and, of course, bullion.  it's near impossible to have a brick and mortar shop these days without getting into bullion.  My fiancée and I were regular customers for years.  Then, a few weeks ago, we went down to check things out and do some shopping. The owner was inside, packing everything up.  He told us that he was closing up shop because he couldn't handle bullion fluctuations any longer.  He'd buy a monster box of Silver Eagles, have to pay $5,000 over spot value and if silver went down, that $5,000 could just disappear.  And that did happen to him.  A few times.  So, yeah, bullion killed my favorite coin shop.  Since you asked for opinions, I'm going to be honest with you, share my opinion and say this.........stay away from bullion and get into actual coin collecting.

Thanks Mohawk! I think the verdict has been reached. I will keep the gold. I have some silver already (100 oz or so) but it's a mix of different coin types bought over time for fun... a couple silver dollars from every country/mint, etc. 

Thanks again!     

[JKK]

If it were up to me, especially if I were really young, I'd just buy and hold small cap index ETFs in a traditional IRA. It's boring, it's simple, and it's a whole lot likelier to lead to early retirement than deciding between precious metals. Truth told, I see the precious metal market as a heavily shilled and probably artificially manipulated dodge designed to play on people's fear (and separate them from their money).

[Mohawk]

On 8/18/2021 at 9:24 PM, HobbyistGold said:

Thanks Mohawk! I think the verdict has been reached. I will keep the gold. I have some silver already (100 oz or so) but it's a mix of different coin types bought over time for fun... a couple silver dollars from every country/mint, etc. 

Thanks again!     

You're quite welcome and I'm glad I could be of some help to you!

[Fenntucky Mike]

Keep the gold, it's a lot easier to store,  and don't get tied up in the T1, T2 nonsense, there is plenty of both to go around.

[J P M]

Gold always works in my book and old coins. I have my full set of BS  ASE from 1986 to 2021  two proofs and one 2021 BS type 2 just because. Now some years of the ASE's are worth more than others but when it comes down to selling a ASE I bet any dealer would only want to pay you the current flat rate all around. I paid a little more for some years than others. So are they really worth more? or just on paper they are worth more   

[James Zyskowski]

As always there are many thoughts. As an option you could also sell one and experiment with a stack of type 1&2  not a bunch and buy a nice coin and see how they age with your taste in numismatics 🤓

Edited August 19, 2021 by James Zyskowski

[Alex in PA.]

The4 problem these days with bullion is:  1.  You must buy 'High' and 2.  You must sell 'Low'.  Dealers will not give you any breaks; it's in their nature.  Good luck and I would hold on to the Gold as long as is possible for you.

[Jason Abshier]

If I had that kind of gold laying around to offload I wouldn’t spend it into silver eagles , I’d dump it on market and turn around and buy the best “key date” coins I could or buy graded Saints in highest grade I can get them . If you really like silver eagles I’d buy them in MS/PF 70 already graded and call it a day. Otherwise they might look good especially the last year eagle reverse then theres plenty of them laying around with nobody really interested in buying them raw and graded . Silver eagle are sometimes too overrated. 

[Alex in PA.]

On 8/19/2021 at 10:34 AM, Jason Abshier said:

buy graded Saints in highest grade I can get them

YES!

[Mohawk]

On 8/19/2021 at 3:22 PM, Alex in PA. said:

YES!

Yep....if you need U.S. Gold in your life, Saints are a good way to go.

[HobbyistGold]

On 8/19/2021 at 6:49 PM, Mohawk said:

Yep....if you need U.S. Gold in your life, Saints are a good way to go.

Should I get my 12 gold eagles graded? I have two 2001s which I think are "key dates". 

[Mohawk]

On 8/19/2021 at 7:28 PM, HobbyistGold said:

Should I get my 12 gold eagles graded? I have two 2001s which I think are "key dates". 

Let me preface this by saying that I know nearly nothing about the market of actually collecting Gold Eagles. I really just see them as bullion, not really anything to properly collect.  An unpopular opinion, I'm sure, in some circles but I want to be completely transparent.  That being said, I'd say no, I wouldn't bother with it.  To me, it's money that you don't need to spend and a hassle you don't need to bring on yourself.  Honestly, if they were mine, I'd sell all of them and purchase some actual collector coins with the proceeds.  As I said above, if you feel you need U.S. Gold in your life, Saints are a good choice.  I'd just sell or trade the Gold Eagles for Saints, honestly.

Edited August 20, 2021 by Mohawk
Typo

[Numismatic, A.A.S.]

On 8/19/2021 at 7:28 PM, HobbyistGold said:

Should I get my 12 gold eagles graded? I have two 2001s which I think are "key dates". 

Have NGC grade them and I guarantee they will sell quickly....sight unseen vs. the drama of selling raw....

[J P M]

On 8/20/2021 at 5:58 AM, Numismatic, A.A.S. said:

Have NGC grade them and I guarantee they will sell quickly....sight unseen vs. the drama of selling raw....

A graded coin will be more likely to bring in a higher price and also hold it, This 2011 is a NGC Top Pop it is worth $70 the price did not go down on the slab coin when the price of silver dropped. The one below it was hand picked by me at a coin shop it is the same year mint and quality and I think it is worth $35 to $45 now with the price drop.

[Numismatic, A.A.S.]

On 8/20/2021 at 8:19 AM, J P Mashoke said:

A graded coin will be more likely to bring in a higher price and also hold it, This 2011 is a NGC Top Pop it is worth $70 the price did not go down on the slab coin when the price of silver dropped. The one below it was hand picked by me at a coin shop it is the same year mint and quality and I think it is worth $35 to $45 now with the price drop.

Exactly! You are correct...if silver dropping but premiums remain then the floor is strong and value increase then.. I can see this with the slabs like your above...THIS COIN I HAD THE EXACT SAME EXPERIENCE AS YOU NOTED....

[Jason Abshier]

On 8/20/2021 at 8:19 AM, J P Mashoke said:

This 2011 is a NGC Top Pop it is worth $70 the price did not go down on the slab coin when the price of silver dropped

The price may show up online what people are selling them for but I guarantee you a dealer wouldn’t pay $70 for MS70 silver eagle … only way to get that is if you sell it yourself to another collector who willing to pay that price … that’s the thing with graded bullion , it’s a one way street the dealer sells to you makes high profit leaves you stuck when it time to sell your only choice is sell it online to public or another collector who maybe building a registry set 

[JKK]

On 8/20/2021 at 9:09 AM, Jason Abshier said:

The price may show up online what people are selling them for but I guarantee you a dealer wouldn’t pay $70 for MS70 silver eagle … only way to get that is if you sell it yourself to another collector who willing to pay that price … that’s the thing with graded bullion , it’s a one way street the dealer sells to you makes high profit leaves you stuck when it time to sell your only choice is sell it online to public or another collector who maybe building a registry set 

Which is why I think it's truly an amazing bunco game. Take coins minted purely for their metal value, declare them collectible, and get eager beavers to pay premiums for what is simply a bullion coin--cha-ching. It's great for the grading services--they get oceans of coins to grade--and it creates this artificial demand for coins that would not normally be considered collectible. I have to wonder whether the Franklin Mint is somehow behind it.

[J P M]

On 8/20/2021 at 12:09 PM, Jason Abshier said:

a dealer wouldn’t pay $70 for MS70 silver eagle

Me either I paid $50 already in the slab it just lists for $70 not that it is worth that 

[Jason Abshier]

@JKK I agree ,We got a new hybrid of dealers that sell 50/50 of collectible coins and bullion coins “raw” and “graded” these days. In fact I know some longtime dealers who actually sold off all their classic coinage just to focus on bullion and precious metal they make money. It’s all about making the quick money these days seems like a lot footwork just to hustle bullion it can be found just about anywhere on today’s market just no room for competitors they all have marked up prices that are about the same as anywhere else a few of larger dealers might have some nice reasonable prices on older bullion and new bullion they pull in customers to make quick money … unlike classic coin dealing if a dealer has healthy inventory of “demanding” coins and network of collectors they will stay in business I e noticed bullion dealing has brained washed our collecting community seems like the new market these days I’ve noticed it at coin shows as well and all over Internet too just about 90% (maybe even more) of the dealers have their hands in to Bullion these days 

[Mohawk]

On 8/20/2021 at 12:09 PM, Jason Abshier said:

The price may show up online what people are selling them for but I guarantee you a dealer wouldn’t pay $70 for MS70 silver eagle … only way to get that is if you sell it yourself to another collector who willing to pay that price … that’s the thing with graded bullion , it’s a one way street the dealer sells to you makes high profit leaves you stuck when it time to sell your only choice is sell it online to public or another collector who maybe building a registry set 

This exactly.  Which is why I advised against grading the Gold Eagles. Jason has covered the whole problem with graded bullion perfectly here.

[Mohawk]

On 8/20/2021 at 1:04 PM, JKK said:

Which is why I think it's truly an amazing bunco game. Take coins minted purely for their metal value, declare them collectible, and get eager beavers to pay premiums for what is simply a bullion coin--cha-ching. It's great for the grading services--they get oceans of coins to grade--and it creates this artificial demand for coins that would not normally be considered collectible. I have to wonder whether the Franklin Mint is somehow behind it.

All amazing points, Jonathan!! And it does seem like a Franklin Mint-ish game........

[Jason Abshier]

Meanwhile at NGC , those poor graders and the boring monster boxes of ASE sent in for grading every year !