Submitting limited ed. 2021 Am Eagle silver proof set? 0

[Derek G]

I have a couple questions about the 6 coin limited edition 2021 American Eagle silver proof set (21RCN). 1) Do you think this set is worth submitting for grading? 2) I don't see an article with submission instructions for this set (yet), but I was notified by the mint that it just shipped. Will there be special instructions, and perhaps will it receive a special designation? 

(To clarify, the reason I'm asking about special instructions is because I just submitted the 2 coin silver designer set (21XJ) and there were special instructions that said it must be submitted using Economy tier or higher, even though I thought it should have qualified for Modern). 

Thanks 

[RWB]

What do you gain? What do you loose? Does "grading" the bullion pieces mean anything?

Sorry - just very skeptical about the whole fad of "grading" modern stuff like this.

[J P M]

Personally I would think any coin that comes in its own packaging should stay that way if possible to keep its collectability intact.   

[Fenntucky Mike]

Have you seen/read this...

NGC Special Labels for the 2021 Limited Edition Silver Proof Set | NGC (ngccoin.com)

I don't think it's worth grading if you're going to keep it but if you're looking to sell, since the TPGs are handing out "special" labels for these and the mintage is somewhat low you might find some ASE label collectors looking to purchase this.

[Derek G]

Thanks for the link Fenntucky Mike. I looked for it but couldn't find it, and it wasn't listed on the page with the set varieties or early release schedule. 

And yes, I planned to sell the set. But I was just doing some rough math now that I can see what the submission criteria is, and it looks like it will cost almost $250 to get it all graded, and I'm not sure that expense is recoverable. (at least not in the near term. Possibly if I hold onto the set for some time, but I guess that's always the dilemma.)

Guess I have some thinking to do before it arrives. Thanks for the feedback. 

Edited October 14, 2021 by Derek G

[Fenntucky Mike]

On 10/14/2021 at 7:11 AM, Derek G said:

Thanks for the link. I looked for it but couldn't find it, and it wasn't listed on the page with the set varieties or early release schedule. 

And yes, I planned to sell the set. But I was just doing some rough math now that I can see what the submission criteria is, and it looks like it will cost almost $250 to get it all graded, and I'm not sure that expense is recoverable. (at least not in the near term. Possibly if I hold onto the set for some time, but I guess that's always the dilemma.)

Guess I have some thinking to do before it arrives. Thanks for the feedback. 

Wow, I took a look on ebay and the set in OGP is not selling for much above the Mint's sell price. Glad to see that people aren't loosing their minds over this. 

Is there a reason for the price levels?

Edited October 14, 2021 by Fenntucky Mike
Grammar

[Derek G]

On 10/14/2021 at 7:24 AM, Fenntucky Mike said:

Wow, I took a look on ebay and the set in OGP is not selling for much above the Mint's sell price. Glad to see that people aren't loosing their minds of this. 

Is their a reason for the price levels?

No idea. Naturally if they all grade out at pf70, there's some premium to be recouped, and the limited 50k mintage helps, but having to pay almost $250 just to get them graded (and as you mentioned, seeing the sets on eBay for not much more than cost) is not very encouraging. 

[J P M]

 

On 10/14/2021 at 7:45 AM, Derek G said:

No idea. Naturally if they all grade out at pf70, there's some premium to be recouped, and the limited 50k mintage helps, but having to pay almost $250 just to get them graded (and as you mentioned, seeing the sets on eBay for not much more than cost) is not very encouraging. 

That is the downfall they may only grade 68 or 69 and that would be a big disappointment not to mention the money out of pocket. 

[Morpheus1967]

The only way I see getting your money back on grading is the silver eagle.  Label collectors will want it once it hits the NGC registry.  

[Derek G]

On 10/14/2021 at 9:13 AM, J P Mashoke said:

 

That is the downfall they may only grade 68 or 69 and that would be a big disappointment not to mention the money out of pocket. 

Very true, and this set is required to be submitted unopened, so I can't check the coins first. 

[J P M]

On 10/14/2021 at 9:18 AM, Derek G said:

Very true, and this set is required to be submitted unopened, so I can't check the coins first. 

Well that is dumb you cant look at your own coins? What if the mint sent you Wooden Nickels you would never know.

[Derek G]

On 10/14/2021 at 9:21 AM, J P Mashoke said:

Well that is dumb you cant look at your own coins? What if the mint sent you Wooden Nickels you would never know.

It is frustrating, but understandable. This set only has a mintage of 50k, but it is comprised of 6 coins in much higher individual mintage numbers. NGC requires some submissions to be sent in unopened so they can be sure they're putting a 'set' label on coins that truly came from a set. (Otherwise some unscrupulous people might cherry pick the individual coins, submit it claiming it was the set to get the special label.)

[James Zyskowski]

The ase’s in this set have several hundred thousand cousins in individual issues. The others are available in the proof sets. Label hunters who need the limited edition wording will buy but this set is not very special.  That said collect what you like but think twice about slabbing. Can be very costly and those 69’s will kill you. Last year the WW2 privy ase was hell in grading. Some received slabs with a grade of 65 and several in66-67. Can you imagine?😉

[VKurtB]

On 10/14/2021 at 5:06 AM, RWB said:

What do you gain? What do you loose? Does "grading" the bullion pieces mean anything?

Sorry - just very skeptical about the whole fad of "grading" modern stuff like this.

I am COMPLETELY with you on this, Roger. But grading modern stuff is over 40% of NGC’s business.

[Mohawk]

I'd say that if you're going to keep this set for yourself and you're not a Registry collector, there's really no need to grade them.  The original packaging should be just fine for the set.  And, the money you save by not grading them can go toward another coin, which is a big plus in my book!

[Derek G]

On 10/16/2021 at 9:15 PM, Mohawk said:

I'd say that if you're going to keep this set for yourself and you're not a Registry collector, there's really no need to grade them.  The original packaging should be just fine for the set.  And, the money you save by not grading them can go toward another coin, which is a big plus in my book!

I am a registry collector, though not in the top tier I guess. 🤷‍♂️ I guess it would be more accurate to say that I have my collection listed in the registry, though I'm not actively trying to pursue a top spot or anything. 

I had originally decided to go ahead and get them graded anyway, since I was planning on selling the set. But I made a stupid mistake this afternoon when I was opening the mail... I had several boxes, and got the packages confused and opened the Mint box by mistake. Oh well, problem solved. Can't submit the set now, unless I just send the eagles in by themselves - but then I break up this set. Shame, too, as to my untrained eye, they all look to be 70s IMO.. Stupid, careless, self inflicted error..  😁

[Mohawk]

On 10/16/2021 at 9:22 PM, Derek G said:

I am a registry collector, though not in the top tier I guess. 🤷‍♂️ I guess it would be more accurate to say that I have my collection listed in the registry, though I'm not actively trying to pursue a top spot or anything. 

I had originally decided to go ahead and get them graded anyway, since I was planning on selling the set. But I made a stupid mistake this afternoon when I was opening the mail... I had several boxes, and got the packages confused and opened the Mint box by mistake. Oh well, problem solved. Can't submit the set now, unless I just send the eagles in by themselves - but then I break up this set. Shame, too, as to my untrained eye, they all look to be 70s IMO.. Stupid, careless, self inflicted error..  😁

Hey....we've all done things like that.  It happens.  I'm sorry to hear that, but hey, at least you still have some very nice coins which is a good thing.

[VKurtB]

On 10/14/2021 at 8:16 AM, Morpheus1967 said:

The only way I see getting your money back on grading is the silver eagle.  Label collectors will want it once it hits the NGC registry.  

I’m tempted to answer this with an “Oh, “ and then one letter repeated twice and then another letter, often used by Brits in shorthand, but I’ll behave.