Submitting American Silver Eagle proofs 1 1

[P J Gulledge]

Can l submit a proof in its original plastic case?

[Coinbuf]

Yes, you have to sign the release that authorizes NGC to remove any coins from the mint capsule. 

[EagleRJO]

On 3/17/2023 at 9:42 PM, Coinbuf said:

Yes, you have to sign the release that authorizes NGC to remove any coins from the mint capsule. 

Hmmm, signing a release to remove it?  Makes you wonder why and if you should keep it in the OGP, which is what I would do.

[Coinbuf]

On 3/18/2023 at 3:05 AM, EagleRJO said:

Hmmm, signing a release to remove it?  Makes you wonder why and if you should keep it in the OGP, which is what I would do.

I have never sent in an ASE for grading because I see no reason to do that, like you I prefer to leave the few I have in the og packaging.   The release is your okie dokke for NGC to remove the coin.  And indemnifing NGC against accidental damage.   Those mint capsules are very tight and can be difficult to open.  If signing the release bothers a submitter, they have the option to remove the coin themselves and skip the release.

[ldhair]

I remember when you had to remove them and put them in flips. That did not work well with proofs. The services have became more friendly on this over the years. I would not send a Silver Eagle in for grading. 

[EagleRJO]

In addition to losing the mint seal and risking coin damage by the TPG from the removal thats on you, submitting them for grading results in a $50 to $80 loss as the very minor value bump if any doesn't come close to covering the grading cost.

All of my direct from mint coins, including ASEs and Morgans except modern dollars, are in and will remain in the OGP.

Edited March 18, 2023 by EagleRJO

[powermad5000]

We may not like it as the ASE's have become more of a Mint marketing plan, but it seems to be working on the general public. Lots of posts on here with people asking about taking their ASE's out of the OGP and submitting them. I am guessing they are doing this in the attempt to get that MS 70 or PF 70 UC grade and thinking they will make money off of buying ASE's. After all the submission costs, I am not sure there is any real gain to be made as there is with other past coinage where the difference of one grade point can mean thousands of dollars in value. I can only fathom that the percentage of ASE's coming out of the Mint that qualify for the 70 grade are a small percentage of the total made, so they have the public chasing after value that isn't really there.

[World Colonial]

On 3/18/2023 at 2:49 PM, powermad5000 said:

I can only fathom that the percentage of ASE's coming out of the Mint that qualify for the 70 grade are a small percentage of the total made, so they have the public chasing after value that isn't really there.

Neither the pct. or number are low, not even on the non-proof at NGC.  70's are really common.  Lower on the earliest dates but still not a low number.

My understanding is that most volume is from bulk submitters who make their money on the lower proportion of 70's and either lose money or not much profit on the 69's.

But the key is bulk submitter to allocate shipping and get the discounted fee.