I never expected to see the first Type 2 Eagle so cheap! 1 1

[Mr.Bill347]

Remember all the hoohaa about the first Type 2 Eagle and the last type 1?

I guess they were greatly overhyped, oversold and overpriced. 
this one on Modern Coin Mart

 

[Lem E]

I think the “sale” price is overpriced. 

Edited October 26, 2023 by Lem E

[EagleRJO]

I would prefer just a protected BU grade ASE certified by a bullion/coin dealer like the attached at about half that ridiculous price for what is just a bullion coin, which shouldn't be in a slab anyway.

That "First T2 Production" just means it was one of the initial batch of 200,000 ASEs.  Add that to all the other useless bullion slab label marketing designations, which by now are actually going for little more than a certified raw BU grade ASE ... https://www.ngccoin.com/coin-grading/designations/

The real hoohaa was about the last T1 coin struck and the first T2 coin struck, which I think were both around high 5 figures when first auctioned.  I'm sure that honeymoon has worn off by now.  

Last T1 and First T2 ASE NGC Webpage

I wonder if either of those two coins were re-sold?

Edited October 27, 2023 by EagleRJO

[RWB]

Melt +3%.

[J P M]

Melt + 5% at most places I have seen. Yes, But in a holder it is always more

[RWB]

On 10/27/2023 at 6:02 PM, J P M said:

But in a holder it is always more

But don't pay for the holder - that's someone else's loss, don't make it yours.

[J P M]

On 10/28/2023 at 11:34 AM, RWB said:

But don't pay for the holder - that's someone else's loss, don't make it yours.

I like buying holders other people have paid for. That way I am only paying for the coin inside the holder. 

[Mr.Bill347]

JPM , good point. But within the group it pretty much screams, don’t grade coins by a tpg unless they are $300. As you said, let others pay the exorbitant fees.

so with so many people losing money on those exhorbitant fees, wouldn’t you think the amount of grading would somewhat diminish? NOT! But there are always plenty of slabs to buy. Few get the bargains that you get though!

[BillJones]

In my opinion, these are the type of coins you buy raw. I can't see why they need to be certified.

I'm not sure of the significance of a "Type II Silver Eagle." This is my take on it. I won this as a door prize at a local club. The price paid was about $35. I don't know where people are buying this for 5% over melt, at least not in bulk. 

 

Edited October 29, 2023 by BillJones

[RWB]

On 10/29/2023 at 11:46 AM, BillJones said:

The price paid was about $35. I don't know where people are buying this for 5% over melt, at least not in bulk.

That's about what it's worth. What someone pays is up to them.

(Nice to see a post from you, Bill!)

[EagleRJO]

On 10/27/2023 at 6:02 PM, J P M said:

Melt + 5% at most places I have seen

From a reputable dealer?

[J P M]

On 10/29/2023 at 2:34 PM, EagleRJO said:

From a reputable dealer?

My Bad .I messed up on the key % $ I pushed and did not think about it. I have seen bullion for sale at melt +$5 not 5 % .....just to make it go away.

[Mr.Bill347]

On 10/28/2023 at 8:28 PM, J P M said:

I like buying holders other people have paid for. That way I am only paying for the coin inside the holder. 

Here’s a good example of letting others pay for the grading. 2012 S PF69 for $12.50 delivered 

Edited October 30, 2023 by Mr.Bill347

[EagleRJO]

On 10/29/2023 at 4:34 PM, J P M said:

My Bad .I messed up on the key % $ I pushed and did not think about it. I have seen bullion for sale at melt +$5 not 5 % .....just to make it go away.

Even melt + $5 sounds like a fire sale for an ASE as that is more in line with a raw bar price or off-brand silver round.  I usually see the ASE's go for more on reputable dealer sites.

[J P M]

On 10/30/2023 at 5:03 PM, EagleRJO said:

Even melt + $5 sounds like a fire sale for an ASE as that is more in line with a raw bar price or off-brand silver round.  I usually see the ASE's go for more on reputable dealer sites.

Not on line. At a coin shop I deal with if it is a common date and he likes your business he gives deals on stuff that has been there for a while..