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2006 Silver Proof American Eagles from the mint

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I'm new at this so please be nice...

I just received 5 proof sets of the 2006 Silver American Eagles from the US Mint. Is there an advantage to sending them in to NGC for grading? I would have thought that getting them from the mint as a proof set they would have the greatest value?

 

So, what do you think. Should I have them graded or leave them alone in the display case they came in.

Thanks,

Bob

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Personally I think getting these ASE Proofs graded is a waste of money. from what I have seen, most are super frosty DCAMS, and many will grade 68-69 anyway. Unless you were willing to wager on hitting a homerun (PR70DCAM), save the grading fees for more coins. JMHO

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Personally I think getting these ASE Proofs graded is a waste of money. from what I have seen, most are super frosty DCAMS, and many will grade 68-69 anyway. Unless you were willing to wager on hitting a homerum (PR70DCAM), save the grading fees for more coins. JMHO

 

I certainly agree with this!

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What do you mean by "advantage"? What are you looking for?

 

If they are for your collection, I'd suggest buying them already slabbed in the grade you want.

 

If you are looking to make money on them by slabbing and reselling, then think long and hard about it. You're going to need a PF70 to make up for the losses you're going to take on the PF69s.

 

On eBay, the PF69s are selling for ~$33 and the PF70s for ~$85. The coin costs $28 from the mint. Grading costs $12.50. So you're over already $40 to have one graded not including the S&H to/from NGC and from the mint. You're probably realistically at ~$46 a coin after having them graded.

 

Do you want to have $46 into each of them with no guarantee of what they are going to grade? You might get 5 PF70s, but realistically you'll probably get 5 PF69s or maybe 1 of them will grade PF68 or PF70.

 

FYI, I just submitted a box full of these to NGC. Even with a reduced grading fee I expect to lose about $5 per coin when selling the PF69s. If the PF70s don't come, it's not worth having them graded.

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On eBay, the PF69s are selling for ~$33 and the PF70s for ~$85. The coin costs $28 from the mint. Grading costs $12.50. So you're over already $40 to have one graded not including the S&H to/from NGC and from the mint. You're probably realistically at ~$46 a coin after having them graded.

 

Or you can just buy a nice MS67 raw from the mint for $28 and put it in your collection. Unless it is ones lot in life to keep eBay and NGC in business. yeahok.gif

 

jom

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Or you can just buy a nice MS67 raw from the mint for $28 and put it in your collection.

 

PF, not MS. You can only buy the MS from the mint if you want a truck load of them.

 

 

Unless it is ones lot in life to keep eBay and NGC in business. yeahok.gif

 

Says the guy who had me submit a coin for him at the show. poke2.gif

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HELLO ! Bradford(Bob) and welcome to the boards !

What you are asking has been kicked around a lot , and there seems to be two very distinctly divided camps on this topic....slabbing a coin or keeping it raw.

 

The very answer you seek is going to be based on what your intentions for purchasing these coins were in the first place , which you failed to mention .

 

I agree with all the answers that the fellow members have tossed out there for you , as they are all correct to each of their respective points of view.

 

I am not sure what your intentions are , yet based on what you asked ( is there any advantage/greater value = monetary worth vs safekeeping) and what you stated (you bought at least 5 of them....we don't know the purchase reason...gifts...investment...pick out the best sell the others ...etc...I'm guessing that you had purchased 5 on a whim , possibly to re-sale for break-even or profit in order to keep one better example- again just a guess , so kinda worthless cipher here)....and that leads to my Dos Centavos (2-cents).

 

I would only slab the one that you feel is the best pick , IF , if you are trying to build a registry competitve set or plan on keeping it and want a holder to protect the coin from future damage.

 

As far as the money issue.....There are a few dealers that peruse this board and have commented several times how they had to submit untold numbers of coins to get any return of perfect 70 coins , and barely made anything on the top-end to justify the expense other than to have a supply of these top coins for stock for the big-spenders that have a standing buy list for them.

 

Let us know a little more about your intention and you'll get better answers to the general question . I do believe that Greg (Gmarguli)gave the best advice if you are working on a competitive set...let someone else go through the expense and trouble to ferret out the high-end 70 coins then buy them from them...yes it will cost a little more , but in the long run , it will actually work out to less than you spending a fortune buying and sending in enough coins to finally get one at that high grade. My average on commems backs this up ....I might get two 70's for every 10 coins submitted , with the remainder being 69 on moderns- fresh from the mint. This has been a good average ( for me, not a dealer) because I don't even bother to send in anything that I feel would grade less than 70 and am only hitting avg 20 % and would be way less if I sent in everything .

 

What Viktor (EZ E) is agreeing with what TerrapinWil says is also a point I follow too.....The ASE's are pretty much great the way they are , most of the ones I have gotten look 69/70 from the mint and do not require grading or slabbing as they are , so mine are all raw ( except the ones that I've gotten from the collector's society and NGC functions) . The mint holder has been good enough so far to keep my ASE's safe from damage .

 

Bottom line , from what I can barely gather from your question....I'll have to side with everyone else and say leave them alone as they are . - JOHN

 

PS , Bob , until two years ago , I didn't know what a slab was ...I amassed a heap of coins for years , and thought the slab was just a fancy high-dollar plastic holder and who would need or want that? Since that time , however , I have been educated , here , on how to best put the holder to use for my needs , and what coins not to put in holders and keep raw to enjoy out of the 'slab' .

-but to each , his own . You should decide based on your goals...which you did not state in your question.

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What do you mean by "advantage"? What are you looking for?

 

If they are for your collection, I'd suggest buying them already slabbed in the grade you want.

 

If you are looking to make money on them by slabbing and reselling, then think long and hard about it. You're going to need a PF70 to make up for the losses you're going to take on the PF69s.

 

DITTO!

 

Chris

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Just a different point of view (actually in two thoughts).

 

Assuming you are going for resale and that you will get at least one 70 out of the lot, I say have them graded. Generally speaking, slabbed coins will go higher than raw coins.

 

If you are building a Collector's Society registry set, you have to have NGC/PCGS slabbed coins.

 

But I do also agree with the responses previously made.

 

Michael

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Assuming you are going for resale and that you will get at least one 70 out of the lot, I say have them graded. Generally speaking, slabbed coins will go higher than raw coins.

 

Assuming he makes 1 PF70 and current eBay selling prices stay the same, figuring in eBay & PayPal fees, he will make $32.20 on the PF70 and lose $15.64 on each PF69. That's a net loss of $30.36.

 

He will need to make 2 in PF70 to make money. Will 2/5 (40%) of his coins grade PF70? If you look at the pop report, you'd say yes, but they are skewed and I'd guess no.

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If you look at the pop report, you'd say yes, but they are skewed and I'd guess no.

 

What's the current pop (or percentage) of proof ASEs that grade 69 and 70? Is is similar for 2005 and 2006?

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If you look at the pop report, you'd say yes, but they are skewed and I'd guess no.

 

What's the current pop (or percentage) of proof ASEs that grade 69 and 70? Is is similar for 2005 and 2006?

 

For the last half of the 90's it's about 10-to-1. In 2000 it starts getting a lot closer, maybe 5-to-1. In 2005 it was 1.4-to-1. In 2006 it's way too early to tell as there are so few listed in the Census, but it's currently at 1.16-to-1.

 

What that doesn't take into account are all the lower grade coins (not too many in the Census) and the PF68s and below that were returned unslabbed from the bulk grading.

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[PF, not MS. You can only buy the MS from the mint if you want a truck load of them.

 

Like...Whateverrrrrr.... rolleyes.gif

 

Says the guy who had me submit a coin for him at the show. poke2.gif

 

Yeah, but I'm on a mission to keep these TPG's in business doing REAL coins. Unlike you who burdens the poor graders over there with 10 zillion state quarters every week. poke2.gif

 

jom

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Quote: Yeah, but I'm on a mission to keep these TPG's in business doing REAL coins. Unlike you who burdens the poor graders over there with 10 zillion state quarters every week.

 

 

Gosh jom…you don’t think Eagles and State Hood Quarters are worthy of grading and collecting. You should be glad for the Eagle and State Hood Quarter collectors and dealers. Do you want them collecting gold Saints? confused.gif

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Says the guy who had me submit a coin for him at the show. poke2.gif

 

Yeah, but I'm on a mission to keep these TPG's in business doing REAL coins. Unlike you who burdens the poor graders over there with 10 zillion state quarters every week. poke2.gif

 

jom

 

I'm sure that $65 will go a long way. I hear that Mark Salzberg was so excited at all the money you dropped at NGC he bought Ferrari's for all the graders.

 

ferrari550_23929.jpg

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Unlike you who burdens the poor graders over there with 10 zillion state quarters every week. poke2.gif

 

I think you've mistaken the real business of the TPGs.

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If you look at the pop report, you'd say yes, but they are skewed and I'd guess no.

 

What's the current pop (or percentage) of proof ASEs that grade 69 and 70? Is is similar for 2005 and 2006?

 

For the last half of the 90's it's about 10-to-1. In 2000 it starts getting a lot closer, maybe 5-to-1. In 2005 it was 1.4-to-1. In 2006 it's way too early to tell as there are so few listed in the Census, but it's currently at 1.16-to-1.

 

What that doesn't take into account are all the lower grade coins (not too many in the Census) and the PF68s and below that were returned unslabbed from the bulk grading.

 

Thanks, that would account for the lower prices for 70s on the recent coins. I was under the impression they were $200 coins. You think NGC has more incentive to give out 70s now that they charge extra for bulk graded 70s?

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If you look at the pop report, you'd say yes, but they are skewed and I'd guess no.

 

What's the current pop (or percentage) of proof ASEs that grade 69 and 70? Is is similar for 2005 and 2006?

 

For the last half of the 90's it's about 10-to-1. In 2000 it starts getting a lot closer, maybe 5-to-1. In 2005 it was 1.4-to-1. In 2006 it's way too early to tell as there are so few listed in the Census, but it's currently at 1.16-to-1.

 

What that doesn't take into account are all the lower grade coins (not too many in the Census) and the PF68s and below that were returned unslabbed from the bulk grading.

 

Thanks, that would account for the lower prices for 70s on the recent coins. I was under the impression they were $200 coins. You think NGC has more incentive to give out 70s now that they charge extra for bulk graded 70s?

 

Nope.

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let me asks you something if you should get one of those 2006 proof silver american eagles graded proof 70 dcam pcgs

 

what is the coin wqorth in the holder?

 

if you break the coin out of the holder waht is it now worth??

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I'll throw in my 2 cents: There is a larger contingent of people who collect proof American eagles (in any metal) raw and in the original Mint packaging than slabbed. In the long run, unless the coin is a PF70ucam, then it will gain/hold more value in the original packaging than in a TPG slab.

 

I see only one good reason to slab these coins: protection from handling and the elements over time. Still, one must be careful since the seals on slabs are very easily broken and the "elements" can damage the coin therein.

 

Hoot

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Are the prices listed in the PCGS price guide representative of PCGS slabbed coins or raw coins? 893whatthe.gif I always assumed they were for PCGS slabbed coins and based my buying decisions on that presumption.

 

Either way, the prices listed in that guide have always seemed to be inflated to me, especially for NGC slabs, sometimes 4:1 or higher. Christo_pull_hair.gif Is this the true case for slabbed coins between these two TPG's? What about true auction prices? Are they reflected in the PCGS guide and if not how do those prices further skew the prices in that guide? frustrated.gif

 

If the prices are for slabs, what is the best way to judge the retail value of raw coins?

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Are the prices listed in the PCGS price guide representative of PCGS slabbed coins or raw coins? 893whatthe.gif I always assumed they were for PCGS slabbed coins and based my buying decisions on that presumption.

 

Either way, the prices listed in that guide have always seemed to be inflated to me, especially for NGC slabs, sometimes 4:1 or higher. Christo_pull_hair.gif Is this the true case for slabbed coins between these two TPG's? What about true auction prices? Are they reflected in the PCGS guide and if not how do those prices further skew the prices in that guide? frustrated.gif

 

If the prices are for slabs, what is the best way to judge the retail value of raw coins?

 

The prices listed in the PCGS Price Guide are "retail prices" for PCGS graded coins. 27_laughing.gif In reality, the prices are frequently wrong and to the very high side. They are set by dealers who sell this stuff. If you knock 1/3 off the listed price, you're probably more in line with reality. However, the prices are not just wrong to the high side. I've seen coins listed for $10 that you couldn't touch for 100x that.

 

The best way to judge raw is to look in the Greysheet, Heritage auction archives, and eBay sales.

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