Modern Silver Eagles

[Proudtoown]

I am new to coin collecting and have been thinking of putting a modern silver eagle coin set together in the grade of 70. Is this a good set to put together in that grade? Is the prices reasonable? I have a budget of $200 per month to buy coins with. Would it be smart to buy these coins or just save the $200 a month and buy a really great coin from another series once a year? Please remember, I am a new collector and do not know grading as of yet so certified coins is the way for me at this time.

[MunkyMan95]

MS70 coins can get pricey. Buy only NGC or PCGS. $200 a month could likely get you one, maybe 2 common coins, then you'd get down to maybe 1 coin in rarer dates.

[MAULEMALL]

Welcome to the boards.

[TomB]

It's a good idea to stick with NGC or PCGS certified coins, as has already been stated, but you will find that NGC and PCGS have a slightly different interpretation of what constitutes an MS70 or PF70. NGC gives out the MS70 and PF70 designation more frequently than PCGS, which by itself does not tell you which grading company is correct, but it certainly has an effect on the market price of a coin in a PCGS or NGC holder.

 

My personal suggestion, if you are really interested in this series, is to buy MS69 or PF69 coins because they are far less expensive and the quality is essentially identical.

[zrlevin]

Stick with MS or Proof 69's. They are much cheaper and you won't be able to tell the difference.

 

Zach

[Proudtoown]

What about for investments to be sold 30 years from now? Is this a good set to work on or should i be putting the money to something better?

[TomB]

If you are simply looking for an investment opportunity then I would put your money into something other than coins. If, however, you are looking to build a collection and your hope is that the value grows, then you are in the same boat with the rest of us and if any of us could see that far into the future that clearly we would all be rich by now.

 

Seriously, one thing to keep in mind is that there is no guarantee that PCGS, NGC or any other grading service will still be viable 30 years from now, and even if they are, will the grading scale still be 1-70? There has been recent talk, mostly from PCGS, that they would like to expand the scale to 1-100. If that is done, will all MS70 or PF70 coins automatically become MS100 or PF100? If not, how will the value be hurt if your MS70 or PF70 now becomes an MS99 or PF99?

 

I keep two things in mind when I buy coins. The first is to buy what I like with money I can afford to lose and the second is to buy coins that I believe are worth the same regardless of whether or not they are slabbed.

[zrlevin]

To a new collector, I would reccomend a type set to figure out which series you like the most. A well matched type set with problem free coins is (in my opinion) a good investment and alot of fun. Check out buying a Dansco 7070 Type coin album. You could buy certified coins, and crack them out for the album, if that would make you more comfortable. If you want, I have a list of all of the coins in the album so you could keep your coins in their little coffins if you want. Let me know and I will post it for you.

 

Hope this helps,

Zach

[MunkyMan95]

To a new collector, I would reccomend a type set to figure out which series you like the most. A well matched type set with problem free coins is (in my opinion) a good investment and alot of fun. Check out buying a Dansco 7070 Type coin album. You could buy certified coins, and crack them out for the album, if that would make you more comfortable. If you want, I have a list of all of the coins in the album so you could keep your coins in their little coffins if you want. Let me know and I will post it for you.

 

Hope this helps,

Zach

 

 

A well put together type set opened my eyes personally to the many different kinds of coins out there. Good luck!

[Proudtoown]

The 200 per month is money allotted to buying coins, not really an investment, more toward building a nice coin set, but when I leave this world, I want my family to have something valuable and not just something that looks nice but any dealer in america would pass on buying. It is really hard for me because there are so many coins that do interest me, but then i see the prices on some of the coins and know that even saving 200 a month would take some time to aquire. The modern silver eagles are affordable for me, and I can pick them up now. However, they are just bullion coins.

[MunkyMan95]

A type set would be a great investment in my mind, even without the Dansco album. A slabbed set would be doubly great. Whatever you decide, good luck in your ventures!

[TomB]

I can relate to where you are at in your collecting experience. What worked for me was to spend two or three years buying coins slowly, I gave myself a budget of about $50 per month, and purchasing coins from a variety of series. At the same time, I read all I could about coins, this was just before the internet exploded onto the scene, and went to shows to see as many different types and "looks" as possible. Over time, I came to formulate my own plan, which has worked fabulously well for me thus far.

[djdilliodon]

While i do collect coins, it is mostly for melt value. I dont have alot of experience but i noticed Coins are kinda like baseball cards, some when they first come out just sky rocket in value and after time die down and are worth alot less. Much older rarer coins hold value and increase but again it all depends on the market. The buyer sets the value someone is only going to pay what they are willing. If you want to make a solid investment in coins my advice would be GOLD. It hasnt failed me yet since i have started and i have made plenty of money over time. Gold will always go higher and higher in value. In just the last year gold went up $160 an ounce and in the past 4 years $410+ an ounce! You also dont have to be picky grade means nothing when it comes to gold your investing totally on the melt value. Of course a highly graded will be worth more but your investing for the long run. In 30 years i just cant imagine what gold would cost but going by the previous 30 i would say it would be around $1200 plus an ounce but seeing the most recent rises I would say it should be ALOT more. I know there will be some that will disagree but this is just my opinion.

[Swest-migration]

I really enjoyed reading this post and am pretty much on a similiar quest.

 

I am newly back to coin collecting and my monthly amount can very from time to time. For pure spending, I am collecting Silver Eagle Proofs for several reasons:

 

1) The set it affordable but going up in value. Most coins, outside of a few key days, are completely reasonable.

 

2) I am using this experience to also learn about getting coins graded and examined. It is not much learning since they almost always will come back PF69. However, it is still good experience to buy mostly safe coins, send them in for a reasonable fee, and enjoy the experience of trying to get my own PF70. I haven't yet, but my eye for the eagles and what stands out get better and better.

 

This will help me and protect me in the future when I try other coins.

 

3) The set is completely achievable since it has a limited number of coins and will be continuing. So I really like that component of it.

 

4) I am assembling a set for myself, then a set each for my two boys. That way when they get older they can add to it and enjoy it as well.

 

So I think you picked a great way to start. I examined lots of entrys into the coin collecting and think Silver Eagles are the best for me. I will say that I am starting to look at some gold coins as potential investments, but I have a lot to learn there .

 

Good luck and enjoy! If you need any info send me a PM.

 

Swest