Any coin buffs? What makes silver from one year more desireable than silver from another year?
Submitted by LastAmericanStanding on Thu, 09/02/2010 - 11:38
in
For example, I have some 2007 silver eagles. Would they potentially be worth more than current production coins and why?
Is it simply the amount of coins produced that year (2007 was a low-production year... under 10 million produced) compared to other years? I mean, they are the same coin, after all and they're only a few years old so I don't see the 'collector' value per-se.
Any coin buffs?
1996 silver eagles are woth
1996 silver eagles are woth about 100.00 bucks because it was a very limited mint year. few coins were produced. I think there was one more year like that. a 2007 should not be worth mopre then a 2010 and vice versa.
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Silver Eagles
Current production Silver Eagles are typically much easier to get because the US Mint will produce as many as people want to purchase. Older coins are typically taken out of circulation by their owners and may be much more difficult to obtain. There is a very large range of mintages for each year with some coins being much rarer than others.
Check out the range of prices on APMEX:
http://www.apmex.com/Category/160/Silver_American_Eagles_Unc...
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Here is a good link to check on once in awhile
http://www.coinflation.com/
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When evaluating the value of
When evaluating the value of silver from different dates you have several things to consider.
Total supply of the product released and total demand. Silver content of course as well as the grade of the coin. Different years for example silver coins especially the ones that were in circulation, changed metal composition percentages.
Certain years for example 2006 they made a W reverse proof eagle ... you have to look at the product. If your not a collector, go with the mint state coins ... I pay something near spot price and get whatever year coins monex deposit company has. They are all the same over there. They don't deal in numismatics. They treat them as bullion.
Unless they are graded, or you pay to have them graded, they
have no numismatic value at all. They are simply bullion coins and you should accept no less than the going spot plus the average premium, nor should you pay more than that. (the average premium can be deduced from several online vendors and comparing to spot, usually about $2-2.50 per coin)
If on the other hand they are graded, and encased, then they are marketable for numismatic value based on their grading. In addition, more rare varieties will command a higher price in the same grade. So if you have a 2007 MS-69 and a 2008 MS-69, and the 2007 is only half the mintage of '08, then it should command a significantly higher price. (though not necessarily double)
There is also the issue of error specimens which can drive the price up further since those are considered automatically rarer than the general issues.
Your hunch however, in general terms is correct. There is NO collector value in silver eagles because there is not meant to be. They are not issued for circulation, nor in necessarily limited quantities. (like commemoratives)
Simple Answer, Supply And Demand !
The November 2010 coin prices, coin book lists a 2007 Silver Eagle at $22.60. { with no mint mark 9,028,036 were minted.}
A 2007W { W is the mint mark } proof at $59.00, only 821,759 were minted.
A proof coin has an extra shine on it and is usually encased in plastic to prevent scratches.
A 2007W Burnished un-circulated at $22.30.
690,891 were minted.
A grand total of 10,540,686 2007 Silver Eagles were minted.
beesting
The ones that are sold in the "monster" box would be...
...of the un-circulated variety?
I may not know the truth, but I know when I'm being lied to...
Not necessarily.
The mint really confused things with three varieties.
1 - Proof
2 - Uncirculated
3 - Bullion
I never really found the difference between 2 and 3 other than a "W" mint mark on the uncirculated variety and different mintage figures. But both could be obtained in a Monster Box. Neither was issued for circulation so both are technically "uncirculated." (as are the proof coins of course, but those have a mirror finish on the recesses and a frosted finish on the relief)
As far as I know, minting of #2 - uncirculated has been suspended indefinitely. They are only making #1 & #3.
I don't know about coins
but do you ever watch antique roadshow and there is always some really ugly object that turns out to be worth a million bucks. LOL
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I learned allot watching it.
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The numismatic value of the
The numismatic value of the coins is based on Supply and Demand, specifically, how many were produced.
The intrinsic value is the same. Silver is silver, regardless of what year the coin was produced, or even who produced it. The value of one year over another is based on its comparative rarity.
The value of an item to a collector is based on how many are available, and how many collectors want it. This is why coins that are sold as "collectors' items" will probably never be worth much. Everyone who buys them holds on to them, so they never become scarce.
In comparison, consider a 1916 D dime. 264,000 were produced, but how many are still around? And in what condition after 94 years? Another factor is, how many coin collectors are there now, compared to the year 1916.
So, the supply at the end of 1916 was 264,000. I can't tell you how many coin collectors there were in that year, but the number was much smaller than now.
Most of those coins were worn down in circulation. Some were lost. And probably some were destroyed. Those that have survived are worth thousands of dollars to collectors, if they are in reasonably good condition.
But the intrinsic value of that dime was identical to a 1964 dime. Both contained the same weight of silver.
:)
http://www.coinflation.com/silver_coin_values.html
.
"Wobbles but doesn't fall down" - weebles
Just collector's demand.
They aren't making the older dates anymore. Just the new ones.
So, collectors want to fill their collections out with all the dates, and that's basically the deal.
Low production dates are harder to get, so they cost even more than older high production dates.
Bingo!
Bingo!
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basically, the older the better
as long as the condition is maintained.
this rule of thumb will diminish if we ever get mass inflation, when only the silver will matter.
but collectors value older eagles more because they are more difficult to find.
That rule only holds for coins that circulated.
Silver Eagles never did. (not officially) So the odds are, most of them are still around in excellent condition.
Not so with circulating coins. Many were lost, buried and forgotten, worn beyond recognition, melted after wear for new issues, etc. That is why older issues are more valuable, not because they are older per se, but because odds are, they are more rare due to most of their fellow mintage not surviving. Of course, the better condition AND the older it is, the better as odds are, that even if a coin still survives, it isn't going to be in even 'good' much less 'uncirculated' or 'mint-state' condition. Add in a year that also had a relatively low mintage and odds are your surviving specimen is rare indeed and consequently worth even more. Then compound that one last time with an error strike and you just hit the jackpot.
U S Silver Eagles
are bullion and value is determined by the silver content and the current spot price.
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