eBay

hajnick · ‎04-30-2023

I found out within the last 24 hours that Community Inputs are generally invaluable. Here is my dilemma: I am lightening up on tangible ‘stuff’ by selling some coins. I am finding out American Silver Eagles are highly popular while silver proof sets and commemoratives are down in the dumps. Actually, ASGs have significantly less pure silver weight than an annual silver proof set yet they sell for $35 a piece versus $24 for the silver proof set even though a silver proof set silver content is 1.5 times the silver content of an ASG. I still have not figured out why. Dealers have told me “we are not interested in ANY proof sets”, while they are devouring the ASGs and the BU Morgan’s. Inquiring minds want to know. I want to understand the logic behind this anomaly. Help! Nick

dnasilver · ‎05-01-2023

You need to compare like items. ASG's are bullion coins that are not used in commerce.

Commemoratives: are you talking Classic era = 1892 thru 1954 or New "modern" era = 1982 thru current? It makes a difference in understanding the marketplace.

Proof sets used to be silver or gold only and sell for high dollar values graded or even ungraded. A 1936 Silver Proof Set was issued at $1.89 and today sells for Approx 6K which any coin dealer would buy if given the chance Mintage=3,837. There are even older proof sets available occasionally. In 2015 just 8 years ago a 1859 Gold Proof Set sold for $851,875. Todays Proof sets are sold in non-silver and silver. Silver Proof sets do not sell for $24 even current years. You can look at sold ones on eBay and they do not sell for what you claim. Are you thinking it is a Silver Proof set when it is actually a non-Silver Proof set?

Look at the amount produced by the US Mints. Mintage weighs heavily on price and determining rarity just as does the Mint itself. Are the coins graded or not? What is the grade? There are many variables that determine pricing. Prices go up and down as market demands. Age matters in the case of coins.

Are you talking about original Morgan's produced from 1878 thru 1921?

Are you talking to Coin Dealers or Bullion Dealers? Like we said before in your other post, we have not experienced what you claim. But we deal in Commerce coins mainly 99% and prior to 1965 and not massed produced Bullion coins or non-silver commerce coins produced from 1965 to current. Coin Dealers have little interest in bullion coins. Bullion dealers have little interest in buying back what they already sold for a nice tidy sum. You have to hold bullion coins for years and watch the commodities markets to determine when to sell. Who are you trying to sell to? Dealers will not pay market price. They are in the business to turn a profit.

We are trying to answer your questions but find it difficult with the questions asked. There are many variables that are left out of your questions. We have been in numeristics successfully for 50 years.

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dbfolks166mt · ‎04-30-2023

Simple economic supply and demand.

hajnick · ‎04-30-2023

I do not understand why ASE are so much more in demand than Silver proof sets even though there is less silver content in ASE than in proof sets and ASEs sell for a lot more money. Nick

richard1rst · ‎05-01-2023

Maybe because it has nothing to do with the silver content. The rarity of an ACTUAL coin versus the commonality of a flood of proofs.

downunder-61 · ‎05-01-2023

Maybe try posting here:

https://community.ebay.com/t5/Coins-Paper-Money/ct-p/1114

More informed in the coins area, good luck

********************************************************************
I have been imported from Australia and this is my posting ID

dnasilver · ‎05-01-2023

You need to compare like items. ASG's are bullion coins that are not used in commerce.

Commemoratives: are you talking Classic era = 1892 thru 1954 or New "modern" era = 1982 thru current? It makes a difference in understanding the marketplace.

Proof sets used to be silver or gold only and sell for high dollar values graded or even ungraded. A 1936 Silver Proof Set was issued at $1.89 and today sells for Approx 6K which any coin dealer would buy if given the chance Mintage=3,837. There are even older proof sets available occasionally. In 2015 just 8 years ago a 1859 Gold Proof Set sold for $851,875. Todays Proof sets are sold in non-silver and silver. Silver Proof sets do not sell for $24 even current years. You can look at sold ones on eBay and they do not sell for what you claim. Are you thinking it is a Silver Proof set when it is actually a non-Silver Proof set?

Look at the amount produced by the US Mints. Mintage weighs heavily on price and determining rarity just as does the Mint itself. Are the coins graded or not? What is the grade? There are many variables that determine pricing. Prices go up and down as market demands. Age matters in the case of coins.

Are you talking about original Morgan's produced from 1878 thru 1921?

Are you talking to Coin Dealers or Bullion Dealers? Like we said before in your other post, we have not experienced what you claim. But we deal in Commerce coins mainly 99% and prior to 1965 and not massed produced Bullion coins or non-silver commerce coins produced from 1965 to current. Coin Dealers have little interest in bullion coins. Bullion dealers have little interest in buying back what they already sold for a nice tidy sum. You have to hold bullion coins for years and watch the commodities markets to determine when to sell. Who are you trying to sell to? Dealers will not pay market price. They are in the business to turn a profit.

We are trying to answer your questions but find it difficult with the questions asked. There are many variables that are left out of your questions. We have been in numeristics successfully for 50 years.

farmalljr · ‎05-01-2023

@hajnick wrote:
I do not understand why ASE are so much more in demand than Silver proof sets even though there is less silver content in ASE than in proof sets and ASEs sell for a lot more money. Nick

Currently, bullion is in great demand. Yes, people have always collected coins, but coin collecting does not have the fury to collect that bullion does.

Everyone buying bullion can understand what a troy ounce is and since they are stamped with the weight, anyone can figure out what they are buying, Coin collecting is like stamp collecting. You have to be really into the hobby to understand it.

In other words you have a bigger buyer base for bullion then coins. Right now, bullion is hot and people will pay up to buy it. Some that collect coins, buy bullion. Most that buy bullion, don't collect coins. I'm in the camp of doesn't buy coins.

hajnick · ‎05-01-2023

Thank you very much for the explanation. You must know your stuff. I have a distinct insight now into the issue because of your brilliant explanation. In a not shell, you explained why there are lots more buyers of ASEs because they are more comfortable to buy by the non-numismatically oriented persons, while commerce silver proofs and commemoratives are not exactly bullions and are purchased by passionate coin collectors only. I do understand the logic now, thanks to you. I have been selling to less than a handful of friendly and honest dealers in my area (literally only two) and I have learned to avoid dealers with workers that cannot distinguish coins from their as_h___s. Thanks again, God bless. Nick

deltilogical · ‎05-01-2023

Recently I've sold some silver and it was informative. I found coin shows will provide the best price. Storefront coin dealers need to pay rent and employees. I have a reliable coin dealer I buy from and now sell back to.

The Eagles have been selling with a premium, above other country's bullion. While there was supposedly a very large purchase during the lockdown that drove up prices, I understand the Eagles can also be used for a Precious Metal IRA, and only US silver can be used for those. There is also an explanation that physical silver has a premium above the paper silver (paper trading is is used to determine the spot price).

It pays to shop around. The Maine shop that tried to buy my 90% for $13 face when the spot price was $28 give me a pain - and they wanted to pay me with a check on top of it!

I found dealers were interested in my 90% silver 1964 and back. 90's and forward silver from proof sets sold for a little less than the pre1964, but in a couple cases the buyer just didn't want that material even to send to the melter. 99.9% of modern silver proof sets will sell as bullion. Often, due to the price of the half, breaking up the set and selling singly will bring more profit. My trusted dealer will buy my silver proof/mints sets from me but there is no premium for the packaging - he's just going to break them up.

hajnick · ‎05-01-2023

@deltilogical wrote:
Recently I've sold some silver and it was informative. I found coin shows will provide the best price. Storefront coin dealers need to pay rent and employees. I have a reliable coin dealer I buy from and now sell back to.

The Eagles have been selling with a premium, above other country's bullion. While there was supposedly a very large purchase during the lockdown that drove up prices, I understand the Eagles can also be used for a Precious Metal IRA, and only US silver can be used for those. There is also an explanation that physical silver has a premium above the paper silver (paper trading is is used to determine the spot price).

It pays to shop around. The Maine shop that tried to buy my 90% for $13 face when the spot price was $28 give me a pain - and they wanted to pay me with a check on top of it!

I found dealers were interested in my 90% silver 1964 and back. 90's and forward silver from proof sets sold for a little less than the pre1964, but in a couple cases the buyer just didn't want that material even to send to the melter. 99.9% of modern silver proof sets will sell as bullion. Often, due to the price of the half, breaking up the set and selling singly will bring more profit. My trusted dealer will buy my silver proof/mints sets from me but there is no premium for the packaging - he's just going to break them up.

Thank you very much for sharing. Reputable dealers have been telling me that they have a room full of unsold modern silver proof sets that keep piling up and they are not interested in buying more. American silver Eagles, Morgan BUs, Peace, Franklins, Liberty BUs, older proof sets (pre-1957), and all gold are moving like hot cakes. I have stopped selling items that are not popular. Forget about the clad proofs; break them up and spend the money. I am keeping my commemoratives. I am also a stamp collector. These bring as much return on your money as the money spent on playing golf or going on a cruise. Best, Nick

dbfolks166mt · ‎05-01-2023

I do not understand why ASE are so much more in demand than Silver proof sets even though there is less silver content in ASE than in proof sets and ASEs sell for a lot more money. Nick

Pretty easy to understand there is simply a lot more demand for the ASE's despite the silver content. You could also ask why a 1893-S MS-67 Morgan silver dollar sold for just a little over $2m in 2021 and it has a lower silver purity than the ASE's.

deltilogical · ‎05-01-2023

I'm inclined to keep the clad coins from the sets if I break them up and not spend them - they are bright and shiny!

hajnick · ‎05-01-2023

Absolutely, I agree. I did not have the heart to go to the bank and dump the shiny coins in the change counter machine. Solution: I took the shiny coins in their plastic (I threw away the darn boxes), and sold them to my likable and friendly dealer. Next visit, I saw a customer actually buying them by the dozens! Interesting! Nick