A question of numismatics...

[Devil Soundwave]

http://cgi.ebay.co.uk/20-pc-1-1993-Silv ... 230b8758ec

I just spied the above listing on eBay for 20 1993 Silver Eagles which are all graded and certified as MS69 or above.

BIN price is a cool $9180, which works out to $459 each - so far above spot it's not even funny.

Now I understand the point and desirability of, say, a MS69 Morgan from a rare date; and naturally it should command a premium; but I really don't understand the point of graded bullion coins.

For one thing, the Eagle has much the same design every year; for another; surely grade is pretty much irrelevant for bullion coins as they are designed to be a store of metal value rather than a collectible coin in and of itself; surely?

Under what circumstances would it make *any* sense to spend $459 on an ASE?

I guess it depends upon what gives you thrills, but surely a mass-produced non-circulation item doesn't really cut teh mustard as far as numismatic collectors are concerned?

Thoughts?

[highroller4321]

ASE should never be boughten for numismatic purposes in my opinion.


Plus if you do decide to get into ASE with numismatics there is a tiny market for them.

[coppertone]

I never pay for numismatic value, for me, metal content is king. I do ocassionally receive coins that have numismatic value (for which I haven't paid for) but I have yet tried to resell and value add to my purchase.

[beauanderos]

It would be quite unlikely for any numismatic premium to increase proportionately to the actual gains in bullion. As silver rises that premium will shrink, and so will the buyer's pool for such items. If TSHTF who in their right mind would pay for one extra shiny ASE when they could more or less get 16 for the same price? The market for slabbed coins could vaporize under such a scenario. And... there is no scarcity of such slabbed ASE's. Caveat emptor

[Devil Soundwave]

I agree completely.

I persoanlly often walk the line between numismastic and bullion with my silver purchases due to what is available at a reasonable price to me here in the UK; often purchasing the likes of 1968 Olympic Mexican 25 Peso coins or Austrian Maria thalers rather than the more conventional bullion rounds such as Maples or ASE; I was just wondering if anyone here actually saw any value in graded bullion coins (I don't really see the point). Seems there IS no point.

[wagsthadog]

Hi there-

Buy what YOU like.

wags

[Metalhead]

Hi there-

Buy what YOU like.

wags

AND, buy what you will someday like to sell.

[jasmatk]

http://cgi.ebay.com/1995-W-EAGLE-S-1-SILVER-NGC-PF70-ULTRA-CAMEO-/360316359914?pt=Coins_US_Individual&hash=item53e48754ea how about this one any takers

[Devil Soundwave]

Bargain!

12 grand! He's really taking the piss isn't he?!