500 American Silver Eagles - Probably not 2018

500 American Silver Eagles - Probably not 2018
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#1

Eagle deal. PayPal accepted. Price @ $8177.50 appears competitive and there is no sales tax:

Eagles linky

APMEX (high price HQ admittedly) price, with PayPal, is $8812.50

ETA

Please note above price was at time I posted this. Price I paid was $15 higher and price is changing CONSTANTLY!!


#2

This is an automatically-generated Wiki post for this new topic. Any member can edit this post and use it as a summary of the topic’s highlights.


#3

Mods: If this belongs in Finance, please move thread. Thanks!

I’m in for a box, using my Freedom Credit Union 5% Visa card, saving thereby in the neighborhood of $400. I hope. This if everything works out, of course. I shall know for certain, one way or another, only in the fullness of time.

These silver Eagles, as best as I’m able to determine, escalate in value as they become older. The 2019s are not yet out, so these 2018s (I assume these will be 2018 coins since those are worth the least right now) are about to become a year older.

Like these more than the gold because value of each coin is vastly lower. In an emergency (dollar goes to hell) these should facilitate smaller purchases than would one ounce gold coins. And the fractional (fractions of an ounce) gold coins are REALLY expensive.


#4

For those not following your every post, this is NOT a Chase Freedom card (usually referred to as “Freedom”, while your card… few people have or know of and should not be referred to as “Freedom”).

Don’t know how much time you’ve spent on determining, but this is wrong. Their age has absolutely nothing to do with their value, as they’re basically traded at a fixed premium above the silver spot price. Their value goes up and down linearly with spot price, regardless of year. The only exceptions I can think of are error coins.

Better have enough bullets to protect your eagles.

Also, please be more exact with your thread topics. I made the correction to clarify this is about ASEs, as “Eagles” is ambiguous.


#5

Thanks. I edited to “Freedom Credit Union”.

Thanks for tip on age thing. Was just going by asking prices I was seeing. Prices for older coins appeared higher. Eagles ten years old, for example, were much more expensive than 2018 coins.

Agree on need for protective rounds. Have 'em. Am armed, as are most folks hereabouts. We are rural people. Thing is, I have no other silver or gold or precious metals of any sort. Thought it might be wise to own a small amount.

Trouble so far with charge to card. Possible denial. Working on it. Small credit union. No service at this hour . . . or on this day of week. Entire transaction may blow up if they denied charge as price likely will go up soon.


#6

This may be true of the price, as any specific year may be more difficult to find in large quantities, while the new ones are being minted and sold right now. But that does not mean the older ones are any more valuable than the newer ones – if you try to sell to a dealer, they’ll offer you the exact same amount for any year. Also in a SHTF scenario nobody will care about the year, and if anybody still cares about silver (I have doubts), they may not care for the markings on it. You may be better off with generic silver rounds (not minted by a government mint) that do not trade at a premium to spot, but basically trade at spot.


#7

Yeah, but the dilemma with all of this precious metals stuff, and a key reason I have remained out until now, is authentication. My opinion (right or wrong) is the silver Eagles will be more accepted in this regard, in future, than the generic silver stuff which, I concede, is less costly.

Anyway, at this point I am SOL regardless. My charge appears to have been denied. Really will not know until tomorrow. There is no service available on my card, nobody able to answer an inquiry, until the credit union reopens in the morning. Oh, well. It was worth a try.


#8

I have edited the OP to reflect that I actually paid $15 more than what the price was when I posted this deal. Also pointed out that the price of this item is changing CONSTANTLY.

ETA

Better news for me at Freedom Credit Union. Charge is now (finally) showing as “pending”. Maybe I will get my coins after all. :grinning:

Am happy camper.


#9

HA!! Joke on me. Price is going down, instead!

Oh, well. That’s life.:laughing:


#10

The deal is basically spot + $2 per coin. Price fluctuates with spot.


#11

It surely does. I could have saved over fifty bucks had I delayed my purchase until today!!

But I still benefited from a good price compared with what other sellers were and are asking for this same offering.

Did a crazy thing earlier today. I bought a SINGLE one of these coins. Cost me $21.21. Course price is higher when you only buy one coin at a time.

But purchase shown in OP will remain unopened for a variety of reasons. And I wanted to hold one of these coins in my hand, feel it, see it, and sort of have it around. I have never owned a silver eagle before. I like coins generally . . used to collect stamps but coins are much more durable and stable. Despite suffering a $50+ haircut in under 24 hours I remain happy with my purchase. Am not looking to sell any time soon.:grinning:

ETA

Just did the math. That monster box of 500 coins will weight in at over thirty-one pounds. That’s gonna be a modestly heavy stash of silver.:wink:


#12

That’s how it begins! Next year we’ll be reading about your complete certified collection of proof and uncirculated ASEs…

Weight is one reason to not hold a lot of silver.


#13

“Never say never”. But for right now I’m good. Remember I was starting from a zero base. Look upon this as a black swan counter. Almost surely will never NEED the coins and, also, they “eat” (one loses interest year after year on the money they cost).

But, for example, own a generator for when the power goes out . . which almost never happens. I’ve only really, seriously, needed that generator one time in the last thirty years. But I’m not selling my generator . . or my coins.

As for the weight, it’s another good reason not to buy additional silver coins.

Gold coins are a MUCH more efficient store of value and wealth. But I’ve never developed sufficient trust to buy gold coins I worry might not be authentic. The silver eagles, on the other hand, are hardly valuable enough for the Chinese, or other would-be fraudsters, to bother creating fakes.


#14

I don’t collect, but I think they’re neat. I bought one in late 2016 when Modern Coin Mart was having a promo (posted on fatwallet) and selling single 2016 Silver Eagles for $20 shipped (a great deal at a little over $1 above spot). I decided it will belong to my son and I will get him one every year. I know when I was sixteen, I would have thought it would be cool to have a Silver Eagle from every year I was alive (not technically possible since they started minting them after I was born). This deal isn’t useful for me, but it got me to check Modern Coin Mart’s site for the current price. It looks like pre-ordering a 2019 is $1 cheaper than getting a 2018, so I might have to take advantage of that deal.


#15

Gosh the price on these coins continues to decline. Oh, well.


#17

Are you in this as an investment in silver or as a way to pay for things if printed dollars become worthless? If the latter, following the price seems kinda silly. If the former, you didn’t really do your research.


#18

There are ways to make money trading these and similar coins, but, put bluntly, you’re out of your league. They aren’t good “investments” as they won’t necessarily increase in value over time.

That said, they are fun to collect since you can create a complete set for a relatively low price.


#19

I got some space-related rounds back around 2011 when silver was ~$20. From ebay around or slightly under spot. Felt good as it went to $50. Back at $14 now. They’re still pretty cool though that reminds me I should take them out some time to look at or maybe put a few on the wall. A plus for the “collectibles” are they’re lower quantity so it would be harder (impossible, with packaging etc anyways and also the tooling required) to ever counterfeit and they don’t tarnish because of a really thin coating… If they were counterfeited it would be obvious that there was way too many of ____ type. And silver is cheap (comparative to gold), so it would hardly be cost effective to even try to set up to counterfeit such small numbers of any given design.


#20

Explain please? I didn’t think there was any coating on the silver/gold coins…


#21

I was referring to “collectible” rounds, in this case some were also 0.925 vs 0.999. But I think the few 0.999 US denominated pseudo currency rounds may also have the coating.

Some I have with no coatings and some tarnish or are in plastic casings to prevent tarnish. Some of them have a thin clear coating. It mentions on this site that almost all after mid 1970s made by them should be tarnish-resistant.

Most of the “flown” space medals I have unfortunately (? It doesn’t necessarily look “bad” in most cases, just not shiny silver) are tarnished. Flown in parenthesis because basically they put a really small amount of flown metal into a huge vat of medal so… theoretically there’s a few atoms that have been to the moon (or similar) that are in the coin.