Are you buying any 2011 Proof American Silver Eagles?

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Pablo
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Are you buying any 2011 Proof American Silver Eagles?

http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=16212&langId=-1&parent_category_rn=10111

They go on sale Thursday June 30th at 12:00 Noon, for $59.95 with a limit of 100 per household.

I'm going in for two, just to keep as souvenirs.

Are you purchasing any proof eagles, and if so, how many? And are you going to keep them for investment or souvenirs, or flip them on ebay?

Edited by admin on 11/08/2014 - 06:09
HappyNow
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Proof quality won't get much premium on selling

Proof quality is really about ensuring a good-looking coin.    Owning 1 or 2 is good for show and tell.

In terms of holding on to 1 oz of silver the regular ASE is likely the better vehicle.

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SilverFocker
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Just for my collection

I get proofs for my own collection, just as I do for graded 70 coins. I don't suggest going all out, but the bottom line is its another oz, its just a better looking oz, an oz's is all that matters.

Pablo
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I can see the ebay angle, but why would you hoard these?

Yes the reason I was asking is because apparently, like last year, some people are hoarding these. I'm going to get my two just to say I have them. (I will probably leave one unopened and use the other for show and tell.)

I know some people get the 100 limit of them to flip on ebay; historical auction prices from last year shows you could make $10 to $20 per coin on ebay. You'd have to front 6k though.

But what I don't know is, why anyone would need to hoard these. I did overhear at the coin shop some old lady was asking them about trying to buy up 1,000 of them for some reason. Seriously, someone like 85 years old walked right up there and wanted to place an order for 1,000 proof eagles. That's a $26,450 premium over spot - why would you do that?

PaPaSpeed
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I don't even like paying

I don't even like paying 3.50-4.00 premium for Eagles, but I do. I think the number of ounces is what will count in the long run. Get as many quality (easily recognizable) ounces that you can get for your money. Conventional Eagles/Maples are good enough for me.

HappyNow
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Pablo wrote: Yes the reason I

Pablo wrote:

Yes the reason I was asking is because apparently, like last year, some people are hoarding these. I'm going to get my two just to say I have them. (I will probably leave one unopened and use the other for show and tell.)

I know some people get the 100 limit of them to flip on ebay; historical auction prices from last year shows you could make $10 to $20 per coin on ebay. You'd have to front 6k though.

But what I don't know is, why anyone would need to hoard these. I did overhear at the coin shop some old lady was asking them about trying to buy up 1,000 of them for some reason. Seriously, someone like 85 years old walked right up there and wanted to place an order for 1,000 proof eagles. That's a $26,450 premium over spot - why would you do that?

OK now I see why you are asking.

There will always be some people who are convinced that an item like this has more value.   They might still be buying Savings Bonds too!

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Swing trade indexed ETFs. Long physical gold, silver, and 1 miner.

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