Buy 2009 Silver Eagle MS70? Advice please
 

I'm not a numi guy, just bullion.

Saw some 2009 silver eagles PCGS MS 70 and thought I might buy some.

$65 each.

I'm only in it for the profit. What do you guys think? Is there some $$ to be made here if I hold them a while.

I see the prices for them at other coin places and fleabay are a lot higher. Mostly $90-115.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

Simple don't buy them.

Modern bullion coins are just that bullion. Grading those coins is basically a scam.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

I'd stay away if I were you. There is a lot of hype behind slabbed modern bullion coins. There is nothing rare about modern bullion coins being in "mint state" condition. They are all mint state. None of them circulate. The grade books don't even list prices for sub-mint state grades on modern bullion, because there aren't any. You can spend $70 for a mint state SAE in a slab, or spend $20 on a mint state SAE without the slab.

EDIT - we discussed this topic on another thread a while back, click here: http://goldismoney.info/forums/showthread.php?t=343319

Re: Buy 2009 Silver Eagle MS70? Advice please
 

Stick with uncirculated SAEs if you want numismatic silver.

My apologies to those who appreciate numismatic coins :)

Re: Buy 2009 Silver Eagle MS70? Advice please
 

I agree with the others... Reasons

22 million+ sold (very very high mintage)
'09 Ag Eagle Sales

made for investors not collectors
"American Eagle Silver Bullion Coins are affordable investments, beautiful collectibles, thoughtful gifts and memorable incentives or rewards. Above all, as legal tender, they're the only silver bullion coins whose weight and purity are guaranteed by the United States Government. They're also the only silver coins allowed in an IRA."
American Eagle Silver Bullion Coins

Unless you are building a set, stick with raw.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

Simple answer, "NO!!"

Re: Buy 2009 Silver Eagle MS70? Advice please
 

Complete scam fools!
I have 2 monster boxes of ASE's and another 200 or so NEVER opened. Point is I could have them graded and they would all be >ms68 with many ms69's and ms70's. They have to be as they just came from the mint.
I won't have them graded because everyone knows they are a terrible investment as a numi. Numis are for people who love them and that is great but NOT for an investment.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

It looks like a lot of the responses are talking about graded coins in general here not specifically, an MS70.

There seem to have been many more MS70's out there recently than there used to be. I'd consider it, but I don't know that I'd want to hold it long. Maybe check going prices on eBay and see how easily you can flip em.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

IMO... This is buying the slab and not the coin.
Modern bullion being struck with better engineered tools will realize greater
70s.

Coins that are not circulated(modern eagles) vs circulated(pre '33) is somewhat misleading when 'graded', in that modern PM coins are rarely touched and are not used as currency.

Pre '33 slabbed... okay, I can understand.
Modern... again, unless building as set for specific reasons(gifts, date runs) be very careful!

Re: Buy 2009 Silver Eagle MS70? Advice please
 

No!

Unless you have a son, daughter, or God child born this year and want a cool keep-sake/reminder of the year, that has a chance at a better return on investment than a Savings Bond will have 20 years from now.

If you have a need to spend the money on something modern, spend it on anything with a W Mintmark (and preferably in a Proof) And, if it must be slabbed: only PCGS, NGC, or ANACS.

A lot of good advice on this thread - heed it and fight the rookie urge to buy a Non W Mintmarked MS70 Bullion coin in hopes it will be a HIGH FLIER one day - It won't. This may help you understand it better: a dealer (or someone with money to burn) buys in bulk (Monster boxes). Sends them on into PCGS, sends them on in as what's known as a, "Slow-Boat" submission (Because they take about 30 days to get graded) or AKA Bulk Submission for us lay people. With this type of submission PCGS charges 10 smacks per coin and only five for coins that don't make your minimum grade (Usually specified at MS69). On average, one out of every ten to twelve coins comes back a 70, and now, with the advent of the PCGS BU roll cases, dealers are simply having the 68 and lower graded coins packed into them. So, it's a win for them and not much method to this. I hope this helps show how NON-NUMISMATIC and business-like the MS coins are.... Or, many people have a huge attraction to new construction, and seem to want or need to pay extra for a newly built home, but only find that the whole house was built very poorly 1 - 2 years after the builder has packed up and fled the scene of the crime. Bullion coins are like new homes - no character yet they are shiny. BUYER BEWARE on both!

In short, No new homes and No MS 70 Pipe dream coins... lolol

Lastly, I only wish I found this site sooner than 2005, this way I could have saved money on a butt load of worthless MS submissions myself. Good-luck.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

I'd figure out what the lowest price on ebay is for an MS70 and then see if you can buy them for $65 and flip them and turn a profit after expenses.

If you can make enough to make it worth the hassle, then go for it.

Sure, modern slabbed bullion is a scam, but there is nothing wrong with making a buck at it if you can.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

$65 is dirt cheap for that grade from that mob...get em.

Re: Buy 2009 Silver Eagle MS70? Advice please
 

I just checked ebay and I'm noticing the prices are quite high. Seems silly to me, but to teach his own, and if you can flip it to the next guy, there you go.

I've also noticed that many of the ebay auctions advertise the fact that the coin was minted at the US West Point Mint. I'm Canadian so I'm not too familiar with your mints in the U.S., although as a child my family did visit Washington and I had the chance to tour the mint there, which I remember to this day. I did a bit of research and it seems the West Point mint is the newest U.S. mint, opened in 1988. Can someone tell me why that particular mint is coveted over the others?

EDIT: I just checked Wiki and they say "Today all American Eagle series proof and uncirculated bullion coins in gold, silver and platinum are produced at West Point, along with all gold commemorative and a few silver commemorative coins." Interesting.