Flawed Silver Eagles- what do you think?
 

Look at the marks on these 2007 silver eagles (top right). There were 4 in the roll with exactly the same flaw. At first I was mad that I got a defective or fake batch from the coin dealer. Now, I wonder if they have any extra value.

http://i207.photobucket.com/albums/b...s/ASE2007b.jpg

http://i207.photobucket.com/albums/b...E2007close.jpg

Any thoughts out there?

Re: Flawed Silver Eagles- what do you think?
 

I thought the same thing when I got my 08's before they stopped selling them in January. I read somewhere that the mint rejected hundreds of thousands of bad planchets, but then decided to use them because of the high demand for the coins.

At the very least, there are alot out there like that, but you never know what they will be 10-20 years from now.

Re: Flawed Silver Eagles- what do you think?
 

+1

especially if a story starts to build around the artifact (ex 2008 has 2007 back).


You wont lose by holding on to 4 "defectives"


T

Re: Flawed Silver Eagles- what do you think?
 

I would send them in for exchange for unflawed....they appear struck thru.

Piece of grease on die probably....not rare error variety or anything, just defective.

Re: Flawed Silver Eagles- what do you think?
 

Worthless.....I'll give you $5 for each coin just so you don't loose everything.

:D

Re: Flawed Silver Eagles- what do you think?
 

I'll do one better.

I'll give you what they are worth.

Spot.

These are after all bullion coins.

Always have been, always will.

Some day those that have been duped by the mint, the grading company's, et al.

Will realize that they've been suckered into believing that SAE's, GAE's and PAE's have something to do with True Numismatics.

O.K., there I finally said it!

Maranatha,

:smile:

Re: Flawed Silver Eagles- what do you think?
 

Agreed. I don't know how something of recent make and can be easily purchased near bullion prices can have numismatic value. These SAE are not rare. They are not old. Yet people here treat them with gloves and are afraid to open a monster box, as if you couldn't find a SAE in every dealership. As if there weren't millions of SAEs produced. As if they weren't just made recently. As if you couldn't get another brand new monster box tomorrow.

There is nothing scarce about these coins. They are made specifically as a bullion coin. The design and lettering was made to guarantee that they are 1 oz. pure silver, nothing more. This guarantee can have some value, but not numismatic value. Bullion is bullion. I buy SAEs because they are silver, just as I buy private silver bullion coins. I don't buy because I think they are rare or have value outside of the silver and guarantee. If I wanted a true collectible, I'd buy a Morgan, which can be more than 100 years old. At least that has age and history to it. I doubt that most of you will live for another 100 years, and even so, that Morgan will be 200 years old by then.

Re: Flawed Silver Eagles- what do you think?
 

The marks looks like it could have been produced by excess grease on the die. I sold a similar looking one on ebay for 40 bucks and got a glowing referral. People do buy and collect them for a premium. Though numismatics consider them of poor manufacture. I have a whole tube of 2002's that have a small but very noticible pit in the exact same place. I may put them on ebay maybe not. It seems when POS goes up then the prices on these mistake coins go down or hold steady. When POS goes down then they seem to go up in price. Who knows, my mind blows thinking about POS!!

su

Re: Flawed Silver Eagles- what do you think?
 

Thanks SilverUno.... I was thinking the same thing. There may be a nice premium for the unusual nature of these. It does look like a mistake from the mint.

Thanks all you other fellow GIMers.... it is nice to know that some of you would gladly give me a couple dollars for these worthless pieces of .999 silver. :wink:

I will let you know what happens... I have never sold anything on eBay before.