getting in to numismatics

[chad]

i won some slabbed sees from my uncle last weekend. since then, i have been trolling bay a lot, buying slabbed pcgs ms70 saes when i can find them around $65 delivered. i have bought 7 so far. with the 5 i won, i'm now up to 12 of them.

from what i have read, the pcgs first strike thing is a total scam. whatever, i guess, they are all ms70, and for $65 or so i don't think i can wrong.

kind of cool, i hope to finish up a box of 20. apmex sent me a plastic pcgs 20 coin holder box awhile back as part of the packaging for some morgans i bought. trying to fill it up and stay it away.

i LOVE peace dollars, so i ight try and fill up another box of ms64 next, then maybe some morgans.

anything to look out for or suggestions? i have heard ngc does not carry the premium pcgs does, so that's what i'm doing for now....

[mamboni]

Chad,

Not to rain on your parade but I think graded bullion coins is a bullshit investment vehicle. If you enjoy looking at and collecting them then that's a different matter and all power to you. But undersatnd that this is a speculator's market. I own a lot of SAEs, all purchased as monster boxes. Sometimes, I'll pull a roll out to examine the coins. I've never found a coin that wasn't perfect, even under 5x magnification. Now the graders will give you a laundry list of features they examine in grading the coin, all under magnification. They are looking for tiny imperfections, like a near invisable seam in the metal surface, or whatever. The thing of it is, I am no trained coin grader, but I'd wager that if I gave the same random SAE to five different graders I'd not get the same grade from each and likely there would be quite a spread. I've read that SAEs out of the box should grade minimum MS66, whcih isn't a desirable grade per se. If there is a different between an MS66 and MS70 then it is tiny and I for one cannot see it. I own an MS70 SAE (the guy begged me to buy it for $30 and I acceded) and I cannot distinguish if from my generic SAEs.

On a different note, as silver prices rise, premiums for "numismatic" bullion will compress. As silver prices fall, they expand. Going forward, I think bullion is a better investment. But, if you enjoy the collectable aspects of numismatic bullion and understand the speculative nature of the pricing, then by all means enjoy them. I think the SAE represent a happy medium and hedge, between generic silver bullion bars and rounds on the one hand and numismatic/collectable/graded bullion coins on the other, such as graded SAEs, pandas, and the like.

[madfranks]

I second what mamboni said. SAE's don't circulate, so there is really nothing special about a mint state example.

[chad]

yeah, i know, but this is my blow money. plus, the kids are getting a kick out of trying to find them for $60. they look kind of nice next to the fugly piles of ntr metals bars.

probably will only finish of my box of 20, something the kids can have when i'm gone to remember 2012 by. :D

[mamboni]

yeah, i know, but this is my blow money. plus, the kids are getting a kick out of trying to find them for $60. they look kind of nice next to the fugly piles of ntr metals bars.

probably will only finish of my box of 20, something the kids can have when i'm gone to remember 2012 by. :D

Getting the kids turned on the silver numismatics is a worthy endeavor - a excellent hobby that will teach them about true value and stay with them their entire lives. Kudos.

[chad]

Getting the kids turned on the silver numismatics is a worthy endeavor - a excellent hobby that will teach them about true value and stay with them their entire lives. Kudos.

my daughter, 9, is way in to it. she spent probably 2 hours yesterday trolling through ebay listings. she's learning about mint marks, and we're looking up the populations of the slab on the pcgs registry as well. she bought her first eagle saturday (a regular one) with chore money she saved up.