American Silver Eagle Proof Coins: Here’s Proof Why These Coins Are Worth The Extra Cost
American Silver Eagle Proofs are in high demand right now. Many collectors have proudly put together complete sets of the series, that contains every single date obtainable.
When the most recent American Silver Eagle Proof was released late this past year, on November 19, 2010, it could be purchased for $45.95 through the U.S. Mint. Each and every household was strictly limited to buying a total number of one hundred coins.
Public demand ended up being very strong, to say the least!
In the first hrs subsequent to the coins release, the U.S. Mint suffered a variety of difficulties by clients who tried to buy from the website or even utilizing their toll-free number.
The proof silver eagle ended up being sold out by the end of December, having sold out quickly.
834,879 coins were purchased based on the most current sales record from the U.S. Mint!
Taking into consideration the fact that the premium that you pay is considerably above the actual spot price of silver, you might question the reason why the desire with regard to these coins is so high.
Were the proof versions really worth the extra amount you pay out?
I resolved to do a little investigating. . .
To start with, let’s examine precisely what tends to make this specific coin so exceptional.
1. Each and every coin is composed of exactly one ounce. of .999 fine silver.
2. If you glance carefully at one, you will observe immediately their particular astonishing splendour, extremely sharp relief, as well as a backdrop which is nearly mirror-like. They have a unique cameo effect due to their frosted, sculpted foregrounds.
3. To realize all of this fantastic splendor, the silver eagle proof coin is actually created by way of a specialised minting practice.
4. All this commences when a burnished silver coin blank is pressed, and then fitted together with unique dies.
5. So as to supply the detailed images the sensation of floating above a reflective field, it is then struck numerous times.
6. After careful inspection, the coins are ultimately sealed inside a protective plastic capsule.
7. Finally, they’re placed inside a stunning presentation case that’s covered in blue velvet. Inside, the case is lined with satin and includes an authenticity certificate that’s signed by the Director of the U.S. Mint.
Thus all that additional manufacturing expense, time, labour, energy, etc. is factored into the price of the proof eagle. That is the reason for the excess premium.
Additionally it is important to note the fact that proof type has never been handled by human hands and that is the reason why they are so highly sought after and are valued at more than their own common bullion counterpart.
And so now we know the real reason for the additional premium. Nonetheless, are the American Eagle Silver Eagle proofs worth the excess price?
Recently, I did some research on the well-known auction site, eBay, to attempt to ascertain the recent selling prices for the the year 2010 Silver Eagle Proofs.
Exactly what I learned was the fact that sell amount varied, depending upon the particular grade belonging to the coin — whether or not it was PCGS PR70 First Strike or PR69, and so forth. At the time this particular article was written, the typical selling price seemed to be around $60.00.
That’s an increase of greater than 30 % since their November 19th launch date. (Please note: the price of silver might have risen or declined during the time you might be reading this write-up and so existing auction prices might be much more or less, depending upon the spot price of silver).
Let’s say, you’d purchased a regular bullion silver eagle on the exact same time frame, using the ending price of $27.35. You would now have a gain of only 9.69%!
It is also fascinating to take note that special edition silver proof coins like the 1995-W Proof Silver Eagle and also the 2006 Reverse Proof are usually valued at even more!
About the Author
The 2011 Proof Silver Eagle coins won’t be available for sale from the U.S. Mint until July 6, 2011. And even though you can no longer order the 2010 American Silver Eagle Proof coin through the U.S. Mint’s website, they are still available for sale at: http://BullionBargains.us
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