silvereaglemarket

By Charles Morgan and Hubert Walker for CoinWeek….
 

This month we mark the debut of the CoinWeek American Silver Eagle Price Guide and discuss month-to-month changes in the Eagle market. Stat heads rejoice!

Our Approach

We set out with CoinWeek’s American Silver Eagle Price Guide to offer collectors a no-nonsense guide to the range of values that Silver Eagles typically sell for in a given period. For common coins the duration of this period is approximately two months. For issues that do not trade frequently, the period is longer but emphasis is placed on more recent transactions and we apply extra scrutiny to population growth.

guide1
The 1995-P Proof Eagle had a strong January.

Like many coin series, there is no hard and fast rule as to dealer pricing on a particular issue. Some price their coins within the range CoinWeek describes. Others price their stock higher. As deceptively simple as the American Silver Eagle series is, overly enthusiastic and under-informed buyers can find themselves quickly buried, at least from a cost perspective.

Having said that, the goal of the CoinWeek American Silver Eagle Price Guide isn’t to suggest what American Silver Eagles sell for, but rather to describe the range of prices that a buyer in the marketplace can reasonably expect to pay if they buy one at a public auction–including eBay and other, similar websites.

To that end, we check as much bias as we possibly can at the door. Our monthly updates represent real action in the market, not what we think happened or want to believe happened. As a user of our guide, you are empowered to make timely purchasing decisions based on actual, contemporary cost factors.

Unlike some “guides”, it is not our goal to make you feel good about your collecting or investing decisions. Instead, we intend to give you a real world snapshot of where things are now. Use this information to stay ahead of the curve and collect what you want to collect without unnecessarily breaking your budget.

Over the next several months, CoinWeek will monitor the new market of Quality-Assurance-stickered American Silver Eagles. As soon as we compile sufficient data to present the prices that this subset of Silver Eagles brings on the open market, we will add that data to our guide.

One last thing. Your feedback will help us improve the guide. If you have suggestions, ideas, or criticisms, please let us know in the comment field below.

February 2015 American Silver Eagle Market Analysis

NGC

New Elizabeth Jones label coins enter the market

NGC added to the population of their ongoing signature label program featuring former Chief Engraver of the United States Mint Elizabeth Jones. By our count, 295 new Jones signature labels were added to the NGC proof pop report; a majority of the new labels were 2013-W and 2014-W proofs. Seventeen Jones labels were added to the 2002 bullion issue in MS-69. Thirteen MS-69 labels were added to the 2003 bullion issue.

CoinWeek reached out to NGC to ask about the current status of the Elizabeth Jones signature label program. NGC stated that the program is exclusive to one dealer at this time and that Ms. Jones can sign only a limited number of labels at a time.

1986-2000 issues with new MS-70s

For pre-millennial issues, NGC’s grade distribution of MS-69s/MS-70s has remained consistent with historical norms.

A CoinWeek Market Advisory is in effect for the 1999 Mint State issue, a coin that has historically traded in excess of $22,500 to $25,000 in auctions (PCGS Population to date: 0). Four new MS-70s were added to this issue and the coin is set to break the 100-coins-certified mark within the next month or two.

1987 $900-$1100 +5 (485)
1988 $1750-$1850 +3 (312)
1992 $1400-$1450 +1 (319)
1994 $5000-$5300 +2 (179)
1996 $9000-$9500 +1 (145)
1999 $22500-$25000 +4 (98)
2000 $5600-$5900 +1 (203)

1986-2000 issues with new PF-70 UCAMs

1986-S $300-$330 +12 (2,124) – percentage of coins graded 70 in January – 33.3%
1987-S $680-$720 +3 (531) – percentage of coins graded 70 in January – 8.1%
1988-S $385-$415 +6 (774) – percentage of coins graded 70 in January – 21.4%
1989-S $240-$260 +7 (1,082) – percentage of coins graded 70 in January – 21.4%
1990-S $170-$200 +5 (654) – percentage of coins graded 70 in January – 27.7%
1991-S $380-$410 +4 (650) – percentage of coins graded 70 in January – 16.7%
1992-S $305-$330 +28 (895) – percentage of coins graded 70 in January – 9.82%
1993-P $1750-$1950 +4 (422) – percentage of coins graded 70 in January – 22.2%
1994-P $1650-$1750 +5 (480) – percentage of coins graded 70 in January — 7.04%
1995-P $315-$345 +4 (1,037) – percentage of coins graded 70 in January – 21%
1996-P $360-$385 +3 (724) – percentage of coins graded 70 in January – 17.6%
1997-P $350-$375 +1 (597) – percentage of coins graded 70 in January – 6.67%
1998-P $175-$200 +11 (1,301) – percentage of coins graded 70 in January — 44%
1999-P $310-$330 +8 (804) – percentage of coins graded 70 in January — 40%

PCGS

New John Mercanti label coins enter the market

The John Mercanti Signature Program remains popular with collectors, and PCGS added hundreds of new signed labels to their population reports in January.

There were 83 new 1986-S Proof 70 labels, 44 new 1987-S Proof 70 labels, 54 new 1989-S Proof 70 labels, and 100 new 2002-W Proof 70 labels.

2014_pcgs_pr_eagle1986-2000 issues with new MS-70s

PCGS held firm in January, awarding no MS-70 grades to pre-millennial American Silver Eagles.

1986-2000 issues with PR-70 DCAMs

1986-S $300-$330 +75 (2,317) – percentage of coins graded 70 in January – 86.2%
1987-S $590-$630 +19 (1,121) – percentage of coins graded 70 in January – 50%
1988-S $360-$380 +28 (944) – percentage of coins graded 70 in January – 84.9%
1989-S $200-$220 +7 (1,625) – percentage of coins graded 70 in January – 60%
1990-S $165-$185 +34 (2,143) – percentage of coins graded 70 in January – 70.8%
1991-S $360-$390 +17 (852) – percentage of coins graded 70 in January – 53.2%
1992-S $270-$300 +26 (937) – percentage of coins graded 70 in January – 63.4%
1993-P $1450-1650 +21 (626) – percentage of coins graded 70 in January – 48.8%
1994-P $1500-$1700 +33 (589) – percentage of coins graded 70 in January – 23.9%
1995-P $330-$350 +14 (1,008) – percentage of coins graded 70 in January – 43.8%
1995-W $30,000-$34,000 +2 (64) – percentage of coins graded 70 in January – 13.3%
1996-P $300-$320 +11 (1,284) – percentage of coins graded 70 in January – 40.7%
1997-P $275-$300 +15 (1,043) – percentage of coins graded 70 in January – 34%
1998-P $145-$165 +21 (1,737) – percentage of coins graded 70 in January – 42%
1999-P $250-$280 +20 (1,304) – percentage of coins graded 70 in January – 55.5%
2000-P $230-$250 +23 (1,176) – percentage of coins graded 70 in January – 45%

Summary Thoughts:

1. 2005 Bullion Strike– PCGS MS-70 – We were able to tighten up our Value Range from $280-$310 to $290-$310. Still, December and January’s tighter cluster of sales didn’t stop some buyers from going all-in on some preposterously high priced offerings.

One seller got $888 for an Eagle he described as having tiny milk spots and a tick near the sun (perfect coins with ticks and milk spots, who wouldn’t be all-in for something like that?). The coin did come with a “Lucky Pouch”, however.

2. 2002 Bullion Strike– PCGS MS-70 – A flurry of MS-70 graded coins from this issue hit the market. Recent results are 33% off from a month ago.

3. 1995-P Proof Issue – Prices were stronger across the board from both services in all grades.
 

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.