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Trying to understand US Mint...


cestrin

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So I posted something earlier about the new dates for coins.

 

Say that I'm looking for an American Eagle...if I wanted to buy a new one should I buy the 2007? I guess I'm also asking if the mint is always a year behind?

 

Well there are a few things you can do:

 

1) Wait a few months and buy a 2008 ASE the moment they come out from the mint - you might get lucky and find an error coin or a new variety!

 

2) Wait a few months and buy it fresh from a dealer - they may be marked up a bit or you may get a good deal. But it keeps the money in the hobby. Money going to dealers will eventually go back to you in some way. Money going to the mint, goes to the government and doesn't impact you or the hobby in as good a way.

 

3) Just go to a dealer and buy a 2007 ASE.

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The Mint produces the current year for the eagles. You MAY still be able to purchase a 2007 from the US Mint in 2008 if they have any left. In 2008 the price of the silver eagle (and probably the gold eagle) will go up. I read somewhere that the silver eagle proof will go to $32 and some odd change due to the price of silver increasing. The 2007 coin is currently at $29.95.

 

I wanted to add that I was in a coin shop today and I saw a 2007 silver American Eagle for just under $40. So if you need to save every dollar (or are just a penny pincher like me ;) ) the cost of the coin from the US Mint with shipping is still less money.

 

Are you a big collector of the eagles? I am considering one myself and just can't seem to pull the trigger for one. So if I get one it will probably be from a dealer next year...if ever. :ninja:

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  • 2 weeks later...
So I posted something earlier about the new dates for coins.

 

Say that I'm looking for an American Eagle...if I wanted to buy a new one should I buy the 2007? I guess I'm also asking if the mint is always a year behind?

 

Well there are a few things you can do:

 

1) Wait a few months and buy a 2008 ASE the moment they come out from the mint - you might get lucky and find an error coin or a new variety!

 

2) Wait a few months and buy it fresh from a dealer - they may be marked up a bit or you may get a good deal. But it keeps the money in the hobby. Money going to dealers will eventually go back to you in some way. Money going to the mint, goes to the government and doesn't impact you or the hobby in as good a way.

 

3) Just go to a dealer and buy a 2007 ASE.

 

Point 1)- The US Mint started processing my subscription order on December 27, 2007 for the 2008 Proof Silver Eagle. They shipped today. No need to wait a few months, they are available now.

 

Point 2)- Gold continues to rise, and as it does, it brings silver along as well. Dealers sell based on Gray Sheet prices, regardless of what they bought it for. If silver rises $5, the cost of the coin in the case just went up $5 as well. If gold drags it up $15 an ounce, the coin in the case went up as well. You see the trend here.

 

Point 3- See point 2.

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I just like the ASE's they are great looking coins, I plan on buying many more. So far the two I have are from my local dealer, but I may get a proof from the mint. Depends. Currently I have a 2007 and a 1988.

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