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Community Voice Responses (05/08/2012)

From the April 13th Numismatic News E-Newsletter: Do you think collectors will buy more proof silver Eagles in 2012 than 2011? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper.

You know, the Mint has been getting some bad press lately because of the President dollars and other things. So, I feel the sales of Eagles will drop this year due to the annoyance with the Mint.
The Mint has shown its colors. It is greedy– and we, the not so rich collectors, are either having to pay the piper or quit collecting.
John Davidson
Walla Walla, Wash.

I really don’t think so. I am an avid collector and everybody was saying silver would hit $50 by last December. I tried to tell people it wouldn’t, and they don’t listen to a nobody. So no, I don’t think you will see a lot of silver Eagles sell in 2012.
Phillip Webb
Niagara Falls, N.Y.

I would bet that the collectors will buy less. Most of us are dissatisfied with the Mint giving the little guy the cold shoulder on coin purchases, letting the graders have first choice and cherry picking the silver dollars.
To me this is typical government work as I don’t think they can do anything correct and make a go of a business.
George Conner
Rogersville, Mo.

I think that both the 2012 proof and uncirculated silver Eagle sales will increase due to the silver spot predictions. That kind of thing tends to get people excited.
Alex Helzel
Greensburg, Pa.

My guess is that silver Eagle proof sales quantities will only equal and not surpass the 2011 sales total. The design of these coins is classic and beautiful in detail, however the cost of these coins will make many collectors scale back order quantities from previous years. The lack of appreciation in value over time, versus cost, will also be a factor in sales volume.
R. McKenna
Belleville, Mich.

Fewer proof and uncirculated silver Eagles will be sold in 2012 than in 2011. Demand for silver is down due to the choppy bullion market. Speculators are moving into other investment areas. The only way that more silver Eagles will be sold this year is if demand for silver suddenly picks up and the bull market resumes.
Bruce Frohman
Modesto Calif.

The collectors will purchase a few examples to put into their collections. I think we are beginning to see a flat line when it comes to speculators.
The fundamental issue is and will continue to be the state of the economy and the general malaise of society in general, which will have people continuing to gravitate to precious bullion metals as a medium of exchange.
James Adams
Address withheld

I can only speak for myself. With the economy the way it is, and the price of the Mint products increasing, I am purchasing fewer proof Eagles this year than I did last year.
Larry Violett
Lodi, Calif.

I plan to purchase more in 2012 than I did in 2011.
Charles Kook
Salem, Ore.

With a close look into the Florida numismatists crystal ball, that is a crystal or glass ball believed by some numismatic people to aid in the performance of clairvoyance, I came up with in my opinion at this time: yes, why not?
Chuck Schroeder St.
Petersburg, Fla.

No I do not you think collectors will buy more proof silver Eagles in 2012 than was bought in 2011. The reason being is that the silver proof coin market is becoming extremely competitive and is becoming more global with various types of rare silver proof being offered by other mints outside of the U.S. And Especially in view of the value of silver verses the mark up price, I think collectors are going to be looking more on a mintages base purchase first before considering investing in the 2012 proof silver Eagles. A lot of their purchases will depend on future premium return possibilities. I think collectors are becoming more investment minded as oppose to the just got to have it mentality.
Mercury R Williams
Seattle, Wash.

I have been a Numismatist for over 50 years, and purchased almost all of the my collection from the U.S. Mint, with the exception of my Dansco United States Type set, which is now competed with all 76 coins, ranging from a 1801 Draped Bust Half Cent to 2010 uncirculated Silver American Eagle. All 76 coins are range from a Fine (F-12) to an MS 69.
I will continue to purchase most of my coins from the U.S. Mint; even though I think the U.S. Mint is out of touch with the Numismatic world.
I have been purchasing (three) Proof Silver Eagles and (two) uncirculated Silver Eagles for many years, and will continue to do so. However, I’m not sure most Numismatists will continue to purchase Silver Eagles in large quantities; therefore, I don’t foresee an increase in the purchasing of U.S. Mint’s Silver Eagles!
Larry W. Young
Tyrone, Ga.

There might be about the same number of buyers for the 2012 Silver Eagles as were yesteryear. Those hardcore collectors of these rounds, like all good collectors, seem to come up with whatever amount of money for the NCLT Round the Mint asks, whether they can afford it or not. As for me, I simply can’t afford it, even though I have a few “earlier” ones from the turn of this last century. Should the price–including S & H–come down (which I doubt) to around $10.00, then I might consider re-investing in the Eagle market. Until then, I’ll just satisfy myself with hunting Eagles at Garage/Yard sales. You never know?
Bill Tuttle,
Cleveland, Ohio

Yes I think there will be a lot more 2012 proofs sold this year.
Hank Jackson
Carthage, Miss.

I don’t think that proof eagles will out sell the unc. ones. The price difference may deter some novice collectors of silver at present and higher levels. Perhaps a half ounce size in the eagles can help promote sales as well as affordability.
Gary Kess
Escalon, Calif.

I like to buy a couple of proof Sil. Eagles every year. I like special editions as long as they are not a common occasion. I doubt there will another special edition this year. I will buy a 2012 S mint unc. sil. Eagle if available. A special set with a silver dime would be nice for the 50th anniv. of the March of Dimes.
Donald Cantrell
Address withheld

Dont’ really know. Appears in redbook proofs are worth more than MS coins but it appears when they sell them for bullion
the proof coin are getting no more than MS coins. This is shown by companies that buy coins for melting.
John Vercauteren
Address withheld

Sales totals for the proof silver eagles should be equal or slightly higher for 2012 vs 2011, after all the hoopla with the 25th anniversary set!, people just want more! and when you purchase a proof silver eagle you not only get a very fine coin you get a nice chunk of bullion, and to keep your proof eagle set current you got to have one or maybe two, I myself already have my two and am thinking about a few more, so if people follow my lead then yes sales totals should be higher! and if your looking at bullion it don’t get know better than proof eagles
Michael P. Schmeyer
Halsey valley, N.Y.

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