From the Jan. 12 Numismatic News E-Newsletter:
Do you prefer owning American Eagles to 90 percent U.S. coins as silver bullion?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
No. I prefer the 90 percent because it has a lower premium. If I were a coin collector, and I am not, I would put together sets of 90 percent coins by date and mintmark in low grades. I would then put together a set of silver Eagles by years. I would not include the burnished, proof, or double hologram whizzed versions often hyped by the Mint. One ASE a year also makes a great gift to relatives, especially youngsters, because when they go to sell, their collection will have cash market value, unlike the vast majority of junk the Mint currently puts out and fleeces collectors with.
Colorado Springs, Colo.
Yes, both are a good option. This is dependent on your own portfolio makeup. Perhaps for the small collector, two or three Eagles are plenty. If getting five, sell two at a profit to reduce your cost. After a few months to a year, perhaps trading one for some silver coinage. Who knows, you may be able to pick up a few higher grade coins. I have, and have a good small amount to fall back on.
I own some of each, but prefer coins as silver bullion. While they are connected to the current price of silver, they have a numismatic value, that I consider as or more important. My collection includes a ratio of approximately 25 percent silver Eagles to 75 percent mixture of coins as silver bullion and other nonsilver coinage.
I would not want to limit myself to only collecting one or the other. I love the nice, large Morgan dollars for various reasons. They have such an intriguing story behind them as well. I also love the American Eagle. I wouldn’t want to be forced to choose. My heart does belong to the Morgan dollars, though.
I really like the old coins like Capped Bust and Seated half dollars. I like Morgan dollars, three cents silver and three cents nickel and any Barber stuff. In just plain words I would rather collect anything else first. I collect most everything and silver Eagles I also collect them, but it’s not close in collecting older coins to silver Eagles. They have never been in anybody’s pocket so they don’t have a story to tell.
I don’t consider American Eagles coins.
I’ll do both, which ever has the lowest premium at the time. It would be a cold day at the equator before I’ll buy foreign silver.
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More Collecting Resources
• Check out the newly-updated Standard Catalog of World Coins, 2001-Date that provides accurate identification, listing and pricing information for the latest coin releases.
• The Standard Catalog of United States Paper Money is the only annual guide that provides complete coverage of U.S. currency with today’s market prices.