From the Apr. 7 Numismatic News E-Newsletter:
Will 2017-S proof silver Eagle prices remain high when the Mint offers more?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
Hopefully, it will just be in line with other products. As with many items from the Mint, the after-market will tell the tale of the worth. A lot of times I’ve seen a downturn in price. Yes, I did get burned both ways in waiting. Just play it out is all. If you get two to begin with, get another two after the fact. You just may average out.
Berkel en Rodenrijs, Netherlands
To answer your question, no. I have never seen prices go down when there was a surplus. i.e., gas goes up to $2.85 per gallon because we have to pay more per barrel of oil, but when we get a better price per barrel of oil you don’t see the gas stations lower their prices and, if they do, it certainly isn’t much.
Everyone wants their 100 percent profit. It’s probably the dollar that has ruined our country.
Bob D. Allen
At what point do we all turn our backs on the United States Mint and the dealer network it supports with its poor practice of leaving collectors in the dark? I believe this is more than what it appears to be on the surface, all these quick sellouts and dealers with multiple coins to offer at high prices. Also the collusion with the grading companies to try and pull us into their world of first release, early release, plus additions to grades, stars, all the things made up to take money away from collectors.
The Mint has been, and will be forever be, in partnership with the network of dealers, who are in partnership with the grading companies and all their special labels that add nothing to a coin’s value. Will the price go high for this silver Eagle? Yes, unfortunately it will. A mintage so low creates instant high prices and a hole in the sets we collectors try to put together.
On a more important note, this ruins interest for others to remain in the hobby. And, worse yet, this is an example of why the hobby suffers at gaining new collectors.
After this, and what has happened over the last four or five years, I’m done with the United States Mint. They should be ashamed of their business practice and what they have done to the hobby and we collectors.
I can also tell you that the business practice of what I saw a dealer (PNG) do during the last month has made me decide that I no longer want to be a part of this hobby that I have enjoyed since 1993-1994. I’m in the process of putting my collection in order and will be selling or auctioning most everything off; however, some will go to some young numismatists as a gift, with the small hope that this hobby will change for the better in the years to come. Thank you for letting me express my thoughts.
This article was originally printed in Numismatic News. >> Subscribe today.
More Collecting Resources
• Keep up to date on prices for Canada, United States and Mexico coinage with the 2017 North American Coins & Prices guide.
• More than 600 issuing locations are represented in the Standard Catalog of World Coins, 1701-1800 .