[deutschmann59]

I've always collected coins as a hobby, but never really got too serious with it. I've been interested in American Eagles for a while, but I need some advice before I buy.

I'd really like to start to collect maybe a $50 American Eagle a year, but I'm confused about it. What is the purpose of the proof, which is sold by the US Mint? From as far as I can tell, US bullion coins are pretty much for investment only and their value isn't based on scarcity like normal coins.

I can't understand why anyone would want to spend nearly $200.00 more for the proof, when they could just get the uncirculated coin based on the current market price of gold per ounce. Will dealers and buyers really be willing to pay more for a proof, say 40-50 years from now? There doesn't seem to be much demand for them on eBay, even the ones from 1986.

[RBBMWE46M3]

I dont mean to change the subject, but, I love the blast furnaces in the siggy... COOL, VERY COOL!!!

[deutschmann59]

Oh, ha ha ha thanks!

That's the old bethlehem steel mill. I went to college down there and I could see the steel plant from our apartment. They're talking about turning it into a casino, if you can believe that!

Actaully, Sands Las Vegas is looking into buying the property and keeping the blast furnaces as part of the structure, but the rest of the place will have slots and blackjack tables!

I started collecting the US Mint silver complete proof sets when the 50 state quarters first came out, a few years ago I also started getting the American Eagle silvers proofs because of their <$30 cost.
But more as a collection/long term thing then trying to flip them for profit soon. They have some good deals IMO on the silver proof sets instead of buying the gold or platinum.

[Robin_NL]

My father has been collecting EU (most Dutch/German/English) coins and medals since the beginning of the 70s(mostly 16th/17th/18th century medals)

I have been collecting real world money since I started working

[ga-bmwdrvr]

The "proof" refers to specially polished dies to produce a mirror like finish. These are not meant for circulation and are available in limited quantities. The proof silver sets are really a thing of beauty. You can make out all the fine details. As far as regular circulated coins, the finer and less wear the better. Most true collectors collect older circulated coins in excellent condition since these are the most valuable. A proof coin is expected to be excellent already. There can be different grades of proof also since the coins struck first will be of finer quality and worth more. I takes an expert with spacial equipment to tell the difference.

[NaTuReB0Y]

amateur here..........

[deutschmann59]

Thanks for the replies. I'm still wondering if the US mint offers the same coin--American Eagle (gold, silver, platinum), for example, and you can get either the proof American Eagle or the business strike uncirculated American Eagle, which would be better to collect?

I know it's all about personal preference, etc, but are the proofs worth the extra money just because they look nice?

[NaTuReB0Y]

Originally Posted by sharp1183

I know it's all about personal preference, etc, but are the proofs worth the extra money just because they look nice?

unless you're into investing for a profit.....not worth getting it.........the proof is just to get more money out of you.....because it has been graded by a professional...so the coin is supposed to be "flawless.".....but the guy who graded the coins is probably the same guy selling them.....

i've been collecting the silver american eagle coins for the last 15 years......and they look as good as the proof.....but i collect it for fun only....not for investment/selling/profit....

[325 Baller]

if you mean collecting lose change then ya, i have $50 worth of pennies, nickles, quarters, and dimes combined lol

[NaTuReB0Y]

Originally Posted by 325 Baller

if you mean collecting lose change then ya, i have $50 worth of pennies, nickles, quarters, and dimes combined lol

i guess i'm a collector for sure!

[deutschmann59]

Sorry to bring this post back from the dead, but has anyone seen the new American Buffalo bullion coins? Anybody buy any?

I think I'm going to get maybe 2 graded in MS70 when they come down in price a bit.

You can buy "first strikes" but the prices are way overpriced. Are "first strikes" really all that important to collectors? I know coin dealers are trying to really move them, but will they be that valuable in the future?

[tl_boy]

i lost my coin collection years ago. i had an 1845 penny, and a bunch of 1880's and so forth. (wreath ones i think), those were my oldest coins. i had a lot of those Littleton, co. sets too. Also had a bunch of those Native American buffalo nickels. need to find it and sell them. how much do you think those things are worth?

[deutschmann59]

Originally Posted by tl_boy

i lost my coin collection years ago. i had an 1845 penny, and a bunch of 1880's and so forth. (wreath ones i think), those were my oldest coins. i had a lot of those Littleton, co. sets too. Also had a bunch of those Native American buffalo nickels. need to find it and sell them. how much do you think those things are worth?

See, the thing with coins is the condition (but also rarity) usually determines value. The problem is, suppose you've got a lot of coins you want to sell. Well, the only way you'll really potentially see any money from them is if you know what grade they're in.

But sending your coins out to a coin grading service might not be worth the money you spend on getting them graded if the coin turns out to be worth very little, or it costs more to get the coin graded than the coin is actually worth. That's the problem.

The best way to get an idea of what you've got is to look on eBay for your exact coins, or look for them in a coin book (they usually list all kinds of coins and different conditions and their value) to get an idea.

But what if you think your coin isn't worth much and you sell it for whatever you can get, and then the buyer gets it and has it graded and it turns out to be worth millions, like the $3 million dollar nickel: http://www.blanchardonline.com/about...rty_nickel.php

[SocalTy]

I work for a "everything but coin" wholesaler. Translinesupply.com is the website.

If you need anything for your coin collections, just let me know. From gallon coin lusters, to Whitman albums, Harris coin tubes, money bags, capital holders, etc. Just give me a PM.