25th Anniversary Silver Eagle Sets...
Ian Russell on Sun, Nov 06, 2011 07:35:20 PM
In late October, the U.S. Mint sold a special 25th Anniversary Silver Eagle set, selling their whole planned mintage of 100,000 sets in approximately eight hours.
What's the big deal? Well, two of the five coins are unique to the Anniversary Set (the Reverse Proof, and the S-Mint San Francisco issue) - these two coins will be immensely popular and with a mintage of only 100,000, they both become keys to the Silver Eagle series. These two coins will make up most of the value, although in MS/Proof-70, there might be another coin that becomes the most valuable - we don't know this yet until we start to review the quality of the coins.
We advised all of our clients to order the full five sets per household, even if they were only interested in one set. Sets are already "pre-trading" at significant premiums to their issue price. At GreatCollections, we have stayed away from Pre-sales, since there are so many risks involved (ie. will the Mint deliver all sets, when will they deliver, what is a fair price and so forth), although we anticipate starting to list boxed sets on our site in the next 10 days once we have them in from consignors. We will also be grading coins for clients (see below).
Regardless of whether you are going to sell the sets immediately or hang onto them for a while, please keep them in the sealed box from the U.S. Mint. This is VERY important. Since three of the coins are readily available as *normal* issues, the only way PCGS, NGC or ANACS will put the coins in matching holders will be if they arrive in sealed boxes from the Mint.
For our collector clients who ordered five sets and only want one set, we will be offering a special program that we will arrange to grade all five sets through PCGS, NGC or ANACS and give you the option to keep one or two sets, while auctioning the remaining sets. Since some clients want 69s and others want 70s, just give us a call at the office and we will handle each client personally. Despite the hundreds of sets we will be submitting for clients, every submission will be kept separate, and on separate submission forms. This is your assurance that you will benefit if some of your coins grade 70.
Please note: PCGS and NGC will be producing special labels for the 25th Anniversary Sets and grading rates will be approximately $125 per set of five coins.
If you have any questions, please do not hesitate to contact us.
(PS. I purposely left out criticism about the U.S. Mint's website during the ordering process for these sets - clearly they were overwhelmed with demand, and I know some clients spent two hours on their computer to order their allotment! For the 30th Anniversary, I'm sure the Mint will have improvements in place!).