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Coin and Paper Money Collecting/American Silver Eagle coins

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Expert: - 4/25/2008


Question
I have some 2004 American Silver Eagle coins that are listed as 12668   2004 $1 Silver Eagle UNC for $32.00 on the http://www.govmint.com/itemd.asp?ItemNo=SLVREAG&CatID=61 site.
Is $32.00 each an accurate or estimated value for these coins?

Frank

Answer
Frank,

$32.00 is the amount they want to charge you to buy the eagles from them -- which (in my opinion) is exceedingly high at the current price of silver.

If you took your 2004 UNC eagles to a (reputable) dealer, they would offer you about $17 to $18 apiece for them.

For the common year silver eagles (like the 2004's), you can estimate the value by finding the current spot price for silver (see www.kitco.com), and adding about a dollar to it -- this is approximately the amount you could expect to get for them when selling to a dealer.

I don't know what hat that website pulled their $32 price tag out of.

Dan

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Dan Moore

Expertise

My strong familiarity with all U.S. Mint coins, extensive reference library, and close relationships with many other dealers allows me to identify just about any coin made in the USA. I receive regular updates to all the current price guides -- both wholesale & retail -- to provide accurate values. So, with a good description or pictures, I should be able to identify and value any U.S. coin you have.

Experience

I've been a coin dealer since the 1980's and a coin collector since the 1960's. I specialize in U.S. Silver Coins and have an active online website -- The Working Man's Rare Coins -- http://www.workingmancoins.com -- offering information and inventory in U.S. coins.

Organizations I belong to :
American Numismatic Association Member #187770
Michigan State Numismatic Society Member #8255
Florida United Numismatics Member #19710
Monroe Coin Club Treasurer
Lincoln Coin Club Board Member
WINS Member #14
CoinMasters Member #1814

Frequently Asked Questions :
I have created a Frequently Asked Questions page on my website, where you may be able to get an immediate answer to your question. You can find the page here :
http://www.workingmancoins.com/FAQ/index.htm


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