Expert: Ronald Fern - 3/2/2010

Question
What should a silver eagle proof usually grade. I have several NGA and PCGS graded eagles and I just bought several us mint boxed proofs and was wondering around what grade they should come out of the mint boxes.  Thanks

Answer
Hi Tom:

Thanks for picking me to answer your question.

The average grade for a modern proof eagle coin in a certified holder is PR-69 DCAM (Deep Cameo).  The Mint process just makes almost all of them that way.  It's actually more difficult to find one that is NOT at least DCAM.  The same thing can be said about almost any modern proof coin from the U.S. Mint.

The coin grade is unrelated to the amount of cameo. The grader makes an opinion on the coin in relation to contact marks, strike, and eye-appeal.

The Cameo attribute has to do with how much of a satiny appearance the figure on a coin has, in relation to the mirrored appearance of the surrounding fields.

In order of weakest to strongest cameos they are:
Semi-Cameo = Barely noticeable difference
Cameo = Noticeable difference
Deep Cameo = Strong difference
Ultra Cameo = Extremely strong difference

Ultra Cameo coins will have a much stronger cameo effect than Deep Cameo coins.  In color terms, they would be black/white vs. black/light grey.

Ultra Cameo coins are significantly rarer than Deep Cameo coins, are are therefore worth significantly more.

Slabbed high-grade proof silver eagles (which are highly desirable collector coins) cost far more than average uncirculated silver eagles. It is fair to say that most high-grade proof silver eagles are priced more accordingly to the coin collector and investor market, rather than the bullion market.

For more information, see: http://coins.thefuntimesguide.com/2009/05/silver_eagle_coins.php

You may want to check future EBay listings under US coins in the silver eagle proof category to see what these coins are going for.

If you live close to a local shop, they should offer an opinion as to their value at no charge. Always try and get at least two opinions and try and deal with PNG dealers if possible. Here's a link to find one in your area: http://www.pngdealers.com/dealersearch.php

Please remember to go to the experts site to rate this answer. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck in your collecting.