Since many customers ask us about graded silver eagles and why we don't offer them, we felt the need to explain the "dirty little secret" behind the biggest scam ever perpetrated on the coin collecting community.
First of all, modern silver eagles are minted by the millions (approximately 47 million coins last year) so they will never be considered "rare" by any definition of the term. In addition, the US Mint has actually gotten very good at minting the coins with exceptional quality right out of the mint tube. For example, of the roughly 225,000 2016 silver eagles graded last year by NGC, over 50% of the coins were graded "perfect" MS70, about 29% were graded "nearly perfect" MS69, with the balance receiving lower grades. In other words, a full 80% of all coins submitted to NGC receive the MS70 or MS69 grade!
In general, the MS70 grade retails at about 2 to 3 times the cost of a raw coin while the MS69 grade retails at about 1.5 to 2 times the cost of a raw coin. Unfortunately, these graded coins only have a "one-way-market" from the big national coin dealers to the consumer. The huge price premium initially paid for the coins can NEVER be recovered. If you don't believe us, ask these same national dealers for their "buy-back" prices for MS70 silver eagles from the past few years. You will be shocked to learn that the high premium you initially paid has evaporated and the MS69 coins are worth about the same as raw coins while the perfect MS70 coins might only be worth slightly more than an ungraded coin.
To add insult to injury, the major grading services offer extra cost options such as "Early Release" or "First Strike" labels. In fact, these extra cost labels are just another scam and simply mean that the coins came from the first thirty days of release - which can often include up to one-quarter of the entire annual mintage since there is huge demand for the new coins when they are initially released each year.
Finally, the dirty little secret... many of these graded silver eagles will develop milky white spots inside the slab holder - AFTER the coins are graded and encapsulated. This is due to a chemical reaction between the holder material itself and the coins surfaces (see above photo). For this reason, both PCGS and NGC no longer guarantee the grade on any silver eagle coins. If the coin turns or develops unsightly milk spots - sorry about your bad luck!
For these reasons, the Silver Eagle Coin Company does not offer any graded silver eagles nor do we recommend them period.
Please e-mail us with any questions or comments.
FAQs
What is the difference between MS-69 and MS-70? A grade of MS-70 is the highest score a coin can receive and indicates perfection in regard to blemishes, strikes, and luster. Meanwhile, an MS-69 rating is near-perfect but has identifiable disfiguring, like a hairline scratch.
What is the difference between MS70 and MS69 Silver Eagles? ›
Grading services assign a grade from 1 to 70, with 70 consider almost perfect with the coin in the exact same condition as when struck by the Mint. An MS69 graded coin is considered almost perfect and might contain a few small defects when compared to an MS70 coin.
Are MS70 coins worth buying? ›
An MS70 rating doesn't automatically mean that coin is highly valuable or rare. It's simply an indication of a coin's condition which only partially influences its value. A coin's overall worth is determined by a variety of factors including purity, demand, and the current spot price of gold and silver.
Is pf70 or MS70 better? ›
Proof coins and MS-70 coins are considered higher quality than other circulating coins. Proof coins are made using a special process that yields an attractive finish with greater detail. MS-70 coins are also high-quality coins, but they are not considered as perfect as proof coins.
What is the best American Silver Eagle to collect? ›
The 1994 and 1996 silver eagles are the most valuable and popular of the silver eagles, but don't overlook the 1997 and 1995 silver eagles, which have the third- and fourth-lowest production levels, respectively.
Which coin grading service is best? ›
Since 1986, PCGS has been the industry standard for the authentication and grading of rare coins.
What is the best year silver eagle coins to buy? ›
It's well known within the industry that American silver eagles minted in 1999 or earlier, with the exception of 1987, are better date and more valuable silver coins than their post-1999 counterparts.
Is it worth getting silver eagles graded? ›
As one of the most popular silver coins ever minted, it is widely recognized and valued for its beauty, quality and credibility. For those collectors and investors hoping to take their collection to the next level, acquiring graded American Silver Eagles are a great way to boost overall value.
Should I buy graded silver eagles? ›
Why Buy Graded Silver Eagles? Unless the coins you're buying are in mint condition and are uncirculated, arriving at your door in sealed containers from the US Mint itself, then you need to ensure that you're actually getting what you pay for. This is important for numismatists (collectors) as well as investors.
Should I join NGC or PCGS? ›
Both are universally recognized and respected throughout the world. Both companies have been around for decades and offer professional coin-grading services. The main difference between the two is that PCGS is slightly older than NGC, having been in business since 1985, while NGC has been around since 1987.
Rare or key date coins should always be evaluated for possible submission, especially if in uncirculated condition. Additionally, be sure to inspect your coins for any evidence of damage or alteration. Third-party grading companies may not certify these coins depending on the extent of the damage.
Which coin grading is better NGC or PCGS? ›
Professional Coin Grading Service (PCGS)
PCGS stands for the Professional Coin Grading Service. The PCGS has been around for longer than the NGC and are considered by some investors as a slightly more accurate grading provider, this however is very much a split opinion across the industry.
What is the difference between PCGS ms69 and MS70? ›
What is the difference between MS-69 and MS-70? A grade of MS-70 is the highest score a coin can receive and indicates perfection in regard to blemishes, strikes, and luster. Meanwhile, an MS-69 rating is near-perfect but has identifiable disfiguring, like a hairline scratch.
Why would PCGS not grade a coin? ›
A No-Grade coin might be one that is artificially toned, abrasively cleaned, has very large scratches, has been altered, or has been repaired. Some coins that are extremely rare or are well known for being improperly handled like Colonials and Pioneer gold can receive the benefit of the doubt.
Are slabbed coins worth more? ›
Slabbed coins are coins that are preserved in clear, plastic containers and include the grade confirming the coin's authenticity and condition, as determined by the service. Slabbed coins are highly prized by collectors and can be extremely valuable.
Is a proof coin better than MS70? ›
Proof coins and MS-70 coins are considered higher quality than other circulating coins. Proof coins are made using a special process that yields an attractive finish with greater detail. MS-70 coins are also high-quality coins, but they are not considered as perfect as proof coins.
What is the best grade for silver coins? ›
The grading scale assigns a whole number between 1 and 70 with 70 being a perfect, flawless coin. Grades range from poor, almost completely worn out, to perfect mint state, a coin with absolutely no wear and no flaws of any kind.
What is the best PCGS grade? ›
The lowest PCGS grade would be a PO-1, the grade of PO-1 is defined by PCGS as "Identifiable date and type." The highest PCGS grade would be a 70, the grade of 70 is defined by PCGS as, "as struck, with full strike." Depending on collectors and dealers preferences you will see that people around the world collect or ...
What is the highest PCGS grading? ›
PCGS Banknote Grading: Written Grading Standards
| Labeling | Grade |
|---|
| 70 PPQ | Supreme Gem Uncirculated |
| 69 PPQ | Superb Gem Uncirculated |
| 68 PPQ | Superb Gem Uncirculated |
| 67 PPQ | Superb Gem Uncirculated |
26 more rows