1999 $1 Silver Eagle Bullion - Should I Get It Graded?

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1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#1 Unread post by CoinPyro »

Afternoon to all of you,
I noticed today that my grandfather purchased a 1999 Silver Eagle Bullion coin back in the day. He bought it from Littleton Coin Company; he bought a lot of other coins or samplers or something from them too, it seems, as I've found 4 envelopes with still-wrapped coins inside. I don't know how legit these guys are/were, but this coin is being advertised as uncirculated on the package (slab???) it is inside. Basically, I looked at this coin and thought, "wow! This thing looks really nice. I wonder if I have an MS67 or higher in my hands... maybe this thing needs to be seen by someone smarter than me."

This coin looks to be in excellent collection. I believe it is, in-fact, uncirculated. My question is, should I have this coin sent off to PCGS/NGC to get graded? I'm not wanting a grade for value alone, but for collecting's sake also. I think this guy is worth at most $200-250, anyway. While I noted that one coin sold in 2013 for $30,000+, that was 8 years ago and rated by NGC MS-70, not PCGS. PCGS doesn't have photos of the varieties, making it even harder for me to tell if this coin is worth my time.

Images below as always. Any feedback is welcome. I tried to get all those crisp details and a good photo of both sides of the packaging as reference. If you want even more pics, let me know!
Full packaging front/back
1999 Dollar 1.jpg
1999 Dollar 2.jpg
.
Obverse in detail (the little line in the first photo is on the plastic, not the coin itself. I can see the shadow at certain angles)
1999 Dollar 3.jpg
1999 Dollar 4.jpg
.
Reverse in detail
1999 Dollar 5.jpg
1999 Dollar 6.jpg

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Re: 1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#2 Unread post by JTCC »

silver eagles are not intended for circulation, they are purchased by collectors directly from the mint. Since it was NIFC, to see one in this shape does not surprise, slabbed MS69 examples are common. For grading, if you were only LIKE TO SEE IT IN A SLAB, yes, but for a really high grade, or profit, no. have a nice day.


P.S. littleton coin company has a horrible reputation amongest collectors, they sell stuff wayyyyyyyy overpriced, like a silver dime for 20+ dollars, and use not-so very good marketing stratgies. daniel has videos about them, chect them out!
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Re: 1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#3 Unread post by CoinPyro »

JTCC wrote: Tue Nov 23, 2021 6:15 pm P.S. littleton coin company has a horrible reputation amongest collectors, they sell stuff wayyyyyyyy overpriced, like a silver dime for 20+ dollars, and use not-so very good marketing stratgies. daniel has videos about them, chect them out!
Ah nice. Of course my grandfather would have gotten into coin collecting through them (albeit not much by what I've found so far??). Given his track record I am not surprised.
I will definitely check those videos out and probably cringe. But hey, it wasn't my money, so no matter what happens I'd make a profit! 😂

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Re: 1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#4 Unread post by JTCC »

update, PCGS price guide checked, $68 in MS69. coin must be valued at $140 or more to be sent out for grading. let PCGS price guide be your best friend in US coin prices.
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Re: 1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#5 Unread post by Earle42 »

I agree.

And sorry if I posted this for you before. But most people have a misconception about coin slabbing companies.

Give a man a fish, feed him for a day. Teach a man to fish, feed him for life. Here is some beginners fishing tackle. Its worth your time to read.

Following is info concerning the actual nature of grading companies that can help people make better educated decisions.😊

Thinking of Slabbing? Make sure you understand the Facts...or You Could Lose Money.


1. The grading companies are not a way that the majority of people, even those with a great deal of experience who know what they are doing, are going to be able to use in order to make huge personal profits. Many people start using grading companies thinking they will find a way to finance their hobby, but they learn a hard lesson quickly.

2. Watch some of Daniel's videos where he gets pieces back form the grading companies. Note even people who live, eat, breath, and deal coins for a living (like Daniel) can accurately predict what grade the companies will give. And...the "fault" (not really a fault) is in a widespread mistaken perception people get from being exposed to all the slabs being sold nowadays.

Coin grading companies are a business out to make a profit - this is why they exist. They use a system where (allegedly, but in reality its normally two) three graders look at each coin and give an opinion. The company videos showing the process make you believe this is a relaxed paced process of studying each coin. In fact one PCGS video shows a number of guys sitting around a table discussing what they think a specific coin should be graded as (on youtube somewhere - sorry no link). Uh uh.

If you take a PCGS graded coin slabbed as MS64, break it out, and resubmit it to PCGS, you are never guaranteed the same grade again. The slabbed coin might come back MS62 (bad day for graders), 63, 64, 65, 66 (great day for you!). This is b/c the process is all subjective: No scientific/verifiable standards or methods are used. Personally having talked with former graders (granted - its been awhile), the process is very rushed since they told me graders are paid by how many coins they can get through in a day.

But..this is all hearsay without proof. So...
Grading the Coin Graders

Here is another good read from someone there at the start of the grading companies:
Hobby negative impacts from slabbing companies

3. People also seem to think grading companies will examine a coin to see if they can find an error and then slab it as such. But again, they ONLY GRADE coins. The companies will NOT try to find and ID an error for you. You must FIRST ID the error yourself, CHECK to see if the company you want to use recognizes that specific error, PAY them to verify the error on the label, and then you may or may not actually get what you pay for! The companies have a bad reputation for attributing errors correctly.

Link to and read (download if you want it) the pdf link in my signature as an eye opening example.

The verifiable data presented shows trusting people have spent thousands of dollars on many slabbed coins that are not what the companies claims/slabbed the coins to be.

You don't have to throw in the towel over these companies...but education about the reality of them will put you on the right pathway to dealing with them in a legit way without losing money in the process.

And…if you just like to collect slabbed coins for what they are, which makes losing/making money from slabs irrelevant, then of course enjoy them!" 😊
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

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Re: 1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#6 Unread post by Jasonkflo »

In my opinion it's also better to send at least 5 coins in at the same time to help with shipping. If you just want to keep the coins and have them graded I suggest ANACS . They are somewhat cheaper and you do not need to be a member.

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Re: 1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#7 Unread post by CoinPyro »

Earle42 wrote: Wed Nov 24, 2021 10:00 pm I agree.

And sorry if I posted this for you before. But most people have a misconception about coin slabbing companies.

Give a man a fish, feed him for a day. Teach a man to fish, feed him for life. Here is some beginners fishing tackle. Its worth your time to read.

Following is info concerning the actual nature of grading companies that can help people make better educated decisions.😊
I think you had posted this for me or someone else that I read before, but the information is insanely helpful and I appreciate it all the same.

There were 3 reasons I made this topic. A) I found a coin that actually looks really good in this collection, B) it was pre-packaged so there was much less chance of it having been circulated, and C) I figured even if it wound up not worth my time, someone would see it and learn something. I don't regret posting this because Point C has actually happened. People have seen this topic, clicked, and learned something. I'VE learned something, too.

Is it disappointing that this coin isn't worth grading? Somewhat, yes. Ultimately, I can't be mad at anything or anyone though since I got this coin and the "collection" it was from for free. Plus, I wasn't primarily motivated by greed to search through for interesting stuff. I had heard about a few cool old coins and wanted to see if I happened to inherit some. I have found some coins I hoped for, and even though very few look "nice" to me, I should be on Cloud 9 for finding ANY.

This has kind of served as a gentle reminder for me that these coins are valuable because most people don't have even ONE of them. Here I am feeling frustrated because most of the "interesting" coins I have aren't in mint state. It makes me feel kinda silly to be aggravated at these metal disks when there's people out there willing to pay above face value for many, practically regardless of condition. I guess it really goes to show the truth behind the saying "one man's trash is another man's treasure."

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Re: 1999 $1 Silver Eagle Bullion - Should I Get It Graded?

#8 Unread post by Earle42 »

There were 3 reasons I made this topic. A) I found a coin that actually looks really good in this collection, B) it was pre-packaged so there was much less chance of it having been circulated, and C) I figured even if it wound up not worth my time, someone would see it and learn something. I don't regret posting this because Point C has actually happened. People have seen this topic, clicked, and learned something. I'VE learned something, too.
And learning is what this forum is all about😊

You also have learned that even what people would think would HAVE to be perfect coins b/c they are in a nice holder (yes, even in mint packaging) will not always be worth sending in for a grade as well (unless of course a person just LIKES to collect slabbed coins - then cost does not matter).

The (alleged) standards the companies (claim to) go by mean that the highest grades are not going to be commonly assigned. I have had first hand evidence from a dealer concerning grading monster boxes of ASEs. The evidence seems to point to companies limiting the number of perfect grades assigned. A possible (note that word means hypothetical) motivation would be a low populations of perfect grades drives up the price on perfect grades. In response more people will gamble on sending their coin in and hoping for a perfect grade...which means more profits for the company.

So even when a person finds an eye-popping perfect looking coin, its all still just a gamble it will get a money level grade. This is why people cannot make a fortune using the companies.
Common grading company shortcomings & resulting co$tly mi$take$ to collectors (using Kennedy No FG halves):
https://tinyurl.com/y7rksxu8

How much squash would a sasquatch squash if a sasquatch would squash squash?

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