Numis Network a Rip Off? Real Value of Silver MS70 American Eagle Coin

[SicaGR]

Actually I find them all to be equal your paying for an opinion but unfortunately consumers prefer PCGS & NGC over ANACS. Usually SHN is usually highest.

[TheChiefSteel]

btw..a note from the coin collecting community and not the Internet Marketing community. PCGS and NGC are by far the two most renowned 3rd party grading companies. ANACS has some real fishy grading and it seems to look that they bend the Sheldon Scale.  Which is dangerous for people buying graded coins from there 3rd party service. Go spend some time in a coin shop and ask some questions.

[rightsideofhistory]

@TheChiefSteel Face it, Numis Network (at the top) buys Eagles by the monster box @ $20 ea. , which they send to ANACS to slab them all (straight from the box, never touched by human hands). They have a sweeeet volume grading deal (probably $5 per coin @ 10,000 coins a month). Then off they sell as their $99 "flagship product" with a $75 markup. Man, somebody is getting very very rich off the cream in this equation. You'll never catch me paying $100 for an ounce of silver.

[TheChiefSteel]

@rightsideofhistory I see this Numis Network everywhere on youtube. They are totally hitching to people that have no idea about coins or the value of them. These people are all internet marketing get rich quick people and they are all getting completely screwed to the floor boards. Just think after a year you can spend over 1200 dollars for 12 ounces of silver. Holy Crap. I totally agree with you rightside.

[rightsideofhistory]

Unfortunately guys, while I respect your loyalty, you are indeed being swindled. There is no physical difference in 1oz of silver (bar form) or 1oz silver eagle (coin form) or 1oz silver eagle "MS70" in a plastic slab. They're all $20 worth of silver. The markup/premium being imposed (which you openly show is all over the place) is arbitrary...anywhere from $80 to $150 in profit margin on top of a $20 coin. That is the only thing making your MLM possible. See video on my channel for more.

[SicaGR]

@rightsideofhistory - Once it's graded it ends up having a premium value due to it's condition.

[rightsideofhistory]

@SicaGR By going 5X in value? 500% ?? Thats quite the premium for no scratches. Frankly, First Majestic 1oz rounds are only $20 and blow the doors off ANY american eagle coin, MS70 or otherwise. They are gorgeous deep cameo with mirrored (see your face in it) centres. 20 bucks. I'll never agree with a 1oz silver coin being $99, with spot ounce price being $18. I don't care how scratchless under a microscope it is.

[SicaGR]

@rightsideofhistory - See the problem is your looking at it as bullion. Once it's slabbed in plastic with a high grade it's not considered bullion any more. It has numismatic value. It's like saying the 1933 double eagle that sold for 7 mill is only worth spot. Personally I don't send them in to be graded & I hate it when people come in to sell one graded MS65 & want a huge premium for it either.

[rightsideofhistory]

@SicaGR Numis doesn't real with rare coins. They slab 2009 eagles. Next year they will probably be doing 2010 eagles. Simply pulled from Monster Boxes and sent for grading. They got them for $19 each. But no matter how you slice it, numismatics ARE bullion. They are a chunk of metal. The collector value whether its $99 or $7 million, is out of thin air. Personal opinion. Personally speculative. In a crash/collapse situation, their currency/barter value will be solely the weight

[SicaGR]

@rightsideofhistory I disagree but we will just have to agree to disagree. You will never find a 1933 gold piece for spot regardless of the economy.

If it's only worth the base medal than your change isn't worth what it says. For example the presidential dollar coin doesn't have $1.00 worth of metal in it.

[rightsideofhistory]

@SicaGR That is because change is fiat currency. No, it doesn't have the metal value in the coin itself. A $100 bill is made with 5 cents worth of paper and ink. That is precisely the point I am making. The value of fiat, and the value of numismatics, are public opinion. The additional value of a 2009 eagle in a plastic case you believe is +$80 above it's $20 bullion value... to me, I would only agree if it was 2060 and most were melted or destroyed by then. Rarity is key, then we agree

[SicaGR]

@rightsideofhistory Well, like I said we'd have to agree to dis agree. Your thinking of the Eagle as bullion. Numismatists don't. Hence the value change. If you want bullion then don't buy slabbed.

You just can't buy them directly from the mint and they are always sold for more than silver due to that.

[apalm20]

@rightsideofhistory It makes no sense to pay them $500 to start up! RED FLAG NO.1. RED FLAG No. 2 was when I found out that you have to purchase one of these overpriced coins every month. Instead I started dealing with American Gold reserve The site is under construction and wont be fully launched till mid Aug. 2011 They're like numis except you pay no start up fee, and you don't need to buy overpriced coins every month. It's FREE! Sign up with sponsor name "orphan"

[covellz]

I think we should push this video viral Layla...especially with the new storefront we each have now.