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silverbug22's Blog

14 Apr 2021

Monster Box of Eagles

Coins | silverbug22

Back in April of 2020 I decided to make an impromptu 24-hour roundtrip to Lynchburg, VA to pick up a sealed monster box of 2009 American Silver Eagles to resell. I had negotiated a buying price of $10,000 cash and to meet at the airport amidst a tremendous presence of security and surveillance. Despite a ton of preparation, I made 2 critical mistakes throughout this process. The first was that the box was sealed, but I didn't know a ton about monster boxes and refused to buy a sealed box I couldn't examine first, so I insisted that we break the seal right there in the airport so I could examine a handful of the eagles as well as magnet-test and weigh them. In my defense, I've done many, many in-person deals and always inspect the merchandise I am buying thoroughly to ensure it's not only as advertised, but also authentic. You cannot thoroughly examine a sealed box; for all I knew, that box could have been full of rocks. I did not realize at the time the enormous value lost when you break open a sealed monster box, but you live and you learn. My second and way more serious mistake was the turnaround time on the box. I ended up selling it to a local pawnbroker the second I got back from Virginia for $11,500. A 15% profit margin is certainly nothing to scoff at, but little did I know that silver was in the process of hitting an all time high, and had I held it for several more weeks, I could have made upwards of $3000-4000 profit (if I held for a few months I could have made $5000+). Despite those two hiccups, the process of getting the box was definitely an adventure and at the end of the day I got the opportunity to hold 500 BU Eagles at once for the first time as well as to make a little bit of cash. Flying with it was certainly an interesting experience as well; TSA was very intrigued by the box and getting it into the overhead bin was quite the physical feat. Overall, I'm pretty happy with the transaction and more importantly it was a very valuable learning experience for me.

Comments

CopperCollector

Level 4

Interesting buy.

Mal_ANA_YN

Level 4

hmm - frought with peril if it goes wrong

Monster box, monster hernia.

I. R. Bama

Level 5

Nice Flip, thanks for the insights too. I sometimes buy in Lynchburg, Curious if was private or a dealer? I may know them

Mr. B Coins

Level 4

Cool story. It seems like a good way to learn your two lessons. Never got into silver other than odds and ends. Stay safe, Mr. B

Cool! I would want to get one of those!

Mokie

Level 6

thanks for a great story, I happen to have one of those boxes right near me as I write this. Unfortunately it is empty but it makes for a great random coin set holder.

Mike

Level 7

I would guess the plane fare went into the sale also. . I have learned that the value of a coin is The feeling you get when you hold.it. I do not buy monster boxes either . I collect I dont sell . Nothing wrong with making a buck. My 27 year collection goes to my kids. They can sell all they want. I won't care then!!

Golfer

Level 5

Monster boxes are out of my area. Money to be made if you can do the transaction.

"SUN"

Level 6

Interesting purchase

Kepi

Level 6

Very cool story! Did the airport's TSA agent make you open the box??? Surprise! haha ; )

TheNumisMaster

Level 5

I wish I was lucky enough to buy at that time... Things got in the way and I lost a family member and the next thing I new, silver was at $30!!!

coinfodder

Level 5

The hold of the Silver eagle is not particularly the best hold. The palm may come in contact with the surface. You know what happens to silver when you touch it. Soft gloves may work fine.

silverbug22

Level 3

Absolutely, great point, was so exhausted from the 18 hours of travel it took to get there that I wasn't even thinking. When I was examining them in the airport I was wearing gloves, but back in the hotel I just spaced out.

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