Questions about purchasing physical gold and silver

    Posted by RichieD on 25th of Jan 2016 at 09:35 am

    I'm considering purchasing silver and gold coins.  A close friend has recommended two sources:  JM Bullion and/or GoldMart.  Any others I should consider?

    More importantly, I'm confused.  Been looking at the American Eagle silver dollar at JM Bullion and find price varies significantly by year.  If these coins are being sold for their silver content and not numismatic value, why is there such a disparity in price between coins minted in different years?  Is price based on age and/or quantity minted; if so, that would make price of these coins based upon numismatic value to some extent, rather than precious metal value.  Makes me hesitate. 

    I can't believe making a bet on physical silver (or gold) becomes more than just that (a bet on the value of the metal). 
    What am I missing?  Any advice on how best to proceed is welcomed.

    I have had a success

    Posted by jlevinthal on 25th of Jan 2016 at 05:45 pm

    I have had a success dealing with California Numismatic Investments  http://www.golddealer.com/ both by telephone, mail and in person. Be careful which coins you buy if for long term. I think the US gold eagle coins are still not taxable, but you should check

    Questions about purchasing physical gold and silver

    Posted by maverick on 25th of Jan 2016 at 10:02 am

    check out joel @Vaultwholesale as well. There is always a bid and ask for bullion / bullion related coins. The Eagles usually run about $2 to $3 spread to bullion on monster boxes. This is because there is a chance you can get Mint state 70 coins which do carry a premium over spot. I'd suggest you buy a silver monster box premiums are pretty low and demand is high, these are very liquid. I wouldn't recommend buying loose silver coins or junk bags Every year the previous year goes up just a little bit.

    As for numismatic value,  you shouldn't look at this 10% to 15% premium over spot

    as for numismatic value. Numismatic values start at 50% and move into the tens / hundreds of thousands over actual melt content. 

    My strategy is to buy rarity's with very low premiums, a good one these days are 12 oz gold panda coins. 1986,87,88 These coins have mintages under 3000 and trade just over melt value. If you have time to put them awa

    y for years / decades these represent

    very good values. Good luck

    thx for taking the time

    Posted by matt on 25th of Jan 2016 at 10:23 am

    thx for taking the time to post the info Jason!  I used to get that question a lot back when gold and silver were in bull markets, no one asks these days though the metal has been cut nearly in 1/2 since that time.

    For me if I buy physical I have a local dealer near me who fairly large, sells for good price and will buy back any quantity.  In late April 2011 I took the day off and sold my physical silver at $48 an ounce almost at the very top, Steve remembers me driving there mid day to unload it all, now Silver is in the low $14's!  If I had the balls back then and shorted Silver Futures, I could have retired LOL. Anyway I haven't purchased any physical since back in 2010, this area at least it's down over 40%, though longer term still in bear market.  

    Anyway before the local place, I bought from kitco.com, which was okay but also frustrating, and a couple times from Ebay (shudder never again LOL)

    I thought these coins sold for their silver value (a way to invest in physical silver), not because of rarity or for any numismatic value, but I'm starting to think otherwise.

    yep I'm not sure, I

    Posted by matt on 25th of Jan 2016 at 12:16 pm

    yep I'm not sure, I always bought the 100 ounce silver bars myself, those were impressive to show neighbors at times LOL, the size of a brick.  Apparently they also sell 1000 ounce silver bars, but my god that has to be the size of a loaf of bread! 

    anyway funny story I heard was some guy bought 100 oz silver bars and painted them black and used them as door stops LOL so if someone broke in, they would never think to pick up those ugly black $2000 door stops off the floor Tongue Out

    thanks for the gold/silver physical

    Posted by hazbin1 on 25th of Jan 2016 at 10:45 am

    thanks for the gold/silver physical update. I've been curious about the current environment. I wasn't paying proper attention when Matt sold his silver, I waited for the next bounce and only got ~$42+. I keep looking at that ~$14 but Matt hasn't rung the bell to buy mine back. so i'll wait, although it is tempting. good trading. Haz

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