I’m thinking of purchasing silver coins, any advice on which company to buy from?
September 14, 2010 by
Filed under Silver Investment FAQ
I’d appreciate it if you’d share your experience with silver investments. Thanks
September 14, 2010 by
Filed under Silver Investment FAQ
I’d appreciate it if you’d share your experience with silver investments. Thanks
my mom has bought coins from the US Mint and also from the US treasury. Make sure the places where you buy the coins are legit. there are other ones, but i would definitely try searching for them on google and READ CAREFULLY!!
Buying silver coins sounds like a losing proposition. You have to store them and if and when you want to sell them it would be hard to get an accurate price. Hard metal assets are a royal pain.
back to the drawing board.
I’d recommend buying coins on eBay. Modern coins are commodity items almost like bullion, and the competition among sellers there is fierce. If you’re looking for collectible coins then you can get a quantity discount by buying a lot from a dealer or individual selling off a collection. Again eBay is an excellent source. With collectible coins, especially ones that aren’t officially graded, you have to know what you’re doing so you don’t get caught in a bidding war and overpay.
Any dealer that is spending money advertising coins for investment is probably getting such a huge markup that the coin market would have to explode before you could break even. I know whenever I see coins and stamps offered for sale outside of hobby magazines, the prices are always outrageous.
Even if you get a great deal it’s very difficult to make money in coins unless you have the resources to buy large collections at a fraction of retail and then sell at or near retail. If you’re bullish on silver I think mining stocks are a much better way to leverage your money.