Shopping At The Mint - Coin Community Forum

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Author	Replies: 7 / Views: 1,629
ctguy Valued Member United States 95 Posts	Posted 07/06/2013 10:32 am Hi, I'm new to searching / collecting / mint shopping so I thought I'd ask this question to see what others with more experience thought. The reason I mention getting coins from the US Mint is because I'm not experienced enough to just buy coins off ebay I understand PCGS slabs are probably 99.9% legit and have not been tampered with but I know from the Mint I can guarantee 100% and until I'm more experienced or build a list of sellers I can trust it's a good way to go for me. If I shopped at my local coin dealer what can I expect him to charge me over and above what I may pay at the mint, I'm all for giving business to my local folks and I know he's been there for a number of years but not sure how he "prices" a newbie. If I was to start shopping at the mint (modestly say a couple hundred to 1k a month) as time and money allows how why and with what strategy would you do it? I understand this is NOT investment advice just opinions from folks much more experienced than me. I understand a lot has to do with an individuals means and investment strategy, here is what I am thinking (I'm very open to suggestions as well), I like gold silver platinum and palladium in the precious medals category, at the moment silver is more likely the price range for me, I do believe Silver has yet to see it's finest hour. I am looking to be a long term investor but want to build fast on a modest budget for the best ROI if it's errors variety bullion sets etc. That being said I believe Bullion Sales/Mintage Figures affect an investment and may stand a better change of gaining value. What kind of coin produced by the mint has the highest possibility of being received as an error / variety? Am I better off purchasing commemorative over bullion bags over boxes and rolls over set new releases vs older releases? Below is a quick listing I put together from the mint. What are the investment advantages one over the other(s) if I missed one please feel free to add it to the list and comment. Bullion Sales/Mintage Figures Circulated Uncirculated Proof Bullion Coin Sets Commemorative Gold Silver Rolls Bags Boxes Thanks for answering a confusing question from a new guy. Report this Post to the Staff

OldSkoolMadSkilz Pillar of the Community United States 2077 Posts	Posted 07/06/2013 1:25 pm Shopping at the mint will limit you to only recent releases, but if that is what you collect, that's fine. Note that some items go up in value after selling out at the mint, but others drop. As far as what to buy, buy what you like. Personally I like the silver proofs. They look much nicer than the clad proofs. As far as buying bullion, the mint only sells numismatic grade issues of bullion coins. To get the true bullion coins that sell based on the silver market, you need to get those through an official retailer. There should be a list on the mint web site. Also, make sure you are shopping at usmint.gov. There are some retailers that have URLs that sound like they are the mint, but are just retailers with large markups. Report this Post to the Staff
ctguy Valued Member United States 95 Posts	Posted 07/24/2013 12:18 pm Thank you OldSkoolMadSkilz, can you please help me understand between: "As far as buying bullion, the mint only sells numismatic grade issues of bullion coins. To get the true bullion coins that sell based on the silver market, you need to get those through an official retailer. There should be a list on the mint web site" Why is one valued different than the other why is a coin sold as .999 fine silver not sell the same (looks aside) as any other coin of .999 fine silver and subject to sale according to the daily price of silver, they both have the same amount of silver no? I do agree with you I like all the added specialties of proof coins. Report this Post to the Staff
lknerr Valued Member United States 167 Posts	Posted 07/24/2013 12:49 pm Me personally, I'd go after silver proofs also. Report this Post to the Staff
biokemist6 Bedrock of the Community United States 12437 Posts	Posted 07/24/2013 1:03 pm There are three versions of bullion Eagles and the US Mint only directly sells two of them, the Proof and Uncirculated(Burnished Finish with W mintmark). The bullion version is for silver investment purposes, can only be purchased from a secondary dealer, and has mintages in the tens of millions. The Proof and Uncirculated versions are minted specifically for collectors and are minted in quantities limited to a few hundred thousand. Yes, the silver content is the same but their values are quite different. Report this Post to the Staff
ctguy Valued Member United States 95 Posts	Posted 07/25/2013 08:56 am Got it, Thanks I feel a bit better about my purchases now Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 07/25/2013 12:23 pm ctguy I hope you don't take this wrong because I do have your best interests at heart. You say you aren't looking for investment advice and then you comment clearly show that you are intending this to be an investment. You indicate that you plan to drop several hundred to a thousand dollars a month into this endeavor. You clearly have no understanding of the coin hobby or market. (A subject you can study for years and still not understand why it does what it does.) You are asking people you don't know from Adam for advice! Mutual funds buddy, Mutual funds. The returns might not be great, but you probably won't lose your shirt. Report this Post to the Staff
ctguy Valued Member United States 95 Posts	Posted 07/27/2013 09:34 am Conder101, No offense taken at all, quite the contrary I appreciate stepping up to the plate and replying to me, I think it's one of the many things that make coincommunity.com the finest forum out there, you have other members willing to give advice to us new guys and recognize when someone maybe in over there head and give them a poke and say so. To answer your question, yes I am new to collecting (Surprise!!) my question was meant more along the lines of education/advice and understanding the 5 W's that one uses to gain knowledge and understanding of what in the coin realm makes a good investment and the emotional (to have, to hold, to keep, to cherish, to want, to desire, each it's own different entity) and so the US Mint was one of the first places I went to see the offerings and realized, although I had an idea of what I was seeing I also realized I needed to ask some questions. I understand nothing on coincommunity.com should be considered investment advice. Very true saying and I do understand the statement - (A subject you can study for years and still not understand why it does what it does.) That being said I figure a small bit if shopping (like a new kid in the hobby) was ok and picked up some silver proof sets Uncirculated items and AM Silver Eagles, inside I know I can't go too wrong with these based on the cost outlay under slightly over a hundred bucks / silver content and mint quantities, for a start I feel I did ok and spent wisely and safely. biokemist6, Thank your for the explanation it did help Report this Post to the Staff
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