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 Replies: 13 / Views: 1,508 |
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Valued Member
United States
140 Posts |
Alright, so I've always wanted to buy either a silver bullion coin or any 90% silver piece (not dimes or quarters but something like halves or dollars), and after the holidays I see my chances of being able to obtain one becoming a very good possibility. I was just curious from the more experienced perspective, which coin would be the best deal, and be suitable for a first purchase? I've heard excellent things about both American Silver Eagles and Canadian Maple Leafs. Any input and suggestions are appreciated!
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Pillar of the Community
United States
1211 Posts |
I would reccomend something with numismatic value along with the silver. I am partial to Franklin halves. They are fascinating coins and they are a great coin for collectors on a budget. There are some amazing raw coins out there and sometimes you can find them at near melt prices. As far as dollar coins, you can't go wrong with Morgans or Peace dollars. |
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Pillar of the Community
United States
2541 Posts |
American Eagles can be purchased very close to spot price and they are very desirable to collectors, very liquid (any coin shop will buy them) and they look great too!
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Valued Member
United States
301 Posts |
If you just want to own some bullion, getting your feet wet with a few Silver Eagles is hard to beat. They can be had for a small premium over spot at most any dealer.
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Pillar of the Community
United States
1302 Posts |
Chinese Pandas are red hot!
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Valued Member
United States
426 Posts |
If it's going to be your first silver coin it definitely has to be something you can hold in your hands, flip and play around with as much as you please. There's nothing like the sound of silver and the beautiful feeling of "real" money.
I'd go with any nice morgan you can pick up for melt. With the dip in silver recently you should get lucky.
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Valued Member
United States
421 Posts |
I agree with going with something that will have a numismatic value just incase the rug is pulled out from under the silver market. I got lucky on ebay last month and picked up a semi-key date early walker for $1.75 over melt. It might be tougher than you think on e-bay with the sudden drop in price more sellers might be holding back and waiting to see what is happening. I know my local coin/ metal pawn shop actually raised the price for so called junk morgans to $35.00 and won't go lower than that. They were just selling these for $30 and change 2 weeks ago. You might get lucky. I would also go with the Franklins lots of better grade ones out there for a good price range. |
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Pillar of the Community
United States
2049 Posts |
Quote:
American Eagles can be purchased very close to spot price and they are very desirable to collectors, very liquid (any coin shop will buy them) and they look great too! Huh? Where are you finding ASE's for close to spot? The shops around here sell them for spot + $4-$5. As of this morning APMEX is selling them for $33.85 with spot at $29.56 so that's more than $4 over spot. They also buy them for $1 over spot at this moment. So I would love to get in on this deal where you are finding them for very close to spot. That just doesn't make sense to me...lol. |
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Valued Member
United States
239 Posts |
I too just started collecting.. I bought about 22oz of 90% silver this last week @ x23 fave value. Honestly, I would of went with ASE's because there really sought after.. Junk is good because it usually carries a low premium, but, online (ie, ebay) its hard to find junk at or lower than spot. I bought ~ 3oz's off of ebay paying $30/oz. But I have noticed that at this dip, most people are getting well above spot for most bullion. ASE's on ebay @ $40+! My next buy will be with APMEX, I will be buying ~ 10 - 15oz bars & ASE's. |
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Pillar of the Community
United States
2541 Posts |
coinhunter - buy in bulk and you get better pricing.
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Pillar of the Community
United States
2651 Posts |
+1 on a "common" date Morgan.
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Valued Member
 United States
140 Posts |
Very good suggestions I'm seeing so far. Thanks everyone! I did some homework and looked into all of these and I see very reasonable prices on a lot of them.
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Valued Member
United States
493 Posts |
If you have the spare time, get into roll searching, you can get some of your silver coins for free that way. Be patient and wait for deals, know what you want ahead of time. Don't give up on gold either. It's pricey but you can buy it in as small as 1 gram quantities which is the same price as basically two silver eagles right now.
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Valued Member
United States
321 Posts |
You can get foreign silver for near spot or even sometimes less if you look hard enough.
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Replies: 13 / Views: 1,508 |
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Posted 12/15/2011 10:06 pm
