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 Replies: 15 / Views: 4,021 |
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Pillar of the Community
United States
790 Posts |
This isn't really about coin collecting per se, but someone here might know. A friend of mine is interested in large quantity investments in precious metals (as in the physical stuff that can be stored in a safe or under the floorboards). I was wondering if anyone here did such things and knew about really good, trustworthy sources. I've seen dealers in brick and mortar stores charging everywhere from $20 to $23 for bullion ASEs, and I don't know if they do any large transactions. Anyway, these prices seem a bit much over spot for large buys, but I could be wrong.
I don't have a lot of money to drop on bullion buys myself; at best I might be able to spring for an occasional tube. Still, I'd be keen to know about good sources as well.
Also, I noticed Maple Leafs go for a bit less. Is there a reason?
Thanks, and please forgive any obvious ignorance. I told my friend I'd check, and I'm a bit confused by what I'm finding online.
*** Moved by Staff to a more appropriate forum. ***
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Pillar of the Community
United States
722 Posts |
This question has been asked before. I use APMEX (apmex.com) and have always been very satisfied with them. They're buy/sell spreads are readily available. I know that Silver Towne is also a very reputable source,. though I have never bought from them personally. As far as the Maple Leafs go, I guess it's simply because it's a Canadian product versus a U.S. coin. I think what's ultimately important is the buy sell spread. Your friend needs ask themselves what they're buying this for. If they're a "doom and bloomer," then I guess something with the backing of the U.S. government would be better assuming they live in the U.S. Silver eagles would probably be more recognizable and accepted....though not that much more I would think. |
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Bedrock of the Community
United States
11951 Posts |
Best place to buy silver .. is anywhere you can find it, the closest to spot. Most silver sells above spot. Average about $2 to $4 over spot. Dealers will buy back at below spot, Average $1.50 to $2.00 Below spot. If the places you are checking out are selling Maple leaf at less than Silver eagles, than they also might pay less when buying them back. I would look for a local dealer first, and compare prices with online dealers like APMEX or Provident. There are other good online dealers .. those are two that I have used with no problems. Just my suggestion. |
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Pillar of the Community
Canada
5244 Posts |
I do not know if your friend only wants the ASE or its equivalent, but "junk" silver and generic silver rounds can generally be obtained for spot from your LCS, once you have established yourself as a good customer. You might have trouble getting them by the truckload, though, unlike the ASE. Not all LCS have such a huge inventory. |
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Pillar of the Community
 United States
790 Posts |
I think he's talking large quantities. It sounds like he's going in with friends to buy a lot. And yeah,I think they're hedging their bets against a tanking economy. From the current spot prices, I suspect there's a lot of anxiety ahead of this election (I know I'm nervous).
I'll mention the junk option. It's a great idea if all he's after is the silver. Might take some legwork and sweet talk, but it could save him a few bucks.
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Pillar of the Community
United States
790 Posts |
Also thanks for bringing up APMEX. I'd looked at their site and the prices seemed good, but it's good to know they're reliable. |
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Pillar of the Community
Canada
3733 Posts |
any good dealer will buy back at spot +1$ for anything as recognized as bullion.. never under spot unless it is unrecognized.. good silver they should be buying at spot plus a buck, and selling at spot plus 3-4$..or look for a dealer who will..
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Pillar of the Community
United States
4901 Posts |
I would not hesitate to recommend a purchase from any of these dealers and I have used them all... APMEXProvident JM BullionSilvertowne MCM (for their ebay flash sales on ASE rolls) BGASC (5 oz pucks come with Air-Tites) Shop around and use the best price (mailed check) and remember to add shipping if not free If deciding between junk and bullion I would go with bullion. I do like the old junk halves though just because you can get some cool old coins for junk prices. More of a collector issue than investment. Got a crapload of Barber halves that way. Edited by Foxwoods Man
10/16/2016 07:49 am
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Pillar of the Community
United States
1450 Posts |
You know it can be dangerous to store bullion in your house or in a home safe. The plumber, AC guy or electrician that comes into your home may have criminal associates who would love to get there hands on that gold and silver. Many coin dealers have had guns pointed at their heads and asked to open the safe late on Saturday night. I think there is a service that allows you to buy bullion without having to store it yourself. It is called "GLD" and sells on the stock market but it is not a mining stock. I think buying bullion as an investment is a total crapshoot and an expensive one that pays no interest or dividends.
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Pillar of the Community
United States
4901 Posts |
Quote:
I think buying bullion as an investment is a total crapshoot and an expensive one that pays no interest or dividends. Correct and that's why I buy bullion that also has a numismatic component to it... Edited by Foxwoods Man
10/17/2016 1:02 pm
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Pillar of the Community
United States
3789 Posts |
I say- 1- only buy eagles, maples and some RCM silver bars. 2- buy more gold bullion than silver bullion 3- add some semi-numismatic value bullion to the purchase, like Pandas, Kooks as an example, and of course there are Libertads. 4- only buy bullion when PM market is in uptrend as it is now, as buying on a downtrend is a losing proposition, 5- on your gold bullion, buy a few slabbed pieces, MS 69 will be fine. Edited by yup7676
10/17/2016 2:57 pm
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Pillar of the Community
United States
4333 Posts |
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
3079 Posts |
What is the collected opinion on this place http://bullionexchanges.com/I have only purchased from JM and my LCS, but thinking of making a couple of larger purchases? |
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Pillar of the Community
United States
3789 Posts |
After MCM, Bullion Exchanges is my go to place for gold and silver. I have bought this year from them several items and they were shipping in a timely manner , in excellent condition and no delays. Whats nice about them is they are competitively priced and on their ebay store they have frequent auctions on popular items. Give them a try and I think you will be pleased. I rate them up there with MCM. |
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Pillar of the Community
United States
4333 Posts |
Trying MCM so far so good.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
533 Posts |
How is BGASC any history? How worn are their Morgan culls?
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Replies: 15 / Views: 4,021 |
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Posted 10/15/2016 5:04 pm
