Suggestions For Buying Silver Eagles With Income Tax Return

One suggestion: Buy from a large bullion dealer like JMBullion.


While not American Silver Eagles, if you are a new customer of JMBullion, you can get 10 one ounce rounds of silver for whatever silver spot is that day with free shipping.

Rainman -

Are you looking to get the ASEs as a Ag bullion investment? or are you looking to collect a year set of ASEs from 1986 onwards?

If it's a Ag bullion investment, you're usually better off to save until you can buy a roll of 20. The price per coin is usually cheaper. Additionally, if you then get a random year roll, versus a given year's roll, the price is usually cheaper yet.

If you're looking to purchase single coins from each year to start an ASE collection, then you might want to check out ebay auctions and see what they've been selling for before making a purchase.

Also check out local coin shows. The last few I've been to they've had a few vendors selling every year from 1986 until now for only $20 each. As you know some of the older ones usually go for more. It has allowed me to fill my collection to only needing a few more

If you can't get out of continuous credit card debt, pay that first.

If you manage that well, then:
do you have a mortgage? - That's the second preference for investment. Just wait for borrowing rates go over +10%, some years down the track.

If you haven't got a mortgage, then:
If ASE's, for investment, include them in your superannuation portfolio, to be tax protected on any investment profit. In this case, make sure you comply with tax Laws.
Otherwise, you just end up tracking the bullion price, and pay tax on any profits you make.

How about a silver bar of maximum appropriate size? In this case, the premium would be the lowest.

Rainman,

I don't think I can offer that much help on this as I don't collect ASEs, but several folks on CCF do and maybe they will offer some advice.

I do know that one thing to keep in mind is that there is a difference between the bullion ASEs (except for the early years) that don't have a mintmark, the UNC ASEs that have the W mintmark and proof ASEs that have P, S and W mintmarks.

Also, you should realize that if you want a "complete" RedBook set that there are many coins and $200 won't get you very far. You'll end up spending several thousand dollars (the 1995W Prf is a few thousand by itself) if you go for a "complete" set.

I'm sorry, I read this a few times but still don't understand what you're saying. Could you please further clarify. I always feel like even though I am doing well for myself by investing and not just purchasing junk, I am not doing it as wisely as I could. Thanks!

If you haven't ordered before from BPM, then you are eligible for spot silver deals:
https://boldpreciousmetals.com/bold-welcome-packs/

A superannuation investment advisor said to me that it is OK to invest up to about 5% of your superannuation retirement portfolio in coins, stamps, artworks or bullion.
The taxes on any profits inside that environment are less that what it would be outside the retirement investment area.
Perhaps this may be the tax environment in which to invest and hold your ASE's.

I am legally a company director of my own Self Managed retirement Superannuation Fund (SMF). May sound a little convoluted, but tax Laws in Australia are specifically written to allow this sort of investment. The Fund has to be externally audited to comply with tax Law, and is continually monitored by the Australian Securities and Investment Commission, the Government watchdog for Australian companies and investment Funds.