I have noticed on APMEX that their 1 oz Silver Eagles cost more than their 1 oz bars, my question is why would you go with the Silver Eagles when the Silver Bars cost less and have the same amount of silver in them. Is it just collector value?
True, but coins like Eagles,Maples,Britainias, Kooks,etc. also have very intricate details that make them nearly impossible to be believably counterfeited. A bar usually just has large,generic lettering/logos that would be much easier to fake.
lol im hoping it drops to the mid $20s and ill jump back in and order more or if it starts rising again but if it goes to 24 ill be able to buy back everything i sold for 32 an ounce + lot more
I think the price will be back to normal in a few days.The price is going back up as we speak.As fast as it went down it can go up. You better buy quick at these low prices.The price is now 35.54 and climbing. I'M BUYING MORE
Whether true or not, my local PM supplier told me that ASEs are harder to come by even through the US Mint and they are getting charged a little more for them. They raised their spot price by one whole dollar. Who knows if this was a reaction to the declining price lately.
Yeah it seems like if the price went 'back to normal' it would be dropping another $15 or so, but who knows with all the factors that go into the pricing.
I've been buying ASE's. They are easily recognizable and being minted by a government will have more merit when using it for trade. I have the feeling there will be a lot of counterfeit silver running around whenever people are trading it.
A search online for "how to spot a fake Silver American Eagle" will return a couple of excellent detailed write-ups of the 'tells' - the shine and luster, weight and size, ring tone, beading, stamped detail etc and a trip to a Chinatown souvenir shop or Ebay will show you the ASE fakes, I agree there are poor fakes and good fakes but its still interesting to see them - the ones I saw for $1 each were horrid.
I've been skeptical of silver bars but there must be 'tells', anyone else know ? The weight is obvious so bring an accurate weighing scale, is the bar size standardized also ?
Where is a good source to buy silver? Are there any good deals still to be had at estate sales etc... or is everyone on board already and I'm late to the show?
I'm considering future purchases in silver dimes and quarters. Might be easier to use/sell since they are smaller in value. Might also have to go together with several other people to buy in 'bags'.
I have mainly invested in Silver Eagles, some of the silver maples, and even a some of the Mexico coins. I also purchased some of the Apmex 1/2oz rounds, and am looking at purchasing some American Buffalo 1/2oz coins too.
The Mexican 1oz coins I got are nice looking, on par with the silver eagles, in my opinion.
I called about buying silver eagles today.
They are asking 7 dollars over spot. Is that
about right or what? I have never bought before
so have no idea.
That's a bit high. Unless you live in the sticks, go to your local coin shop or a pawn shop and buy. I am paying $4 over spot on ASE's no matter what coin shop I go to and between $1.50-$2 over spot on rounds. I have only paid tax on two purchases on silver for a total of about 6 oz worth. All the rest have been cash deals. To me, paying tax on silver is just like an additional premium.
If you look back at 1929 the power brokers did the same thing, they are waiting for everyone to sell so they can scoop it up cheaper then when they sold.
Think about it, printed money is on the rise how can PM's go down?. Its a trick!!
I have a similar question in the same vein as the OP's...
Why is the price for the various silver coins different? Why is an ASE higher than a Maple Leaf, Koala, or a Panda?
If they are all .999, is it about the rarity of the coin?
If you were buying coins is it better to buy a foreign coin or a domestic?
Sorry if this has been rehashed elsewhere, but my head is spinning and I want to make sure I know what I'm getting into before I head into a coin shop for the first time. :
when things get really bad, will it REALLY matter if its an ASE or a normal round? If both are truly .999 - metal is metal... when things get tough, you can bet counterfeiters will be goind ASEs..and doing them well.
Id rather put my money towards legit .999 bars and get more physical for my money.
Name brand bars that will pass the weight and chem testing to show its real silver.
When things get bad, other than being visibly recognized, what perks do ASEs offer?
will they continue to bring $6-10 over spot when silver is sky high?
Actually, counterfeiting a silver bar would be easier IMO. You can take a lead bar, coat it in silver, stamp it with whatever bank or exchange you want and try to pass it off. A coin, would be a little more time consuming to counterfeit. The fine details would have to be counterfeited as well, you don't have those details on a silver coated lead bar.
From looking at the price of gold and platinum, I would say that the higher the price it goes, the higher the over spot gets.
Bry
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