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Old 05-11-2014, 10:34 AM   #1 (permalink)
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Gold and silver coins as investments

I know some of you invest in coins. My question is about the cost. Where do you buy the coins and for how much? Where do you sell the coins and for how much?

I know the price will involve the current spot price for the underlying metal but the place you are buying/selling makes it's money too. So how much do they make and on which parts of the transaction? It will vary place to place of course but there should be an average.


And just to clarify things, I am 55 and am not an idiot. You can assume I know a few things about money and how it works.
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Last edited by MarkT; 05-11-2014 at 10:37 AM. Reason: Added clarification
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Old 05-11-2014, 10:59 AM   #2 (permalink)
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apmex.com is one of the bigger companies. Things always go on sale. Over the years I've learned that you need patience. Don't chase the price, just buy here and there monthly for dollar cost averaging.

So places:

apmex.com
gainesvillecoins.com

There are many others, but those two seem to always have the most consistent pricing over spot (dealer pricing).

Both companies will also show you the prices they actively purchase the coins back. All in all very simple.

That's the buy and hold method.

If you want to play the ratios or trade, I suggest doing that in the stock market with the ETFs. GLD, SLV, DUST, NUGT, USLV, and DLSV

...

Long story short, generic stuff has the lowest premiums while the government coins have the highest premiums. Of course the ones with the higher premiums have the higher demand and are easiest to sell. Think of it like buying a home in a good or bad neighborhood. Sure the bad neighborhood you can get more house for your money, but you still have to sell it cheaply. The one with the premium, you get that premium back when you sell it.

Here's what I mean about getting your premium (mostly) back.

The ASE: Buy Silver Online | Buy 1 oz Silver American Eagle (Random Year) Coins | APMEX.com

Is selling for $21.73 at it's lowest price there.

Spot is currently: $19.14 (that's the bid price, what you would "sell" for). So that's a big markup right?

Well, they will buy it back for: $21.14 - Well over the "spot" price.

These will always go on clearance / sale from time to time so you will be able to get that "best" price for only picking up 10 or even 1 coin. Just need patience on it.

Hit me up with any questions, I've been at it for a while and have my fair share of screw ups over the years, and have changed my position on generic to government stuff time and time again.

in the end, people will collect what they want to own or like the most. So unless you like numismatics (old coin collecting for it's rarity) skip the slabbed stuff and skip the old stuff.
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Old 05-11-2014, 01:06 PM   #3 (permalink)
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I've gotten my *** kicked on silver over the past few years, I bought in around the top of the market, I thought it was going to be more expensive. But now it's dropped into the sub 20 range, so I might wind up buying more just to lower the point I would make a profit at if I were to just dump everything.
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Old 05-11-2014, 02:23 PM   #4 (permalink)
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Thanks for the info Carter, considering hopping into this too, (slowly of course)... Any more info you care to provide is always appreciated, but thank you either way!
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Old 05-11-2014, 04:02 PM   #5 (permalink)
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Interesting. The cost of dealing in coins is still high but not as high as I thought. Thanks for the information.
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Old 05-11-2014, 06:54 PM   #6 (permalink)
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I would buy silver, it has a lot of industrial uses. It is sometimes not priced like a "metal", but more like a commodity. Right now is probably a decent entry point.

Typically the summer is lower prices and come fall prices start going up.
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Old 05-11-2014, 07:58 PM   #7 (permalink)
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Right now is a great time to buy silver.
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Old 05-11-2014, 10:29 PM   #8 (permalink)
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Quote:
Originally Posted by Painthappy View Post

The ASE: Buy Silver Online | Buy 1 oz Silver American Eagle (Random Year) Coins | APMEX.com

Is selling for $21.73 at it's lowest price there.

Spot is currently: $19.14 (that's the bid price, what you would "sell" for). So that's a big markup right?

Well, they will buy it back for: $21.14 - Well over the "spot" price.
The website says "Buy Price: $21.11 * This is the price APMEX will pay you when selling your items to APMEX. Subject to certain minimums."

What are the "certain minimums"?
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Old 05-11-2014, 11:46 PM   #9 (permalink)
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I do silver and gold in person, Hand to hand. Eagles, buffaloes, and at one time Canadian silver and krugerands.

I have another metal interest with kitco. That account took a hit because of the market (and my failure to keep an eye on the market and account at the time) but because it's a pool account, I can move the money around as needed between pools for switching up/diversifying the investment.

I'm admittedly young and have only been at it for a short time. I started playing with silver, watched the market for a year and came out on top. Bought myself a compy and am doing it again. My turnaround was when it was $18 or so and I sold when it peaked around $46 at one point.

I'm probably not the best for investment advice but I have my own share of success and pitfalls of small metal investing.
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Old 05-12-2014, 12:33 AM   #10 (permalink)
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And what is the cost of dealing in person? If you buy a silver coin for $X how much can you get for it 10 minutes later?
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