Premiums on all silver coins are high across the board. Some are just slightly less high than others.

That is awesome that you do that for the boys on the football team. I have Peace and Morgan culls that I can give you at spot.

SD Bullion has 2023 Silver Eagle (limit one) for spot. Picked up a 1/10 oz Eagle to cover shipping. I haven't really looked all summer. Thought a little nibble was worth it.

https://sdbullion.com/deals

Thanks for reviving this! Order inbound!

I kind of think I understand.... OK the purchase is gambling the spot price will eventually increase even more. I foolishly sold my large denomination coins a while back. I think I still have all my dimes. I don't know where or how many. What I moved to is silverware, sterling 92.5. You can still buy it at antique shows for under spot. If you decide to try, take along a scale. Somewhere here I've got a bunch. Normal price for a fork or spoon is like $6 each. Not really based on weight, so you can buy a whole bunch for well under spot.

But as an aside, be careful. At a gunnshow a while back a guy had a couple of $20 gold pieces (not for sale or I'd bought them). He also had a magnet. The real things just lay there like gold. But the one he had that was so amusing the magnet just picked it up. He said "China". I have no idea if true or not. No one fakes silver dinnerware to sell it for under spot. Might not be worth attending antique shows, but if you're going anyway its something to look for.

quote:

Originally posted by SigSentry:
SD Bullion has 2023 Silver Eagle (limit one) for spot.

$9.99 off to get to spot price, with $9.95 shipping added back on...

More like "Free shipping on one 2023 Silver Eagle".

Knowing almost nothing about the process perhaps the hive can grab some crayons and draw me a picture.

Pulling 3 samples from the sdbullion website; all 2023 coins. All are 1 oz.

Perth mint kangaroo is .9999 fine silver BU for $28.65. Perth mint koala is $31.45; same specs. American silver eagles are $33.97 but only .999 fine silver.

I understand the concept of rare coin collecting but when investing what is the point of paying $5 more an ounce? While the coins have a monetary face value and are legal tender nobody is going to spend them. As long as it was stamped, made, minted, whatever by a company that is known to have a solid reputation in the industry does it really matter?

Dan

If your purposes for buying are "I have silver in case the dollar goes to shit" then the originating country shouldn't matter much.
I personally have some:
Eagles (USA)
Kangaroos (Australia)
Maple Leaves (Canada)
Assorted Rounds (note: a "round" looks just like a coin but is not minted by a country)

Eventually I'll likely also pick up:
Britannias (England)
Krugerands (South Africa)
Libertads (Mexico)
Philharmonics (Austria)

quote:

Originally posted by KBobAries:

Perth mint kangaroo is .9999 fine silver BU for $28.65. Perth mint koala is $31.45; same specs. American silver eagles are $33.97 but only .999 fine silver.
Dan

Need to keep in mind that there is zero difference in silver content between .9999 and .999 silver. All coins have 1 troy ounce of silver in them. Other than numismatic reasons, some folks prefer one over the next because some exhibit higher premium return on sale. For instance, you'll probably get spot plus a few percent on American Eagles but only spot for Kangaroos. Doesn't really help if premiums on eagles are 10% more than roos though unless, of course, the buy low, sell high thing covers it.

quote:

Originally posted by KBobAries:
Knowing almost nothing about the process perhaps the hive can grab some crayons and draw me a picture.

Pulling 3 samples from the sdbullion website; all 2023 coins. All are 1 oz.

Perth mint kangaroo is .9999 fine silver BU for $28.65. Perth mint koala is $31.45; same specs. American silver eagles are $33.97 but only .999 fine silver.

I understand the concept of rare coin collecting but when investing what is the point of paying $5 more an ounce? While the coins have a monetary face value and are legal tender nobody is going to spend them. As long as it was stamped, made, minted, whatever by a company that is known to have a solid reputation in the industry does it really matter?

Dan

Spot price is manipulated by the big boys. They can, and do, move markets every day. In theory, averaged over longer time periods the spot price of silver reflects industrial and investment usage. I am not convinced the long term average is highly correlated to supply and demand, but I believe it somewhat does.

Meanwhile, there is the real sentiment of bullion/coin stackers. This is where the premium over spot comes in. When there is high demand for coins or bars, the price goes up. Since spot doesn't react accurately, the premium soaks up the difference to what the individual investors feel the actual value is.

Some buyers look for the cheapest total price, while others believe they will recover a higher premium in the future and are willing to pay the higher premium now for certain mints or coins.

quote:

Originally posted by Fly-Sig:

quote:

Originally posted by KBobAries:
Knowing almost nothing about the process perhaps the hive can grab some crayons and draw me a picture.

Pulling 3 samples from the sdbullion website; all 2023 coins. All are 1 oz.

Perth mint kangaroo is .9999 fine silver BU for $28.65. Perth mint koala is $31.45; same specs. American silver eagles are $33.97 but only .999 fine silver.

I understand the concept of rare coin collecting but when investing what is the point of paying $5 more an ounce? While the coins have a monetary face value and are legal tender nobody is going to spend them. As long as it was stamped, made, minted, whatever by a company that is known to have a solid reputation in the industry does it really matter?

Dan

Spot price is manipulated by the big boys. They can, and do, move markets every day. In theory, averaged over longer time periods the spot price of silver reflects industrial and investment usage. I am not convinced the long term average is highly correlated to supply and demand, but I believe it somewhat does.

Meanwhile, there is the real sentiment of bullion/coin stackers. This is where the premium over spot comes in. When there is high demand for coins or bars, the price goes up. Since spot doesn't react accurately, the premium soaks up the difference to what the individual investors feel the actual value is.

Some buyers look for the cheapest total price, while others believe they will recover a higher premium in the future and are willing to pay the higher premium now for certain mints or coins.

And others just like to buy nice silver coins like creslin listed above knowing full well they're paying a higher premium then for a round. I have a number of them and think they're beautiful. Will I ever get my money back? Who knows. I'd like to think that over a long period of time prices for precious metals will rise even more but that wasn't my concern when buying them...

quote:

Originally posted by creslin: If your purposes for buying are "I have silver in case the dollar goes to shit" then the originating country shouldn't matter much...

No, not that. Bought one just to have.

quote:

Originally posted by pace40: ...there is zero difference in silver content between .9999 and .999 silver. All coins have 1 troy ounce of silver in them... ...some exhibit higher premium return on sale. For instance, you'll probably get spot plus a few percent on American Eagles but only spot for Kangaroos...

Thanks. It's tidbits of info like that which help.

Fly-Sig, thanks for those details.


Dan

Is there an amount that alerts somebody somewhere and then "someone"
Starts paying attention to your spending and purchasing ?

^^^^^^^^^^^^
Mandatory reporting of cash or cash equivalent purchase of $10K or greater. IRS form 8300.

They say paying by personal check is the best if you want to buy $10k or more. Cash if you buy less. Avoid cards or electronic if you want to avoid digital tracking.

quote:

Originally posted by Fly-Sig:
They say paying by personal check is the best if you want to buy $10k or more.

I would take care here. Bullion dealers are not required to report personal checks over $10K. That does not say that the bank drawn on won't.

Are there precious metal dealers that offer "deals"?

Maybe Purchase $9,400.00 per month for 6 months and then give you a swinging deal on the last purchase ?

quote:

Originally posted by bendable:
Are there precious metal dealers that offer "deals"?

Maybe Purchase $9,400.00 per month for 6 months and then give you a swinging deal on the last purchase ?

If you find one, let us know. Spot is spot. You'd be hard pressed to see a deal below it. You will find deals on premiums from time to time. Having an account at some of the larger dealers will get you notification of any deals.

Dollar cost averaging is a good strategy if you are buying a "significant" amount of coins or bullion. Timing the market is usually a bad idea.

Whatever amount may be "significant" to a particular person.

Rush Limbaugh had an unpleasant interaction when he would withdraw $9900 cash from the bank because of the appearance of trying to avoid the $10,000 reporting requirement. Even though he didn't reach $10k.

I prefer cash transactions for privacy, and would stay well below the $10k when buying coins or bullion. Maybe $9k and only once per week or per month. That would facilitate dollar cost averaging and not trigger government involvement.

Note when selling you are required to report profits on income tax. Selling $10k or more at any one time would trigger the dealer to have to fill out government forms. Don't run afoul of the IRS!

quote:

Originally posted by Fly-Sig:
Selling $10k or more at any one time would trigger the dealer to have to fill out government forms.

Actually, it's a little weirder than that.

Here are the only items listed by the IRS as requiring submission for Form 1099-B, and the minimum threshold quantities that must be sold in a single or related transactions before the form must be filed. Listed by item, minimum fineness, minimum reportable amount:


Gold Bars - 0.995 fine - Any size bars totaling 1 kilogram (32.15 troy oz.) or more
Silver Bars - 0.999 fine - Any size bars totaling 1,000 troy oz. or more
Platinum Bars - 0.9995 fine - Any size bars totaling 25 troy oz. or more
Palladium Bars - 0.9995 fine - Any size bars totaling 100 troy oz. or more
1 oz. Gold Maple Leaf - as minted - 25 1-oz. coins
1 oz. Gold Krugerrand - as minted - 25 1-oz. coins
1 oz. Gold Mexican Onza - as minted - 25 1-oz. coins
US 90% Silver Coins - as minted - Any combination of dimes, quarters, or half dollars totaling $1,000 face value or more

If an item is not on this list, sales of it does not need a Form 1099-B to be filed, no matter how large the quantity!

This, of course, does not absolve the seller from reporting profits.

Edit: My bad, forgot to drop a link.

Link

This message has been edited. Last edited by: pace40, August 05, 2023 09:02 AM