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 Posted - 01/25/2007 : 16:26:40
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I would like to start investing in gold and mainly silver coins, but do not know if what I am buying is at a good price. Can anyone recommend some places to purchase coins?
Also how to I follow the precious metals in terms of their value in coin form related to spot prices?
Thanks.
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Frugi
Administrator
USA
627 Posts |
Posted - 01/25/2007 : 17:35:17
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You must be logged in to see this link. This link will answer all your buying and selling questions along with daily updated charts on the value of gold, silver and also base metals such as copper. Why worry about getting burned on a silver purchase, instead you should focus on saving your pennies especially the ones before 1982. It is a risk free investment, and they will go up in value at about the same rate or faster than silver.
Real Eyes Realize Real Lies
Buy Less. Work Less. Live More.
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Posted - 01/25/2007 : 17:55:58
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Wow, That site was really busy. I am looking for something a lot less flashy.
The reason I do not save copper coins is that I do not have the time to hand sort out the pre 82's. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 01/25/2007 : 18:39:55
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On the site
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near the bottom it lists US Silver coins and their daily price values.
For buying silver or gold coins, there will be a premium over spot price which will be the sellers profit. Don't be angry about this, the spread between the buy price and sell price is the sellers profit that keeps him or her in business.
You did not mention the state you live in, but I believe that there will be coin shops, pawn shops and the like in almost every state.
Start slowly, don't be in a rush to buy everything you see. The coins have waited this long to be bought, they won't mind waiting a few more weeks longer.
E-bay used to be a good site to buy coins, but with more buyers out there, the good deals are getting hard to find. Check the Buy Sell Trade section of this forum since members sometimes sell or advertise their sales on e-bay.
This site lists the most current prices of US cions
You must be logged in to see this link.
Hope this helps. |
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Posted - 01/26/2007 : 00:13:42
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| Thank you that pcgs.com site was helpful. I live in Arizona. I understand the coins will cost more than spot due to the manufacterer costs and dealer costs. I just want to get an idea of what percentage over spot is a good or decent price. I am worried that I will end up paying to much for the coins. I am looking for newly minted coins like silver eagles. I am not really interested much in their numanistic values, I am just looking for the metal itself. |
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Posted - 01/26/2007 : 01:27:17
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Welcome to the forum astinus.
I have found the people here to be very helpful and intelligent.
Even when we've had disagreements, I've been very impressed with how polite these people are.
In California, if you buy $999 or less of Precious Metal Bullion, you must pay the full sales tax rate, but if you buy$1000 or more, there is no tax at all. Therefore, I always wait until I am ready to buy $1000 or more before I buy. That means that I don't buy often.
I recommend that the very first thing you do is, call a coin shop in a major city in your state and ask about the tax policy.
Peace
.................................................
A billiard ball dropped from 1,362 feet (height of the South Tower) in a
vacuum would require 9.22 seconds to hit the ground. How then did the
towers collapse in 10 seconds and 11.4 seconds, and why has not one
member of the mainstream media insisted on honest answers from the
government in this regard?
"The individual is handicapped by coming face to face with a conspiracy
so monstrous [that] he cannot believe it exists."
- J. Edgar Hoover |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 01/26/2007 : 08:02:45
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Good point, Atheist, about inquiring about tax policy. I know that here in Arkansas they do add sales tax to coins, but I wasn't aware of the $1000 and up exemption. I'll have to check to see if we have that here. A couple of good sites to check are apmex.com, and tulving.com. They both have competetive prices. Even if you don't buy from them, you can check their price to see if you're getting a reasonable deal. I like the organization of the apmex.com site, and I have purchased from them once. Coinflation.com 's melt values for 90% silver coins apply to mint state coins. If you buy circulated 90% silver coins, prices should be slightly less to account for wear (count on 0.715 troy oz silver per dollar of face value).
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New to buying and request advice
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