New Silver Coins : I need information about where to buy them?

Question

I am interested in collecting NEW silver coins (latest dates, ie. 2006, 2007, 2008) that are issued by the US government. Can anyone of you suggest a online site or any place around Philadelphia where i can buy new silver coins without paying too much above the listed price for silver? I heard some sites and shops sell for a hefty commission (profit) but I dont want to pay too much above the listed price of silver for that day.

I would appreciate your responses.

thank you.

Answer 1

I use MONEX. Check out all these links. They explain exactly why you should buy silver.

http://monex.com/why/silver_market.html

http://monex.com/expert/supply-demand-im...

http://monex.com/expert/indispensable-me...

http://monex.com/expert/china-factor.htm...

http://monex.com/expert/declining-dollar...

http://monex.com/expert/silver-bull-mark...

http://monex.com/expert/silver-now.html

What you are referring to is silver bullion coins. The American Eagles are available from MONEX. In order to get them you do have to pay a premium above the silver price. This is done for a couple of reasons.

1 because it is bullion and minted by the US government it is generally universally accepted containing 1 full ounce of silver along with a mixture of another compound for hardness. You are paying for the USA made label stamped on the coin

2 Bullion in bars is sold for slightly above the spot price but in order to resell it you have to have it assayed. That means that it has to be certified that it isn’t another metal that’s just silver plated. You have to pay to have it assayed.

3 The silver bullion coins can be used as money in addition to being bullion. It is recognized as such and easy to look up its current value.

4 the final reason the premium is higher on the Silver Eagles is they are in short supply. The US government doesn’t keep a reserve of silver and they must buy it on the open market. The demand is higher for the silver eagles and therefore they fetch a higher premium.

I would be buying the silver maple leafs. They are 99.99% pure silver verses 99.90% pure. The maple leafs have a $5 face value instead of a $1 face value. The commissions on the silver maple leafs are lower and you get more bang for the buck. I deal with MONEX and I’m happy with them. The downside with Monex is they sell the silver coins in lots of 100 coins each so at the current price 100 coins will cost you about $1920 in total. But its still a good investment and store of value. Silver is going to skyrocket to at least $60 an ounce in the next few years as the supply is CONSUMED never to be recovered again. Also as the dollar falls the price of silver will rise. Don’t be cheap today trying to save on commissions. You will regret it in the next couple years. Its better to pay more today then to quibble over the commissions and not get the coins. Silver will trade higher. Don’t miss out on this opportunity.