Why you should stick with generic rounds.

I wasn't meaning you sir, I was trusting you could tell the difference. I was meaning generically, if someone goes out to buy prospectors and not knowing what they are doing they had better had a good dealer they can trust. Same with most other rounds. However, I simply believe its easier to become educated on junk silver or ASEs than every type of round in order for a new person to be more protected.

No offense meant.

 

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To try to get this thread back on target, I sort of kind of agree with Detecto (did I say that ?). While ASE's do have some advantages, I am just not sure if they are worth $3.00 over spot. The reason I said sort of agree, I am specifically talking about OPM bars. I just don't know if they are considered generic. They are easily recognizable by many so it should not be hard to move them. If you buy them from Provident, the chances of counterfeit are slim to none, and PM will make good if you happen to get counterfeits. Right now a 10 oz bar is going for $197, which is only about $1.25 per Oz over spot, plus very low shipping. Seems like a much better deal than Eagles to me.

Chris, you have been talking about a monster box for 10 G's so right now you can get the equivalent with 50 10 ouncers for under 10 large.

 

I've been sticking with 1 oz rounds, I like 2oz rounds, but provident has been out of them for quite some time.

I would like to have a 5 or 10 oz bar, but if I ever get in a pinch, I can sell just one 1oz round, larger bars/rounds are not desirable for that purpose.

PM has the 1 oz opm round for $1.09 over spot.

I think once my "stack" get's bigger, I will switch some of it out for a 10 oz bar.

I like gold, but I can't see spending close to $140 for a gold coin the size of a dime.

 

Well I was figuring a premium when I sell of ASE's as well.

My problem with bars is selling. If I walk up to you Mike with "a 100 ounce silver bar", are you just going to look at it and give me a big pile of money? What would you do? Would you consider yourself safe if you simply tested the surface for silver? Would you want a sg test? Even then, how do you know there is not pot metal inside? So, for that, you need to drill it, melt the shavings, test the shavings, etc. Maybe then you are satisfied, but after a ton of work. Now, what will you DO with this bar? It no longer really is wanted by other bullion buyers, (since there are a bunch of holes in it), so off to the smelter it goes, and any premium is now completely lost, (in fact its a deduct to market value at this point). On the buyer side, what if I take it to you, you drill it, etc, but you are just a tire kicker and offer a low price? WTF am I now supposed to do with a bar with holes in it that does not weigh what it assays for?

Lets say you are a trusting soul and believe the bar. You buy it but do not drill it. Isn't it a pretty big risk you are taking if whomever you sell it to brings it back saying it was silver coated pot metal?

I am just saying these are pretty real risks in my opinion, risks that are not eliminated but very much reduced by buying junk silver or ASE's, (or philharmonics, etc). That is why I prefer not buying bars.

 

I agree with you that knowledge is key. No offense was taken. I also heard that the prospector fakes were quite good. I would like to think that I could spot a fake ASE but you never know.

 

I think you get the most bang for your buck buying something a little more interesting than a bullion ASE.
With a generic round or an ASE it is always tied to spot plus or minus a few dollars at most.
Put just a few more dollars into it and you've got something with real potential above and beyond spot fluctuations.

 

You should have some in my opinion,,IF gold rebounded to $1600 if would be worth alot more,,gold is gold,,,and silver is silver what ever form it is in round,coin,bar,nugget,blob whatever,,and that is real money..If you don't whant to drop the money for it put aside $20 or $40 per pay for the gold then get it and a few ozs of silver too..I try to put 10% of my bi weekley check aside and make a decision when i have a few hundred saved,,,if you buy it and regret it you will have no problems to sell it...I think you should just get one add it to the stack

 

Personally I'm all about the government minted bullion - for all the reasons already mentioned - plus it looks better! :thumb: My former LCS would sell "circulated" ASEs for the same price as generic rounds so I always picked them up when I could.

 

I don't see how it is possible but I have heard you can cash out an IRA and buy ASEs without getting hit with the penalty.

 

No. You can buy US minted bullion IN your IRA. I believe someone else has to hold them, though. So you are not cashing out anything, you are simply buying AGE, APE, or ASE as an investment choice inside your IRA umbrella. Same rules apply as any other investment inside the IRA, and same tax rules apply.

 

You can invest in silver (ASE's qualify) through an IRA as the investment vehicle, but unless there's something I'm missing, you can't cash out an existing IRA with no penalty just to turn around and buy silver with it. Also, although PM IRA's can consist of physical metal, you don't get to hold it in your personal possession. Any metal you buy through an IRA will be held in a secure location pre-selected by the IRA manager. A google search for "precious metal IRA" will give you all the information you could hope for on the topic.

 

"More bang for your buck" often equals "more risk." I've made good money selling Canada Wildlife Series bullion, for example, but it's often difficult to identify the next popular series, and paying a bit more for it in the hopes that it will grow in value beyond the price of the metal is a bit of a gamble. Nothing wrong with it, as long as you understand that you're speculating.

In fact, one of the reasons people like ASEs so much is exactly for the predictability of price on resale.

 

No way would i ever do than and not take posession,, no way!!