OMG, I just learned the US Mint doesn't produce their own silver planchets for ASEs. I realize this isn't news but it was to me. I thought the mint produced the coins including the blanks themselves. So why not just buy silver bars produced by the planchet manufacturer? The cost difference today between a tube of ASEs and 20 1 once silver bars made in northern Idaho is $37 including shipping from APMEX. That's a considerable difference. I need to seriously reconsider silver coin vs bar ownership. What do you think?
Do whatever floats your boat. If I was a paranoidite preparing for Thunderdome and only concerned about the silver aspect, I would have bars. Being more of a collector, I lean toward coins because of some very attractive designs. It just depends upon which aspects of owning PMs is most important to you. I value eye appeal and production quality. Others value price, mintage, etc., etc. Neither is right or wrong.
ASEs are instantly recognized by anyone who knows anything about PMs. Sometimes it is hard to sell generic silver to a skeptical buyer. Especially when the Chinese and many Americans as well are making silver plated (insert heavy metal here) bars and selling them as .999 fine bars to people who may not realize it until it's too late.
Be mindful that even counterfeit ASE are already in the marketplace. A few bulletins have already been released by the NCIC indicating that brick and mortar dealers purchased fake ASE, and even fake proof ASE, with fake boxes and paperwork.
Like Treehugger said, buy whatever you want. WHY do you think things like ASE' s are made? Because a ton of people wish to collect COINS, and not bars, or rounds, or medals. The US made gold medals before they ever did AGE's and almost no one bought them. Being an official coin changes the nature of the silver to be something more, with many more collectors. However, if you only want the cheapest price per ounce, feel free to buy whatever floats your boat.
Yes, I failed to mention that fact. I purchase from a local dealer who buys directly from an official ASE distributor. I suppose there is still a slim chance he might unknowingly purchase fakes from a walk in customer cashing in his silver. But, my point is to find a dealer you can trust, and would back up your purchase if such a problem should arise.
One of the reasons I try and buy 90% US coins. Recognition plus I just like coins. The best of both worlds.
I have to agree, Kentucky. My last silver purchase was 90% U.S. silver. It is easily recognizable by virtually all investors, and is as easy to flip as ASEs as far as I'm concerned.
Howdy, Depends upon if you're collecting coins or acquiring bullion. Don't fret, you don't have to choose. Many of us are doing both. I'm both a collector of coins and an owner of bullion. That makes your question moot as the answer is Do It All. I like ASE's in tubes and am working on a year set of tubes. I have a set in Dansco. I also have Dansco albums for Mexican Libertads and Canadian Maple Leafs. Beyond that I love current and historic silver bullion coins from around the world. Modern are stunning - check the Pandas and Britannias - and the older ones are referred to as Silver Crowns as most often they had some ruler's face on the obverse. This satisfies the collector in me and also the bullion owner. And because we're talking coins, some have a numismatic premium over the others. As for bullion silver, I've got some Prospectors and 1 oz bars and rounds. I prefer the name brand stuff like Engelhard or Johnson Matthey. They're more fungible than some silver round from Billy Bob's Bowling Alley and Mint. However, because they're more in demand, they too carry a premium. Call it one for ease of exchange. enjoy, peace, rono
While I know this topic is about US issues, people elsewhere may have different reasons for preferring coins over bars. In Germany for example we pay 7% USt (sort of sales tax) on most coins that are sold above face (there are exceptions), while the tax for medals and bars is 19%. The reduced rate, which also applies to many silver bullion pieces, will be phased out by the end of this year. So currently it is more attractive here to buy, say, a 1 oz silver coin than a 1 oz silver bar (provided that the net price is the same) because of the tax difference. Some mints have taken that into account and issued silver bars with a face value. Anyway, as from 1 January that differentiation will be gone. Christian
I like rounds for 1oz size and bars for 10oz or larger. I've sold silver a number of times over the years and small buyers or newer people just seem to prefer the rounds. maybe all the different designs on rounds based on coins? anyway can't argue with the market as I've found it. everybody knows about the pre '65 silver but many get confused by how they're priced if new to silver investing.
I never really understood these arguments and the complaining about the huge premiums the mint charges. If you are buying from the mint, you are buying coins, not bullion. If you want bullion, rounds, etc... then compare Apmex to Provident, etc., because the mint does not sell bullion to the public, just collectables and COINS. I bought a '13 Buffalo that graded out at PR70.........the value when from 1600 to 2000 in about two seconds and it had zero to do with "premiums" and precious metal content, and everything to do with collector value. If you want cheap bullion, rounds, etc, then you sacrifice collector value of low mintage, legal tender, etc....but you gain prices that are half what the mint charges. At the end of the day, only you can decide what makes more sense. Maybe pre'64 coins would be a happy medium?
