Greetings to all. I'm happy to have found this forum. It's time for me to begin investing in precious metals in an effort to preserve wealth. I would appreciate any ideas or suggestions regarding the following conclusions I've reached thus far - After comparing APMEX, Provident Metals & Gainesville Coins I believe Provident Metals will be my choice for bullion purchases. I feel most comfortable accumulating American Silver Eagles or Canadian Silver Maple Leaf coins. I look forward to any feedback you may be able to share. Thank you.
Welcome to the neighborhood! You didn't say, but if you're contemplating buying certified Eagles or Maple Leafs, don't get 70's. 69's are much cheaper, and you probably won't notice the difference. Also, don't buy any certified coin that has "First Strike" or "Early Releases" on the insert. Chris
Can you elaborate a bit? I get the 69-70 thing, but why not the First Strike or Early Release? Not that I'd get them, as I only collect Proof coins, just curious is all.
Those are just marketing gimmicks that some seller like Coin Vault came up with to gouge more money from uneducated buyers. It adds nothing to the value of the coin. Chris
Thanks, that's really good to know. I've seen that one some of the coins shopping channels on TV. They sure do make it sound like it's more valuable.
If they could figure out a way to market it, they'd make alimony seem like a worthwhile investment. Chris
Welcome aboard! I have bought from Provident Metals and I am quite happy with their prices and their service. The only complaint I would have is that in my experience, it takes them quite a while to ship. But that's OK by me, because it's just going into the safe for the long term anyway.
Howdy, I'm glad you found the good folks around here. There is a wealth of knowledge that they willingly share. Sokay. I too like ASEs and Leafs. I've got former in tubes and a folder. The latter I've got in a folder. That said, bullion investing/coin collecting is a wonderful place to play. For example, there are dozens of countries around the world presently minting bullion coins. Chinese Pandas, Mexican Libertads, English Britannias, Austrian Philharmonics, gobs of stuff from Australia. Some of these coins are positively gorgeous and it's a nice approach for a 'coffee table' collection of bullion. There are also those that collect Silver Crowns. These are the large silver dollar sized coins from the past that often featured a monarch on the obverse. And there are those that simply want to stash away a roll of eagles and leafs every year and forget it. Geez, it all works for me. teehehe. Yeah, I do all of these and love it. As for shopping, I've bought here there and everywhere. Everyone has named their favorite and that good. Use this short list of good vendors and price compare every time you buy. Indeed, it's probably a good idea to buy from several different vendors over time. I'd rather cultivate a few different sources. The most important thing is that you do it in a way that you enjoy. For example, I've got a pillar dollar that while silver, cost a tad bit more than a simple ASE type premium. Fine. To my grand kids, it's a whole bloody history lesson. You've got the veritcal lines in our dollar sign represented by the Pillars. This is 8 reales or bits and when fraction currency was scarce, they would sometimes get cut into halves or quarter - dollars. A quarter was 2 bits, as in 'two bits, four bits, six bits a dollar' . . . or Pieces of Eight. Is it coin collecting or bullion investing? feh. Who cares. It's fun. enjoy, peace, rono
You can buy these coins with those inserts, there is nothing wrong with them, they sometimes carry a premium due to the label. If you find them without the premium, they are safe to buy. IMO, the early release/first release labels should carry no premium as it's only a label.
As I understand the first strike or early release deignations, they refer to the relative age of the dies used during production. I assume the theory is the newer the die the better the impression of the coin. While I don't dispute the logic I don't feel these coins are worthy of a higher price. I think I'm more interested in accumulating coins for their bullion content and not as much for their numismatic value. I'm focusing on coins for their market recognition & relative ease of redemption. I'm not looking for any certification at this time. I'm comfortable with the quality control of the products issued by the US & RC Mints. I agree there are several interesting bullion opportunities from several mints worldwide and may consider these as I become more familiar with these offerings. I need to feel comfortable with their market acceptance and redemption. My thanks to all for your useful comments.
Actually, it's much worse than that. It has nothing to do with the age of the die, as most people would readily assume. It has only to do with the date the package was shipped from the mint. To qualify for the "First Strike" designation, it has to be shipped within the first 30 days of production. Many, many dies will be worn out and replaced in the course of 30 days of production. http://www.pcgs.com/services/firststrike.html
What a great time to get into it. Check local coin shops for good deals... I like how Scottsdale looks and can get a premium if you sel on ebay http://store.scottsdalesilver.com/page/24/index Yesterday I found this place that looks reasonable for ASE and Leafs https://libertycpm.com/silver/
I just did my first purchase from Provident Metals yesterday, the 4th online dealer I've dealt with and so far the easiest and most seamless. The prices are tough to beat too. So good choice IMO :thumb: I don't bother much with numismatic coins, graded, first strike, etc. for stacking. I have a few pandas and lunars just because I like the designs a lot, and the positive side of numismatic coins is that you won't be shaken out of your position as easily when spot drops, but if the price of silver goes up in the long run it will probably eat into those numismatic premiums on a percentage basis. Look at gold premiums for example, very small compared to silver.
