Hello, I'm completely new to the world of coins and would like to purchase gold and silver, possibly platinum bullion. This is for the purposes of portfolio diversification, hedging against other investments, etc., and not so much for collecting or searching for rare coins. For instance, looking at an american silver eagle and it's going for roughly $25 on amazon, but $17 on currencyandcoin.com (not a shill for any of these sites, just a google search). is there a reputable site that sells generic coins that you guys would recommend? any tips and pointers? Thanks in advance.
providentmetals.com is good. For purchases over $100 has free shipping. Apmex. and others, I'm sure others will chime in too. Don't forget to calculate in shipping on purchases to a per item basis. Some places shipping can really push up the per ounce price per item. With ASEs you may find different prices dependent upon the year. There's also slabbed (certified / authenticated) versions which may cost more. There's also Proof versions which tend to cost more.
Another pro-Apmex Guy here. Been dealing with them four years and am pleased with product and delivery. Don’t overlook your local coin-stamp shop. More often than not a good place to get good deals on bullion.
Apmex. JMBullion. ProvidentMetals. For starters, get ten 1oz silver rounds at spot: JMBullion Starter Pack. (Limit one per customer.)
More tips: -- When buying online from a reputable dealer, be prepared to decide quickly... during the day, bullion prices can fluctuate... your pricing might be valid for just a short time from the instant you add an item to your Cart. -- Look for free shipping; it usually requires a minimum purchase ($100 is typical), and the savings are worth it. -- Check in advance for applicable Sales tax. For example, California residents pay no sales tax for Apmex orders. Each website should have complete info, like Apmex and JMBullion. -- For best prices, pay by snail-mail check or money order. Your price is locked-in; just be sure your mail is post-marked within one business day or you risk order cancellation. You save about 4% compared with payment by paypal or credit card, but your order will take about 2 weeks longer. -- Apmex (and others?) allow online electronic checks for established customers; this saves time, but you still wait about a week for the check to clear. Bank wire is another option, but there's a big minimum purchase ($2500?). -- Use the tracking number to follow your shipment! -- Keep records of all your purchases. Start with your first purchase. Don't procrastinate. I use a simple spreadsheet. -- Investigate a precious metals IRA. But I don't trust others to store my metals, so I always take physical possession. -- Be paranoid. Don't show or tell anyone about your stack. My sister knows I have a safe deposit box, but she doesn't know what's in it. -- Consider where you'll safely store your metals. Eventually most folks realize it's MUCH easier to store 1oz gold than 80 oz silver. -- Until the U.S. Mint adopts anti-counterfeiting features, I'm not buying any more American Eagle bullion. -- What's your exit strategy? Sell to your local bullion dealer or pawn shop? Or you can usually sell to the same bullion dealers you bought from, like this. But watch the Buy/Sell spread (I'm not buying platinum buying again)... and you pay for insured shipping. -- When to sell? I'm waiting for silver to revisit $30/oz. -- Check the Silverbug site. Enjoy!
Wow, excellent advice everyone. Exit strategy... not sure. I'm in it for the long run, doomsday type scenario. Do you guys ship to home/work, and require signature for delivery? I've had hundreds of packages sitting at the front door, and contents whose value is in the thousands, but psychologically, this feels different... like leaving a pile of cash in a box in the open.
Also, thoughts on precious metals ETFs like ticker symbol GLD? Seems like some of you are also here for more than coin collecting.
https://www.ebay.com/itm/Lot-Of-4-S...h=item1ef1924190:g:8tkAAOSwM6FcJkVg:rk:4:pf:0 This is below spot on eBay from a seemingly reputable seller. As a non-collector, this is a good (read safe) buy? nm... it's an auction and may go up in price.
