I see that APMEX is selling their buffalos for .77 over spot right now. I like the price and am considering buying. Does anybody know who makes them? They cost $1 less an ounce than ASE's and since it is bullion does it really make that much of a difference? I've bought them from other sources and they had a date on them and it appears their's do not, does it matter?
If there is no date, they are just silver rounds worth bullion. The United States issued dollar buffalos will have a date of 2001 and a MM of P or D A link or pic will help for us to be sure ---- Ok, I just looked it up, these are silver rounds selling at 99 cents over spot NOT US COINS http://www.apmex.com/Product/44447/1_oz_999_Fine_Silver_Rounds___Buffalo.aspx These ARE US coins, selling for $271.20 http://www.apmex.com/Product/57885/...y_Oz_Frasers_Buffalo_Nickel_Design_Proof.aspx
I believe that the Buffalo silver rounds were a weekend sale 'special' only and will end sometime today or this week. APMEX seems to only have these weekend 'sales' when there's been an uptrend in PM prices. Be careful of marketing. IF you want US Mint minted silver coins, consider looking at the bottom of Apmex's bulk silver dollar page. They sell 'junk' modern silver commems raw, often less per ounce than new generic rounds, new ASE, or other new silver bullion coins, but there are two qualities of these, so check the price difference: Silver US Mint Commemorative Silver Dollars $18.98 each Silver US Mint Commemorative Silver Dollars (Better Dates) $23.99 each vs. 1 oz. Silver Rounds .999 Fine - Sunshine Minting $20.21 each 1 oz (.999) Fine Silver Rounds - (Buffalo) $20.21 each
Yes. When you go to sell, you will recover the premium [and perhaps more]. There are many more collectors of ASEs than plain old silver rounds.
I understand that but what about a longer term type investment where you are just holding and not looking at trying to sell to collectors, just the bullion market. I don't want to buy in 100 or 1000 ounce bars, I think 1 oz is a better way to go, but just the physical itself. I realize that many believe the ASE is or will pay back the higher premiums, but is the only real answer the collectors?
In my opinion, ASEs will always sell at a premium because the weight and purity are guaranteed by the government. If you purchase a silver round or silver bar from some other source, regardless of how reputable they seem now, there will always be some doubt about the merchandise to cause it to sell at a discount. Just because something is marked ".999 one troy ounce" doesn't mean it is. So even ignoring the collector factor, the edge still goes to ASEs. But it shouldn't be ignored. Someday the Mint will discontinue the ASE series and the coins will immediately acquire a numismatic premium because demand will continue but supply will be fixed. But everyone has to determine what they want in a silver investment. Silver rounds are perfectly good investment vehicles. I just don't think they are the best.
OK, so I decided that you're right and bought 50 oz of ASE's. I bought 86,87,91,94 and 95s. Had to pay a bit more than the buffs but less than what APMEX is selling for (the generic date of their choice) so I'm happy. Thanks for the advice.
I have boughten these buffalos in the past, and have no doubt on their purity. There are ways of checking the purity of silver bullion these days anyway. The ASEs carry a slight numismatic value to them, but as far as the government backing their purity, I really don't buy it 100%. Yes I believe they are .999 pure, but I think people recognize them,and know their origin, and that's what brings the biggest premium.
