i have roughly 100 silver eagles and about 10 chinese pandas. the pandas are all from the late 90's up to this current year. i was thinking of trying to sell all the pandas (hoping for a slight premium) and then purchase a 10 oz bar. i then plan on purchasing a 10 oz bar every so often as i would rather go this route for my bullion purchases. i will also keep buying some eagles each year as well. any thoughts? i like collecting the pandas, however, i do not like the premium one must pay and i am hoping to purchase silver more regularly, with the 10oz bars being more effecient in my mind. thank you for any and all thoughts
Nobody in the world can tell you whether the pandas or the bars will turn out to be the better long term investment. There is probably no harm in doing what you suggest. It's sometimes more important to be comfortable with your silver than to try to guess what is best.
I know what you mean by a premium on pandas, I bought my first one tonight, I bought it not for bullion though but because I wanted an example of one for my collection. It is a cute coin. I also like buying silver closer to spot prices and for that you cannot beat the ten oz. bars, you still pay a bit more than bullion price, but usually far less than coin prices. I found one of the best sources for old silver bullion coins is the local flea market before holidays, they usually have anywhere from ten to twenty percent off, they usually sell old bullion coins from the seventies for 15 bucks, with twenty percent off I get it for 12, I like that
thanks cloudsweeper. yeah, i realize that. i am just looking for some practical advice. i realize the pandas come at a premium and will go for less a premium, but i am just looking at my longer term plan. i am looking more for more bullion rather than the appeal of the pandas appearance. i just think the 10 oz route would be a better way to get there. along the lines of what you said, this route is more comfortable for me...while i am also guessing (or hoping) it is also best. thanks again
I'm very good at seeing downsides, way better than you need, so take this with a grain of salt. The downside is that you're incurring a round of buy/sell spreads, and paying a capital gains tax now that you could have deferred until later. Which may well be worth it for you, of course.
I wouldn't sell the coins you already have just to buy bars, I would keep the coins and buy bars in the future if that is what you want to do.
i have been busy, and am still weighing my options. that said, there has been a nice spike since my first post. thanks for all the thoughts.
Sounds like you want to sell pandas and ace´s becouse you want MORE silver, right? ) But hey, thats a good thing! If you going to sell, sell now. Silver is now 17.40!
more or less, but just the pandas. it would be nice to sell them soon and see a drop for a time....but it is just as likely that i sell and the trend up continues. :smile
I think this is just why i never sell everything. If i sell, i sell some and make sure i made some profit of the sell. I have every silver transaction in my exel sheet, with info how much i payed it, where did i bought it, how much was spot at the time, total buys and sells etc etc. This is one part of my silver hobby, keep perfect track and info. Its pretty nice! Ecpecially when you are selling something and thinking how much i payed it. Maybe this was also a good hint to someone
ha ha! no problem there, trust me. we must be cut from the same cloth, as, well, i do this with everything. i mean everything. all my bank, investment, paypal, ebay accounts....everything. it is just the way i am wired (as is my father, and his father as well). me and OCD have a wonderful relationship. thanks for the laugh...at myself
