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Silver Coins, Not Bars

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Lobo
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Silver Coins, Not Bars

Post by Lobo on Sun Jul 17, 2016 3:29 pm

QUESTION:
I have purchased over some time 500 silver coins from a coin dealer in my city of Gainesville, Florida.  I don’t know if purchasing silver/gold in this manner is the most cost effective way, being that one needs to pay extra per coin purchased.
Is there a better way to purchase/sell gold/silver other than a local dealer?  Is purchasing and holding physical metal better than paper?  What might be the recommendation from Armstrong Economics regarding this?
ANSWER:
You are better off with coins rather than bars. Coins are more recognizable to the average person. Common pre-1965 US silver coins are better. No rare dates or premium for high quality. Stay away from the collector coins.
In gold, the same would apply. I would prefer common $20, $10, and $5 US gold coins. You can always claim you are a coin collector. That at least worked back in 1934. Maybe it will work again, but Teddy Roosevelt was a big ancient coin collector so Franklin knew that and excluded collector coins.
https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/silver-coins-not-bars/

    Current date/time is Sat Jun 24, 2017 9:19 am