Hello everybody, I've been buying a mixture of 1oz items for a few months now but was wondering, does it matter what I buy (as long as I'm not paying too much over spot)? Would I be better off with American Eagles, Canadian Maples or Perth Mint coins rather than rounds like Buffalo's or Scottsdale rounds and bars? Is it really an issue at all or really just a bunch of fluff and 1oz of silver is 1oz of silver? At the moment I'm inclined to go with rounds at a lower price, especially as prices rise (and because I kind of like Scottsdale stuff). Thoughts? Edit: I guess what I'm asking is, is there any advantage to buying an American Eagle (for example) over a round? Or is there any disadvantage to buying rounds? Or is none of this more important than just buying 1oz of silver as close to spot as possible no matter what is stamped on it since if and when you sell, the buyer really is only going to consider that its 1oz of silver and maybe the condition its in? Am I answering my own questions here?
Maybe consider larger bars or coins. Prices closer to spot than 1oz. Also beware of fake products. If you constantly chase the cheapest deals regardless of brand or who the seller is there is a reasonable chance you will encounter some. Try using the search function for threads/pics about fakes on here. Fake Scottsdale bars exist as do many others.
Thanks Eureka, I have definitely considered larger bars but always end up buying 1oz because I want more flexibility if I sell later (but maybe I should buy a few). As far as fakes go I've only ever bought from the Perth Mint and Bullion Bourse. The extent of my looking at prices is limited to checking out the BB website to see what prices are today because BB give me great service and make me happeh.
meh if you need cash in a hurry they arnt worth the premium I got a price from a dealer in BRISBANE yesterday was offered $35 for an ASE was offered $35 for a buffalo round and was offered $35 for a kook / koala (all 1 oz coins) so as far as I can tell the extra premium is not worth it if you need the $ in a hurry. Im just going to buy bars from now on.
dont worry I didnt sell them <> I am not THAT desperate for money but was pointing out if you needed cash fast (and could not wait a week to sell here) coin or round or mint they come from makes 0 difference to some dealers offers. ( well my local ones <> the brisbane dealer was the best the one here on the Gold Coast was even worse price offered than $35)
I will buy kooks or ASE's all day long for $35... if you want to sell really quick... offer spot price to SS audience and you will not be able to ship it out fast enough!!!
I would be willing to wager quite abit of silver that if you posted the following... WTS: Rolls of Kooks at Spot... must sell in 24hrs... must be F2F You would still not be able to keep your cash drawer in order. In fact... if someone posted that in Sydney area... I would be buzzing them and organising a cash for kooks trade as fast as possible... even at a $1 over spot... I would be hustling. Shucks... I would even save you the cost of fuel coming to my end of town... I would pick-up at your door or favourite point of exchange. Beats hauling all the bullion to the dealer... parking is a real pain in the CBD.
id prob get the same response for the buffalo rounds @ spot + a $1 and they are a lot cheaper than kooks which was my point the extra you pay on them( and higher premium coins) is not worth if if you want fast cash for any reason. ( good for collectors or of if not pressed for time ) I solved my problem( car related) by borrowing cash off the Olds -- which killed me to ask but I did not want to start selling my stack that im working hard on building, but it opened my eyes a bit so will be purchasing mainly 10oz bars from now on.
Jester, If you offered the Kook's at spot plus $2 I would still be in hurry to get the cash in your hand before you changed your mind... Buffalo's at spot plus $1... only after I bought all your Kook's... the Buffalo's on their own... I would be lukewarm at spot plus $1... because I can get them any day of the week for $2 and abit over spot from various dealers. But the best price on Kook's is more than $5 over spot... in bulk buys. So Kook's are worth more than Buffalo's... even in a 'must-have' cash now event... least to me. You have to remember in an upward trending market like today's, must anything that is sold at discount will sell quickly, but in a flat market or declining market, I would venture to say you would see an even greater disparity between the value of Kook's and Buffalo's in a fire sale.
IMO stick to government issued silver coins, i.e. PM kooks, Canadian Maples, and ASE respectively. Anything dated pre-global economic collapse will confidently preserve your wealth.
That is just silly thinking. Date does not matter, nor will it, aside from numismatics. silver is silver is silver.
+1 Anything dated pre-global economic collapse will confidently preserve your wealth What makes you say that ,there is NOTHING to back this up
Pay your "olds" back in Gold and Silver from your regular PM buying. They may find a new found respect for you.
Thanks for the comments guys, I didn't expect to ignite a bit of a debate. So far I have the impression that I shouldn't worry too much as I can expect a fair price if I decide to sell something, silver is silver. But coins that usually attract a premium like Kooks are more attractive to buyers and will sell faster if offered closer to spot. Amirite?
I gave them half back in fiat and half in silver but I am going to buy it back from them over the next 2 months from my silver budget
