Better to buy bars or coins ?.

Discussion in 'General Precious Metals Discussion' started by mel1092, Apr 21, 2020.

  1. mel1092

    mel1092 Member

    Joined:
    Jul 23, 2019
    Messages:
    98
    Likes Received:
    23
    Trophy Points:
    8
    Hi everyone lately I have noticed it’s becoming increasingly difficult to sell Perth mint coins for the prices you paid for them or for a profit .but I do see people on here able to flip bars really fast. Are Perth mint bullion coins becoming a dying game ?.should I start to invest in bars and is it a good idea to buy 1oz bars.
     
  2. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    511
    Likes Received:
    137
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Between Perth Mint bullion coins and 1 Oz bars, i would rather choose pristine coins with an acceptable premium.
    10oz to kg bars are much lower in premium rather than 1oz sizes.
    If you can buy 1ozer bars in lowest premium cost, this is a good choice of course.
     
  3. mel1092

    mel1092 Member

    Joined:
    Jul 23, 2019
    Messages:
    98
    Likes Received:
    23
    Trophy Points:
    8
    Yeh I have noticed the bar premium for one ounce aren’t that much difference to coins .
     
  4. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    511
    Likes Received:
    137
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Whenever i buy coins, i make sure that they are in pristine condition.
    I lost a lot of beautiful coins because of wrong storage.
    Now, I keep them vacuum sealed immediately.

    With silver bullion coins/bars there is a little profit even flipping with monster boxes.
     
  5. mel1092

    mel1092 Member

    Joined:
    Jul 23, 2019
    Messages:
    98
    Likes Received:
    23
    Trophy Points:
    8
    Oh really so even in capsules they can go bad ?.
     
  6. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    511
    Likes Received:
    137
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Yup, some of PM silver coins issue are more resilient compare to world bullion but eventually slight toning of them will occur.
     
  7. mel1092

    mel1092 Member

    Joined:
    Jul 23, 2019
    Messages:
    98
    Likes Received:
    23
    Trophy Points:
    8
    So how you vacuum seal them .Just with one of these food vacuum things or ?.
     
  8. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    511
    Likes Received:
    137
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    yes, then throw small silica gel inside.
     
  9. mel1092

    mel1092 Member

    Joined:
    Jul 23, 2019
    Messages:
    98
    Likes Received:
    23
    Trophy Points:
    8
    Oh you mean just the little silica gel packs you can get off ebay .Thanks for the advice really appreciate it .I have a few 5oz coins that i will do that to hey just to make sure they safe .
     
    JNS likes this.
  10. JNS

    JNS Active Member Silver Stacker

    Joined:
    Oct 8, 2015
    Messages:
    511
    Likes Received:
    137
    Trophy Points:
    43
    Location:
    Traveller, Lives in hotel
    Hi, @mel1092 just some picts, no silica there but silica from vitamins, shoes and electronics can do.

    https://www.silverstackers.com/forums/index.php?media/img_20200421_220741-copy.5267/full
    https://www.silverstackers.com/forums/index.php?media/img_20200421_220717-copy.5266/full
     
  11. mel1092

    mel1092 Member

    Joined:
    Jul 23, 2019
    Messages:
    98
    Likes Received:
    23
    Trophy Points:
    8
  12. Jason1

    Jason1 Well-Known Member

    Joined:
    Aug 9, 2019
    Messages:
    636
    Likes Received:
    676
    Trophy Points:
    93
    Location:
    Qld
    bars, typically cheaper to buy, So you get more silver for your money, and you can sell them quicker as your less worried about reclaiming premiums.
    One milk spot on a coin and you have lost money and milk spots are common, plus there is a number of other factors that will kill premiums.
    they are a waste of time and money in many cases, more silver for less money is better so dirty old bars for the win.
    One ounce bars are also a waste if your talking silver far to expensive. Go at least ten ounce if not 1kg

    Gold is a different story, 1 ounce is fine just dont be buying those PM certicards, they are shit and no one likes buying them due to fakes
     
    slavaja likes this.
  13. SlyGuy

    SlyGuy Active Member

    Joined:
    Sep 6, 2018
    Messages:
    267
    Likes Received:
    175
    Trophy Points:
    43
    Location:
    USA
    I would not buy anything PM at all right now. Gold is going up, silver is going up (a bit), and premiums are way too high on silver. Other than that, decent advice on buying whatever you want and can get for near spot value... usually gold coins and silver bars.

    In general, crisis is the time to sell PM and buy stocks. Good times are the times to hold/sell stocks and stack PM. Best of luck.
     
    Alloy and ShadowPeo like this.
  14. ShadowPeo

    ShadowPeo Member Silver Stacker

    Joined:
    Mar 29, 2012
    Messages:
    263
    Likes Received:
    13
    Trophy Points:
    18
    Location:
    Melbourne, Australia
    I agree with SlyGuy, I have finished paying back one debt and getting my reserve cash back to where I wanted it, so I was going to funnel that cash into upping my PM stores, but the value for me is not there at this point, that and I am not going to pay a company in this climate on a promise to send me something at a later date. I will sit it out till it comes back a bit on the premiums. Whilst I agree in essence with Jason, personally I split mine into an desired number of a metal and an oz level I want to have on hand, in the case of those of anything that is fractional or a single oz I go coins, anything above that I go bars.
     
  15. mel1092

    mel1092 Member

    Joined:
    Jul 23, 2019
    Messages:
    98
    Likes Received:
    23
    Trophy Points:
    8
    Yeh I have noticed the premiums are very high atm .almost too high to be honest .
     
  16. Panzershrekt

    Panzershrekt New Member

    Joined:
    May 6, 2020
    Messages:
    7
    Likes Received:
    2
    Trophy Points:
    3
    @mel1092, @ShadowPeo @SlyGuy

    Hey guys thank you for your comments, I'm just curious what do you guys think is a normal premium price for silver?
    I understand there's currently a shortage for physicals so some dealers are jacking up the premiums.

    Is 8% premium over spot an acceptable price for kilo bars? Or is that price still too high and it's better to wait a couple weeks and hopefully the premium will go down. Many thanks for your help!
     
  17. ShadowPeo

    ShadowPeo Member Silver Stacker

    Joined:
    Mar 29, 2012
    Messages:
    263
    Likes Received:
    13
    Trophy Points:
    18
    Location:
    Melbourne, Australia
    Honestly, I have not tracked but premium percentage so I cannot tell you want I am averaging. I look at the spot and then look at what people are asking and go from there. In the past I have paid a little more on the premium side as I have gone with the stacker bars, these days I am not so fussed. Coins will always have a higher premium than bars though in my experience
     
  18. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    2,856
    Likes Received:
    1,136
    Trophy Points:
    113
    Location:
    Seedeneey
    supply and demand... if you're talking about metals in general atm, you can't buy anything with 8-10% premium due to pandamic/recession period that we're on...
     
  19. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    6,432
    Likes Received:
    1,352
    Trophy Points:
    113
    Location:
    Sydney
    Buy the cheapest piece of metal you can get at the time, be it bar or coin. Buffalo coins v Morgan bars are much of a muchness. Premium coins are for flippers. If you are happy buying and selling in onesies then go for it. It is easier to buy 100 generic rounds, or 10 x 10oz bars, or 3 x 1kg bars and then sell them without worrying about premiums, also makes GSR swaps easier.
     
    Jason1 likes this.
  20. ozcopper

    ozcopper Administrator Staff Member

    Joined:
    Jul 17, 2009
    Messages:
    16,912
    Likes Received:
    2,993
    Trophy Points:
    113
    Location:
    Australia
    Premiums on fractional gold are crazy. 1/20th oz gold coins sell for $200 or more, That is $4000 an ounce vs $2600ish spot. When I was stacking 1/25th and 1/20th oz coins you could get them for 10% over spot, and the you could often get the 1/25th near spot off ebay!
     
    jultorsk and Aurora et luna like this.

Share This Page