Im new to the coin side of silver investing but i think i need a few coins in my physical portfolio, is there a downside to buying buffalos over maples or koalas etc? Is $3,819 a good price for 100 x 1 oz buffalos at the current spot price? Also is bullion bourse a safe site to buy from? Im new to the forum so any help is appreciated, cheers
To be honest for whatever reason Buffalos seem to have a slightly "less favorable" image over other coins. They may be a little harder to get rid of, but I believe you wont have any problem getting rid of them, there are many silverholics out there! You would sell them for less of a premium though but you are paying less for them, so it probably evens itself out anyway. If you like them, then go for it I say. Yes I have ordered from BB many times, they offer a great service, much improved.
Buffalos aren't actually coins, they're bars that happen to be shaped like a round disc. The downside to them is they have no legal tender status and that has tax and customs implications if you (or the person you ultimately sell them to) want to move them out of the country. The penalties for copying or faking them are nowhere near the same as if someone was forging legal tender coins. If I was buying a bar, I'd probably buy something bigger like a 10oz because the premium is lower. Your mileage may vary.
if you fake a buffalo you will be possibly charged with fraud, if you fake a kook you possibly will be charged with counterfeiting currency, which is a federal charge... they are a magnitude different. If you think silver will go to the moon and faking it will be more prevelant when you come to sell, then buy kooks, maples, fiji taku... etc coin ftw
Ok thanks for clearing that up, I wasn't aware that they weren't coins. Thanks for the quick responses
