Greetings All, I've been a numismatic investor in the past, but think it might be time to get into silver bullion because of the current low spot prices. Do you reckon bars are the way to go to avoid premiums and milking issues of coins? If anyone here prefers coins, please explain what the advantages are? Thanks in advance!
Hi Karoi I have sold all my coins,1oz,2oz,10oz,1kg,bullion or proof etc. If you have a time to deal, search, list, answer tons of questions numismatics for you. If you are working full time in non pm's job and want to invest on silver as a stacker bullion is the way to go as many will agree. From time to time its not gonna hurt to grab a bargain high premium coin or bar at very attractive/bargain prices as you can always sell it at least for low loss but most break even and make profit. Coins also differ, lunars are very profitable vs non lunars and mostly recognised coins are way to go if you want to pay high premiums, such as Perth Mint coins. Having said that new 2016 Kangaroo coins can be milked I heard from a reputable member but I havent seen them in person yet to confirm. Many trade here will tell you which ones to avoid if you arent fan of milking spots. Spots on coins = lower the premium = usually less people willing to buy at retail or near retail price. If you buy at spot you can always sell at spot to + (+$2 to + $3,4,5) per coin. Coins are a bit trouble to handle for me, some with capsules have markings on capsules, cracks etc so price will drop instantly. Postage also harder as you need to wrap and really take care when handling them. People go crazy as not to touch them bare handed as it ll drop the value as bars not concerned being touched as much as coins get upset. If I buy in the future its going to be only in boxes 100,200,250,300 oz to keep them in perfect condition and not worry them being cracked/capsules. Premium on coins isnt a bad thing as you pay and get the premium back when you sell. Providing not selling in hurry. Also if you can buy more coins say 100 in one go your per coin cost will drop nearly $2 coin which will save you $200 + when you buy. If you can hold on to them and sell later you can make profit. One more point to consider coin prices isnt changing as volatile as bar prices when spot moves but bar price will go up and down asap. If prices drop further its better to have coins but if prices go higher to AUD25 to 30 oz its better to have bars ??? I think... It all depends your plans short and long, buying power, tolerance levels of spot dropping, how many years you will be stacking/collecting, where will you keep your silver/gold, where will you sell, do you have any goals and does your strategy support your goal? All the best
if you want 1oz for liquidity I don't see a big advantage in buying bars over coins. Coins are much easier to resell and much harder to fake. On 10 oz and above bars have a better price and take less space.
Thanks for the responses; especially silverbait! There's some good advice here that I haven't found elsewhere. I'm leaning towards 10oz - 1kg bars, partly because I already have numismatic coins. Hopefully gold will drop to below US$1,000/oz next year then I'll start stacking that too
One thing to keep in mind is to have cash available at all times. At least you need to be able to access it within few days so you can grab some bargains here on SS forum. Also dont be shy to ask people if they can hold items for you so you can also ask for lay bys, swaps with any valuables not only cash. You need to be online and make sure to stay online if you need to grab those bargains as many will jump on them as soon as they are listed Good luck!
If you want to buy billion because of the cheap spot then you really just want whatever you can get cheapest. I take it you will be looking to sell when spot goes high so coin's or bars, milk spotted or not it won't make any difference so it should just be a case of buying whatever you can get as close to spot as possible with as low a premium as possible.
