Preferably at or below the Silver Spot Price
If you spend more up front, the price of silver must rise more before you can recover your investment and earn a profit. I’m a big fan of silver, but purchasing coins at a 15% premium to market is a lot less hazardous than paying 50% over spot for 2020 American Eagle.
2020 American Eagle have the lowest premium prices. It’s possible to get silver rounds for a lower price, but keep an eye out for coins with unusual mintages that are difficult to resale. Rare coins will command the greatest price. The greatest advice is to educate yourself on the numismatic market before becoming involved. Proofs are included in this. Prices approaching bullion levels and reasonably well-known mintages make semi-numismatics appealing. The silver Pegasus is a great illustration of this. It’s a beautiful coin, and it’s valued around spot.
Don’t Make Any Assumptions
Purchasing a rare coin is essentially a bet on the coin’s future worth. Your investment is closely linked to the price of silver if you purchase standard bullion silver coins.
Numismatic coins aren’t sold by all coin dealers since coin collecting is a whole other beast itself (including bestcollectiblecoins.com). There are no collector coins available since the owners aren’t coin collectors. They also don’t want to market specialized goods when most investors simply want bullion, therefore they don’t provide it.
Third, it’s simple to resell
You want to purchase something as an investment that will not only increase in value, but also be simple to sell. Do not sell something which will take a long time to sell, which will fetch a poor price or which will not have many customers.
These issues may arise with rare coins from time to time… A potential buyer may wish to verify a coin’s worth or authenticity before making a purchase decision… Alternatively, they may give you a lower premium than what you originally agreed to pay… They may not even want to purchase it. Additionally, your client base is considerably smaller since most investors aren’t coin collectors. Proof coins are not exempt from these drawbacks.
On the other hand, sovereign coins are instantly recognized throughout the globe, can always be sold for close to the price of silver, and have a huge following.
Listed below are the six most popular sovereign American silver coins throughout the globe. Silver is included in each coin to the tune of one ounce, with the amount and purity clearly stated on the coin itself. Government-guaranteed and legal currency in the nation of issuance, all of them. Last but not least, you may save all of these pennies in your Individual Retirement Account (IRA)
Retailers that sell their goods via the internet
An apparent danger of purchasing from an online vendor is having to pay up advance and then trusting that the merchant delivers what you want. A well-established internet dealer, on the other hand, is unlikely to have this problem; they don’t want the word out that they take advantage of unsuspecting customers. You may also utilize your bank’s chargeback policy if you paid with a credit card.
And, as previously said, even after shipping and insurance charges, an internet dealer may be less expensive than a local one.
Choose an online retailer based on the pricing of their products, as well as the costs of shipping and insurance that are listed on the site (you may have to search for these fees). However, a dealer who refuses to display pricing may just be trying to get you to contact so they may try to upsell you. As a consequence, transparent dealers should be given more credit.