Question by Beachboy: What is the best year to purchase a American Silver Eagle?
Lately I have been very interested in investing in silver. Gold seems like its way to pricey for just one ounce, but silver seems like its perfect, especially for the "average joe." Although, I am not completely sure what the difference between bullion silver and numismatic silver. I purchased a very pristine looking 1883-0 Morgan Silver dollar the other day. Doing my research I believe this would fit into the category of a numismatic coin due to how it looks, when it was made and i'm sure of a whole lot of other stuff. Correct me if i'm wrong but i'm pretty sure it has 90% silver as well. Now if I want to be an investor in silver, would buying an American Silver Eagle, or other silver coins be best because they contain 99.9993% silver? I would think so, what do you think??
For a new silver investor, what would be specific silver that I could invest in without having to worry if it would ever be seized like what happened with fort knox??
Also, if buying coins like an American Silver Eagle, what would be the best year to purchase it at?
As much info you can provide would be greatly appreciated!!
Best answer:
Answer by Scott Stevenson
You are absolutely right--the Morgan dollar (and essentially all our silver coins made before 1965) is 90% silver.
If you're looking to buy ASE's just for their silver value, then you'd want to stay away from the proofs, which are prettier, but carry a premium, and a couple of years that have a numismatic premium on them. I've got a link at the bottom that should take you to a page by PCGS that shows the expected prices for coins that they've certified. Since silver is about .50/ounce today, you'd want ones that are around to bucks, which allows for the dealer to make a little profit. Anything more than that, and you're no longer buying for just the silver.
An alternative to buying ASE's would be to look at "junk silver"; pre-1965 silver coins that don't have any numismatic premium attached to them. You typically buy them by face value, and figure about .75 ounces of silver per dollar face value. Once nice thing is that while they don't have any numismatic value, you often get an interesting mix of coins, maybe even some of the Barber coinage from the turn of the 20th century. If you're worried about confiscation, you can always buy a couple of folders, and make it look like a coin collection.
Add your own answer in the comments!
[wprebay kw="silver+eagle+bullion" num="30" ebcat="11116"]
[wprebay kw="silver+eagle+bullion" num="31" ebcat="11116"]
[wprebay kw="silver+eagle+bullion" num="32" ebcat="11116"]
Originally posted 2011-02-22 09:16:06. Republished by Blog Post Promoter
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