Posted on

1986 American Silver Eagle

FindBullionPrices.com
1986 Silver Eagle BU

In 1986 the United States Mint launched the American Eagle program. The American Gold Eagle and American Silver Eagle were established as the nations first and official bullion coins. In this first production year, the Silver Eagle enjoyed immense popularity that would lead to high demand the following year, as well.

The inaugural release of the American Silver Eagle coin was produced by the San Francisco Mint. The San Francisco mint struck both the BU and Proof Strikes of the coin. The San Francisco Mint would continue to mint both versions of the Silver Eagle coin until 1993 when proof coins shifted to the Philadelphia Mint. Bullion coin productions was shifted to the Philadelphia Mint in 1999.

The 1986 Silver Eagle was the first year the series was minted. It was also the first .999 fine silver bullion coin produced by the US Mint designed for investment. The mintage for 1986 American Silver Eagle coins was relatively high as was investor demand. The coin was released late in the year and was only sold for two months.

The mintage for BU Silver Eagles in 1986 was over  5 million coins.

It also marked the first year that Silver Eagle proofs were struck. American Silver Eagle proofs are marketed towards collectors. More than one-million proof Silver Eagle coins were solid in 1986.

1986 Silver Eagle Proof Coin

 

 

 

 

 

 

 

Coin Highlights:

  • 1ST Mintage Year of the American Silver Eagle coin from the US Mint.
  • 5,393,005 1986 Silver Eagle BU Coins Minted.
  • 1,446,778 1986 Silver Eagle Proof Coins Minted.
  • Contains 1 oz of .999 pure silver.
  • Carries a face value of $1 (USD) and is backed by the US Government for purity, weight and quality.
  • Features the iconic Walking Liberty design on the obverse.
  • Includes a heraldic eagle design with shield and talons holding an olive branch and arrows.
  • S mint marks on the proof coins from the San Francisco Mint.

With a mintage of almost 1.5 million coins, the 1986 Silver Eagle Proof is the largest Proof Silver Eagle mintage to date.

The obverse is Adolph A. Weinmans Walking Liberty design from 1916, which was also featured on the Walking Liberty half-dollar coin. This is complemented with the reverse design of the heraldic eagle of the United States by then-Chief Engraver of the United States Mint, John Mercanti.

Posted on

Various Dealers Offering Huge Buybacks for Enhanced Reverse Proof 2019 Silver Eagles

FindBullionPrices.com

The US Mint is releasing a new, limited edition Enhanced Reverse Proof 2019 American Silver Eagle coin at 12:00 noon on November 14, 2019. The offering price for this coin from the US Mint is just $65.95 plus shipping.

The mintage of this coin is limited to just 30,000 coins. It is the lowest American Silver Eagle mintage ever produced. Slightly lower than the 1995-W Proof coin that was only included as part of a special limited edition set. The 1995-W Silver Eagle Proof is one of the key dates for any American Silver Eagle collection.

Of the 30,125 1995-W Proof Silver Eagle coins produced, only 373 are known to exist with a PCGS grade of MS-70, the highest grade available. In a 2013 auction one of those coins sold for nearly $87,000.

There is a lot of hype surrounding the release of the new 2019-S American Silver Eagle Enhanced Reverse Proof coin. There is also a household limit of 1 coin allowed per buyer. Combined, it’s expected that demand for this coin will be much higher than the available supply and that prices after the release are going to skyrocket.

As such, dealers are offering high bounties for those who are able to get their hands on one of the coins and are willing to part with it.

  • Monument Metals is offering a $100 bounty for people who commit to selling the coin to them on the release day.
  • Pinehurst Coins is also offering $100 bounty, however in order to commit to the you’d need to hand over your US Mint login and password, plus your credit card verification code. All very risky.
  • Several buyers on the BullionStackers.com forum are willing to buy for as much as $295 per coin, which is about 4.5 times the asking price from the mint.

It should be obvious that these dealers and buyers know that demand for this coin will skyrocket after the release. Even is MS-69 condition, the 1995-W Proof coin has sold at recent auctions for close to $3,000. MS-69 is likely to be what many of these 2019 Enhanced Reverse Proof ASEs will end up being graded.

It’s hardly much of a risk the limited supply of this coin and the upside potential is tremendous.

Update:

On November 15, 2019, Pinehurst coins began selling the coins purchased through their buyback program through their eBay store for $599. As demand has continued, they have raised the price twice. Initially to $650, then to the current (as of 11/18/2019) $699 per coin. Other’s are selling the coin on eBay for similar amounts and more. Check out the eBay listing for the 2019-S Enhanced Reverse Proof American Silver Eagle.

 

Posted on

Top 4 Sovereign Gold Coins for Investing

FindBullionPrices.com
buy gold coins

Uncertainty in the traditional investment markets brings a lot of interest in precious metals. Precious metals provide a stable investment and store of wealth when the stock market is wavering. Gold has always been looked at as a safe-haven way to hold onto wealth during an economic recession. Gold coins for investing are the best way having physical precious metals in your portfolio.

Gold has historically been a way for investors to preserve buying power from inflation.

Gold has been on the rise this year. All major financial experts are predicting that gold is going to continue to rise. Hedge fund leaders and financial analysts alike are recommending investments in precious metals.

There are ways to invest in gold like traditional stock or mutual fund investments. There are gold-mining stocks whose performance often tracks the price of gold in relation to the expenses of mining operations. There are ETF (electronically traded funds), some of which are backed by physical metals.

However, the safest way to invest in gold is to buy physical bullion.

Gold Bullion comes in different forms. The most common ways to invest in physical gold is to buy coins and bars.

Gold coins are minted, backed and guaranteed by sovereign governments.

Gold bars and rounds are minted by private companies that assure the assay of the gold you’re buying.

If you want exposure to gold in your investment portfolio, then buying and holding gold coins is the best way to achieve that.

Gold Coins are different from rounds in that coins are issued by sovereign government authorities and carry legal tender status. In the majority of cases, the face value that is present on gold coins is nominal and is a fraction of the intrinsic value of the metal in the coin.

Government issued coins are more widely recognized world-wide when it comes time to sell. They are standardized and are manufactured to exacting specifications that are well known and documented.

This makes them much easier to authenticate without requiring expensive equipment to assay. With a digital scale and measuring calipers even a novice in precious metals can often be taught to easily determine the authenticity of a coin.

  1. American Gold Eagle Coins

    The American Gold Eagle is one of the most recognizable modern gold coins worldwide. It’s design embodies the spirit of America. The obverse (front) of the coin features the Walking Liberty design that also appeared on the St Gauden’s Double Eagle coin. The reverse (back) of the coin shows a bald eagle soaring above it’s nest.

    It was introduced in 1986 and is backed in full faith for it’s purity and weight by the US Mint. Each Gold Eagle coin contains 1 troy ounce of gold. The coin also contains small amounts of silver and copper to provide strength, durability and protections from scratches while being handled.

    The composition of the Gold American Eagle is 91.67% Au, 3% Ag, 5.33% Cu. It is 22 karat, which was the alloy used in American Gold coins minted prior to 1837.

    Gold Eagles are widely recognized by investors. They are typically sold by dealers as individual coins. Though they are also available in tubes of 20 coins or Monster Boxes containing  25 full tubes.

  2. American Gold Buffalo Coins

    The American Gold Buffalo coin was introduced in 2006. It is a 24k bullion coin produced from .9999 fine gold. It was the first 24k gold bullion coin produced by the US Mint.

    The Gold Buffalo mimics the design of the Buffalo Nickel. It is produced annually at the West Point Mint. Random Year Gold Buffalo coins will carry the lowest premiums over spot price, which is ideal for investors.

  3. Canadian Gold Maple Leaf Coins

    The Canadian Maple Leaf is one of the world’s most popular coin programs. It is the official bullion coin series of the Royal Canadian Mint and the nation of Canadian. First introduced in 1979, the Canadian Gold Maple Leaf coins were the first in the world to compete with the South African Krugerrand in terms of gold bullion demand. Prior to the release of the Gold Canadian Maple Leaf no other coin beside the Krugerrand had ever been offered strictly for investment purposes.

    The obverse of all Gold Maple Leafs feature the right-profile portrait sculpture of Queen Elizabeth II. Three different incarnations of Her Majesty’s profile have appeared over the years. These include the following:

    -1979 to 1989 – The image of a 39-year-old Queen Elizabeth II.

    -1990 to 2004 – A depiction of Queen Elizabeth II at 64 years of age.

    -2005 to Present – Susanna Blunt’s depiction of Her Majesty at the age of 79.

    The reverse of all Canadian Maple Leaf coins features the image of the sugar maple leaf. Used on the reverse since the introduction of the gold version in 1979, this image has never changed. The only additions have been security measures, notably radial lines and a microscopic maple leaf privy.

  4. South African Gold Krugerrand Coins

    The gold Krugerrand quickly became the number one choice for investors worldwide during the bull gold market in the 1970’s. Between 1974-1985 it is estimated that 22 million gold Krugerrand coins were imported into the United States.

    The success of the South African Gold Krugerrand inspired other gold-producing countries to mint and issue gold bullion coins. Including Canada, with the gold Canadian Maple Leaf; China, with the Chinese Gold Panda; the United States, with the American Gold Eagle; and the United Kingdom, with the British Gold Britannia.

    The dimensions of the 1 oz South African Gold Krugerrand is 32.77 mm in diameter and 2.84 mm thick. It is minted from a gold alloy that is 91.67% pure (22 karats) so that the coin contains one troy ounce (31.1035 grams) of gold. The remaining 8.33% of the of the coins weight is copper which gives the Krugerrand it’s orange appearance. As a result, the Krugerrand’s actual weight is 1.0909 troy ounces (33.93 grams).

    In 1980, the South African Mint began producing gold Krugerrand coins in fractional ounce sizes, containing 1/2 oz (15.5 grams), 1/4 ounce (7.78 grams), and 1/10 ounce (3.11 grams) of pure gold.

Many experts suggest that every investment portfolio is diversified with 10% to 15% invested in precious metals. Many investors choose to buy gold coins because of their ability to retain and maintain purchasing power over time.

The one troy ounce gold coin is the most popular size and denomination of gold bullion coins available today. These gold coins are widely recognized worldwide and can easily be authenticated with simple tools. One ounce gold coins are small and compact and many of them can be stored discreetly in a very small amount of space.

One standard mint tube of gold eagle coins contains 20 troy ounces of gold and is only slightly larger than an average pill bottle. With the spot price of gold hovering between $1,500 to $1,600 per ounce, a full tube of Gold Eagles has a bit over $30,000 in gold value. That is a remarkable store of wealth in a compact size.

Posted on

How to Leverage eBay Bucks When Buying Gold & Silver

FindBullionPrices.com

eBay Bucks is a rewards loyalty cash-back type program run by eBay that gives a 1% credit on eligible purchases that can be used towards future purchases.

eBay Bucks credits are earned throughout each quarter up to a maximum of $500 in eBay Bucks per quarter. eBay Bucks are available to spend on eBay at the beginning of the quarter after they are earned. Earned eBay Bucks must be spent during the first month of the quarter after they are earned.

Throughout each quarter eBay runs promotions that increase the earnings amounts to 8%, 10% or 15% above the base amount of 1%.

Items listed in the Bullion category and subcategories are ineligible for earning eBay Bucks. However, many reputable dealers will list bullion products for sale in alternate categories that do earn eBay Bucks.

Towards the end of the first month of the quarter eBay will sometimes run a Bucks promotion. During this time it’s possible to double-dip. If you have eBay Bucks to spend you can earn additional promo Bucks if you spend your accrued Bucks on eligible items.

Earned eBay Bucks can be spent on anything, including silver and gold bullion.

There are a bunch of different ways to leverage eBay Bucks when stacking silver and gold.

Some people will find items that earn the maximum amount of Bucks per transaction ($100) on items that are being sold for close to melt value (such as $20 Gold Double-Eagles) that can be flipped easily for more than melt value. Then leverage the earned Bucks to buy whatever they want. This is similar to credit card churning. If you have a rewards credit card that earns 2%-5% cash back on these types of transactions that adds a bit more.

eBay Bucks can also be used to offset the cost of regular bullion purchases. For example, let’s say you regularly purchase 20 Francs Gold Coins. These can often be found on eBay for around 5% premium. So if melt is around $280, you can find them on eBay from major dealers for around $295. During a 10% Bucks promotion you’d earn $29.50 in Bucks on that purchase. If you regularly purchase 2 coins a month during the earnings period while 10% promotions are running you’d earn $59 in Bucks each month, or $118 during the 2nd two month period of the quarter.

Your out of pocket cost for the 4 coins is $1180 and you earned $118 in Bucks credit.

During the first month of the following quarter, use the $118 in eBay Bucks credit to offset the cost of 2 additional 20 Francs coins. The cost of 2 coins could be $590 minus the $118 in credit for an out of pocket cost of $472.

All together, you’ve spent $1652 on (6) 20 Francs coins, which is roughly $275 per coin. This all assumes that the price of gold remains relatively flat the whole time, your average cost per coin is $5 below melt.

Posted on

JM Bullion Acquires Provident Metals

FindBullionPrices.com
Bulk Silver Rounds

Provident Metals announced today that it had been acquired by JM Bullion in August 2019.

Details of the acquisition have been kept quiet until now. Though rumors have been circulating in online precious metals forums and social media for several months.

It appears as though Provident Metals will be maintained as a separate brand from JM Bullion and continue to operate independently. This is similar to the previous purchase of Silver.com in 2012.

In the announcement from Provident Metals, they indicate that the new ownership structure has allowed them to improve upon their e-commerce and order fulfillment capabilities.

Among the improvements are:

  • The return of PayPal and the addition of eCheck/ACH as a payment.
  • Ability to store multiple payment methods in user accounts.
  • Website performance improvements, better mobile experience and the improvement of the search functionality.
  • New order fulfillment center.
  • Reduced shipping fees for orders less than $99.

In addition, Provident has also announced a continuation of their series programs, the Egyptian Gods and Prosector series’. Also announced were the release dates for the 5th and 6th releases of the World of Dragons series, which will be November 1st and February 1st.

Posted on

Buy Gold & Silver Below Spot Price With eBay Bucks

FindBullionPrices.com
fractional gold coins | 20 Franc Gold Rooster

How to leverage eBay’s loyalty program, eBay Bucks, to earn rewards to buy gold and silver below spot price.

eBay Bucks is a rewards loyalty cash-back type program from eBay. The program pays you a 1% cash-back credit on eligible purchases. You can redeem the cash-back credits towards future purchases.

eBay Bucks credits are earned throughout each quarter.  The maximum amount of eBay Bucks you can earn per transaction is $100. However, you can earn up to a maximum of $500 in eBay Bucks per quarter.

eBay Bucks are available to spend on eBay at the beginning of the quarter after they are earned. Earned eBay Bucks must be spent during the first month of the quarter after they are earned.

Throughout each quarter eBay runs promotions that increase the earnings amounts to 8%, 10% or 15% above the base amount of 1%.

Items listed in the Bullion category and subcategories are ineligible for earning eBay Bucks. However, many reputable dealers will list bullion products for sale in alternate categories that do earn eBay Bucks.

Towards the end of the first month of the quarter eBay will sometimes run a Bucks promotion. During this time it’s possible to double-dip. If you have eBay Bucks to spend you can earn additional promo Bucks if you spend your accrued Bucks on eligible items.

eBay Bucks that you earn, both regular and bonus Bucks, can be spent on anything eBay sells, including silver and gold bullion.

There are a bunch of different ways to leverage eBay Bucks when stacking silver and gold. Here are a couple of examples of ways to leverage eBay Bucks.

Buying Items to Flip, Then Reaping the Rewards

Some people will find items that earn the maximum amount of Bucks per transaction ($100) on items that are being sold for close to melt value (such as $20 Gold Double-Eagles) that can be flipped easily for more than melt value.

Then leverage the earned Bucks to buy whatever they want. This is similar to credit card churning. If you have a rewards credit card that earns 2%-5% cash back on these types of transactions that adds a bit more.

Dollar-Cost Averaging Below Spot Price With eBay Bucks

eBay Bucks can also be used to offset the cost of regular bullion purchases. For example, let’s say you regularly purchase 20 Francs Gold Coins. These can often be found on eBay for around 5% premium. So if melt is around $280, you can find them on eBay from major dealers for around $295. During a 10% Bucks promotion you’d earn $29.50 in Bucks on that purchase. If you regularly purchase 2 coins a month during the earnings period while 10% promotions are running you’d earn $59 in Bucks each month, or $118 during the 2nd two month period of the quarter.

Your out of pocket cost for the 4 coins is $1180 and you earned $118 in Bucks credit.

During the first month of the following quarter, use the $118 in eBay Bucks credit to offset the cost of 2 additional 20 Francs coins. The cost of 2 coins could be $590 minus the $118 in credit for an out of pocket cost of $472.

All together, you’ve spent $1652 on (6) 20 Francs coins, which is roughly $275 per coin. This all assumes that the price of gold remains relatively flat the whole time, your average cost per coin is $5 below melt.

These are just a couple of ways to leverage Bucks. Hope this helps.

Posted on

Where to find the cheapest silver eagles for sale online

FindBullionPrices.com
best place to buy American Silver Eagles online

How can I find which online bullion dealer has the cheapest Silver Eagles for sale?

This is one of the most frequently asked questions of beginning precious metals investors.

With so many different online bullion dealers to choose from it’s hard to find a simple answer.

Dealer Premiums on Silver Eagles

Question: Why does each dealer have different prices for what appear to be the same silver eagles or other bullion items?

Answer: Because they can. It is usually referred to as the dealer premium.

Most silver buyers don’t shop around much. If they do shop around they will stick to their favorite one or two dealers such as APMEX or JM Bullion. They do this because it’s what they’ve always done.

The popular dealers like APMEX and JM Bullion are often the most expensive.  The cost of doing business for them is higher than many of the smaller dealers. They are larger companies and have more employees and higher costs. They also spend large amounts of money on online advertising and other expenses.

The higher cost will be passed along to the end buyer in the form of higher dealer premiums.

Finding the Cheapest Silver Eagles Online

FindBullionPrices.com tracks the prices for American Silver Eagle coins from dozens of online bullion dealers. In fact, we track the prices of over 400 other silver and gold bullion products too.

American Silver Eagles can come in a variety of different conditions. There are:

  • Current Year 2019 Brilliant Uncirculated Silver Eagles.
  • Secondary Market Silver Eagles
  • Previous Year 2018 BU Silver Eagles
  • Backdated Silver Eagles
  • Circulated, tarnished or Cull condition Silver Eagles

We can help you find the cheapest American Silver Eagles no matter which variety you want to buy.

Silver Eagles Cost Less When You Buy in Larger Quantities

You can buy American Silver Eagle coins individually, or you can buy them in larger quantities. In larger quantities, it’s pretty common to buy Silver Eagles in tubes of 20 coins, or in Monster Boxes of 500 coins.

You will always pay a lower price for Silver Eagles when you buy in larger quantities. Most online bullion dealer offer price breaks starting when you buy a full tube of 20 coins.

Authorized Distributors buy Silver Eagles from the US Mint in very large quantities. Those large quantities are packaged into Monster Boxes. Each Silver Eagle Monster Box contains 25 tubes or rolls of coins.

Buying a roll of 20 American Silver Eagle coins will almost always cost less than when you buy individual coins. Most precious metals investors follow the principal of dollar-cost averaging. Keeping the dealer premiums as low as possible is important.

Posted on

eBay Bucks 10% in App, 6% Web Bonus Offer – Expires August 14, 2019 at Midnight

FindBullionPrices.com

eBay Bucks Bonus Offer

Today, eBay announced a new Bucks promotion on all qualified purchases. The bonus gives a reward of 10% of purchases in the mobile app and 6% for purchases made through the web. This is instead of the usual 1%.

Items listed for sale in the bullion categories are not eligible for earning eBay Bucks.

However, there are plenty of Gold, Silver and Junk bullion items available in other categories that do qualify to earn Bucks. Some of these items are near or below melt prices when factoring in the eBay Bucks bonus.

This bonus promotion runs until midnight Pacific time on August 14, 2019.

You can learn more about the eBay Bucks program including how to sign up and receive the bonus offers from eBay’s FAQs.

If using a credit card that gives 2% cash back then the net price of each deal is even less.

See our list of eBay Bucks eligible bullion items for more details

Posted on

About Mexican Dos Peso Gold Coins

FindBullionPrices.com

Dos Pesos Gold Coins production began at La Casa De Moneda in Mexico City beginning in 1919. In 1919, roughly 1,670,000 coins were minted. Production continued briefly through 1920 before it was halted.

Production of the Dos Pesos was restarted in 1944 and continued through 1948.

From 1951-1972 the mint began production again. During this time 4,590,493 coins were restruck, most dated 1945.

In 1996 additional restrikes were produced with a matte finish. An additional 260,000 restrike coins dated 1945 were struck minted 2000-2009.

Dos Pesos coins that were produced at La Casa De Moneda carry the “Mo” mint mark, with the lowercase o being centered above the uppercase M.

On most Gold Dos Pesos coins the mint mark is most commonly located on the reverse, at the bottom below the bow in the wreath.

Coin Highlights:

  • Denomination: 2 Pesos
  • Total Weight: 1.666 grams
  • Actual Gold Weight (AGW): .0482 troy ounces (1.499 grams)
  • Composition: 90% Gold, 10%
  • Diameter: 13 millimeters
  • Thickness: 1.02 millimeters

Dos Pesos Mintage Chart

Year Mintage Comments
1919 Mo 1,670,000
1920 Mo 4,282,000
1944 Mo 10,000
1945 Mo 140,000 1945 original strikes
1945 Mo 4,590,493 1951-1972 restrikes (dated 1945)
1945 Mo 1996 Matte restrikes (dated 1945)
1946 Mo 168,000
1947 Mo 25,000
1948 Mo 45,000

The mintage years for the Dos Pesos Gold coin spanned 90 years. The majority of the coins produced and available in the market are restrikes dated 1945.

Throughout the 90 year production run 10,930,493 Dos Pesos Gold coins were produced.

Posted on

What to consider before you buy gold

FindBullionPrices.com

When you’ve come to realize that making an investment in precious metals may be of interest to you it’s important to have additional knowledge of the industry before you spend money. Here are some important factors to consider before you buy gold or other precious metals.

Price transparency

The spot price of gold is controlled by global commodities markets and changes frequently based on market conditions. When buying gold online the dealer should provide an accurate price for the gold that you’re buying based on the current spot price, plus the dealer premium.

  • Mint and weight: Gold dealers sell bars, coins and other forms of refined gold storage that is produced by a specific company or mint. Some Mints, such as PAMP Suisse, Valcambi, and the Royal Canadian Mint (RCM) are more reputable and widely recognized than others and may come with a higher premium.The weight of gold coin or bar is the largest contributing factor to the cost. In general, the greater the weight, the lower the premium you’ll pay over the spot price to the dealer.
  • Additional fees: In addition to the base cost of the precious metals, online bullion dealers may charge a range of fees.The dealer premium is the base markup over spot price that you pay when you buy gold. Each dealer charges a different premium. This is an important factor to consider and comparing prices of the same product with different dealers can show a large difference in price. FindBullionPrices.com lists multiple dealers selling a particular product, along with the price that they charge and breaks down the price to show the fees.
    Dealers may also include transaction fees based on payment methods. Typically, the lowest price will be for paying with a cash equivalent such as e-check, ACH or check. Buying gold with Credit Cards, PayPal, Bitcoin and other payment methods will incur a fee of around 4%.
    Shipping charges can also be added. Some dealers include the cost of shipping for free with a minimum purchase amount. There are many dealers whose minimum purchase amounts are around $100 for free shipping.
  • Taxes: Some states require sales tax on gold and precious metals purchases. In some states there may be minimum purchase amounts that are exempt from sales tax. Since the Supreme Court ruled in favor of the States in South Dakota v. Wayfair, many online gold dealers have begun to charge customers taxes on bullion purchases. Some online dealers have found loopholes to avoid charging and collecting sales tax in those states.
  • Posted prices: Trusted and reputable online gold and silver dealers will have the price of each item prominently displayed on their website. The posted price, plus any transactional or shipping fees will be conspicuously and noticeably displayed on their website. When calling companies that do not display the price per ounce for gold or silver may try to sell you numismatic coins at a much higher premium. These bait and switch tactics are not used by trusted and reputable online bullion dealers.
  • Management fees: You may choose to have the dealer store your gold after purchase, making them the custodian. Storing precious metals with a dealer will incur some ongoing management fee, similar to the fees charged at any brokerage for investment portfolios. The only way to avoid ongoing storage fees is to take physical possession of your precious metals. If you don’t have an adequate safe at home where you can store your precious metals you may want to consider storing your metals in a safe deposit box at your local bank. Taking possession of your precious metals at a later time can be time consuming. If you don’t hold it, you don’t own it.

Buying and selling

Precious metals are often used as a hedge for storing wealth in times of economic volatility or political uncertainty. The liquidity of gold and silver is important. Precious Metals dealers play an important role in the secondary gold and silver bullion market.

There are some things to consider when you are ready to sell or need to sell some of your gold investment.

Gold is typically held physically in bars or rounds ranging from as small as 1 gram to a kilo. When it comes to understanding how to buy gold, here are some things to keep in mind:

  • Quality: The standard quality of gold (and silver) in fineness is .999. Gold and silver.Some gold coins, such as the American 1 oz Gold Eagle or South African 1 oz Gold Krugerrand are comprised of an alloy reducing the fineness of the gold to .900. This adds durability that allows the coin to be handled. However, the coin still contains 1 troy ounce of pure gold.Some other gold coins, such as the Canadian 1 oz Gold Maple Leaf or American 1 oz Gold Buffalo are minted with a fineness of .9999 making them softer and can be prone to scratches depending on how they are handled and stored.
  • Transaction fees: Despite what some may say, it is not standard industry practice to charge customers a fee to sell their gold. When it comes time to sell your precious metals, any reputable dealer will make you an offer that is fairly based on the current spot price. The price will depend on the specific item that you are selling, the fineness and quality of the gold or silver, the mint or manufacturer and possibly several other market factors. Trusted and reputable dealers will typically offer between 90%-98% of the current spot price. There are some exceptions. Sovereign government coins, such as Gold American Eagle or Canadian Gold Maple Leaf coins can usually be sold at spot price or for a slight premium above spot price, depending on the dealer and market conditions.
  • Direct sales: When selling gold, there are several options. A seller can typically sell their gold back to the dealer that they originally purchased from, but the dealer will often offer a lower price than the spot price and/or transaction fees.Online markets like eBay allow gold owners to sell directly to buyers, however, eBay auction fees and subsequent PayPal fees can quickly eat into the costs.

Storing precious metals

Misplacement or theft of your precious metals are real concerns. Gold can easily and quickly be turned into cash at any pawn shop, local coin shop or “We Buy Gold” store. Investing in a proper, TL rated safe that can be secured in some way to the foundation of your home may be necessary. Having an adequate security system is also important in deterring would-be thieves should you chose to store your precious metals at home.

Having a safe-deposit box at your local bank is also an option to consider. However, it’s important to note that the contents of safe-deposit boxes are not insured by the bank and are not covered by the FDIC.

Most home-owners insurance policy will not provide coverage for precious metals or numismatic coins without an additional policy rider.

Reputation

It’s important to find trusted and reputable gold dealers to do business with.  Taking the steps necessary to ensure that you are working with a reputable gold dealer helps reduce the risks of encountering counterfeit bullion. You should have total confidence in the dealer when you are ready to buy gold.

  • Transaction history: One of the simplest to determine if a dealer is trustworthy and reputable is to look at online customer reviews of bullion dealers. There are also many third-party companies that record customer transactions and customer satisfaction.