There are a lot of online bullion dealers. With so many online dealers how do you decide which bullion dealer is the best company to buy from?
It doesn’t matter if you’re an investor looking for the lowest price investment, or if you’re a collector wanting to find the best prices on silver coins to add to your collection. Investors and collectors both are always searching to find the best prices on silver from online bullion dealers.
Finding which online bullion dealers have the best prices for silver will depend on which bullion items you’re looking to buy and when you’re looking to buy.
FindBullionPrices.com is the best website for tracking the prices and premiums of a large variety of gold, silver and platinum coins, bars, rounds and bullion items for sale by online bullion dealers.
All of the online bullion dealers will carry a core set of gold, silver and platinum bullion products. All will have some sort of selection of:
Gold, silver and platinum Sovereign government coins such as American Eagles, Canadian Maple Leafs, etc…
A large variety of silver rounds from popular private mints
Silver bars, gold bars and platinum bars
Hand poured items from specialty mints
Circulated “Junk” Silver.
and much, much more
With so many trusted and reputable online bullion dealers offering such similar products how do you decide which company is the best to buy from? There are several factors to consider, including customer service, shipping charges, sales tax and of course most importantly, the lowest premiums over spot price for what you want to buy.
There are several trusted and reputable online bullion dealers that stand out from all the others.
Some of the best companies to buy silver from include Silver Gold Bull, Golden Eagle Coin, Bullion Exchanges, BGASC, JM Bullion and others.
The American Gold Eagle Coin is minted annually by the US Mint since being introduced in 1986. The US Mint produces only enough coins that they think they will be able to sell to investors. American Gold Eagle Mintages vary each year based on investor demand. The chart below shows the American Gold Eagle mintage numbers for all denominations minted since their introduction in 1986.
This chart only displays the bullion version of the coin. American Gold Eagle proof coins have separate mintage figures.
American Gold Eagle coins are available in four denominations. The largest, weighs 1 troy ounce and has a nominal face value of $50. The one-half troy ounce has a nominal face value of $25. The quarter ounce Gold Eagle carries a nominal face value of $10. The smallest denomination, the 1/10 troy ounce has a nominal face value of $5.
Although each Gold American Eagle coin has a nominal face value, the intrinsic value of the gold contained in each coin is worth significantly more.
Precious metals like gold, silver and platinum are a good store of wealth and value. They provide a way for those with the means to store a wealth away from traditional fiat currency.
Buying and investing in gold coins or silver bars is a good way to do store wealth, but not always practical for everyone or every situation. Some choose a wearable wealth as an alternative option.
What is wearable wealth?
Buying and investing in wearable wealth follows the notion that if you don’t hold it, you don’t own it. It’s a way of converting precious metals like gold, silver and platinum into something that is wearable, transportable and concealable. It can take the form of jewelry or other objects that can be worn on the body.
Not all jewelry can be considered wearable wealth. Karat gold, such as 10k, 14k or 18k gold has an extremely high retail markup. The markup can sometimes be as high as 500% over the retail value of the gold. Traditional gold karat jewelry is not practical as a store of wealth if you lose a tremendous amount of value when you buy it.
Higher karat gold, such as 22k or 24k is a better alternative. The concept of having wearable wealth in 22k or 24k gold is not new. The idea has existed for centuries among the wealthy and elite.
In countries like India, gold has long been seen as an indicator of wealth. There is a cultural aspect to it. For many generations gold has been accumulated by wealthy families and passed down through families. Gold is considered as a way to stay financially secure. It is fairly common for the wealthy in India to hold as much as 20 percent of their net worth in gold.
The gifts primarily takes the form of jewelry. It is still very common in parts of India to give gifts of gold chains and rings to the groom’s family during a wedding celebration. The groom’s family will also gift gold jewelry to the bride.
The jewelry is often high purity karat gold in 22k. Twenty-Two karat gold is 91.6% pure gold which makes it suitable as an investment. Having an alloy of 8.4% of other metals provides some additional strength and hardness.
How can wearable wealth be used as a store of value?
The most common wearable wealth today still takes the form of jewelry. In today’s precious metals markets it is possible to find 24k gold shaped and formed into jewelry and other everyday objects.
Traditional 14k or 18k gold jewelry that is sold through retail jewelers at a high markup. This is not the case with 22k or 24k jewelry. High purity gold jewelry can be purchase through traditional bullion dealers at a much lower markup and at a low premium. The premium on 24 karat gold jewelry is often similar to those found on gold coins and gold bars.
Online bullion dealers offer a variety of jewelry items that are made from 24 karat gold. 24 karat gold bracelets, such as those offered by Money Metals Exchange can be bought for around 10% over the current gold spot price. This is a premium markup that can be found in gold coins, which is far less than those found with retail jewelry.
Benefits of Wearable Wealth
Wearable wealth comes with a variety of benefits. When you buy wearable wealth you are taking fiat currency and putting it into a physical asset that has value in virtually any currency. Having wearable wealth in the form of jewelry allows you to easily travel with assets.
If an emergency arises while you are traveling and you need quick access to cash, converting 24 karat jewelry into local fiat currency is often as easy as a quick stop at a reputable jewelry store, pawn shop or precious metals buyer.
For example, a situation could arise while you are traveling in a foreign country and you accidentally lose your wallet that contains your credit cards and cash on hand. Getting replacement credit cards could take days or longer. How do you survive in the meantime? If you’re traveling with a couple of 24k gold bracelets a quick stop at a local jeweler that buys precious metals and you can have enough cash on hand to get by until your replacement credit cards arrive.
Wearable wealth often takes the form of jewelry. When you are traveling internationally personal jewelry that is worn or carried may be considered exempt from customs declarations. This depends on the country and circumstances so it’s best to verify each country’s requirements before you travel.
In many cases, airport security agents may not notice or pay any attention to gold jewelry like they would if you were carrying cash, coins or bullion.
Not only does this make gold bullion jewelry easily transportable but it is also easily concealable in plain site. The jewelry can easily be worn, whether it takes the form of a necklace, bracelet, broach, hair clip or a button on your shirt.
When traveling in foreign countries it is good to know that you have some peace of mind in the event something happens.
Growing Popularity of Wearable Wealth
Along with the economic growth over the past few years investors are looking for ways to preserve wealth and hold onto their investment gains. Precious metals have long been considered a safe haven investment.
As investors become more savvy they are looking for alternative approaches to wealth preservation. Converting fiat currency into wearable wealth has become quite popular in recent years. Numerous companies have sprung up over the past few years to capitalize on this trend. One such company is Mené which creates contemporary jewelry and gifts in both 24k gold and platinum.
Their offerings include products for both women and men. In addition to traditional jewelry items such as rings, chains, bracelets and charms, Mené also has some unique products that can be discreet and concealable forms of wearable wealth.
Such as 24k gold men’s cufflinks that have a combined weight of 37.15 grams or roughly 1.2 troy ounces. They are stylish, functional and have the added benefit of being made from 24k gold or platinum. If the gold color feels too flashy they are also available in 24k platinum which has a fineness of .995.
Other offerings include buttons made from 24k gold or platinum. Buttons like these could easily be sewn onto a shirt and worn daily. The buttons come in two different sizes, one with a 22mm dimension that weighs 16.74 grams or roughly .54 troy ounces. The other is slightly smaller at 15mm with a weight of 6.895 grams or roughly .22 troy ounces.
These buttons certainly have some weight to them compared to modern plastic buttons. However, that weight also provides the peace of mind that having wearable wealth can provide. Gold buttons seem a little flashy on most dress shirts and might easily stand out to would be pickpockets or thieves. These buttons could easily be concealed by coating with some paint or lacquer.
In the event you need to exchange a few gold buttons for some local fiat the lacquer or paint could easily be removed with acetone or other paint removers leaving behind the .999 fine gold buttons. A standard dress shirt with 10 buttons could easily accommodate over 170 grams of gold which is roughly 5.5 troy ounces. It would be hard to conceal that much pure gold in plain site any other way.
The American Silver Eagle Coin is minted annually by the US Mint since 1986. The US Mint produces only enough coins that they think they will be able to sell to investors. American Silver Eagle Mintages vary year to year based on investor demand.
Annual American Silver Eagle Mintage Numbers
The Liberty Coin Act of 1985 authorized the US Mint to create the first American Silver Eagle coins in 1986. The law set base design specifications and standards for the Silver Eagles that includes:
The coins will be 40.6 millimeters in diameter and weigh 31.103 grams
Each coin will contain .999 fine silver
Each coin will feature a design symbolic of Liberty on the obverse side and of an eagle on the reverse side
Each coin will be inscribed with the of the year of minting or issuance, the words ‘Liberty’, ‘In God We Trust’, ‘United States of America’, ‘1 Oz. Fine Silver’, ‘E Pluribus Unum’, and ‘One Dollar’
Each coin will have reeded edges
The Liberty Coin Act took effect on October of 1985 with instructions that the first coins would be released in September of 1986.
Many collectors want to buy an American Silver Eagle coin from each mintage year to build a complete set.
There are several Silver Eagle Dollar Coins that have continued to rise in price due to their rarity and demand from investors and collectors. The 1996 Silver Eagle Bullion Coin was the lowest mintage to date, with only 3.6 million coins produced. Even coins in poor condition can fetch high premiums.
The release of the 2019-S Enhanced Reverse Proof American Silver Eagle coin in November 2019 was met by incredibly high demand due in part to it’s limited mintage. The coin was limited to just 30,000 coins making it the lowest mintage of any variety of American Silver Eagle coin. This coin sold out from the US Mint website in under 15 minutes.
For Proof American Silver Eagles, the previously rarest coin was the 1995-W. Only around 30,000 coins were produced that year with the West Point mint mark. The coin was only available as part of a special 10th anniversary set.
Silver Eagle Mintage by Year
2006-P Rev Pr
2011-P Rev Pr
2012-S Rev Pr
2013- W Rev Pr
(W) – 389,994
(S) – 123,906 3
(W) – 352,141
(S) – 158,761
(W) – 319,086
(S) – 123,077
2019-W Rev Pr
2019-S Enh Rev Pr
1 – Sales totals through November 30, 2019. 2 – Announced Mintage 3 – The 2017-S Proof Coin was released in two special sets. One called the “Congratulations Set” (17RF) with an announced mintage of 75,000 units. The other “Limited Edition Proof Set” (17RC) with an announced mintage of 50,000 units. Sales records show 48,906 Limited Edition Proof Sets sold. Sales records do not indicate how many Congratulations Sets were sold that year. 4 – The 2019-W Rev Proof was released as part of the “Pride of Two Nations” set (19XB)
A question that is asked often is what is the difference between a poured silver bar and a cast silver bar?
Both poured and cast silver bars start with melted or liquified silver that is then poured into a mold. The difference mainly depends on the mold itself.
For poured silver bars, the heated silver is poured into an open mold, typically made of graphite or other heat resistant materials. The metal is left in the mold to cool. In doing such, the silver that is exposed to the open face of the mold will show cooling lines or striations.
Cast silver bars are also poured into forms or casting molds. However, these forms or molds will not have an open face like those used for poured bars. These will not typically show pour lines because the mold is a usually a closed mold. Casting is a technique often used when making silver and gold jewelry and silver art pieces.
Poured and cast bars can have a similar look to them as they are both poured silver. Other types of silver bars, such as those that are manufactured using stamping or extruded methods will look distinctly different.
There are many investors and silver stackers prefer to buy poured or cast silver bars. These styles of silver bars often unique and show the craftsmanship that goes into creating each silver bar. Some that collect vintage silver bars, such as those made by Engelhard, Johnson Matthey and others have a preference for poured bars.
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.