For those who are just starting to buy precious metals Silver Eagle coins that are issued by the US Mint are among the safest ways to buy silver. American Silver Eagle coins are a great investment for anyone looking to diversify their portfolio into precious metals. If you have an interest in investing in precious metals you are probably wondering where the best place is to buy American Silver Eagles online.
Can you buy silver eagles from the US Mint?
The US Mint does sell American Silver Eagle Proof and Special Edition coins to the public through their website. However, they do not sell American Silver Eagle bullion coins direct to the public.
The US Mint only sells Silver Eagle bullion coins to a short list of “Authorized Purchasers”, which act as wholesale distributors to online bullion dealers and local coin shops. The process to become an Authorized Purchaser for the US Mint is an arduous one involving a lot of specific requirements that very few companies can meet. Even Authorized Purchaser must pay a premium for Silver Eagles from the Mint.
Even if you’re a collector looking to buy American Silver Eagle Proof or Special Edition coins you can usually find those coins for sale from online bullion dealers for less than you’d pay buying directly from the US Mint.
Are American Silver Eagles legal tender?
Yes. American Silver Eagle coins are legal tender with a face value of $1 US Dollar. The face value of silver eagle coins is backed by the US Government, as is the purity and quality of the coins.
As a result, Silver Eagle coins are one of the most popular precious metals investments in part because of their worldwide recognition.
How and Where to Buy Silver Eagles online
You can buy American Silver Eagle coins from virtually every online bullion dealer or local coin shop. There are several advantages to buy American Silver Eagles online.
The prices of silver eagles vary from dealer to dealer. This is because the dealer needs to recoup their own overhead, operating costs and profit margins. The amount each dealer charges above the silver spot price is called the dealer premium.
For American Silver Eagles, the US Mint charges Authorized Purchasers a premium over the current silver spot price. The premium charged on the wholesale level is around $2.00 per coin. As a result, the break-even cost for distributors is the spot price of silver plus $2.00. Online bullion dealers will pay a premium over this cost because the distributor needs to make a profit.
FindBullionPrices.com tracks the best silver eagle prices across trusted and reputable online bullion dealers. You want to find the best price when you are want to buy American Silver Eagle coins.
What is the best price for American Silver Eagles online?
The best price you are going to find when you buy American Silver Eagle coins online will be the current spot price of silver, plus the premium and profit the wholesale distributors and dealers need.
It is not uncommon to see current year American Silver Eagle for sale online for $3.00 premium over spot price. However, dealers often have sales where you can buy Uncirculated Silver Eagle for as low of $2.25 over spot price. You can subscribe to our deal newsletters to receive sale notifications.
You can find Cheap Silver Eagles for sale for less than the prevailing rates of current year coins. To get the best price for Silver Eagles you need to look into buying Random Year Silver Eagles and Circulated, Tarnished or Cull Condition Silver Eagles.
Silver Eagle Monster Box
Investors looking to get the best price for American Silver Eagles online will want to buy a Monster Box.
A Silver Eagle Monster Box contains 500 coins and weighs 500 troy ounces. Inside each Monster Box, there are 25 tubes of coins. Each of the tubes contain 20 coins each.
You will pay the lowest price per coin when you buy a Silver Eagle Monster Box because you are buying in bulk.