Posted on

7 Simple Ways to Test Silver at Home

FindBullionPrices.com

With the rise of trading through social media and other online marketplaces, it’s important to note the prevalence of fake coins and bars on the market and testing can help protect you from scams. Testing can help ensure that the silver item you have is indeed made of genuine silver and not a counterfeit or an alloy.

Silver bullion is a popular investment choice for portfolio diversity, as a hedge against inflation and high interest rates or simply using it like a savings account or store of value.

As with other investments, verifying that you have genuine silver is a normal part of the due-diligence. Most of the methods described here can be performed at home with simple and inexpensive tools you may already own. They allow one to quickly and easily verify silver for purity and determine if any suspicious items in your stack are not genuine.

Ice Melt Test

The ice silver testing technique involves placing a piece of ice on the surface of the silver bullion. The ice should melt quickly and evenly across the surface. If the ice melts unevenly or leaves spots or blemishes on the surface, it may indicate that the bullion is not pure silver.

Pure silver has a high thermal conductivity, which means it can transfer heat quickly and evenly across its surface. When you place ice on refined silver, the heat from the silver rapidly melts the ice, creating a thin layer of water across the surface. If the silver is not pure, it may have a lower thermal conductivity, which can cause the ice to melt unevenly or leave spots on the surface.

While the ice test can be a helpful way to verify the authenticity of your silver bullion, it’s important to note that it is not entirely foolproof. Other metals have a high thermal conductivity and could pass the ice test even if they are not pure silver. Additionally, some counterfeiters have figured out ways to thicken the silver-plating on some fake bullion coins that can pass the ice test.

It’s a good recommendation to use multiple methods to test silver bullion beyond checking for hallmarks or engravings, such as accurately measuring its weight and dimensions or performing a magnet test.

In case of doubts about the authenticity of your bullion, another option is to befriend your local coin shop to have it examined by a professional before making any investment decisions.

Magnet Test

Verifying silver can be made much simpler with the use of neodymium magnets.

Neodymium magnets are among the most powerful permanent magnets, capable of producing a high magnetic field. When placed close to a piece of silver bullion, they can provide an effective means of verifying its authenticity.

Silver is non-ferrous, which means that it is not magnetic. If the silver is genuine, the magnet will not stick to it, but at angle will slide down the piece showing some slight resistance. However, if the magnet sticks to the bullion, it is likely to be counterfeit metal alloy or plated material.

This is because most metals used to fake silver bullion, such as copper, brass, or nickel, are magnetic and will therefore be attracted to the magnet.

Note that this method should be used with other forms of testing silver bullion, such as weight and visual inspection. However, using neodymium magnets can provide more confidence when investing in silver bullion.

A set of tiny, inexpensive neodymium magnets can be bought from Amazon for under $10.

Measuring with a Precision Scale

A high-quality precision scale for precious metals that is accurate to at least 0.01 grams and also measures in troy ounces is a very affordable accessory.

A scale allows you to weigh the bullion accurately and determine its weight in grams or troy ounces. Once you have an accurate weight, you can then compare it to the manufacturer’s stated weight to and note any variances. When measuring in fractions of a gram there is likely to be some variances in weight, even between silver rounds of the same manufacturer and design.

In addition to weighing the bullion, you can use a scale to help measure its density.

Water Displacement

Water displacement is a technique that measures the volume of an object submerged in water and the amount of water it displaces. This method can be used to verify the weight and density of silver bullion.

A container filled with water is needed to use water displacement in verifying silver. The container should be large enough to submerge the silver bullion completely. First, the weight of the silver bullion is measured using a scale. Next, the silver bullion is immersed in the water container, and the volume of water displaced is measured. The weight of the silver bullion is then divided by the volume of water displaced to determine the density of the silver bullion.

The density value can be compared to the known density of silver to verify its authenticity. This method is relatively inexpensive as it does not require any special equipment.

Silver has a density of 10.49 grams per cubic centimeter, meaning a piece of silver bullion should have a specific weight based on its size. By measuring the weight and volume of the bullion, you can calculate its density and compare it to the expected density for silver to ensure that it is authentic.

Measuring Coins with Calipers

Calipers can be an effective method for measuring coins to help verify the authenticity. A set of calipers, sometimes referred to as a micrometer, is precision measuring instrument that can accurately measure the dimensions of an object, allowing you to compare the measurements of your coin against known specifications.

When using calipers, the first thing to do is to measure all dimensions of the piece, including its length, width, and thickness.

By comparing the measurements to those published by the original manufacturing mint. Most online bullion dealer listings information related to the dimensions of each piece as provided from the manufacturer. It is easy to compare the measurements of your piece with those provided online.

These measurements can also be used to calculate the volume of the coin, which can be compared to the expected volume based on the weight and density of silver.

Additionally, when measuring the dimensions of the bullion, calipers can help identify signs of tampering or alteration. For instance, when the thickness of a bullion bar fluctuates along its length, this could indicate that some metal has been shaved off.

Unlike chemical testing or X-ray fluorescence (XRF) analysis, caliper measurements can be taken immediately without requiring specialized equipment or extensive preparation.

Silver Ping Test

Pure silver makes a distinctive sound when it impacts another object such as a solid countertop. The Ping Test analyzes the ringing sound that is produced when it is bounced off surface.

Various Apps are now for both IOS and Android mobile devices that analyze the frequencies that resonate against a known database of other coins.

Acid Testing method

Acid testing is a common method used for testing silver purity. Acid testing involves using a simple solution to test the silver’s purity. The process is straightforward. A small sample of the silver is taken using a special jeweler’s stone. When the acid is applied to the sample it will react by changing color.

Additionally, 18k gold testing solution can also be used when testing silver with a different color reaction as described in the video below:

    

Simple and easy to use acid test kits are readily available from Amazon and other online marketplaces and are inexpensive and the most reliable way method of testing silver and gold bullion at home.

Acid testing is the most trusted way to verify the purity of silver bullion. It’s important to note that care should be taken with the testing process, particularly with items that may have potential value as numismatics, collectibles or antiques. Additionally, acid testing should only be complementary to other verification forms, such as weight and size measurements and confirmation of stamps and markings when available.

Final Thought

While several ways are used to test silver purity, many investors may need more than just third-party grading or testing services. Fortunately, the above are a variety of methods that you can use to verify the authenticity of your silver bullion at home.

If you still have concerns about a particularly piece, it may be best to visit a local coin shop or other precious metals dealer. You can ask them to test the piece in question on a Sigma Precious Metals Verifier.

Posted on

Is It Time To Sell Silver?

FindBullionPrices.com
buy silver

Will this be the year to sell your silver investment?

Perhaps the most difficult part of collecting precious metals and coins is deciding when will be the best or most opportune time to cash out.  You have been patient, watching and waiting while values and markets go up and down.  But it is very difficult to guess what the price of silver will be in the future. Is now the time to sell silver?

It doesn’t matter if you are just at the beginning stages or have been a lifelong stacker. It is important to think about future divestment. When holding sterling silver flatware, jewelry or coins, trying to figure out when to buy or sell can be confusing. Many investors choose to own physical silver as a long term store of value for reasons of financial security. However, silver can also be a way to get quick cash should you need it.

What is my Silver Worth?

Precious metals trading activity happens in worldwide futures markets in New York, London and Singapore. The silver spot price fluctuates because of the commodities trading markets. The price is based upon buying a futures contract, typically for very large wholesale orders of at least 5,000 troy ounces.  You can find the today’s spot price on our website.

Silver is the affordable precious metal. It’s relatively easy to acquire more metal for the same amount of money.  One downside of silver is that it is not very portable.

For example, a Monster Box of Silver American Eagles (500 coins, 500 troy ounces) weighs roughly forty-two pounds. Imagine trying to carry that, along with all your other gear in a situation where you need to leave home quickly.

In comparison, you could easily carry $10,000 worth of gold in your pockets.

The premium over price for silver can also be higher than that for gold.  It’s typical to find premiums in the 1-4 percent range when buying gold. Silver is a different story.

Even though the Mint charges wholesalers only around $2.50 per coin to cover the cost of manufacturing and distribution, the dealer premiums over for 1-ounce Silver American Eagles was over $15.00 per coin during parts of 2023 due to production issues. As a result, many dealers are also paying record high returns on buy backs due to the shortages of these coins.

To calculate the value of your silver, add up the total number of troy ounces. Take into account any items that may have a lower purity, such as 90% junk silver coins or sterling silver, multiplying the weight of the item times the purity. Then multiply the total amount by today’s silver spot price and you have the estimated melt value.

Coins can carry a numismatic premium over their melt value, including government issued silver bullion coins. The amount of numismatic premium is determined at the time of sale.

Where Can I Sell my Silver?

There are typically four avenues to consider when choosing where to sell your silver. Knowing where you can get the best price for silver is important. Waiting until you need to sell can often lead to settling for a low payout. 

The easiest and quickest way to sell is to use a broker that is willing to exchange silver for cash or in some cases via direct deposit to your bank account.

Using a broker is not complicated and there are many different types of companies that deal in precious metals. It’s like that you are already familiar with some.

Online Bullion Dealers

Online bullion dealers are an excellent choice to consider when looking to sell silver. Virtually every online bullion dealer will make an offer to buy your silver.

In some cases, online bullion dealers will list their “buy back” prices directly on their website. This allows you to figure out a rough idea of what each piece in your collection is worth.

For some pieces, it can also be helpful to look at completed auction listings on eBay for pricing.

You will need to contact each dealer to get their requirements for packaging and shipping.

Each dealer has different requirements for shipping them your silver to sell, such as insurance requirements.

There are two other things to consider when selling your silver investment to an online bullion dealer.

The turnaround time can take a week or two before you get paid. This delay may not be important if you are selling for the best possible price.

It’s also important to ask if shipping insurance is included. Shipping insurance can add additional cost which eats into your profits. It’s good to know in advance if you will need to insure your silver from being lost in transit. Some people prefer to use USPS Registered Mail service.

It becomes a waiting game once your silver is in the mail. The first thing that the dealer will do is take an inventory and assay any pieces that may need it.

After the shipment is received and inventoried, the dealer will contact you with the amount they will pay. The dealer will most likely mail you a check once you’ve agreed upon an amount. Some dealers may offer to send you the money via ACH bank transfer.

The entire process, from selecting a dealer, to shipping and receiving your payment can take several weeks. This is not ideal if you’re in a situation and you need to liquidate your silver investment in a hurry.

Local Coin Shops

Local Coin Shops are one of the most ideal places to liquidate your silver investment. Most people think of these stores as only a place for numismatics and collectors.

Historically, coins have often been minted from gold and silver. So most coin shops are also in the business of trading precious metals with their customers on a daily basis.

In most cases, you won’t need an appointment or provide the Shop with any advanced notice. You can often just walk in with your silver and lay it on the counter. The clerk will inventory what you’ve brought and assay any pieces they may need additional confidence in.

Many Local Coin Shops have a similar pricing model for their buying and selling activity. They will often buy generic silver slightly below spot price. Typically $1 to $2 below the current silver spot price per ounce.

Before the pandemic, you could buy government items like American Silver Eagles slightly above the current silver spot price. Today’s premiums on silver eagles are still at unprecedented levels and you can usually expect to receive above the current spot price for sovereign government produced bullion products.

Numismatic and semi-numismatic items will fetch prices that are reasonable and based on their resale value. Dealers may also pay a better price on an item they know they can sell quickly.

eBay and Other Online Marketplaces

There are many bullion investors that shop eBay to buy silver bullion. Many are skeptical and cautious when using eBay due to the increase in counterfeit bullion sales. It is quite common to find counterfeit coin reproductions among the listings.

Most bullion buyers on eBay look to make their purchases through sellers with significant and recent positive feedback. Some reputable online bullion dealers such as APMEX, Bullion Exchanges, Liberty Coin often offer lower premiums through their eBay stores.

In addition to buyer skepticism, another major factor is to consider the fees charged. Final valuation fees on auctions can be as high as 13% of the winning price. On top of that, eBay requires sellers to accept only PayPal for payment. This can add an additional 4% in fees.

With combined fees as high as 17%, selling on eBay can be a losing proposition.

There are exceptions. eBay can often the best option when selling graded bullion, numismatic or semi-numismatic items that carry a significant premium.

Pawn Shops & “We Buy Gold” Stores

Local Pawn Shops and “We Buy Gold” stores have always been a place to sell your precious metals investments.

Keep in mind that these places are in business to make a tidy profit. They have overhead costs of operating a storefront, paying rent, utilities, employees, etc.

In many cases, the prices that they are willing to pay are significantly lower than other options. But if you’re in a hurry, these stores can quickly turn your precious metals into cash.

Conclusion – Is Now the Time to Sell Your Silver?

Ultimately, the right time to sell your silver depends on several factors. 

  • The current state of the precious metals market.
  • The value of your specific piece/pieces.
  • Finding the best place to sell.
  • and most importantly, your own financial plans, goals and ambitions.
Posted on

Moscow World Standard Driven by Corruption in the LBMA

FindBullionPrices.com

Gold reserves are a key component of central banking and are pivotal to the backing of and supporting a country’s currency, both for its domestic economy and foreign trade.


For decades, Russia has been increasing their gold reserves and central bank holdings.

The reported amounts of gold held in reserves have varied depending on the source.

The amount of gold actually held inside Fort Knox has been question asked by Congress many times. The answer is always the same. That’s classified.


Recent economic sanctions against Russia includes a ban from participating in the London Bullion Market Association (LBMA),  a global clearinghouse and trading association for large bullion transactions.


As early response to the economic war waged by the NATO allies, Russia began a program to buy gold from citizens in exchange for Rubles, effectively returning to a partial gold-standard.

The gold for Rubles program also helped to stabilize the value of the Russian Ruble in the international currency and exchange markets like FOREX.

The latest strategic move by Russia in the fight against the economic sanctions, Russia’s Finance Minister has announced that they will introduce a new “Moscow World Standard” as a new alternative to the LBMA.

According to Finance Minister Anton Siluanov, the Moscow World Standard is an attempt to stabilize and normalize the functioning of the precious metals industry.

Russia has positioned the new Moscow World Standard as an alternative to the London Bullion Market Association (LBMA) whose credibility in the eyes of the world leaders has been rocked in recent years due to a number of scandals involving price manipulation.

The most recent scandal involves the criminal conviction of Michael Nowak, a prominent LBMA Board member who was outsted from his role with the LBMA following his arrest in 2019.

Nowak was also a top executive at JP Morgan Chase.

In his leadership role as the Managing Director of the Precious Metals Trading Desk, a key position overseeing global trading operations which led to billions in profits to both JP Morgan Chase’s top and bottom lines.

Nowak was charged under the RICO Act. The government had enough hard evidence to support a case that Nowak was the kingpin in charge of a wide-spread criminal organization operating inside the JP Morgan Chase for almost a decade.

Numerous other executives from inside the JP Morgan Chase Precious Metals Group have also been convicted or have pled guilty for their roles and received reduced sentences in exchange for their testimony against the others.

Separate, but Related criminal investigations against other bullion trading banks and trading practices have led to guilty pleas and massive fines in recent years.

Ample evidence exists to support the Russian position that the LBMA and members of the organization have been involved in widespread fraud, price manipulation and exploitation at all levels. The reality is that this type of corruption can and does have long-term effects on the ebbs and flows of the economies in many smaller countries where precious metals are mined, but also some of the other elements such as Lithium, Cobalt and Magnesium which are considered essential and “critical elements” for current battery technology.

Many of the smaller BRICS countries already look to China and Russia for guidance, leadership and assistance on many financial policy decisions due to long-standing and established trading relationships and other international treaties that exclude many NATO countries. As many leaders from these countries have likely encountered difficulties when working within the confines of the system set forth by the LBMA Board of Directors.

Russia has been suggesting greater transparency to some degree for leaders of BRICS nations, many of whom have significant mining operations that are controlled through large private banks and companies affiliated with the LBMA.

https://www.zerohedge.com/markets/jp-morgan-gold-trading-boss-former-lbma-board-member-found-guilty-us-jury
https://www.bullionstar.com/blogs/ronan-manly/lbma-board-member-jp-morgan-managing-director-charged-with-rigging-precious-metals/

https://www.sprottmoney.com/blog/The-Convicted-Criminals-of-JP-Morgan-Craig-Hemke-August-16-2022

Posted on

JP Morgan Chase Precious Metals Traders in Decade Long Price Manipulation Scheme

FindBullionPrices.com

A multi-year investigation by the Justice Department has resulted in the convictions of two key leaders from the Precious Metals Trading Desk at JP Morgan Chase.

The two defendants, Michael Nowak and Gregg Smith were convicted by jury of wire fraud, attempted price manipulation, commodities fraud, and price spoofing involving a scheme that spanned for more than ten years and involved.

The crimes occurred during a span from at least 2008 until at least 2016. The convicted precious metals traders face more than 20 years in prison.

Several other traders involved in the scheme had previously plead guilty.

The guilty pleas and these most recent convictions provide proof to the long held belief that major Wall Street banks have been systematically manipulating the futures prices for profit.

JP Morgan Chase is also a major trustee and depository for major exchanges such as COMEX and others.

Evidence was presented during that trial that Smith placed an average of 20 spoofed orders a day over a 3 year period which accounted for 38,000 trades.

While some of the trades occurred prior to changes in the law in 2010, the Executives, Directors, Managers and Traders from the precious metals desk at JP Morgan Chase were directed employees to engage in illegal trading and price manipulation.

It’s difficult to determine the full extent of the scale of fraud based on the evidence that is publicly available, but it is reasonable to speculate that the overall value of the price manipulation fraud cost investors billions of dollars.

Details provided by the DOJ show that the convicted JP Morgan employees were well compensated for their crimes.

  • Defendant Smith earned $9,890,044 in total (salary plus bonus) compensation;
  • Defendant Nowak earned $23,700,074;
  • Defendant Ruffo earned $10,425,064;
  • Defendant Jordan earned $1,125,016 (2008–2009 only);
  • Donald Turnbull earned $12,727,350;
  • Stuart Piller earned $13,289,936;
  • Michel Simonian earned $4,515,111 (2008–2014 only);
  • John Edmonds earned $1,996,064 in total; and
  • Christian Trunz earned $2,720,049.

The systemic and widespread fraud at the JP Morgan Trading Desk is just one example of the corruption that continues to plague the finance industry which has likely been contributor to the creation of the most recent recession, bear market and related financial uncertainty in global financial markets.

The convictions and guilty please so far have shown that skirting the law has been part of the day-to-day business operations embedded within the workflow of the organization without any checks and balances.

According to public records, news articles and other information, JP Morgan Chase, under the leadership of Dimon has a long history of paying criminal penalties that have resulted from large scale crimes and financial fraud.

While Dimon himself has not been caught up directly in any of the recent criminal investigations, his compensation is tied directly to the performance of the company and he personally profited millions of dollars in bonuses during those years.

Investigations involving major Wall Street and Global Banks precious metals traders have resulted in criminal admissions and financial penalties for engaging in similar schemes.

The price manipulation schemes occurred in the paper trading markets which drives the physical prices of precious metals.

Posted on

2022 Chinese Panda Coin Now Available in Silver & Gold

FindBullionPrices.com
2022 Chinese Panda 30 gram gold coin

A new design of The Chinese Panda coin is released annually. The Panda Bullion Coin represents China in the global bullion market.

The Chinese Panda coin has been minted by The People’s Bank of China, since 1982. The design of the reverse changes annually as is adorned by depictions of the Panda Bear, a national symbol of the People’s Republic of China.

Chinese Panda coins are minted in Silver and Gold from bullion mined in China.

2022 Chinese Panda Series Design

The reverse design of the coin highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.

The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams.

The obverse design of the 2022 Silver Panda coin has remained unchanged since the coins debut.

The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.

Minting of the China Panda Coin Series

The People’s Bank of China is the central bank for the People’ Republic of China and is responsible for managing monetary policy and regulation of financial institutions throughout China.

Since 2016, the People’s Bank of China changed the weight of the China Gold Panda and Silver Panda coins to metric weights.

In 2015 and prior, the coins were minted in 1 oz and fractional ounce coins.

Beginning in 2016, the China Silver Panda and China Gold Panda coins have been minted as 30 gram coins, which is slightly less than 1 troy ounce.

Switching their silver and gold bullion coins to metric weights has not yet had much influence on other government mints.

The majority of government and private mints continue to use the traditional Roman Monetary System or British Imperial troy ounce denominations for which has been in use by the Bretton Woods system most Western Nations.

2022 Chinese Panda Coins Collection

The 2022 China Panda Coin collection consists of 14 coins that feature the same design.

  • 2022 Chinese Panda 30 gram gold coin2022 Chinese Panda 30 gram Gold Coin – The 30 gram circular gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 32mm and face value of 500 yuan (500 元). The maximum mintage is 1,000,000 coins.
  • 2022 Chinese Panda 15 gram gold coin2022 Chinese Panda 15 gram Gold Coin – The 15 gram circular gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 27mm and face value of 200 yuan (200 元). The maximum mintage is 250,000 pieces.
  • 2022 Chinese Panda 8 gram gold coin2022 Chinese Panda 8 gram Gold Coin – The 8 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 22mm and face value of 100 yuan (100 元). The maximum mintage is 250,000 pieces.
  1. 2022 Chinese Panda 3 gram gold coin2022 Chinese Panda 3 gram Gold Coin – The 3 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 18mm and face value of 50 yuan (50 元). The maximum mintage is 500,000 pieces.
  1. 2022 Chinese Panda 1 gram gold coin2022 Chinese Panda 1 gram Gold Coin – The 1 gram round gold coin, is minted from .999 pure gold and with a bullion finish. The coin has diameter of 10mm and face value of 10 yuan (10 元). The maximum mintage is 500,000 pieces.
  1. 2022 Chinese Silver Panda 30 gram coin2022 Chinese Panda 30 gram Silver Coin – The 30 gram round silver coin, is minted from .999 pure silver and with a bullion finish. The coin has diameter of 40mm and face value of 10 yuan (10 元). The maximum mintage is 10,000,000 pieces.
  1. 2022 Chinese Panda 30 gram Platinum Coin – The 30 gram round platinum coin, is minted from .999 pure platinum and with a bullion finish. The coin has diameter of 32mm and face value of 1000 yuan (1000 元). The maximum mintage is 10,000 pieces.
  1. 2022 Chinese Panda 1 gram Platinum Coin – The 1 gram round platinum coin, is minted from .999 pure platinum and with a bullion finish. The coin has diameter of 10mm and face value of 30 yuan (30 元). The maximum mintage is 100,000 pieces.
  1. 2022 Chinese Panda 1 kilogram Gold Coin – The 1 kilogram round gold coin, is minted from .999 pure gold and has a proof quality finish. The coin has diameter of 90mm and face value of 10,000 yuan (10,000 元). The maximum mintage is 1,000 pieces.
  1. 2022 Chinese Panda 150 gram Gold Coin – The 150 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 60mm and face value of 2,000 yuan (2,000 元). The maximum mintage is 10,000 pieces.
  1. 2022 Chinese Panda 100 gram Gold Coin – The 100 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 55mm and face value of 1,500 yuan (1,500 元). The maximum mintage is 20,000 pieces.
  1. 2022 Chinese Panda 50 gram Gold Coin – The 50 gram round gold coin, is minted from .999 pure gold and with a proof quality finish. The coin has diameter of 40mm and face value of 800 yuan (800 元). The maximum mintage is 30,000 pieces.
  1. 2022 Chinese Panda 1 kilogram Silver Coin – The 1 kilogram round silver coin, is minted from .999 pure silver and with a proof quality finish. The coin has diameter of 100mm and face value of 300 yuan (300 元). The maximum mintage is 20,000 pieces.
  1. 2022 Chinese Panda 150 gram gram Silver Coin – The 150 gram round silver coin, is minted from .999 pure silver and with a proof quality finish. The coin has diameter of 70mm and face value of 50 yuan (50 元). The maximum mintage is 60,000 pieces.

2022 Chinese Silver Panda Coins

The 2022 Chinese Panda Silver Coin has a new design for the 40th Anniversary of the Chinese Panda Coin Series.

The reverse design of the coin highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.

The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams. A special 40th anniversary privy mark is also incorporated into the reverse design.

The obverse design of the 2022 Silver Panda coin has remained unchanged since the coins debut.

The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.

At the center of the obverse is The Hall of Prayer for Abundant Harvests, which is located in Beijing’s Temple of Heaven.

The tiered circular building is an example of traditional Chinese architecture. 

Legend has it that all of the Emperors from China’s Ming & Qing dynasties would visit the temple annually and pray to the gods for an abundant harvest.

At the top of the obverse is the name of the issuing country in native Chinese characters (中华人民共和国), while at the bottom is the date, “2022”.

The 2022 Chinese Gold Panda Coins are available from online bullion dealers in 1 bullion finish denomination:

2022 Chinese Gold Panda Coins

The 2022 Chinese Panda Gold Coin has the same new design for the 40th Anniversary of the Chinese Panda Coin Series.

The reverse design of the gold coins highlights two panda cubs playing gleefully in the snow. They appear to be having fun, sliding down a hillside in the snow with arms and legs outstretched.

The reverse also displays the denomination in yuan, China’s primary currency, the weight of 30 grams and the 40th Anniversary Privy mark.

The obverse design of the 2022 30 gram Gold Panda coin has remained unchanged since the coins debut.

The obverse contains a depiction of the Temple of Heaven, located in Beijing, China.

At the center of the obverse is The Hall of Prayer for Abundant Harvests, which is located in Beijing’s Temple of Heaven.

At the top of the obverse is the name of the issuing country in native Chinese characters (中华人民共和国), while at the bottom is the date, “2022”.

The 2022 Chinese Gold Panda Coins are available from online bullion dealers in 5 bullion finish denominations:

People’s Bank of China

The 2022 Chinese Panda gold and silver coins are minted by the People’s Bank of China (中国人民银行). The gold and silver Panda coins are distributed by China Gold Coin Incorporation (CGCI).

Posted on

Investing in Canadian Silver Maple Leaf Coins

FindBullionPrices.com

Canadian Silver Maple Leaf Coins

The Canadian Silver Maple Leaf coin is a pure silver bullion coin featuring .9999 fine silver with a beautiful design. Investors and collectors around the world seek out the Silver Maple Leaf due to its high quality and global recognition.

The Maple Leaf coin was first minted in a gold bullion version in 1979 by The Royal Canadian Mint.
Minting of the silver version of the Maple Leaf coin began in 1988.

Silver Maple Leaf Coin Specifications:

  • Each silver maple leaf coin contains one full ounce of pure silver
  • It has a certified purity of .9999 fine silver
  • Its diameter measures 38.0 mm
  • It has a thickness of 3.29 mm
  • The obverse of the coin features a sculpture of Her Majesty, Queen Elizabeth II
  • The coins reverse displays a maple leaf, which is Canada’s national symbol
  • It carries a face value of $5.00 Canadian dollars

The profile effigy of Queen Elizabeth II that is featured on the 2019 Canadian Silver Maple Leaf coin was designed by Susan Blunt.

Reasons to Buy Canadian Silver Maple Leafs

Silver Maple Leaf Coins make a great investment for anyone looking to diversify with precious metals. The coin’s purity, global recognition, low premiums and backing by the sovereign government of Canada are all reasons that investor demand for Silver Canadian Maple Leaf coins is high.

The Canadian Silver Maple Leaf makes a fine addition to any collection or investment portfolio.

Whether you’re in the market for a few or an entire Monster Box, shopping around to multiple dealers is the best way to find the most competitive prices.

Wading through all the places to buy Silver Maple Leaf Coins is a challenge. Instead, begin by browsing FindBullionPrices.com to find the best Silver Maple Leaf prices from trusted and reputable online bullion dealers. Chances are that at least one or more will suit your needs.

Cheapest Silver Maple Leaf Coins

When you buy Canadian Silver Maple Leaf coins it is important to pay the lowest possible price for your investment. Many Silver Maple Leafs are prone to a condition called “Milk Spotting”, particularly coins minted prior to 2018.

Milk Spotting occurs as a result of the minting process in which the bullion coins are rinsed using a special cleaning agent. Residue left on the coins can cause a whitish, milky looking haze to develop on the faces of the coin over time.

Milk spots on Canadian Silver Maple Leaf coins can be troubling for investors that buy numismatic coins. However, the majority of Silver Maple Leafs are bullion coins which have only intrinsic value due to their silver content. Milk Spots on bullion coins to do effect their intrinsic value.

Smart investors looking to buy the cheapest Canadian Silver Maple Leaf coins will find that the best prices can be found with secondary market coins that may have milk spots, tarnish or be in cull condition.

Posted on

Where to buy Cheap Canadian Silver Maple Leaf Coins?

FindBullionPrices.com

Canadian Silver Maple Leaf coins make a great investment for any precious metals portfolio. Silver Maple Leaf coins are minted from .9999 (four nines) pure fine silver, making them one of the purest silver bullion coins produced in the world.

The design of the Canadian Silver Maple Leaf coin features a national symbol of Canada, the glorious maple leaf on one side, and a profile of Queen Elizabeth on the other.

Silver Maple Leafs are minted by the Royal Canadian Mint and are backed by the sovereign government of Canada for their purity and quality.

A common issue with Silver Maple Leaf Coins, as well as other silver coins issues by the Royal Canadian Mint, has been that over time the coins can develop a milky sheen on the surface. The milky sheen can be just some small spots or can cover the coin entirely.

What causes milk spots on Silver Maple Leaf Coins?

The milk spots that have appeared on Canadian Silver Maple Leaf Coins has been often blamed on the rinsing solution that has been used during the minting process.

To combat the problem of milk-spots developing on Silver Maple Leafs, the Royal Canadian Mint introduced “MintShield” technology on bullion coins produced from 2018 onward.

MintShield is a unique production process developed to reduce the occurrence of white milky spots from developing over time. The process is applied to coins during the minting process. It is invisible to the naked eye and has no impact on the purity or composition of the Silver Maple Leaf Coins.

Milk spots, while not aesthetically pleasing, have little to no impact on the value of the silver bullion.

On the secondary market, buying Canadian Silver Maple Leaf coins that have milk spots represents an investment opportunity. Milk spotted Silver Maple Leaf coins are often sold by bullion dealers at a discount.

You can buy Silver Maple Leaf Coins with Milk Spots from online bullion dealers. Sometimes these are listed in the product description as milk spotted, circulated or cull Maple Leafs. Coins with milk spots will usually be the cheapest way to buy Silver Maple Leaf coins.

Posted on

Where can I buy the cheapest American Silver Eagles?

FindBullionPrices.com

The cheapest American Silver Eagle coins for sale on the secondary market are usually “Cull” coins. The condition of Cull Silver Eagle coins will vary from dealer to dealer and from batch to batch. The conditions will usually show:

  • Signs of scratches
  • Some wear and tear
  • Signs of circulation and handling
  • May have been cleaned
  • May have been painted
  • Imperfections or other damage
  • May be tarnished from age or exposure to air

Since the American Silver Eagle coin is considered a bullion coin (as opposed to proof coins), a cull coin will still contain 1 troy ounce of silver. Even in cull condition American Silver Eagle coins are still the most recognized
government bullion coin in the world. The cheapest American Silver Eagle coins you can buy will be ones in cull condition.

Where to buy the Cheapest Silver Eagles Online

Dealers that offer cull condition and secondary market American Silver Eagle coins will have product listings on their website. The description or title of the listing will identify the coins as Random Year or Cull American Silver Eagle coins. FindBullionPrices.com
racks the prices of both Random Year American Silver Eagle coins and Cull American Silver Eagle coins from a variety of reputable national bullion dealers.

Posted on

Buying Silver Bullion on eBay

FindBullionPrices.com

When you click on links to various merchants on this site and make a purchase, this can result in this site earning a small commission. More information about our affiliate programs can be found here.

The major online silver bullion dealers all have eBay Stores as well. Silver deals can be found on eBay from trusted and reputable sellers. Most of the time the prices offered by the major dealers on eBay are comparable to the credit card prices for the same items listed on their websites. When combined with special offers such as eBay Bucks or periodic eBay 10-15% discount coupons it is possible to get great deals on silver bullion below spot price.

The best deals for buying silver on eBay come at times when eBay is offering a promotion. Periodically throughout each financial quarter, eBay runs promotions involving their eBay Bucks program which increase the eBay Bucks earning to as much as 10% on qualified purchases. At other times, eBay may offer a one-time use discount coupon that could be as much as 10% or 15% of a single purchase.

Buying Silver on eBay During Promotional Periods

Buying silver on eBay during promotional periods is almost like getting a 10% discount on silver bullion. eBay Bucks is a rewards program that acts similar to the way cash-back credit card programs work. Normally, eBay Bucks earns a 1% reward on qualified purchases.

When eBay runs an eBay Bucks promotion the increase in the cash-back reward can be as high as 10%. The cash-back rewards accumulate through each financial quarter and become eligible and must be spent during the first month of the subsequent financial quarter.

When shopping for silver and gold bullion on eBay the prices and premiums often seem unrealistically high, even from trusted and reputable dealers. This is partly due to the fees eBay charges sellers for listings. As well, PayPal fees are typically incorporated into the cost as well. Combined, these fees can make the cost of some products up to 10% to 15% higher than they seem on bullion dealer websites.

However, not all silver bullion purchases will be eligible for earning eBay Bucks or for purchasing with a discount coupon. Items that are specifically or cross-listed in “Bullion” categories are automatically ineligible. Just as gift cards are typically ineligible as well. This is due to a combination of anti-money laundering laws relating to untraceable cash equivalents as well as specific eBay Policies regarding discounts of items in certain categories where sellers are often provided with discounted fees.

Comparing eBay Prices to Those Found on Dealer’s Websites

When comparing prices on eBay for Silver and Gold bullion it’s important to make sure that you’re comparing it to the Credit Card/PayPal price that is listed on the dealer’s websites. This is the closest comparable price.

In addition to the normal fees that PayPal and other credit card processors charge the dealers, eBay tacks on as much as 10% or so in additional fees for each item sold through it’s platform. In some cases, each dealer has a negotiated contract which provides them with lower fees because of the large volume of purchases.

In some cases, the dealers will absorb the extra fee and in some cases it is passed on to the customer with a slightly higher premium than the dealer would charge on their own website.

Typically, dealers like APMEX, Bullion Exchanges, Liberty Coin and BOLD Precious Metals will sell silver bullion on eBay that is eligible for eBay Bucks and other promotions. Dealer’s are aware of when the promotions are running and will often adjust their pricing on eBay accordingly knowing that savvy buyers are looking for a good deal.

During the promotion periods it’s common to find both foreign silver coins and Pre-1933 US Gold coins available for close to or below spot price when factoring in the promotional discount or earned eBay Bucks.

 

Posted on

Compare Premiums to Determine Which Silver Dealer Has the Best Price

FindBullionPrices.com
shipping silver bullion

When you buy silver and gold bullion from online dealers the pricing displayed on their websites can be confusing. It can sometimes be hard to tell if you’re getting a good deal or not.

All bullion dealers, whether online or a local coins shop, price their bullion relative to the spot price of the precious metals. The price the dealer charges over spot price is called the dealer premium.

The only way to know whether or not you’re getting the best price when you buy precious metals online is to compare the dealer premiums over spot price.

Comparing dealer premiums for a particular item, whether it’s the latest American Silver Eagle coins, 10 oz silver bars, or Pre-1933 gold coins, can be a tedious and time consuming job. Looking for the same item across multiple dealer websites takes time.

FindBullionPrices.com provides tools to help simplify the process for buying silver and gold bullion from online dealers. We pull the latest prices from many trusted and reputable bullion dealer websites for over 300 unique products.

Each product listing is designed to make it easier to decide which dealer has the best deal when you buy bullion online. The product listings display the current spot price, including the melt value for each item. The current price the dealer is selling an item for is displayed, along with the calculated dealer premium over the melt value.

For each product we try to show as many dealers as possible that are selling a particular gold or silver coin. Dealer inventories can change quickly so we may not always show every dealer that is selling a particular item, though we try to do the best we can.

Shipping Charges and the Myth of Free Shipping

Many online bullion dealers offer free shipping when you place an order over a certain dollar amount. For a lot of bullion dealers, the free shipping threshold is that orders over $99 ship for free. The cost of the shipping is generally included in the dealer premiums.

Several online bullion dealers offer free shipping for all orders regardless of the dollar value of the order. These dealers typically have much higher premiums per item to cover the shipping costs.

Still, there are other dealers that are more transparent in their pricing and cost structure. They may not offer free shipping at all, or have a higher minimum order dollar value threshold for offer free shipping.

As silver and gold bullion are commodities, market conditions dictate the price trend which affects the price you pay. As with any business, each dealer has different levels of overhead, operating costs and desired profit margins.

Some online bullion dealers prefer high volume with lower margins while others may charge a heavy premium, especially when purchasing lower quantities or lower order values.

The top trusted and reputable online bullion dealers willing to compete on both service and price, who are interested in establishing long-term stacker customers that will continue to buy from them on an ongoing basis, are the dealers will to compete on price and provide the best customer service.

Payment Methods and Types

Our dealer listings section has a page that shows the payment methods accepted by dealer accepts and displays information regarding the shipping policies, minimum order value thresholds for free shipping and more.

Virtually all online bullion dealers accept credit cards, checks and wire transfers for payment. Dealers that accept credit cards and PayPal as payment methods typically incur a fee for each transaction. The fee that credit card companies and PayPal charges the dealer are typically 3% to 4% of the dollar value of the order. These fees are included in the cost.

Online bullion dealers often display on their product pages two or three different prices. Dealers will usually display the Cash Price and the Credit Card/PayPal price, and some dealers may display a third category that have begun accepting BitCoin and other cryptocurrencies for payment.

Paying the Cash Price for Silver & Gold Bullion

The lowest price is the Cash Price. The Cash Price when you buy gold or silver from an online dealer represents the equivalent to walking into the store and paying cash. This is obviously not possible when making an online transaction, so this price also often represents the price if you were to mail a check to the dealer, use an e-check option or perform a wire transfer.

Some  credit card companies and payment processors have requirements that forbid merchants from charging a fee for accepting credit cards as a payment method. Online bullion dealers get around this by offering the items for sale at a Credit Card/PayPal price that is typically 3% to 4% higher than the Cash Price. While the Cash Price is often referred to as a discounted price for using Cash, Check, e-Check or wire transfer as a payment method.