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Cheapest American Silver Eagle coins

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Cheapest American Silver Eagle

American Silver Eagle Coins, the Silver Standard

The American Silver Eagle (ASE) coin has become the most recognized government issued bullion coin in the world. Introduced by the US Mint in 1986, the American Silver Eagle bullion coin has stood the test of time. Millions of Silver Eagle coins are minted each year. Investors and silver stackers are always on the hunt for the cheapest American Silver Eagle coins available.

Silver Eagle Premium

Authorized Purchasers are bullion wholesalers. Authorized Purchasers buy Silver Eagle coins at a fixed premium of $2.35 per coin over the LBMA silver spot price.  This automatically sets the price of American Silver Eagle coins higher than generic silver bullion. The dealers pass this premium on to consumers along with an additional premium that represents the dealer’s price markup.

Cheaper American Silver Eagle – Random Year (BU)

There are opportunities for buying American Silver Eagle (ASE) coins at a significant discount. Dealers trade American Silver Eagle coins from individuals at a discounted price as part of the precious metals secondary market.

Dealers sells these coins for sale at a discount. This helps to pass some of savings on to end users by offering discounts on “Random Year” coins. This usually means that the dealer has an inventory of coins that they’ve likely acquired from different individuals over time.

Random Year American Silver Eagle coins are one of the best values available for silver investors and silver stackers.

Cull Condition – The Cheapest American Silver Eagles

The cheapest American Silver Eagle coins available for sale on the secondary market are usually “Cull” coins. The condition of Cull American 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
  • Imperfections or other damage

A cull ASE coin will still contain 1 troy ounce of silver and the intrinsic value remains. 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 most often be ones in cull condition.

Where to Find the Cheapest American Silver Eagle coins

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 tracks the prices from a variety of trusted and reputable online bullion dealers. The price of Random Year American Silver Eagle and Cull American Silver Eagle coins varies based on daily changes to the silver spot price.

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What is Secondary Market Bullion?

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Secondary market metals are like the used car market for silver and gold bullion. Newly minted bars, coins are rounds are sold by online bullion dealers, local coins stores and pawn shops shortly after they have been manufactured.

When a bullion investors decides to divest their holdings, the precious metals are often sold back to a local coin shop, pawn shop or online bullion broker.

In some cases the bullion is sent back to a refinery where it is melted and recycled into another form.

Most of the time the bullion is resold to other investors as-is and becomes part of the secondary market.

This does not change the quality of the metal. And there is very little difference than when it comes from the original source.

Investments in secondary market metals hold the same value as similar newly minted bars, the primary difference is the source of the precious metals.

The primary driver for buying gold and silver bullion from secondary markets is the lower price, particularly when you’re looking for the cheapest premiums over spot.

Cheap Silver and Gold

There are several reasons why you should look to buy secondary market precious metals. Below are just a few of those reasons.

  • When a broker buys precious metals from individual investors they will often pay a price slightly below the melt value, which allows them to price these products lower than newly minted products.
  • You can often discover harder to find 10 oz silver bars and backdated gold coins.
  • Price is often lower because the coins may show some signs of wear, scruff marks, small scratches or tarnish.
  • It is a good way to get started into Precious Metals investing because the premiums are often lower. (Buy Silver)

These are just a few of the reasons people buy secondary market metals, investors have a large variety to choose from that are high in quality and offer great value.

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Buying silver bullion at spot price

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Many articles you may read online talk about not worrying about spot price when you’re buying silver. The reasoning behind that way of thinking is that buying silver is an investment. And like other investments the price of silver will go up over time. I think that way of thinking is foolish. Dollar-cost-averaging is great, assuming that the value of your investment is going to rise dramatically over time. Silver just does not historically perform that way.

Buying silver at spot price is like the holy grail for silver stackers. Buying silver at spot price avoids paying the premiums that dealers charge over spot. The premium on silver is where the dealers make their money. It’s the reason why the price of an ounce of generic silver bullion varies from dealer to dealer.

One bullion dealer, “Dealer  A” might sell a one ounce Sunshine Mint silver bar at 59 cents over spot. While another bullion dealer, “Dealer B”, might sell the same Sunshine Mint one ounce silver bar for $3 over spot.

What is Dealer Premium?

Why is there so much difference in price between Dealer A and Dealer B?

Even though they are the exact same product, Dealer B can charges more for that product because they can.

Many silver stackers tend to be a loyal to two or three different online dealers, regardless of whether that dealer offers the best prices for the same products. The main reason is trust.

Spot Price Deals

There are some bullion dealers that do offer some products for sale at spot price. They do this as a way to lure new customers to try their product and their service. Some of them are newer bullion dealers that are trying to establish themselves in the marketplace. Others are established dealers looking to lure customers from their competitors.

Whatever the reason, buying silver at spot price from these dealers is an opportunity to get a decent amount of silver bullion for the lowest price possible.

Use FindBullionPrices.com to find the deals to buy silver at spot price.