Silver Eagles-how much is too much to pay?
 

I just got into investing in gold and silver coins. Of all the places to buy, I actually bid on some Silver American Eagles on Ebay and won a few of the auctions. Basically, I was bidding on 2006 coins and I the final prices with shipping included was between $14.50 and $16. Did I pay too much? I realize the spot price is about $10.20 as I'm typing this, so with that known, how much more should the American Eagle itself command? Basically I'm looking for the formula to determine what the fair price to pay is at any given time per coin. Any help would appreciated and thanks.

Re: Silver Eagles-how much is too much to pay?
 

Check out www.apmex.com

The premium varies depending on the quantity. If you're investing, (looking for silver at or above 20 frns), I'd stay away from the eagles. Go for something with less or no premium.

Welcome aboard.

:eating: beef

Re: Silver Eagles-how much is too much to pay?
 

Anything over $12.50 is too high, Although I saw them last Sunday going for $13.00-$14.00

Re: Silver Eagles-how much is too much to pay?
 

well, it kind of depends on where you are. For example, I can go to a dealer near by and currently get an eagle for about 12 bucks
I do have to drive there (gas, wear and tear on my car and my time)

If on the other hand I buy online there are some places to get at about this price but shipping/handling need to be factored in as well as minimum quantities. Also there is the factor of remaining anonymous if you buy locally at a dealer vs online.

Re: Silver Eagles-how much is too much to pay?
 

I won't go over $2 over spot for Eagles, but I'm a rookie at this so, don't take my advice. I like money that is beautiful, just like I like women. Face it I like Eagles, I'm shallow.

Those special deals for Eagles that you see from Littleton's and in the NRA magazines are a good place to start. I also agree with Eat_Beef, I have dealt with APMEX and was very satisfied. Howsoever, I've only bought 90% and rounds from them.

Oh, BTW, welcome to the forum Marine Pride

Re: Silver Eagles-how much is too much to pay?
 

$2 over spot was the answer I was looking for Elijah. Actually, you answered the question with what I was looking for.

Spot price + American Eagle minting = How much I should pay

Shipping and handling needs to be factored in as well.

Re: Silver Eagles-how much is too much to pay?
 

Why pay shipping and handling when you can go to a coin show and pick it up right there with no shipping and handling???

http://www.coinshows.com/
http://www.coinworld.com/News/ShowCalendar.asp

Re: Silver Eagles-how much is too much to pay?
 

Thanks Rob, I bookmarked those two sites. I did know and plan to attend the one in Columbus, Ohio this weekend.

Re: Silver Eagles-how much is too much to pay?
 

Cash and carry shows are the only way to buy :D

Re: Silver Eagles-how much is too much to pay?
 

I ordered from an ad in the April '06 American Rifleman where the they have SAE for $10.55 and GAE 1/10 oz for $60. New customers only and the max per household is 20 and 3 respectively. The company is First Fidelity Reserve out of Texas. Shipping was only $10 and they take a credit card. Is this a deal or what?

Order total was $401.00 and they honored the prices in the mag, even though it is lower than current spot prices.

Re: Silver Eagles-how much is too much to pay?
 

10.55 per Silver Eagle with 50 cents per Eagle for shipping, which brings it to 11.00 per eagle. Thats not too bad of a deal.

Again I wold have saved myself the 10 dollars shipping by buying a roll at a coin show.

Re: Silver Eagles-how much is too much to pay?
 

Guys, I think I better get off line and head into town. Got to make a withdrawal of FRN's for this weekends show!!!!

Re: Silver Eagles-how much is too much to pay?
 

You could have done better.Anyone ever tried those "Intro" offers? - Gold & Silver Forum:clap2: :clap2:

Re: Silver Eagles-how much is too much to pay?
 

You are getting into gold and silver investing at a very opportune time. I'm sure you have noticed what silver and gold have done over the last year or so. I'm a firm believer silver will make $100.00 an ounce in my life time, and I'm an old geezer. Gold I predict $1,500.00 per ounce. Like anything else, the more you buy, the better the price. I got my best deals buying silver eagles by the U.S. Mint green box (500 coins). I have a half dozen local coin dealers in my area and called them up to get my best price. You will also get good deals on the internet if you are willing to wait for delivery.

The gold and silver spot prices constantly vary from hour to hour and can spike or correct greatly in an hour. Always check the internet prices and print it out before making a purchase.

I cashed in much of my 401k to buy the silver eagles by the box about 5 years ago. If memory serves, I paid about $6.00 per coin? Now I see there selling for about $12.00 each. Not a bad return, but like I stated, I'm convinced silver will go through the roof in the future.

Just some diversification food for thought. Bullion silver in 100, 10, and one ounce bars are cheaper to purchase. You get more "bang" for the worthless fiat reserve note. However, the silver eagle is recongized around the world and is easily liquid and tradable. Silver eagles have a premium because it is minted as a coin, not much chance of counterfitting. When it is time to cash in, a silver eagle will not be asseyed for silver purity. You'll get your money and run. With silver bullion, especially in 100 or 1000 ounce bars, the buyer may want to assey it to insure its' silver content and weight, which takes time you may not wish to invest. If you purchase silver bullion I suggest names like Englehard, J&M, or Amark bars.

You have the right idea for you and your families future saving some in precious metals. Through out all of history paper money has failed, it was printed out of existance and value (inflation). I could write a book on how stupid it is to save PAPER that is not backed by anything and owes you nothing but a worthless "promise".

Shewww weee! Did I get carried away! I strongly suggest you convert your paper assetts into commodities such as oil, oil transport, gold, silver, sugar, coffee, mining stocks, etc. Ask yourself what is "true" wealth. Then ask yourself what is paper wealth that can disappear with no notice.

Man, am I long winded or what?

Re: Silver Eagles-how much is too much to pay?
 

If you go to nwtmint.com you can see what bulk pricing is, then judge from there. I try to buy bulk at 2-3 frn over $pot.

Re: Silver Eagles-how much is too much to pay?
 

IMHO I believe that E-Bay is not a very good place to buy Silver Eagles. The prices way overshoot spot + 2 FRNs. Even buying the tubes of 20 Eagles go overboard in price.

The only way imo to buy silver on E-Bay is if a coupon for something like 10% off is availble.

On the other hand, I do okay on getting Gold on E-Bay.

So, like others have said, the best ways to go are:
CNI
Tulving
Ampex
Bullion Direct

I have direct experience with Bullion Direct and have had no problems.

Re: Silver Eagles-how much is too much to pay?
 

Your comments were welcome and worth reading. Welcome Dennis.
:clap2:

Re: Silver Eagles-how much is too much to pay?
 

Keep an eye on this page:

http://www.bulliondirect.com/nucleo/....do?category=1

Two week delivery time, but who's perfect?