Sunday, October 20th, 2019 MST

Buying the right form of gold and silver

For the 45 years that I’ve been a gold/silver dealer, I’ve never recommended numismatic or collectible coins.  And, I’ve been proven right.

Old US gold coins ($20 Double Eagles: $20 Liberty Heads and $20 Saint Gaudens) are now liquidating at bullion coins prices.  Specifically, MS-63 $20 Libs and Saints are liquidating, on a per ounce basis, at the same value as 1-oz. Gold Eagles.

During the 1980s and 1990s, MS-63 Libs and Saints carried “natural” premiums  of 20% to 30% but were sold by telemarketers with premiums as high as 50% to even 100%.  Now those coins liquidate at bullion coin prices.

I’ve recommended bullion coins that had the potential to become numismatic/collectible coins, such as the Year 2000 1-oz Gold Dragons, but I’ve never promoted high-premium coins just so that I could earn higher margins of profit.  Within a year or so of the Dragons selling out (30,000 coins), they achieved huge premiums.

Now on CMI’s Website Home Page is our Gold & Silver Buyer’s Guide that lays out my philosophy when it comes to investing in gold and silver.  If you have friends whom you know to be interested in gold/silver, they really need to know the information in this Guide.  Change pages by clicking on the arrows.

2 Responses to “Buying the right form of gold and silver”

  1. Jim

    I currently own Gold 1 ounce 2016 American Eagles in a self directed IRA. Is there any benefit to sell these off and purchase pre 1933 graded Gold coins?

    Reply
    • Bill Haynes

      It is generally recognized that old US gold coins are not eligible to be put into IRAs. With the gold-silver ratio around 85, you might want to consider trading the Gold Eagles for silver.

      Reply

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