Buying silver coins is a great form of investment. In this day when the recession is looming over our heads and paper money is slowly losing its worth, you need to have something to fall back on. As the precious metals gain value, the dollar seems to fall strangely enough. If you are buying precious metal you should develop patience and certain skills.
No. The huge majority of our customers buy gold to own it for the medium to long term, and choose BullionVault as the safest store of wealth they can find. Active traders are the minority who like watching for opportunities on the market.
Another word of wisdom. You have a choice to make. Do you buy something rarer and lower quality or a higher MS and more plentiful? If it’s a Morgan silver dollar at $100, which is the better choice? It depends on what you will do with the coin. Is it for show? Then go for the luster and lower defects. After all, you want to show off your best. But if appreciation is the goal, a rarer coin might prove better in the long run. Either way, only spend what you can afford and have fun. Get a good beginners book for collectors and invest in the “Official Red Book” of US coin values. Learn what’s out there on the internet and visit a local “>coin shop Pine Hall
Bars are more rare to find in coin shops than rounds, but they are available from time to time. More likely, you will purchase bars from a large dealer over the phone or online. Popular retailers include APMEX, Bullion Direct, and The Tulving Company.
To learn about the values of our old coins (as if we would ever want to sell them!) my family uses The Official Red Book: A Guide Book of United States Coins, because it’s easy to read and the information is very nicely organized. Coin books also teach about coin values so that before you go on a coin shopping trip, you will know what you should spend on a 1922 Buffalo nickel or some other treasure for your collection.
(Q) Do you have any tax reporting requirements on a customers sale of gold….if tomorrow I sell a million dollars worth of BV gold, is that sale reported to the tax services?
Yes. All BullionVault gold is delivered. But this word ‘delivery’ is not synonymous with ‘possession’ and the subtle difference is very important – especially for gold. With BullionVault you take delivery at the instant of trade. From that point the gold is your property, even though it continues to be looked after by your professional bullion custodian.
In other words now that you know the old coin value, depending if you are a coin collector or an investor, you can decide whether you want to sell it or keep it for your collection. Keep in mind that if you hang on to your old coins for a long period of time there is a good chance that the value will climb.