By: John Fisher
Who to buy from? What to pay? Ask the U.S. Mint! Over the weekend the Tribune Media Services ran a syndicated column reviewing a limited number of coin dealers (click here to read the article). The article points out that physical coin buyers can get “fleeced” if not careful with whom they are dealing.
The bottom line of the article is that if you pay 5 – 8% over the spot price for bullion items, you are in the typical, or reasonable zone. What the article doesn’t point out is that buying from the U.S. Mint’s authorized purchasers is nearly impossible due to the application, volume and payment requirements. Prices, in most cases, cannot be locked in without funds on deposit. And, attempting to speak to someone for advice and counsel is out of the question.
In addition, they supplied a list of authorized dealers that provided their mark-ups. You need to ask what price they are marking up from – it is most often not the spot price (this applies to ALL dealers). Don’t focus on mark-ups – you need to understand where they truly derive their base price from.
We sell all bullion items for as little as 3% to a maximum of 7% over spot. We will lock in your price at the time of your order and allow you to remit payment shortly thereafter. We ship for free on orders of $15,000 and discount shipping for smaller orders. We will buy back gold or silver in any form, whether purchased from us or not. Above all, we consider confidentiality and privacy paramount – a hallmark of our firm. We will advise you as to how that can be accomplished legally.
All Things Considered – John’s Commentary
Price is a very important consideration. There are many other considerations that will become increasingly important down the road that will overshadow any nominal difference in the purchase price. Contact us to learn about the important aspects you should consider in addition to price.
What to buy: Market timers are virtually never successful. If you have been waiting to take a position, or add to a position, you can continue to wait and watch as the price moves up and away.
There are excellent, low premium buys in gold and silver right now. Do not wait. Trying to save a buck or two now will mean nothing a year from now. If you don’t have your position, you will find yourself saying “I should have…..”
Quote of the day: “Whenever an overall breakdown of a monetary or financial system occurs, return to gold always restores order, revives confidence and brings back prosperity.” – Donald Hoppe
