Silver bullion or coins?
Question by BobSmiith: Silver bullion or coins?
For less then $ 300 hundred dollars would you suggests silver bars, rounds, or something like American Silver Eagles or Canadian Maples? Is it safe to buy these from a website or better to go to some kind of coin shop? If so, what are some trusted sites?
Best answer:
Answer by Possum
Doesn't matter if you get bars or rounds. Silver is silver (as long as the purity is the same).
I prefer sounds like the Canadian Maple Leaf or the Austrian Vienna Philharmonics. Both are .999 silver but I like the coins better than the others.
If you are just looking to spend 300, I would try to buy at a local store. You could buy online but if you aren't buying a large quantity the price is going to be higher and then you have to pay for shipping and handling.
http://bullion.nwtmint.com/silver.php
I have never bought from this sight but I know people that have. They said it was a good one.
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If the US enters hyperinflation, can silver coins be used as money?
Question by : If the US enters hyperinflation, can silver coins be used as money?
I have silver coins such as the American Eagle, Buffalo, and Canadian Maples. The us constitution has the coinage act, which states that copper and silver coins are considered as money to pay off debt. Does anyone know if silver coins are circulated us coins can be used to purchase goods during hyperinflation? Thank You for your answers!
Best answer:
Answer by Spotty J
First of all, nothing in the constitution forces anyone to accept anything specific in payment of debts -- that's between you and whoever you owe money to. The only thing the government forces people to do with respect to money is to pay taxes to the government with U.S. dollars, and accept payment from the government in US dollars. Everything else is a private affair. We standardize on the currency that the government collects and spends because it would be pointless and inefficient to do anything else.
In the case of hyperinflation, we'd still all be using the usual currency, it would just take more of it to buy stuff. No, people are not going to start spending collectible silver coins as cash. Actually, people would hoard such things in a high-inflation scenario, not spend them as they would be a way to retain value. Canadian coins are not and will not be legal tender in the U.S. in any circumstance -- though again, "legal tender" refers to what the government collects and spends -- any private business is free to accept anything you have to offer including your dirty laundry, if they are willing to accept it as payment.
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2011 American Silver Eagle Sealed In Airtite Case .999 Fine Silver
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Does cleaning bullion silver coins degrade their value?
Question by : Does cleaning bullion silver coins degrade their value?
I was curious to know if cleaning bullion silver such as the American Eagle and Canadian silver dollars lowers the value of the coins. I know on other older coins cleaning them drops their value considerably.
Thank you.
Best answer:
Answer by curtisports2
It does. You would think that nobody would care, because bullion is bullion. But the fact is that bullion coins like the Eagles and Maple Leafs sell for a slight to large premium over spot market prices, depending on the year. For example, the 1996 Eagles saw the lowest production of any year in the series, just 3.6 million bullion coins (non-proof), compared to over 30 million in 2009 and 20 million in 2008. Cleaning a 1996 turns it into a coin that a collector won't want, and a bullion investor will pay no premium at all for, in fact, offer below spot for.
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2011 American Silver Eagle Sealed In Airtite Case .999 Fine Silver
| US $40.00 End Date: Monday May-21-2012 6:34:48 PDT Buy It Now for only: US $40.00 Buy it now | Add to watch list |
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