You can purchase American Silver Eagles online or at a local gold/silver store.
First, let’s explore several of the online options to consider (see links below). It is your responsibility to do your due diligence before you make a purchase. (I have no financial or personal relationship with any of the companies listed.)
Most American Silver Eagles will be selling $1.50 to $3.00 over the spot price for one ounce of silver (subject to change).
When you click on Monex below, you will see the spot price for one ounce of silver moving across the top of the screen.
After you determine the price on Monex for an American Silver Eagle – check out the other sites.
You can also do an internet search for “Buy American Silver Eagles” and more companies will come up.
After you check out the various websites, you should be able to quickly determine who is offering the best price.
I recommend you visit each website and call two (or three) companies offering the best price. When you call, ask the following questions:
I am considering purchasing (number) American Silver Eagles. What is your cost per coin? (The more you are buying the lower the per coin price will become.)
With that said, determine ahead of time how many coins you plan to purchase. And be on guard – they will try to upgrade your purchase to more than you intended.
The price will vary by the minute – depending on spot silver price. Your price will be locked in at the time you make the purchase.
How much do you charge to ship the coins?
Shipping factors into your total cost per coin. One company might have a higher sales price, but with free shipping, while another might have an initial lower price per coin, but will charge $_____ for shipping. So always calculate your per unit price. (Total cost / # coins = per coin price).
How long will it take for my coins to be delivered?
How will my coins be delivered and will they be insured?
Once they have you on the phone, expect some pressure to place an order right now. Unless you are prepared to order say, “I am gathering information and will give you a call if I decide to place an order.”
Also, be aware that you might be put on a future call list, so if you don’t want calls, be sure to tell them “no future sales calls.”
You can call a local gold and silver shop in your city and ask the same questions. I have found prices are usually a litter higher than online, but there is no delivery charge, no insurance charge, and you can take possession of your coins immediately.
I gave details in my book PREPARE as to why you want American Silver Eagles vs Morgan and Peace silver dollars (1878-1935). See page 106 for more information.
When you purchase American Silver Eagles you don’t need to be concerned with purchasing any specific mint dates. Most people are not buying the coin for numismatic (coin collector) value. But note, if they are selling by mint date – the older coins (1986) will usually cost more than the newer coins (2014).
Since we don’t know the direction of silver prices (up or down) in the next few months – you have two options:
1. Buy all in one purchase – and it’s done.
2. Buy 1/4 of your silver every 3 months. That way if the price is going down, your average cost will be less. But, if it is going up, your average cost per coin will be higher.
Remember – this is a long-term investment. Don’t watch the price of silver every day. Silver was as low as $9 per ounce in 2006 and was $49 per ounce in 2011. So, as you can tell silver can go significantly higher or lower.
Before you make your first call, make up a chart on one piece of paper to summarize all the information.
Write across the top of page:
Company – # Coins – $ per coin – Ship cost – Ship Method – Delivery Time – Insured?
Write along the left side of the page:
the name of each company.
Use this summary chart for your calls to on-line companies and local companies.
Gather all your facts before you make a purchase.
Let me know how it goes.