Now is the time to buy silver—not later—as the price is set to leap dramatically in the near distant future. The metal is expected to jump as much as three times its value within the next couple of years. Therefore, you don’t want too much of your money tied up in paper-backed investments, such as stocks, bonds or CDs, given that the price of silver is going to explode. So, which is the best silver investment to choose?
Limited Funds to Invest – Consider Silver Coins as an Investment
The American Eagle Coin
Probably, the number one place to direct your money is to any mint or coin dealer that features the American Eagle. The silver coin is the only bullion coin in the world that is warranted by the federal government for its content, purity, and weight. Because of this endorsement, many astute silver investors prefer the silver Eagle to minted rounds without the guarantee.
American Silver Eagles are as easy to buy as they are to sell. So, not only are they very liquid, they are bound to make you some money if you hold onto them. A new, uncirculated silver Eagle coin usually sells for about $2.00 to $2.25 over the current spot price. Make sure to buy mint and uncirculated as the older or used silver Eagles generally trade for about a dollar over the market price.
You want a coin that can be easily recognized too, which is also why the Eagle is a popular silver investment choice. Because of its guarantee, recognizability, and limited quantity, the coin carries a numismatic worth that also appreciates over time. For example, the 1986 Silver Eagle (the oldest coin of the series) can get as much as $7 over spot in today’s marketplace.
The Canadian Maple Leaf
Another popular silver investment is the Canadian Maple Leaf, which, like the American Eagle, is easily recognized. Part of the coin’s appeal is in its aesthetics – the engraving of the maple leaf is a beautifully crafted design. Maple leafs also meet the standard of purity required for trading, and are minted in .9999 fine silver.
Since the time it was first issued in 1988, investors have enthusiastically collected the coin. In fact, during the first mint year, more than one million units were made. Compare that to the coin’s 1992 mintage, which produced just over 340,000 of the coins.
One Ounce APMEX Rounds
Yet another popular silver investment is the APMEX round, which gives you the most silver in a coin-type product. Actually, the rounds, which are minted privately, cannot be called coins as they are not used as legal tender. Made of .999 fine silver, APMEX rounds are typically priced just under a dollar over the spot price.
By the way, if you are wondering what APMEX means, it’s the acronym for the American Precious Metal Exchange. Besides the silver rounds, the exchange also sells Maple Leafs and American Eagles as well as such metals as platinum, palladium, and gold
One-half Ounce APMEX Rounds
Besides one ounce silver rounds, APMEX also features rounds in the half ounce size. More liquid than the one-ounce rounds, the one-half rounds, because of this fact, are also more valuable. Therefore, the ½-ounce size is usually about $2.00 over the silver spot price, which, in turn, is about $4 over the spot premium per ounce. Add to the diversification to your silver portfolio by the inclusion of some of these rounds.