The Silver Eagle Coin Is A Must Have For Any Coin Collection
If you are looking to diversify your investment portfolio in precious metals but have limited funds, buying the Silver Eagle can be a conveniently priced coin that can jump-start your collection. The Silver Eagle is far less expensive than the Golden Eagle yet still establishes a steady and reliable precious metal value for your portfolio. Minted by the United States Government, the Silver Eagle is made from 99% pure bullion silver. As such, it is guaranteed by the U.S. Treasury and its intrinsic value is linked to the spot market price of the metal.
How To Buy Silver Eagle Coins
When setting up your strategy to begin purchasing Silver Eagles, there are a few tips that can come into play. You can either purchase through the U.S. Mint, which only sells the proof version of the Silver Eagle or you can purchase from one of the following sources.
- Coin dealers - Brokerage houses - Wholesalers - Participating banks
Unlike the American Gold Eagle, the Silver Eagle is only minted in the 1 ounce bullion size. Since it is not a commemorative or numismatic coin having limited mintage, the Silver Eagle can be well distributed among the above outlets, making them easy to procure.
When undertaking your initial purchase, first determine if you want a proof version or uncirculated version of the Silver Eagle. If you like the proof version better, I would suggest going directly to the U.S. Mint for purchase. While it is more expensive to buy because it is priced above the spot price for silver, they are bright sheen and packaged nicely.
If interested in the uncirculated versions, first check the spot price for an ounce of silver. This will determine the intrinsic value of the 1 ounce coin prior to the dealer/collector's premium being added on. This then allows you to determine the fair market value of the Silver Eagle.
Storing Silver Eagle Coins
While several options exist for coin storage, the best way to store Golden or Silver Eagle coins is in an airtight holder. Similar to 2 X 2 hard plastic holders, the airtight holder is round, just like the coin, as opposed to square. Essentially the airtight holder has two plastic pieces that the coin rests between which are subsequently snapped together. In addition, they come with a rubber ring that fits snugly around the coin for added protection.
As your coin collection grows, you may want to invest in a coin slab. Though rectangular as opposed to round, the coin slab is made of thick plastic that snaps together, but allows space on which to write or label. The slab system is often used by professional grading services and offers great protection for your coins.
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