In contrast to the National Debt, many believe this is the best time to buy Precious Metals in the past 16 years.
One Warning: Think twice on what product to buy and who you buy it from.
Read on …
From time to time, potential clients ask why I seem to be lukewarm on American Silver Eagles minted 1986-current. On the surface, they appear to be a smart way to buy Silver and they are in fact the world’s most popular Bullion coin.
Back in 2009, when Silver was in the $9-13 range, I used to buy Silver Eagles for myself. In fact, I had cases of them. Even though Silver Eagles had certain pitfalls (potential lack of privacy, for example), they seemed like a safe bet.
In early 2011, Silver peaked at slightly over $49 an ounce. Silver Eagle owners were ecstatic and I felt pretty good about my purchases as well.
Then, things got ugly. Over the next 12 months, Silver’s spot price on the stock market (traded by George Soros and company) dropped in value by half. Silver Eagles which are tightly tied in value to spot price, dropped quickly.
Then things got even worse in 2013. The Chinese starting duplicating Silver Eagles and selling them online at Alibaba.com for $2.00 each. Suddenly it required extensive testing to seperate the good product from bad.
Resale of older Silver Eagles dropped off the map. And privacy, forget that, as the Chinese issued product made selling those older Silver Eagles difficult without filling out paperwork and jumping through hoops.
Easy Rule: with Bullion, older is not always better.
Our advice … Think twice about what product is right for you. Silver Morgans have all but doubled vs. spot over the past few years, while Silver Eagles have dropped dramatically.
Add in the authenticity issues with Bullion and the future for 1964 and earlier Silver is becoming stronger by the day.
For more information, contact Gary Cubeta at 1-888-950-4653.