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American Silver Eagles and 1 Oz Silver: Is There a Better Alternative?

If you’ve talked to a few friends that like to invest in silver, then you’ve probably heard them talking about everything from 1 oz silver rounds to bars to various coins. In particular, you’ve probably heard a lot about American Silver Eagle coins.

The reason American Silver Eagle coins are so popular is because they are the official silver bullion coin of the United States. Each year, millions of American Silver Eagle coins are minted.  In recent years, the US has minted about 34 million coins per year. Popular? You bet.  And also plenty of supply for those who want them.

Now, because there’s an abundance of American Silver Eagle coins, their prices tend to move with the spot price of silver.  When the price of silver goes up, the American Silver Eagle coins go right up along with it.  But of course the flip side is true too: when the price of silver drops, the price of the American Silver Eagle coins drop, too.

This is actually pretty similar to the way 1 oz silver rounds or bars work. Investors tend to get the rounds, bars or even the American Silver Eagle Coins for these reasons:

  •  They’re easy to procure. Simply walk into any precious metals retailer, and chances are you’ll be able to put in order for 1 oz silver or American Silver Eagle coins.
  • They’re easy to store.  Because coins and 1 oz silver bars or rounds are so small, it’s easy to keep them at home in a safe or in some other trusted storage facility.
  • They’re easily portable. If you’re traveling, or if you’re moving, it’s easy to take your coins or 1 oz silver bars or rounds with you.
  • They’re easy to liquidate.  If you need to convert your investments into cash, you can do it virtually worldwide with  American Silver Eagle coins or 1 oz silver.

However, there are downsides to investing in American Silver Eagle coins or 1 oz silver rounds or bars. I’ve already mentioned how the prices of these products move with the spot price of silver. But here’s another problem: these items must be in excellent condition in order to garner top price. So if you intend to sell your American Silver Eagle coins of 1 oz silver to any dealer or retailer – including the precious metals dealer who originally sold them to you – they’re likely to lose some of their value if they’re not in mint condition.  For example, if they have scratches, scuffs or they’re tarnished, then you won’t get the top price for them.

So let’s suppose you’re looking for some of the advantages of 1 oz silver or American Silver Eagles, but you need something with more pricing stability. In that case, you might consider Morgan Silver Dollars. They tend to outperform the Silver Eagles, they’re a great crossover coin and there’s buyback demand (because dealers always need them to restock their inventories).

Bottom line? If you want to start enjoying more sleep at night, then you should start considering putting some of your investment cash into Morgan Silver Dollars.

 

 

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