I am new to precious metal investing and was wondering what the pros and cons are with regards to coins vs. bars. It seem you have to pay up quite a bit for coins. I am not a coin collector. I am just looking to diversify my savings.
It really depends what you are looking to do, and what you think about govt. bullion vs. private mint bars and rounds. Govt. bullion (usually only in coin form, but there are a few exceptions) will carry more of a premium vs. private mint rounds or bars. Govt. bullion is often considered "safer" or easier to sell. I have never had a problem selling silver in any form, including junk silver. Of course if you are getting it believing it may be the main form of currency in the not too distant future, then some believe that only govt. bullion and/or junk silver will be the only recognizable form of silver to most people. I think that's hogwash as most people aren't aware of junk silver, or what an ASE, or CSM is either. For me, I break up my stack by weight into 1/3's. 1/3 is in govt. bullion, 1/3 into private mint bars and rounds, and the last 1/3 into junk silver which I also break down into 1/3 each of dimes, 1/4's and halves.
If it just an investment tool, and you don't mind the govt. knowing what you have they can be used as part of a tax free IRA. Only certain types of silver qualifies for it though. I know it has to be at least 95% pure, so junk silver and sterling silver are out. Most people use ASE's and such, I'm not sure if any private mint silver is eligible. It's not hard to find info if you want to go that route.
Ask yourself what you recognize as Ag and Au money.
Think of who you may sell to, and their recognition.
Do not rely upon a single form, but do not cut corners of value recognition.
Pay a little more now when you have a choice, is far better than not having either in the future.
Start with smaller denomination unless you have excess currency.
Enjoy gaining ownership, it is YOURS.