Rounds vs Coins

pmbug

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I own a mix of US Mint products and private mint products. Some private mint products are ubiquitous and can be found at just about any local coin shop. For private mint silver products, I like Silvertowne and Scottsdale silver. I buy my stuff directly from the mints though (not from ebay).
 

ancona

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The only thing you should think about before buying private mint is this, when I needed some fast cash a while back, I took some Apmex bars to my LCS to sell. He gave me about two fifty less than spot, and I was understandably upset. He said that he was not interested in advertising to his customers that they could go on-line and buy silver bars and rounds somewhat cheaper than they could get them at his store. He was and is right about that point. Although with the recent bankruptcy of Bullion Direct, I am now a diehard LCS buy guy now, I was not back then. Remember, those private mint bars and rounds mostly all have an e-mail address and what not stamped on them, so think about that when you buy generic. My guy said he doesn't count stuff like Prospector rounds or the big names such as the big Swiss mints and such, but he does count places like NWT, Apmex and Sunshine.

JMTCW
 

FPrice

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Thanks for the replies. Right now I have only one local store that is "close". Not a bad guy but he seems to be a bit of a conspiracy advocate and shares these views constantly while you are there.

I am looking at Silvertowne but I've over-spent my monthly allotment for PM (it's low right now as I am still learning). Also have a big house improvement project getting ready to start so I am trying to be very careful about what I buy next.
 

11C1P

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The only thing you should think about before buying private mint is this, when I needed some fast cash a while back, I took some Apmex bars to my LCS to sell. He gave me about two fifty less than spot, and I was understandably upset. He said that he was not interested in advertising to his customers that they could go on-line and buy silver bars and rounds somewhat cheaper than they could get them at his store. He was and is right about that point. Although with the recent bankruptcy of Bullion Direct, I am now a diehard LCS buy guy now, I was not back then. Remember, those private mint bars and rounds mostly all have an e-mail address and what not stamped on them, so think about that when you buy generic. My guy said he doesn't count stuff like Prospector rounds or the big names such as the big Swiss mints and such, but he does count places like NWT, Apmex and Sunshine.
JMTCW
That's one problem I've never had with my LCS, they always pay me at least spot for rounds/bars and coins, and for certain coins pay more than spot. In fact I just bought my son a beater car and went a little over what I had the O.K. for and had to sell $200 worth to make the old lady stop bawling. I took mostly in some of my Suns of Liberty bars and he said he'd heard about these but never seen any and didn't bat an eye at paying spot. I told him that I ordered a few out of curiosity (for my initial order that was true) and that I liked being able to buy from a fellow vet. (totally true!) I've also been very lucky selling fractional gold as they have given me well over spot, I guess cause they don't stock them in anything less than 1/2ozt's and the premium on buying them will make it back up for them.
 

DoChenRollingBearing

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...

11C1P

I buy mostly coins, in gold almost all is American (most of that Eagles). Because there are a lot of gold coins out there, I have a small collection of other minted coins, a couple from Peru (Una Libra) and a little bit of Canadian & Australian.

I like fractional gold too, even though it does cost more (per oz basis). Emergency liquidity. I have not had to sell any gold or platinum yet, and with luck will never have to. Our kid (or grandkid(s) if we are lucky) will get it all.
 

FPrice

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Does this mean that you have some rounds? Or bullion?

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11C1P

I buy mostly coins, in gold almost all is American (most of that Eagles). Because there are a lot of gold coins out there, I have a small collection of other minted coins, a couple from Peru (Una Libra) and a little bit of Canadian & Australian.

I like fractional gold too, even though it does cost more (per oz basis). Emergency liquidity. I have not had to sell any gold or platinum yet, and with luck will never have to. Our kid (or grandkid(s) if we are lucky) will get it all.
 

DoChenRollingBearing

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I intend that my gold be held forever, eventually by my descendants, so I do not worry about a 1% - 2% price difference. I try to buy in a way so that I am not forced to sell. But, just in case I have to, I want my PM coins to be recognized, and not have to be tested (at $50 / coin).

Also, I like gold & platinum better than silver. More "value dense". With all but HORRIBLE luck, I have enough silver to spend in most SHTF scenarios I foresee (though my prediction record is terrible). I'll spend the silver if need be, but hold the gold and platinum.
 

FPrice

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...I try to buy in a way so that I am not forced to sell. But, just in case I have to, I want my PM coins to be recognized, and not have to be tested (at $50 / coin).
I think about this also. There seems to be an increasing number of rounds out there from different countries and with different artistic designs. They are generally nice, but concern over whether the person you are dealing with would recognize and accept them is something to consider.

But I think it is prudent to buy some rounds, almost always at a lower price, to help build up your stacks and net worth. I am currently looking at buying some of the 1 oz Buffalo Head nickel silver rounds for this purpose.
 
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