With silver 25 percent cheaper, will that enable you to buy more collector coins? Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
I have already started to buy more Eagles since silver went down, but most companies have not yet dropped their prices.
Archie DiFante Ala.
There are too many and they’re still too expensive for me. Perhaps if they were sold at face value with free shipping, I would.
Bill Tuttle Cleveland, Ohio
What I’m probably going to do in the next couple of weeks is purchase a few more ounces of silver in the form of silver Eagles. I was reading an article that stated that silver may drop to $23 or $25 an ounce. Looks like a good time to acquire more silver. Of course nothing beats when I was buying silver for under $10 an ounce.
Bryan New Columbia, Ky.
We’ve been watching the metal markets and saw that silver was 25 percent cheaper. Will that enable me to buy more collector coins? I think so, as long as those selling also saw that silver is 25 percent cheaper and have lowered their prices. There are still a lot of dealers out there who will not remove their blinders when selling, only when they are buying.
Chuck Schroeder St. Petersburg, Fla.
I just returned from a visit to my friendly neighborhood coin dealer after an unsuccessful attempt to buy an uncirculated 2011 silver Eagle. He wanted $6 over spot for a bullion coin.
I used to buy a silver Eagle for $6. Now, I have to pay $6 over spot?
The U.S. Mint needs to start selling Eagles directly to the public. I would even support a minimum order of 100 coins.
Bruce R. Frohman Modesto, Calif.
Yes, but not from the Mint. As of Sept. 30, it hasn’t reduced the price of any of its silver. I think now is the time to buy silver, for I think it will rise again.
Hoyt Thompson Hugo, Okla.
I would like two matte finish silver Eagles and two of the silver Anniversary sets.
The matte Eagles are unavailable while the Mint reprices them. I hope the price comes down, if and when they go back on sale. And I am hoping the Anniversary set is reasonably priced.
This is just what I had hoped silver prices would do.
Donald Cantrell Address withheld
It sounds good to say silver prices are down and that the coins will follow. Unfortunately, the only person whose coins will come down in price is the seller and not the buyer. Many dealers will be taking profit, just like the oil companies.
Gayle L. Guthrie Yukon, Okla.
No, it will not – nothing will. Mint prices are too high and the quality and service are horrible. I will however continue to buy “junk” silver coins like AG to VG or better coins like Morgans, Peace, Barber, Walking Liberty, Franklins, Standing Liberty and Mercury dimes at 4 percent over spot or less. That is where the real value lies. The premiums are reasonable for silver by itself and the chance of a premium increase is there, as the demand for silver grows through 2013 and beyond. Keep them coming.
Name withheld West Palm Beach, Fla.
At 25 percent less, yes, I would purchase more.
Jean Lareau Glastonbury, Conn.