What should I buy?

[carenr85]

Hello guys, tax return season is coming up here in the states, I'm trying to purchase some silver. I don't know what to buy, maybe a mint tube of Libertads or Mapples or Britannias? What do you guys recommend? I wan to keep it under $600 US. Or would it be better to just buy a 1/4 oz of gold?

 

Thank You.

[doogs]

The most gold you can get for $600 would be my recommendation

[danmc82]

Does CGT apply in the US the same as it does for us in the UK?

[Pampfan]

I am assuming that you live in the USA.  That being said - a roll of usa eagles should probably be your first pickup.  They are highly recognized by everyone and can be sold with no problem what so ever.  The key is to find a roll at the cheapest price to you.  If you go to a coin show or local dealer - you should probably be able to pick one up at around $390 to $400. Deals can sometimes be found on ebay from Apmex or other big bullion houses. You will need to do some homework.

If you are able to put another $150 towards your remaining $200 - I would check out an eBay seller texasgse and look at the 2017 1/4 ounce gold eagle auctions.  They have pcgs graded versions in ms70 first strike/first day of issue etc. selling in the 340 range.  If you look for this coin at the big bullion houses it sells for about the same ungraded.  

Good luck and let us all know what you end up doing.

[mr-dead]

I agree with pampfan, if your in the US go for eagles.

[carenr85]

16 hours ago, doogs said:

The most gold you can get for $600 would be my recommendation

Yeah gold is definitely still in the table. what would be better in your opinion a sovereign or 1/4 queen's beast?

@shortstack68 I truly love silver, maybe I'll just go with Libertads, but I don't want to knock gold just yet.

[carenr85]

@danmc82 state tax does apply in certain states, but usually when you buy online they have their locations in non-tax states.

[carenr85]

@Pampfan I live in California, I do have a roll on 2016 eagles, and I was thinking of getting a 2017 one, but I thought maybe to have more diversity. I do agree I'll have to look for the best deal. 

[doogs]

13 hours ago, carenr85 said:

Yeah gold is definitely still in the table. what would be better in your opinion a sovereign or 1/4 queen's beast?

@shortstack68 I truly love silver, maybe I'll just go with Libertads, but I don't want to knock gold just yet.

I would suggest the 1/4 queens beast first, then also a sovereign if funds allow.

[4Nines7Hills]

I don't see buying Britannias Maples, ASE and philharmonics as diversifying, you buy the one closest to your native country as cheap well known bullion that you can buy relatively cheaply and can sell for close to spot

 

if you want to diversify buy semi numismatic silver, kooks pandas which are likely to have a nice premium after a few years or get gold as was stated earlier

 

[carenr85]

@doogs I will look closely and if possible I will go with both.

 

@4Nines7Hills Yeah I think you're right, if I decide to go through silver maybe an additional roll of ASEs would be great as well. At the same time I think I should get a cool gold piece and probably I will just through the gold option, maybe a queen's beast.

 

I'll keep you guys updated. Thank you all for the suggestions.

[doogs]

Another option of buying gold (and you can stretch to two coins) would be the queens beast and the griffin as well. Just a thought

[Pampfan]

One thing you will notice when you look at gold coins in the smaller sizes - 1/10, 1/4, 1/2 ounce sizes - you will always be paying a higher premium over spot than if you are able to buy a 1 ounce coin.  Example - a 1/10 ounce anything will run you around $140 per coin. (So x 10 = $1,400 per ounce) a 1/4 ounce will cost you around $345 a coin. (So x 4 = $1,380 per ounce) a half ounce will cost you around $668 per coin (so x  2 = $1,336 per ounce).  Where a one ounce coin is probably around $1,300.

So just take this into account when you plan out your strategy to maximize your purchasing power and get the most gold for your buck.    

[vand]

Buy what you like the look of. If you think a coin/bar looks great then buy it. If you think it's ugly, avoid it. Having a liking for what you buy is far more important the fewer ounces you own, as it will reinforce the stacking mentality.

Chances are you will want a bit of diversity as your acquire more ounces, anyway.

[mikeyjon]

If you want some bang for your buck have a look at purchasing silver rounds.scottsdale,opm and sunshine mint are just a few choices you have with low premiums and quality products.