Is this a good investment, Laxmi .999 Silver Coin – 50 gms?
August 18, 2010 by
Filed under Silver Investment FAQ
Hey all, I am trying to get into the whole world of coin investing, and I noticed that these Laxmi .999 Silver coins are worth $60 on a certain website, and I was wondering if it would be a good investment to buy about 5-7 of them, and hang on to them for a while? If not, could you please point me in the direction of coins that are expected to become rare in the future? And please, I would like an either professional collector or someone who has had experience with this to answer. Thanks!
Here is the link to the coin: http://www.ishopindian.com/laxmi-999-silver-coin-50-gms-pr-24204.html
No, this is a very poor investment. 50 grams of silver are worth less than $30 at the current market price of about $17.90 per ounce. So the price of silver would have to more than double in order for you to break even if you purchase at $60 per coin. Nor should you expect your coins to be worth anything above spot metal based on some hoped-for rareness. If you want to buy a coin that fetches a premium above the metal content, you should buy a coin that is no longer being minted and whose rareness is already known. Bullion coins rarely, if ever, fetch a premium based on scarcity. Try collecting U.S. Morgan or Peace silver dollars instead.
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NO!
That is HORRIBLE!
Much better would be 1 ounce American Silver Eagles or Englehard or Johnson-Matthey bars.
You can research the prices at http://NationalBullion.com