Now that you’ve done your research (link to our article on everything Silver Eagles) you’re feeling confident and prepared to make a purchase. But you’ve come to yet another crossroads. What is the best way to buy American Silver Eagles and know that you’re getting the best deal? Don’t worry, I have you covered. I spent several hours compiling the safest and cheapest methods for purchasing American Silver Eagles.
- 1. Use introductory offers from reputable online bullion dealers.
- 2. Buy in Bulk if possible
- 3. Buy ‘culled’ American Silver Eagles.
- 4. Use eBay and other auction sites.
- 5. Look for promo codes before checking out.
- 6. Most online retailers offer free shipping when spending around $100 minimum.
- 7. Barter and trade unused items that still have value.
- 8. Browse yard sales and selling apps
Use first time offers
Several reputable dealers like JM Bullion offer special deals for first time buyers. These introductory offers are usually limited to one per household, but offer amazing value. A good example: JM Bullion’s introductory offer is usually 10 Buffalo Rounds for $150 dollars with free shipping.
Buy in bulk
By buying in bulk you can shave up too a few dollars off of the price of each Silver Eagle. Simply put, the larger the order, the larger the discount. In 2020 demand for silver is so high that most online outlets have completely sold out of bulk Silver Eagle products. But once the current boom subsides this option should be available again.
Buy culled American Eagles
Buying ‘culled’ Silver Eagles can be a good way to get them for closer to spot price than you would otheriwse. These Eagles have some imperfections that make them less desirable for collectors. Imperfections range from a fingerprint that has aged poorly to coins that are scratched or have been dropped. These coins are less desirable to harcore collectors but make perfect value options for silver stackers. There are several reputable places to purchase ‘culled’ American Eagles online.
Ebay and other auction sites
By using auction sites like eBay you can get a better deal as long as you dont get too set on any one particular Silver Eagle. By following mutiple auctions closely you can ensure that you are spending the least possible on each piece. Make sure to check the reputation of the seller before making a bid, trust is the key here.
Another useful tool on eBay is the filter tool. When searching for items apply the ‘completed’ and ‘sold’ listings filter. This should give you a really good idea of what people are paying for American Silver Eagle’s over the past 30 days.
This process can be time consuming and sometimes bit stressfull but will save you some money while building your collection.
Look for Promo Codes
Once you’ve placed a precious metals order online, most reputable dealers will later email you special and promotional offers. These offers vary but taking advantage of them can save you hundreds of dollars over time.
You can also search online for promo codes. Before checking out with a metals vendor do a quick google search, sometimes the company has active promotions that aren’t displayed on the pages you’ve happened to visit. A perfect example of this: I was recently checking out online and spending 100 dollars but found a 15 dollar off promotion offer by searching google, before checking out. Sometimes these offers are old or expired but searching for a few minutes usually provides positive results.
Most of the major bullion dealers offer free shipping, but with a catch. Generally if you spend around $100 (this varies by company) the order will be shipped out free of charge. A good way to ensure you’re able to take advantage of these offers is by placing larger orders, less frequently as opposed to smaller orders more frequently. The free shipping price threshold is listed below for several of the most trusted bullion sources.
- SD Bullion– Free shipping on orders over $99.
- APMEX– Free shipping on orders over $99.
- JM Bullion- Free shipping on orders over $99.
- Provident Metals– Free shipping on orders over $99.
Believe it or not there are oppoutinities to barter for American Silver Eagles. Places like Pawn Shops and Flea Markets provide the perfect oppoutinity to swap items you no longer use for bullion. For example, a power saw you bought when building your kids playhouse and you haven’t touched it since. Sort through your garage, spare bedroom or storage unit to find items that have value, but you simply don’t use anymore.
Yard sales and selling apps
Buying silver from a complete stranger is not a tactic that I would recommend to just anyone. Once your a seasoned bullion buyer and know the distinct characteristics of the products you purchase regularly, then you might want to spread your wings and see what you can find on your own.
This option isn’t for everyone. But, by thinking outside the box sometimes you can find the best deals. Browse neighborhood yard sales on nice days it’s good exercise, and a chance to get to know if any of your neighbors are collecting or selling silver.
Use apps like Letgo to see if anyone locally is listing American Silver Eagles for sale. Often times you can get them for closer to spot price when dealing with someone in your area. You can also find people who might have bought the bullion as an investment but fell on hard times and is trying to sell it fast at a cheaper price.
A few important things to keep in mind when buying bullion from a person is:
- Always meet in a public place.
- Always inspect the silver before purchasing.
- Unless your an expert do not buy products your unfamiliar with.
- It’s best to only buy products that are easily recognizable such as American Silver Eagles.
- Always file the proper paperwork when purchasing precious metals in large quantities.
Now you know
In the end there are several methods for buying American Silver Eagles at cheap prices. The choice is yours to make, some of the above options (like eBay and bartering) are time consuming, but offer a chance of achieving value that you wouldn’t find otheriwse. Other options like reputable dealers do provide value but the premiums are higher.
Hopefully this article helped you learn about safely purchasing American Silver Eagles at cheap prices. Enjoying our content? Check out another article- How to properly label a 2×2 coin holder.