Monday, December 6, 2010

Should You Buy the 5oz. 2010 America The Beautiful Coins?

Should you buy the 5 oz. 2010 America the Beautiful bullion coins?

  • The answer is YES if you're looking for a quick flip and profit. Current premiums at APMEX are running $130 per coin over silver melt value. Even at this level, however, APMEX blew through 1000 sets in one day and is currently sold out. I've seen sets on ebay now with bidders at $200 and higher per coin above the silver melt price as I write this blog.
  • The answer is twofold if you plan to hold onto these coins for the long haul. NO, and HELL NO! Look, these coins are still bullion coins, not numismatic collector's items. You can probably make a quick buck on the press these things are generating now, but it's unlikely that a set of bullion coins, no matter how scarce, will hold onto much less significantly grow the already skyhigh premium. Most likely much of the current panic premium will evaporate in 2011 when the new batch of coins are minted.
The US Mint will make 33,000 sets of these bullion coins in 2010. If you must buy, then unload them ASAP (preferably even before you take delivery) and take your profit while the getting is good! For the long term, stick with the 1 oz. American Silver Eagles with their $2.50 premium per coin.

If you really must have a set for yourself, my advice is to wait until next year when the buzz dies down along with the current hyper-premium. I'm sure they'll be some sellers looking to unload some sets to cut their losses.

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies, APMEX Gold and Silver and Silver American Eagles.



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