From an investing point of view, it defies coarse sense to buy coins at a cost that could be unmanageable to recoup should you late wish to sell. But that ’ s precisely what ’ s happening to many investors. See why in this article. And find out how to avoid making the lapp mistake with your money .
Outrageous Markups on the Silver Polar Bear (Bullion) Coin
The diametric behave coins are striking—as are all wildlife coins produced by the Royal Canadian Mint. These 2013 coins are legal tender and contain 1.5 ounces of .9999 fine ash grey. You may find silver polar bear coins advertised on commercial dealers ’ sites. What ’ second startling is that some dealers mark up the coin more than 160 % over the silver medal spot price .
Dealer Markups on the 1.5-Oz 2013 Canadian Silver Polar Bear Coin
|Date||Dealer Price||Silver Spot Price||$ Over Spot Price of Silver||% Markup|
|August 12, 2020||$83.14||$25.92/oz||$57.22||105 %|
|August 12, 2020||$69.49||$25.92/oz||$43.57||91 %|
|June 19, 2017||$164||$16.50/oz||$147.50||163 %|
This fact is enough to rule out these coins as investments. Of path, the rarity of a coin can make it deserving far more than the price of its bullion. But this is true of numismatic coins. It doesn ’ triiodothyronine hold well in the world of bullion coins. The 1.5- ounce silver polar bear is a bullion coin. It is worth only its weight in silver. You ’ ll see advertising that certain dealers have exclusive rights to sell the mint. This purported exclusivity and the coin’s limited mintage (2013 only) is supposed to justify the markup. It does not. This is a sales strategy, not consumer support. It ’ south authoritative to note, however, that individual dealers are misleading consumers, not the Royal Canadian Mint .
2013 1.5-Oz Silver Polar Bear Coin Design
This silver medal diametric bear coin weighs in at 1.5 ounces. Its silver capacity is .9999. The coin was originally minted by the Royal Canadian Mint ( RCM ) in 2013. The coin ’ mho rearward features a sleek, attractive profile of a polar bear in a walk stance, testing the arctic internal-combustion engine. On the clear of the coin, lettering reads : “ CANADA. ” Underneath the arctic behave double are the words “ FINE SILVER 1½ OZ ARGENT PUR. ” On the obverse is the classical picture of Queen Elizabeth II, designed by canadian artist Susanna Blunt. The queen ’ south identify is inscribed above her profile and underneath is the denomination : “ 8 DOLLARS, ” followed by the year of mint, “ 2013. ” It is typically marketed as suitable and attractive for first-time entrants into the cute metals IRA stadium, equally well as for long-run silver bullion investors. You might besides come across reviews under the advertising that claim these coins will go up in price every year, which may make the viewer buy right away, or be left with a concern of missing out .
Canadian Silver Polar Bears Are IRA Eligible Coins. But…
broadly, the coin experts at Scottsdale Bullion & Coin advise our clientele on buying bullion coins for a autonomous IRA account. What about in this case ? As a threshold matter, Individual Retirement Accounts ( IRAs ) do permit these silver coins as IRA eligible investments. Under the Taxpayer Relief Act of 1997…
- Coins produced by national mints qualify for holding in an IRA.
- The minimum fine silver content for IRA eligibility is .999%.
The arctic hold coins meet these criteria for permissible investments in a precious metals IRA. The 1.5-oz silver diametric bear coin may be allowable under the tax codes, and it may be described as a bullion mint, but it does not fit our criteria for prudent, IRA-focused asset protection. And the reason is straightforward : the polar bear coin’s IRA value when traded in bullion is nowhere near the premium prices paid to brokers.
Invest in Silver—But Invest Wisely
The video is clear for silver as an investment. In 2019 alone, silver ’ south price went up by 17 %. Since then, we have witnessed a escape to safe havens gold and silver due to the economic and fiscal uncertainty the pandemic has brought. As of August 12, 2020, gold was up 27.65 % for the year at $ 1,916.39 an ounce and silver was astir 44.83 % at $ 25.42 per snow leopard. Of especial interest to anyone considering investing in silver right now are the mounting expert predictions that silver medal will outperform gold within the future 3 years. autonomous IRAs that permit investments in fine silver and other cherished metals support true diversification, and they besides anticipate the opportunities when the flaws and vulnerabilities of the securities marketplace are in evidence. yet all the powerful, unique advantages of investments in silver are undercut when the buyer purchases bullion that cannot be returned to the dealer or resold on the market at a price anywhere near what the buyer paid.
The buttocks agate line ? Invest in silver medal. But invest in silver medal wisely .
A Need for Consumer Guidance in the World of Coin Investing
Buyers of RCM wildlife coins might not be aware of the discrepancies between what they are being asked to pay by “ exclusive ” brokers, and what they could late sell their coins for. To add to the trouble, brokers’ customers might find it difficult to learn more about what they’re viewing because the brokers offering this and similar coins for sale are often the only readily available source of knowledge. To be pass, the Royal Canadian Mint is not the source of these markups. Yet its web site does not offer searchable investment advisories or steering that people buying these coins from early ( self-described exclusive ) vendors actually need to have. Simply, know this : the 1.5-ounce silver polar bear coin is worth no more than the respect of the bullion it ’ sulfur made of. This is besides the casing with the 2-oz and 10-oz ash grey killer whale coins and a host of other canadian ash grey and aureate bullion wildlife coins .
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Purchased Silver Polar Bear Coins? Get Help Now
If you have purchased silver arctic bear bullion coins from a broker at high prices and need help mitigating your losses, our valued metals experts may be able to assist you. Located in Scottsdale, Arizona, and available to work with clients anywhere in the United States, we advise investors on the best options for investing in silver. We besides manage IRAs for valued metals. Scottsdale Bullion & Coin ’ s advisors know that the best silver investing depends on the person client ’ s needs, goals and timeline. Contact us to discuss any questions you might have. We are here to offer our cognition and support. Call 888-812-9892 .
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