Silver Premiums are Falling! Is Now the Time to Buy American Silver Eagle Coins?

American Silver Eagle premiums have been Sky High for several years but with premiums coming down on Silver is now the time to start stacking silver eagles let's look at some Eagles and dive into that coming right up [Music] [Music] thank you [Music] information on where to purchase gold and silver coins rounds or bars that are featured in Florida stacker videos can be found in the video description section of today's video there you will also find many protection and storage options for your growing stack hey and welcome back to Florida stacker on YouTube and now also playing on Rumble do you like American silver eagles I do and another announcement we are now just 199 subscribers away from 20 000 subscribers and so to celebrate that I am going to begin releasing more interactive content on this channel beginning in just 10 days because in 10 days I'm going to attend the fun show the Florida fun show in Orlando Florida which is a very large coin show a massive coin show Okay so coming up soon gonna be recording much of that experience and other experiences we're going to hit up some coin shows try to hit up some coin shops do a lot more interacting with the community and yeah so at this Coin Show I'm hoping to talk to the US Mint NGC PCGS and others so thank you again for subscribing for checking out this video today and let's go ahead and get started with today's content so when I started stacking silver eagles back in 2018 it was pretty common to find them in the ballpark of about two to three dollars over spot at my local coin shop and you know you'd probably pay closer to five dollars over spot if you were buying an American Silver Eagle online in 2018 getting into 2019 when I really got heavy into stacking silver now it was still a bit more expensive to stack silver eagles back then than it was as compared to Maple Leafs and some of the other foreign silver coins as well as 90 silver used to be very low premium compared to even the coins I just mentioned and then you also had silver bars and silver rounds generic ones that came at an even lower premium over spot but silver eagles were still the coin that you really wanted as a coin of your country living here in the United States beautiful coin high demand uh always in demand but the premiums on Silver Eagles began to rise drastically in 2020 and have mostly remained Sky High since then but lately they've started to come down so now I'm taking uh you know a look at Silver Eagle prices and I'm I'm not talking about back to the good old days when it comes to Silver Eagle prices and premiums over spot but just take a look here at hero bullion which is a popular online bullion dealer based out of Texas that is known for having some of the best prices available online I am not affiliated with them but a great great place to shop nothing but good things to say about shopping there if things keep going the way they've been we may see sub 30 random date Silver Eagles at places like hero boy in here uh pretty soon and that is exciting for me it's really exciting actually because I'd love to start stacking silver eagles again in quantities of less than 20 at a time you know like adding one or two maybe three or four silver eagles to my order I haven't been doing that for a long time I've been trying to just you know you buy a tube or maybe buy them and five at a time at a minimum when they're on sale because the premiums have just been so high and especially for new stackers that we're really just getting into silver you really just couldn't stack the weight with the Eagles and they were even you know tax advantageous for me there are tax benefits in my state for buying American silver eagles that's right uh for uh people not living in the United States each state here in the United States has its own state tax laws and in Florida if you were to buy American silver eagles there there was no tax uh if I were to buy let's say a Britannia or a Krugerrand silver krugrans the purchase price had to be over five hundred dollars to avoid the tax anything less than that you had to pay tax so uh you know coin shops had to adjust to that and and they started to really want to deal mostly in full rolls and silver when it came to like britannia's krugerrands and uh Kangaroos and Philharmonic stuff like that because that way they wouldn't have to charge their customers sales tax and the same thing applies online so even with that Advantage however you know silver eagles were just still way way way you know 50 you're talking a 50 premium so it just wasn't what I was you know really focused on and focused more on you know the cheaper stuff the Maple Leaves stuff like that but is it time to start buying them again and my local coin shop is selling them you know brand new 2023 silver eagles for 700 a roll and mixed a bu Eagles for 650 a roll and that's still 32 dollars per Silver Eagle more than that and so honestly no I don't think it's time to start buying them again but I do think it's time to really look at them again and also because of the you know the decreased price of silver right now spot price being a little bit down from where it's been still up when you look at it from a five year and a year perspective but it's a little down from where it was a month or two ago Collectibles are also a little lower in premium right now and uh you know so if you're if you're looking at Silver Eagles and collectibles I mean maybe we're getting close to being able to purchase more of those but my personal opinion is that now no now is not the time to buy silver eagles and with prices on Maples in particular now in the 27 range and even better values in silver that can still be found today as a matter of fact that's why I've got 10 more Vienna philharmonics as these Sovereign silver coins from Austria have been on sale a few times lately at the bigger online dealers and they offer a pretty good value in terms of beauty demand and premium over spot when compared to other Sovereign silver coins the Vienna Philharmonic Lacks Edge and comes in 37 millimeters across so you're going to need a coin tube that can hold 37 millimeter coins without jiggling around too much you know unless you're fine with them jiggling around I'm not but I'm OCD so if you're stacking these to you know save on premiums over some of the other coins then I also just recommend you add one of these tubes these 37 millimeter tubes these are the the tubes that they came from the Austrian mint in those are the ones I recommend and I think they're like two bucks for map Max so if you do make a purchase from map Mex just go ahead and add a tube of the you know empty tube for the philharmonics into your cart pay the two bucks be done with it so if you ever stack these come across them later in your life hey look you got the tube right you don't have to go through the hassle trying to find them on Amazon or locally which can be a pain so why the fill harmonics well I wouldn't say that they're my overall preference for a foreign silver coin when it comes to my own individual experience selling silver coins now a couple of times over the last five years uh namely to my local coin dealers and I do talk to them and I kind of know what they pay and the coin dealers that I you know mostly deal with in this part of the country they really would prefer the modern silver maple leaf if it's not an American Silver Eagle uh so I'm talking 2018 or newer modern silver maple leaves especially in tubes of 25 they have pretty good demand you know behind the full tubes of Silver Eagles or you know loose silver eagles I would say that krugerrands come next followed by the britannium which is really growing in popularity and then after that would be these these Vienna philharmonics from Austria so you should expect to honestly purchase these philharmonics typically at a better price here in the United States over that of some of the other foreign coins right they're usually going to come in cheaper but you should also expect to receive less premium back when you go to sell them in the future as compared to those same options okay so just consider that because there really are two sides to the premium there's the buy side and the sell side and it's good to know both now at a much lower premium over spot I do think it's the best value overall right now when it comes to coins especially when they're on sale because this is the best way to add weight to your silver stack if you want to Stack silver coins there's cheaper ways to do it at even lower premiums by buying 10 ounce silver bars especially generic 10 ounce silver bars and also buying silver rounds and now that we've completed this tube of 2023 philharmonics let's actually get back to buying silver rounds just finished a tube last week of 20 silver rounds and now they're here now we've got these here these philharmonics so let's get back to some silver rounds because I really need to go cheap because I had to sell some silver this year and I'm really trying to recoup that back into my stack so yeah but not today I'm not going to be buying any silver today even with these prices a little down because in less than 10 days I'm going to be going to a coin show and it's really a good idea to have cash when you go to a coin show that's right you're going to want cash for a coin show and so I've got to hunker down and pull some of that cash together over these uh you know this next week plus so I can pick some stuff up at the Florida fun show and show you what I got bring it here to YouTube and Rumble and show you what I got so hey thanks for watching Florida stacker and I hope you enjoyed today's video and I do look forward to seeing you all back again soon for more unboxings reviews and news about precious metals until then thank you for watching our video I hope to subscribe to our YouTube channel

Channel: Florida Stacker

Views: 6,774

Keywords: American Silver Eagle Coin, American Silver Eagles, Silver Eagle Coins, Silver Coins, American Eagle Silver, Stacking Silver, Buying Silver, Selling Silver, Apmex, Florida Stacker, Yankee Stacking, Salivate Metal, Silver Dragons, Silver Stacking, U.S. Mint Coins, American Coins, Buying Coins, Coin Collector, Coin Collecting, Storing Silver, Silver Buyer, 90% Silver, Constitutional Silver

Id: cHMULC0tVgo

Length: 11min 2sec (662 seconds)

Published: Fri Jul 07 2023