What is this I hear about a silver "surplus"?
This is a bit of a misnomer. There is no such thing as a "surplus" of silver. Nobody is storing unwanted or excessive silver on pallets outside of a warehouse due to lack of space. The word "surplus" is used only in an accounting sense, and has to do with investment demand. Give us a call, we'd be happy to go through the particulars with you!
Won't increased silver mining make silver worth less?
In theory, yes. In practice, no. Annual increased silver mining is offset by old mines shutting down. Also, newly increased investment demand for silver is far higher than total new silver mine production.
Should I purchase silver instead of gold?
About 160% of gold mined each year is purchased by investors. That extra 60% is from central bank selling and leasing.
In contrast, about 7% of silver mined each year is purchased by investors. The rest is consumed and lost by industry.
Silver is a much smaller market, silver is more rare, harder to buy, and harder to find. There are plusses and minuses to each and we recommend a varied portfolio. But if "smart money" is spent buying gold, then the smartest money is buying silver.
How do I begin to learn more about investing?
Start thinking about investing in many areas of your life! It all compounds. But if you're looking specifically into Precious Metals, give us a call. We're happy to chat about all of the options, pros and cons, and put together a great strategy for you.
Should I wait for silver prices to dip, before I buy?
People have been asking us if they should wait for a dip since silver was $5 per ounce. If you don't have any silver, it's a great option to add value to your portfolio, regardless of price. The longer you wait, the more you will pay, typically. Give us a call and we'll talk through your options on buying silver today!
What is the historic value of silver and gold?
This is a broad question with a broad answer.
In the bible you could hire a priest (like a lawyer) all year, for food, shelter, one suit, and ten shekels of silver, which is about 2.5 ounces of silver.
In 1430's in Florence a man could live very comfortably on 16 ounces of gold per year, bank clerks earned 2-5 ounces per year, and a maidservant earned just over 1 ounce of gold per year. A Multi million dollar mansion would sell for just over 100 ounces of gold.
The 600 year silver chart is a popular chart, but it needs to be updated.
In the U.S. in the early 1900's a day's wage varied from about a silver dollar to a silver quarter, to a silver dime, depending on the work.
How and why will the world ever go back to using silver and gold as money, and what will it be worth?
Paper eventually fails and returns to its intrinsic value, which is about the value of used newspaper. No matter how many zeros are printed on the paper it does not increase the value.
As silver and gold continue to rise in price, they will attract ever more investment, especially as more and more people understand its ability to value, and as more and more people want to preserve savings, and grow their wealth.
How will silver or stocks be valued if there is no paper money?
When silver and gold are money, everything is valued in terms of silver and gold.
What are First Spouse Gold Coins?
The United States Mint issues one-half ounce $10 gold coins to honor the nation’s first spouses by featuring their images in the order they served as First Lady. This series of First Spouse Gold Coins were issued on the same schedule as the Presidential $1 Coins that honored the presidents.
On July 29th, 2007, The US Mint issued four First Spouse Coins featuring portraits of the first four spouses of the presidents – Martha Washington, Abigail Adams, Thomas Jefferson's Liberty, and Dolley Madison. This series of gold coins was designed to acknowledge the unique work, life, and contribution of the spouses of the presidents to the welfare of their nation.
What are the benefits of investing in gold coins?
- • Protect your portfolio and wealth even if an economic crisis occurs in China, US, or Europe. You'd be better off with gold than with paper money or other paper assets.
- • Protect yourself should a banking crisis occur. For example, if one of your banks collapses in the future.
- • Protect your savings against the fluctuating currency devaluations.
There are several reasons why you should invest in gold coins, but we'll share you the most important ones:
What are the risks involved?
- • Gold's price often fluctuates and can become "expensive" in relation to the US dollar. A trusted advisor like GMRgold can help you avoid the pitfalls of this natural fluctuation.
- • Gold coins do NOT offer you interests or dividends as your savings accounts, or money market accounts, or bonds or stocks do.
- • You'll need to consider how to store gold in a safe place and storing your gold coins in your home is equivalent to keeping your money on the table: it's not safe!
Although there are many advantages of investing in gold coins, there are also risks involved and if you're a new investor, you should be aware of these risks beforehand:
What is the difference between MS70 and PF70 gold coins?
Mint State (MS 70) gold coins are produced significantly in higher volumes, are not in circulation, and usually issued for coin collectors, meaning they're carefully produced and handled as compared against "ordinary coins" that are mass produced for general circulation.
Proof (PF70) gold coins are produced in higher standards of finish, distinguished by its sharpness of detail with a mirror-like, brilliant surface. (The flat background of the coin has a highly polished surface finish while the raised parts have a matt finish, giving a higher level of contrast between the two.)
How / Where to 'safely' buy gold coins?
You can 'safely' buy gold coins from several places, including visiting a local gold coin store, online stores such as Amazon or eBay, or from our online store.
What do you buy and sell?
We are committed to transparency in our fee structure. There are no hidden fees when you sell to GMRgold.
How should I clean my coins?
Don't! It's not necessary. Leave them in their natural state as gold doesn’t tarnish. Cleaning or polishing coins, even with great care, will often take away their original Mint value.
Is sales tax collected on these coins, bullion, or currency?
No. There is no sales tax collected on coins or bullion in the state of Texas. But sales tax will be collected on currency and supplies as required by the state.
How will you pay me if I wanted to sell you coins or bullion?
We will either pay you by cash or check, whichever method you feel comfortable with, and payment will be made instantly. And if you’re under the age of 18, we won’t be able to buy anything from you. The local and state law of Texas doesn't allow this. If we decide to purchase from you, however, you'll need to submit a valid photo ID, phone number, and your thumbprint for purchases we make.
What's the best type of gold bullion I should buy?
In the US, gold Eagle from the US Mint is by far the most popular bullion coin, and its resale value is better than any other bullion coin traded in the American market. It doesn't really matter which form of gold bullion you buy, but for the long run, we highly suggest you go for the gold Eagle.
Which gold bullion or coin is best for me?
On this website, we offer major types of bullion coins. We have also added detailed descriptions about each one. Since every gold buyer is unique and has a different taste, the type of gold you'll buy depends on what appeals to you the most. This doesn't mean that you are not allowed to put all your eggs in different baskets – you may choose to own as many different bullion coins as you want to.
However, if you do not have a strong preference, we highly suggest you to buy US gold Eagle coins as they're widely accepted and have a strong resale value.
Shouldn't I buy 'pure' gold over 'impure' gold?
A lot of people want to buy 'pure' gold (.9999 or finer). But, you need to understand that coins which have 90% of 91.7% of pure gold were actually made from the full weight of the gold. In order to toughen the soft gold for better handling than 'pure' gold, it is alloyed with copper and silver. Whether you buy pure gold or alloyed (impure) gold, it's your choice. Over the past thousands of years, gold coins have contained alloy to make them harder.
Is gold easy to sell?
Of course, they are. Gold sells easily anywhere in the world, 24/7. In fact, it's a billion dollar industry, where gold is traded in a 24-hour cycle, from London to Paris to New York to San Francisco to Australia to Japan to India to Turkey, and finally, back to London.
Visit our online store to see some of the finest and best-selling gold coins.
If the price of the gold coin rises, where can I sell it?
Anywhere in the world. But GMRgold runs a business of buying and selling gold bullion (gold coins and gold bars), and we hope that you'll contact us so that we can bid on your gold should you ever decide to sell in the future.
Why should I purchase from you?
- • We have been in the coin, bullion, and scrap business for many years, serving newbie and advanced collectors.
- • We maintain one of the most diverse and largest inventories of collective coins available around the world.
- • Our prices are extremely competitive.
- • We stock a wide range of gold and silver bullion, offering a narrow buy and sell spread. The delivery of the item is on-time and immediate.
- • We treat our clients with honesty and fairness. Check out our Trustpilot reviews to know what our customers are saying about us, our products, and our services.
Here are few reasons why you need to choose GMRgold to buy or sell gold and silver coins: