So which dealer or company is the safest in terms of buying American Silver Eagles?

WingedLiberty1957

Not the cheapest, but the safest in terms of avoiding fakes? Are there known companies that have a direct pipeline to the Mint? That is they dont buy from wholesalers but from a direct distributor?

mkman123

what are you worried about? Have you seen fakes that are so convincing?

Jinx86

Just buy a sealed box.

derryb

Any of the major dealers. I like dbscoins.

djm

@WingedLiberty1957 said:
Not the cheapest, but the safest in terms of avoiding fakes? Are there known companies that have a direct pipeline to the Mint? That is they dont buy from wholesalers but from a direct distributor?

Yes, you can buy from the Authorized Purchasers. If you want a few coins go with APMEX, a box of 500 Fidelitrade, or many many boxes A-Mark.

OPA

@djm said:

@WingedLiberty1957 said:
Not the cheapest, but the safest in terms of avoiding fakes? Are there known companies that have a direct pipeline to the Mint? That is they dont buy from wholesalers but from a direct distributor?

Yes, you can buy from the Authorized Purchasers. If you want a few coins go with APMEX, a box of 500 Fidelitrade, or many many boxes A-Mark.

You can add: baypreciousmetals (ebay handle) who is an AP to that list, along with: bullion.exchanges (ebay handle, but not an AP) JMBullion and Providentmetals. And you don't have to buy a "monster box" either.

Mission16

But wouldn't the AP's also buy and sell the secondary market? Just because they buy direct from the mint doesn't mean that is the ONLY supply they have.

derryb

@Mission16 said:
But wouldn't the AP's also buy and sell the secondary market? Just because they buy direct from the mint doesn't mean that is the ONLY supply they have.

But their supply from the mint is their cheapest vs. current spot which means you can theoretically get a better price from an AP who is selling their mint purchased inventory.

Jinx86

@derryb said:

@Mission16 said:
But wouldn't the AP's also buy and sell the secondary market? Just because they buy direct from the mint doesn't mean that is the ONLY supply they have.

But their supply from the mint is their cheapest vs. current spot which means you can theoretically get a better price from an AP who is selling their mint purchased inventory.

Not necessarily. My cheapest supply is what comes in the front door.

hchcoin

I have never worried about silver eagles being counterfeit. Has anyone here been burned buying fake bullion SAE's?

BAJJERFAN

@derryb said:

@Mission16 said:
But wouldn't the AP's also buy and sell the secondary market? Just because they buy direct from the mint doesn't mean that is the ONLY supply they have.

But their supply from the mint is their cheapest vs. current spot which means you can theoretically get a better price from an AP who is selling their mint purchased inventory.

They'll pay you less for 2018s than they will from the mint. Also everything they buy that isn't in a mint strapped monster box is likely checked.

Bochiman

Well, yeah, as a dealer, you can do the little rips on them

@Jinx86 said:

@derryb said:

@Mission16 said:
But wouldn't the AP's also buy and sell the secondary market? Just because they buy direct from the mint doesn't mean that is the ONLY supply they have.

But their supply from the mint is their cheapest vs. current spot which means you can theoretically get a better price from an AP who is selling their mint purchased inventory.

Not necessarily. My cheapest supply is what comes in the front door.

Timbuk3

!!!

Mission16

The OP wasn’t asking about cheapest. The concern was exposure to counterfeits.

Jinx86

The thing about it is Ive never had a roll or box of counterfeit ASE's. The only time we see them is individual packaging to try and hide the off weight or off material.

OPA

Any one dealing in counterfeit US produced coins, is asking for trouble. Not so much for foreign produced ones.

WingedLiberty1957

https://www.youtube.com/watch?v=enBD3GsIaJU

ricko

I have never seen counterfeit ASE's from an established dealer.... Now, normally, for proofs, I would get mine from the mint, but bullion, a good dealer will provide authentic silver. Cheers, RickO

Jinx86

How old is this video?

blitzdude

@hchcoin said:
I have never worried about silver eagles being counterfeit. Has anyone here been burned buying fake bullion SAE's?

yep, I got fake 2017s off ebay. Seller posted pictures of real and sent me silver plated brass garbage.

blitzdude

The fakes I received were fairly easy to spot. Lady at one of my LCS showed me some fake silver eagles she recently got burned on that looked a whole lot better than the ones I received off ebay. Hers came from a seller who walked in the front door.

OPA

@blitzdude said:

@hchcoin said:
I have never worried about silver eagles being counterfeit. Has anyone here been burned buying fake bullion SAE's?

yep, I got fake 2017s off ebay. Seller posted pictures of real and sent me silver plated brass garbage.

How about supplying us with the dealers ebay id & auction #

Barndog

APMEX and Modern Coin Mart are my usual sources for ASE and Libertads. I don't do the Proofs though

astrorat

JM Bullion, APMEX, and Modern Coin Mart are all just fine.

jmski52

JM Bullion, APMEX, Modern Coin Mart, Scotsman Coin - no concerns.

Has anyone ever bought directly from Kitco? Are there customs costs that prohibit them from making a competitive quote, because they appear to be lower than Apmex, at least on Maples.

BAJJERFAN

@Bochiman said:
Well, yeah, as a dealer, you can do the little rips on them

@Jinx86 said:

@derryb said:

@Mission16 said:
But wouldn't the AP's also buy and sell the secondary market? Just because they buy direct from the mint doesn't mean that is the ONLY supply they have.

But their supply from the mint is their cheapest vs. current spot which means you can theoretically get a better price from an AP who is selling their mint purchased inventory.

Not necessarily. My cheapest supply is what comes in the front door.

It's pretty unusual to find a dealer who will pay the $2 over that the mint charges. Right now there is one AP paying $1 over on MBs of 2018 or earlier dates.

OPA

APMEX will pay: 1 oz Silver American Eagle BU (Random Year) $17.77
Provident Metals: 1 oz American Silver Eagle | Random Year....BUY BACK PRICE: $17.52
JMbullion: 1 oz American Silver Eagle Coin (Varied Year).............Buyback Price: $17.72

Those are best prices I could find.

BAJJERFAN

@OPA said:
APMEX will pay: 1 oz Silver American Eagle BU (Random Year) $17.77
Provident Metals: 1 oz American Silver Eagle | Random Year....BUY BACK PRICE: $17.52
JMbullion: 1 oz American Silver Eagle Coin (Varied Year).............Buyback Price: $17.72

Those are best prices I could find.

Wasn't THAT long ago that JMBullion wouldn't buy from the public. Maybe they still don't.

blitzdude

@OPA said:

@blitzdude said:

@hchcoin said:
I have never worried about silver eagles being counterfeit. Has anyone here been burned buying fake bullion SAE's?

yep, I got fake 2017s off ebay. Seller posted pictures of real and sent me silver plated brass garbage.

How about supplying us with the dealers ebay id & auction #

It was an individual not a dealer out of Minnesota. He gave me a full refund so don't want to give out ID. He obviously knew they were fake because he shipped different coins than what were pictured and the second I told him they were fake he issued immediate refund without asking any questions. I opened a ebay case prior to contacting the seller and their solution...... return the counterfeits to seller so they could issue refund. Seriously, they didn't care at all that there were counterfeits involved just that seller and I worked out the refund.

BAJJERFAN

@blitzdude said:

@OPA said:

@blitzdude said:

@hchcoin said:
I have never worried about silver eagles being counterfeit. Has anyone here been burned buying fake bullion SAE's?

yep, I got fake 2017s off ebay. Seller posted pictures of real and sent me silver plated brass garbage.

How about supplying us with the dealers ebay id & auction #

It was an individual not a dealer out of Minnesota. He gave me a full refund so don't want to give out ID. He obviously knew they were fake because he shipped different coins than what were pictured and the second I told him they were fake he issued immediate refund without asking any questions. I opened a ebay case prior to contacting the seller and their solution...... return the counterfeits to seller so they could issue refund. Seriously, they didn't care at all that there were counterfeits involved just that seller and I worked out the refund.

Do eBayers really expect eBay to go to the trouble/expense of authenticating everything that gets sold there? What did you expect from them in terms of caring?

blitzdude

@BAJJERFAN said:

Do eBayers really expect eBay to go to the trouble/expense of authenticating everything that gets sold there? What did you expect from them in terms of caring?

I would expect that they or some US authority would care that someone was passing fake US Mint silver eagles as authentic on their site. There was a time in this country when the secret service used to care about such matters. Those times appear long gone. Certainly I didn't expect them to say, well just return the fakes to the seller, let them issue a refund and then he can go sell them off to someone else.

blitzdude

BTW as I mentioned in a previous post, mine were easy to spot. The ones I recently saw at LCS were far more convincing. In addition to obvious details the ones I received all weighed just under 30g. Brass junk. Sorry for poor phone picture quality.

DrBuster

Did the head of that eagle seriously pass somebody’s mustard check??

Bochiman

That's kind of the time TO let others know the ID....if the seller was purposely selling fakes.

@blitzdude said:

@OPA said:

@blitzdude said:

@hchcoin said:
I have never worried about silver eagles being counterfeit. Has anyone here been burned buying fake bullion SAE's?

yep, I got fake 2017s off ebay. Seller posted pictures of real and sent me silver plated brass garbage.

How about supplying us with the dealers ebay id & auction #

It was an individual not a dealer out of Minnesota.

He gave me a full refund so don't want to give out ID. He obviously knew they were fake because he shipped different coins than what were pictured and the second I told him they were fake he issued immediate refund without asking any questions.

I opened a ebay case prior to contacting the seller and their solution...... return the counterfeits to seller so they could issue refund. Seriously, they didn't care at all that there were counterfeits involved just that seller and I worked out the refund.

BAJJERFAN

@blitzdude said:

@BAJJERFAN said:

Do eBayers really expect eBay to go to the trouble/expense of authenticating everything that gets sold there? What did you expect from them in terms of caring?

I would expect that they or some US authority would care that someone was passing fake US Mint silver eagles as authentic on their site. There was a time in this country when the secret service used to care about such matters. Those times appear long gone. Certainly I didn't expect them to say, well just return the fakes to the seller, let them issue a refund and then he can go sell them off to someone else.

I assume that they would step in and cover you if you could prove to them that the ones you got were fakes. If it happens more than once they may NARU that seller. They've shut down plenty of listings when folks here brought counterfeits to their attention.

blitzdude

@DrBuster said:
Did the head of that eagle seriously pass somebody’s mustard check??

not to my knowledge, maybe the sellers if he really didn't know but I suspect he probably did.

jmski52

It sure would be nice to know the ID of that seller. Getting a full refund shouldn’t influence whether or not he gets outed.

blitzdude

@jmski52 said:
It sure would be nice to know the ID of that seller. Getting a full refund shouldn’t influence whether or not he gets outed.

I periodically check his account. He hasn't sold another coin since the ones he sold to me. I can't say for 100% certainty that he knowingly sold fakes although there are multiple red flags. Not going to smear someone's name if there is any doubt. Interesting enough since the incident with me he has received feedback as a buyer from Apmex, Liberty coin, Bullion exchanges etc. Looks like he is actively buying metal.

1630Boston

Yes @DrBuster , that head looks more like an owl than our American Eagle

AUandAG

Check the BST for great deals and you'll be helping a fellow member.
bob

blitzdude

@AUandAG said:
Check the BST for great deals and you'll be helping a fellow member.
bob

Took a look but didn't see any eagles for sale.

AUandAG

I guess you didn't look very closely....I have a roll of them up and some others.

bob

PerryHall

@blitzdude said:

@AUandAG said:
Check the BST for great deals and you'll be helping a fellow member.
bob

Took a look but didn't see any eagles for sale.

There's a BST Forum and there is also a monthly BST thread in the Precious Metals Forum dedicated to precious metals.

TwoSides2aCoin

I have some.