When you purchase silver bars, or even very common silver coins, you’re basing your purchase on the bullion value. How can you tell if you’re paying for bullion value only? That’s fairly easy.
First, you’ll be paying premiums similar to those shown here. Second, you won’t be reading about the rarity or grade of the coin.
How can you tell if your purchase price is based in part on numismatic value. Well, it’s just the opposite. The price you pay for a 1 oz. coin may be far above the spot price of the metal involved
The problem with buying coins valued numismatically is that you’ll get less gold or silver for your dollar, and it’s more complicated to identify a fair price.
Show me a 2009 Maple Leaf, and I can tell you what it’s worth. Show me a 1922 St. Gaudens graded MS-69, and I’m at a loss. It’s true that the grading services and the internet have improved the situation, but it’s still too complex for me.
Hey, I said "for me." I prefer bullion type coins. If you prefer numismatics, go for it. But please. Make the effort to know what you’re doing.
“There's always a patsy at the poker table. If you've been at the poker table for 30 minutes and you don't know who the patsy is, you're the patsy.”
Don’t be the patsy!
You might enjoy this explanation.