The 7 Questions to Ask Before Buying Any Coin

Impulse buys are the enemy of longevity. Next time you are hovering over the "Add to Cart" button, pause. Ask these seven questions. If you can't answer "Yes" to all of them, close the tab.

1. Do I know exactly what this is?

Can you name the coin, the metal content, and why it costs what it costs? If you are buying "mystery silver," stop.

2. Can I sell this easily locally?

If you needed cash today, would your local coin shop buy this?

• American Eagles? Yes.
• Obscure foreign commemorative sets? Maybe not. Rule: Liquidity is king.

3. Does this fit my core strategy?

Are you stacking for weight (survival) or collecting for history (numismatics)? Don't buy a $500 graded coin if your goal is cheap ounces. Don't buy a dirty bar if your goal is a museum collection.

4. Is the price fair relative to Spot?

Do you know the premium? If spot is $25 and the coin is $35, you are paying a $10 premium (40%). Is that normal for this item? (See: How Junk Silver is Priced).

5. Can I afford to hold this for 5 years?

If you think you might need this money for rent next month, do not buy. Silver is a long-term savings account, not a slot machine.

6. Do I trust the seller?

(Self-serving, we know). But seriously. Are they established? Do they have a return policy? Do they educate you or just hype you?

7. Does holding this make me happy?

This is the most important one. When the package arrives, will you feel a sense of pride and security? Or anxiety? Your gut knows the difference. Listen to it.

The Result

If you pass all 7 questions, buy with Confidence. You aren't spending money; you are converting currency into a better form of wealth.