Why do people buy silver coins and not bars
 

This makes no sense to me

so a 1oz coin is 39.70 from the local mint
real cost 1oz $28.76 loss of $10.94 per coin

Why not just buy a bar at 10oz for $314.18
real cost 10oz $287.60 loss of $26.58 per 10oz bar

or even buy a bigger bar where the loss is less if coin collectors are buying them in 10's, 100's or even 1000's they are loosing money before they start.

Also that's the cheapest coin, an eagle 1oz mint is around $75 that's a loss of $46.20 on each coin.

Because the coins are heavily marketed and aimed at idiots.

i guess people who buy the coins buy them for the face value.
in case the silver price crashes you still will be able to get atleast face value for it.

I find bars inconvenient for transport.

The coins have collector value in addition to raw metal value.

Even with the bars you aren't going to get them at the price of gold since someone had to pay for those bars to be made.

Wow, who is charging you $75 for a 1 oz Silver Eagle? Most places have those in the $32-34.00 range right now for a single coin, depending on spot.

https://online.kitco.com/bullion/com...SD.html#silver
http://www.apmex.com/Category/160/Si...13__Prior.aspx

Thanks i will have a look
They where mint certified best condition

I'm guessing they were Silver Eagle 1 oz "proofs" at that price, which is a collectable coin, they are early/special versions that have more distinguished detailing from the early minting. If that's the case they would hold their value as a collectible coin as long as they were cared for properly and kept protected and out of circulation (no direct handling of the coin).

because the gov can't confiscate the coins (unlike bars)

Why would anyone buy either one? Why not just the ETF?

I personally like having coins. If i ever want to sell them off I know ill make more money selling coins.

I had a friend who had 5 of his 10 oz bars exchanged to coins just to have a nice stack of coins.

and shinier :2 cents:

:1orglaugh:thumbsup:thumbsup right on, love to see them coming into my store and listening to the stories as to what they paid , thinking they will get a premium :winkwink:

Also. You don't have to report coin purchases and sales to the IRS or any other government agency. Therefore if you make a gain on a sale, it is up to you whether or not to report it and pay taxes on the gain.