What's up YouTube Silver dragons here I'm really excited to be talking about Silver what's the best silver to be Buying today I'm joined by Sean Reynolds The customer service manager over at Bullion Max welcome back Sean good to be Here again awesome hey last time we Talked about gold we had a great Conversation and uh I'm curious your Thoughts on Silver let's start with if Someone wanted to invest in silver today What are some of the products you would Sort of lead them towards What I like to do with someone who's new To it is is first of all introducing to The concept of the premium if they don't Know what that is and so one of the Things I will start with is is silver Rounds because they typically have the Lowest premium not always but this is Kind of part of that Journey where you Always want to shop but start here with The Assumption it will be the least Expensive uh thing that we have that Doesn't involve purchasing you know Hundreds of ounces or something like That so to start there and then show Them bars and the fact that are you know Around is just a round bar and then show Them how how those come here's how you May want to store them things of that Nature and then go over and talk about Coins and what's the difference between A coin and a and a round and then also
Let them know that coins typically cost More but also as a business we typically Pay more for them when you sell them Back to us so now what you want to look At is okay so what is the difference in Premium And do you think there's a value there To buy the coin instead of the round Given the difference in price now last Year We had so many situations where we had Coins that were less expensive than Rounds which was fun because of course When we had that cooking we had the Lowest price on on a lot of stuff we we Did that with the silver Maples and uh And Krugerrand and uh Kangaroos and Philharmonics at any given time we had The lowest price out there so I had a Lot of those new guys buying coins Because they were less expensive than The rounds and then later if they're Going to sell those back to us we will Probably pay them more uh for those than We would have had they purchased rounds But that's kind of what I what I go Through uh with them and then as we get Things that go in and out of stock and We get good buys on things and we get You know hey you're just you're you're At the point where your contract's up Now you're paying the new rates which Are higher you always got to shop and Take a look at what's you know what's
Available versus what it costs but it Always starts with silver rounds I think Yeah that's a great place to start it Seems like uh kind of the stacking Essentials are the silver rounds the Silver bars and the silver coins and you Guys carry all of those and you did Bring up Um uh silver bars and one thing I wanted To point out is if someone wants to get Like a really low premium Um the 100 ounce silver bars are great But you have to buy a lot of silver at Once and when you sell it you have to Sell a lot at once as well so it's kind Of like a catch 22. a little bit because Even if you're going to sell back to boy And Max you're going to be responsible For the postage and the insurance the Insurance is probably going to cost you More than the postage but you have 100 Ounces that you need to pack up and ship Safely so yeah there there's a potential Downside and then locally it's not that You can't sell honor notes bar it's just You're not as likely to have someone who Wants to by that as say for example a 10 Ounce bar or or a tube arounds or Something like that so your your Potential customer uh is uh you know you You've shortened your your Market a Little bit Uh because not everybody wants 100 ounce Bar but a great way you're absolutely
Right a great way to save money on Premium buying a big old chunk of silver Yeah and I would say for people starting Out you know one ounce is definitely the Best size most of my silver stack is all One ounce items whether it be rounds Bars or coins and so I like that you Guys carry a lot of different options When it comes to one ounce can you walk Me through uh some of the coins that you Guys sell and maybe which ones would be Better than others Um maybe you could talk about Silver Eagles and the high premiums there yeah Sure it seems we're always talking about The Eagles and the high premiums but Let's talk about the other end of the Spectrum first my favorite coin is the Kangaroo and the reason I like the Kangaroo is it's priced more like a Round than some of the more expensive Bullion coins that are out there now What I particularly like about it is I Love the Perth Mint I think everything They make is fantastic the design the Quality the fact that it's four nines Instead of three nines pure and then Other coins kind of in that same uh kind Of price area Um there are the the philharmonics from Austria Uh for some reason people like those or They don't like those they do feel a Little different
Uh in terms of the silver if you put it Side by side with uh some other syllable Young coins I don't know why that is but I think that may be why some people are Not huge fans well it could be the Smooth edge too I mean it did true true Because that's not common and I'm glad You mentioned that Um yeah the smooth edge and there's and There's no Ridge either it it really Just the edge is The Edge it's a it's a Weird feel I agree they're kind of Smaller I think they're only 36 Millimeters and so they're kind of the Weird one of all of the points they are They are but fortunately for them at Least if they're going to be weird They're also typically one of the Cheaper ones so that's that's helpful Also in that price range if you can get Your hands on them silver Krugerrand I Want to say that was the last coin that I sold that had a premium that started With a four Wow nothing in the shop is doing that Right now but uh that guy bought Everything we had Uh which tends to happen when you've got The best price on some things you'll get Cleaned out and then you go well let's See what place is this when it comes in What does it cost next time and so what Will we sell it for next time Um but I I like those I think it's fun
That they're descendants of the Granddaddy of modern bullion you know They're just fun Um but they're also typically a really Nice price coin uh britannias are the Last ones that I would kind of throw Into that budget category uh Budget-friendly category Um it is typically priced very similar To those and then there's kind of a Space And then you get into things like the Maples and then uh you know of of the Common stuff right now the the American Eagle uh is you know easily the most Recognizable silver coin probably the Most preferred uh by folks who are you Know just looking for solid investing And they want what they have to reflect That solidity to many people that means Eagles but to many people that also Means super high premiums these days and Uh it's funny because it's not that They're you know when you when the the Dealers buy them directly from the U.S Mint that they're that much more Expensive than they used to be 10 years Ago what did we decide it was 40 cents Uh how how much their the premium is Yeah like when when I was with apmex Years ago we bought them two bucks over Yeah right now it's uh 240. uh 235 over Wow okay even more cynical yeah but Still you know even we have a retail
Price of about 17 bucks but I'll tell You what it's not like you know we've Got ten dollars in them and we're Selling them for 17. I mean really our Margins are the same as they are on Other products you'd be shocked if you Knew how little we were actually making With a premium that high and one thing That people may not know is You know what's baked into the premium Is also what we paid for it so it's not Like look at those guys over You folks ought to be arrested for Charging that much for that coin Well there's a lot more going on there Than spot Plus premium equals well That's our profit in the in the premium Not even close not in close yeah all Right let me ask you this so when it Comes to uh purchasing silver online I Know some people they prefer to pay at a Local coin shop because they walk in With cash and they walk out with their Bullying is there any risks associated With buying silver from an online dealer Depends on the dealer you know I I can Only speak for my business Um but I can tell you Um if there are problems we are faster To resolve them than than anybody else In the planet and when I say that I'm I'm talking about either loss because The package never showed up or damaged Where you receive part of your stuff or
None of your stuff but hey here's the Box You know sorry about your luck We have really good internal processes Where we're gonna make things right for The customers quickly as we can And uh we'll sort it out later with our Insurance company or the carrier you Know we don't want to hold people up Because of course lost and damage is one Of the worst experiences you can have When you're when you're purchasing uh Metals uh online and so we we recognize That and really try to resolve those Issues as quickly as possible we'll send People a declaration of loss which just Means if this ever shows up I won't just Keep it I'll give bullion Max the opportunity to Either pick it up for me or what has Happened more often than not is people Buy it when it shows up Um That's about it we usually don't require A police report and Police don't want to fill one out if It's less than a thousand dollars anyway And many orders are So you know a lot of where other Companies tend to get held up in uh you Know just making sure that you suffered The loss Tracking information is all I need if if The carrier says the package never
Showed up it never showed up Got it cool let's reship fill up this Form for me and let's get you taken care Of Other than that You know if you're paying by by a credit Card or PayPal you've got extra recourse If there is a problem however it costs More to do that Um we still get a lot of orders where People send personal checks I would say Really The difference is Walking in with cash walking out with Stuff that's that's always going to be a Better experience because that that Gratification you just got it you got Your stuff or same with selling you walk In with your stuff you walk out with Cash can't beat that either But not everybody has access to that and But I think it's great that you Mentioned it because Um it's fun to go in there it's fun to Shop it's fun to to look at it and you Know you do look with your hands you Don't just look with your eyes you look With your hands and you and and you hold It up close to you and you go wow I've Never seen one of these before so We can't really offer that Um but Um we we try to be the next best thing By making it as easy as possible to
Purchase we've got six payment methods That people can use we even accept Crypto Um but uh ACH is probably the the Favorite payment method because you're Paying with your bank account but you're Not having to mail us Um a check And those typically those payments Typically clear in three business days And then uh we ship on the fourth yeah That's my favorite way to pay uh Whenever I buy stuff online the ACH it's So easy and uh yeah I've never been Worried about any any problems with that And so every time I post it it's been a Great experience but you know you Mentioned uh being able to go into a Coin shop and hold the coins yeah you Have to wait a little bit longer to Actually hold them when you buy them Online but it's kind of fun too because You get a package in the mail it's like A surprise you're opening a present kind Of and so I enjoy both experiences yeah And you you can have both you know if It's one of those things where you Finally get to see one in person you Like it but you're not going to pay Those prices for it okay then when you Do get the one that you ordered online That's that's cheaper I like that little Bit of joy that that comes with shopping Like that just because now you got yours
You know you've been thinking about it You've been dreaming about it and and Today's the day because the package Showed up well there was something else You mentioned and not everyone has a Local coin shop near them I am blessed to have like 10 of them Within a you know 30 minute drive and so I've got lots of options some people They have one coin shop and it's three Hours away and the guy is charging 50 Bucks an ounce you know so yeah yeah Well you know you gotta eat Um I'm also blessed I've got just like a Few blocks from my house I've got three Right down the same street And so uh a few a few years ago when I Was doing my buying and trading Um one guy was announces announced I Don't care what it is I'm paying you a Market rate All right so maybe I used that guy from For my bars and and rounds and then Another guy loves coins but he doesn't Like bars and rounds he'll pay you a Premium over spot for your coins but He'll pay well under For bars and rounds okay well I just Never brought that guy in my bars and Rounds he was my coin guy then I had Another guy who would pay pretty fair Prices uh but he could only buy a little Bit at a time like I can take out about 20 ounces otherwise we get you know more
Than that I'm happy to buy it from you But I'll pay you X which is usually Under market so needless to say that guy Never got more than a handful of stuff For me because I'll just wait and talk To the other guys if uh if I know They're gonna pay me more but yeah it's Great to have those options and and if You don't that that's why we're here Exactly and and one thing too that I Would like to point out uh if you go Into a local coin shop you know they're Only going to have what they have I mean Maybe they can order something but then You're waiting you know an extra two Weeks or a month or who knows uh but Typically online there's a larger Selection to choose from Um so that's another benefit I think uh Shopping somewhere like bullion Max Yeah and No we don't go too far beyond the the Usual and customary stuff you know we're Still kind of young I don't think that We're at the point where We are carrying everything we will carry Um I I would like to see us go a little Deeper on the on the lunar uh calendar Stuff with uh with Perth that is such a Great line plus those Um from my time at app Max I was just Amazed by how much those coins Appreciated in such a short amount of Time and I think it's that I think it's
The limited run of 300 000 of Any Given Coin Um but also there's great interest in That so I I recall there was one one Year once we had sold through the one Ounce of whatever it was I think it was Year the dog a few years ago and um I want to say we were already buying Back those coins Um for more than people paid for them Like within a month That was crazy Um but like anything else that was not Sustainable it went up and down but if There ever was anything that was like Predictably collectible you know this is This is going to very quickly appreciate In value it's that it's the Perth Mint Lunar Series all right well uh hey Sean I gotta say uh thanks once again for Joining me in the video and we'll have To do it again in the future sounds good
