FAQs
Yes. We provide a two-way buy-sell market.
The spread is the difference between the bid price and the asking price.
In most cases, no. We must file IRS Form 8300 for any cash payment(s) made for a single transaction that totals more than $10,000. A single transaction cannot be broken down into multiple transaction to avoid reporting.
We accept bank wires, personal checks, cashier’s checks, money orders, credit cards (Visa, Master Card, American Express, and Discover).
Bank wires and cashier’s checks ship in 3 – 5 business days. Personal checks and credit cards ship in 7 – 10 business days. Some products may take longer to ship based on availability.
Firstly, we recommend you send your metals to us using Registered US Mail. Next, call us with the registration numbers and the sale can be “locked in” with our trading department. After that, you will receive your certified check within 10 business days. Check out our sell page for more details.
Yes. There are options available for tax free transfers and rollovers into Traditional or Roth IRAs. For more information, please contact us at: [email protected], or call 888-928-3390 to speak with a representative.
We recommend you purchase a safe to privately store your precious metals. If this is not possible, find a private place in your home where you can store the metals. Additionally, you can also consider a safety deposit box.
Midwest Bullion Exchange, Inc. accepts credit card purchases up to $25,000 per transaction.
Initially, when silver was discovered around 3000 BC, it was considered more desirable than gold. Later, by the 1700’s, the Spanish were developing mines in Mexico, Bolivia and Peru. Argentina was actually named after Argentum, silver’s name in Latin. Before this, Aristotle advised Alexander the Great to store his water in silver containers to prevent the growth of bacteria and disease. As a result, there are many languages in the world today where the words silver and money mean the same. Silver has proven itself to be irreplaceable in industry and technology. Because of this, silver is heavily mined in many Latin American Countries as well as China and Turkey.
Throughout history, silver bullion coins have been used for trade and barter. Today, 1 oz silver coins are the first choice for many investors looking for financial security. They have a lower price per ounce than other metals and have little collector value, making them more attractive to investors who seek the safety they provide. Moreover, a silver coins’ face value is worth less than its true value which is determined by its silver bullion content. In fact, by purchasing a silver coin, you are investing in the weight, not the face value. As a result, silver coins that have collector value have a premium beyond the actual silver content; these typically have numismatic value because of their age. In conclusion, we highly recommend that you only those that have been graded by third-party grading services. For example, Professional Coin Grading Service or Numismatic Guaranty Corporation are highly trustworthy.
Currently, world silver inventories are at their lowest levels in 250 years. Because global silver consumption is at an all-time high, the USGS has predicted that silver could become nearly extinct in 10 years. At this time, with unprecedented demand and a well-documented potential supply problem, the sky seems to be the limit for silver. In summation, when you secure a private, physical position in silver, you gain financial security and have the opportunity to experience growth never before seen.
Prior to 1965, coins minted by the United States Mint contained 90% silver. A junk silver bag is any combination of dimes, quarters, half dollars and dollars with $1000.00 face value. For example, 5000 90% silver dimes and 2000 90% silver quarters would be the equivalence of $1000.00 face value, and would be considered a junk silver full bag. A full bag of 90% junk silver coins contains approximately 715 ounces of pure silver and weighs 56 lbs. Junk silver coins allow you to own silver in a smaller unit and is still spendable as currency. The premiums over the spot price for junk silver are low, which makes it not only affordable but practical. If you like the advantage of owning silver bullion that is easy for trade and barter, buying junk silver is an excellent choice.
90% Junk Silver Dimes
Liberty Head (Barber): 1892-1915 (.07234 oz. pure silver coin)
Winged Liberty Head (Mercury): 1916-1945 (.07234 oz. pure silver coin)
Roosevelt 1946-1964: (.07234 oz. pure silver coin)
90% Junk Silver Quarters
Liberty Head (Barber): 1892-1916 (.18084 oz. pure silver coin)
Standing Liberty: 1916-1930 (.18084 oz. pure silver coin)
Washington 1932, 1934-1964: (.18084 oz. pure silver coin)
90% Junk Silver Half Dollars
Liberty Head (Barber): 1892-1915 (.36169 oz. pure silver coin)
Walking Liberty: 1916-1947 (.36169 oz. pure silver coin)
Franklin: 1948-1963 (.36169 oz. pure silver coin)
Kennedy: 1964 (.36169 oz. pure silver coin)
Kennedy: (40% silver) 1965-1970 (.209 oz. pure silver coin)
90% Junk Silver Dollars
Morgan: 1878-1921 (.77344 oz. pure silver coin)
Peace: 1921-1928 and 1934-1935 (.77344 oz. pure silver coin)
