One of my goals is to help other people make some extra cash. Most of the deals I write about are instant – meaning you buy an item for $X and can flip it right away for $XX profit.
One item that I enjoy buying is silver – especially silver coins. The price of silver has skyrocketed drastically and it does not seem to be slowing down. One very quick and easy way for someone to make money is with silver coins. Well, now might not be the best time to buy a silver coin collection from someone, but it is the BEST time to buy one coin that I came across: The 2010 W Silver Eagle.
For those who are not familiar with silver coins – the US Mint releases an American Eagle coin every year – in gold and silver. The silver coin weighs 1 ounce and is made of .999 PURE Silver. The US Mint also releases 2 versions (well they did) – a regular coin and a proof. A proof is a coin that has a mirror like finish and tends to be more sought after than the regular version. The proof coins are also minted at West Point – which is why they have a W mint mark. Not many coins are minted at West Point – which is another reason they are highly collectible.
The US Mint has NOT produced a proof since 2008. That was the LAST year to buy one – until NOW. The US Mint is now selling the 2010 West Point Silver American Eagle on their site for $45.95 – which is the cheapest price you will find it anywhere. Any coin shop is going to charge you more. Ebay is already selling these coins for $50+. Sure that is not a lot of money but this proves that once this coin is sold out – prices WILL skyrocket. Silver is currently right around the $30 an ounce mark – so a $15 markup for a beautiful coin is not that bad… especially since they are ALREADY being sold over MSRP. So don’t be one of the suckers who buys this coin from a coin shop, ebay, or online. Be the person who secures these coins – hold onto them till they sell out – then take them to ebay/craigslist/etc. O yeah, and feel free to throw 10% my way
Here is a DIRECT LINK to the coin from the Mints site.