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There are many great stores where you can buy gold and silver bullion online. Some
examples that I've already discussed include:
Blanchard and Company,
The Copper Cave,
(they sell gold and silver in addition to
copper bullion and other exciting metals),
River City Coins,
The Coin Shoppe (by Shop NBC),
GovMint, and
eBay.
Today, I'm very excited to add another great coin shop to the mix, Monex.
Monex is a really big name in the world of gold coins. There are few bullion dealers
out there that have the scale and reputation of Monex. Said another way, Monex and Blanchard
and Company are the two largest coin dealers that I've discussed on
Gold Why.
Pictures of My Monex Silver Coin
It's actually quite funny, I'm writing an article about Monex but I've never purchased any
coins from Monex! I have purchased coins from Blanchard and Company but not Monex. Why? It's
been a long time since I've made a truly large gold purchase. These days, I'm on a more limited
budget and am making smaller purchases of
fractional gold coins
here and there. However, Monex is certainly in my future (I'm relatively young in my gold
and silver collecting and investing career). We'll talk more about this later...
I'm writing about Monex because I just bought this truly unique one ounce silver Monex coin
from River City Coins. I couldn't pass it up! Just check out the pictures throughout this
article. The coin came in a protective cardboard and plastic sleeve, stamped with the Monex
name. Monex gives the coin a value of $10 and says they would re-purchase the coin for $10
until 1988. Well, it's almost 2011 so that just goes to show how old and respected
Monex is! While this silver round
does not have a date on it, we know it must have been produced before 1988 (or at least during
that year at the latest).
My Monex Coin Is Truly Unique
I'm thrilled with my purchase. It's a truly fine coin and a unique addition to
my collection. I'm all about diversifying within my bullion collection (I've been venturing into
exotic silver art bars and rounds) and this Monex
silver coin gives me the chance to do exactly that. I view it as a unique piece of history. It's
basically a throwback to the old days when the US government would back paper money with gold
and silver (check out pictures of my
silver certificate).
However, here it's the other way around (Monex would redeem your silver coin for paper currency).
My advice to you: Don't sell any one ounce silver rounds in good condition for less than the
mid-20s if you can avoid it. I'm personally holding mine forever and see much higher
prices ahead (silver hasn't even started making its run in my opinion).
Monex Is Perfect For Large Purchases
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So, now that you've seen some images of my Monex $10 silver coin, I wanted to talk a bit about
Monex as a gold and silver dealer. While I haven't purchased anything from them, I'm betting my
experience buying gold bullion from Blanchard and Company gives me quite a head start. Basically,
my take is that Monex is ideal for larger purchases. By larger, I mean purchases of at least one
troy ounce of gold bullion. Ideally, you'd be buying several troy ounces of gold bullion. Those
are the types of orders that I've personally had the most luck with at these larger companies.
They are names you can trust, give you top notch service, and will often give you your own dedicated
sales rep. However, if you're looking to make a smaller purchase (maybe just a tenth ounce
gold cat coin),
I would probably recommend your
local coin shop.
Sometimes with these smaller purchases, it's easier and more fun
to just go to the store and buy it (or even buy from a local coin shop online such as River City
Coins). Why? The larger companies like Monex will often wait a few weeks to send your coins. It's
a process: you lock the price, you send in the check, they cash the check and let it settle for
a few weeks, and only then do they ship your coins. The process is worth it when you're dealing
with a lot of money, but with less money I think smaller coin shops make more sense. That said,
companies like Monex are now offering self serve checkout for smaller orders so my end piece of
advice is to check them out because there are few names as trusted in the gold industry as Monex.
So there you have it! My personal opinion on Monex as a coin dealer (a greatly trusted name for
larger purchases), and a review of my Monex silver coin!
Buy Monex Silver Coins on eBay
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