Coin & Bullion FAQs

Many people think of bullion as just a bar or wafer. In reality, most major nations sell gold and silver bullion coins — the U.S. mints Eagles and Buffalos, Canada mints the Maple Leaf, Australia mints the Kangaroo, South Africa mints the Krugerrand, and so on. There are also private mints that produce coins and bars with the same metal content. In most cases it's simply a matter of personal preference. One is not necessarily better than another, and prices per coin or bar will vary slightly but the differences typically aren't significant.

Spot price is the basis of your cost — it's the price quoted on tickers and dealer websites, used to trade contracts, options, or futures. On top of spot, you pay a premium — the amount above spot that the mint charges for producing the coin. Your final "out the door" price is: spot price + mint premium + dealer markup.

The lower the premium, the lower your cost per ounce. Premiums vary by coin based on supply and demand — the U.S. American Eagle is the world's top-selling coin, so its premiums tend to be slightly higher.

With a reputable dealer, markups on bullion are normally 3%–5% on gold and 4%–10% on silver. If a dealer is charging 20%–30% or even 100% above spot, you are not buying bullion at a fair price. Always do the math before committing to any purchase.

No — unlike many coin dealers, AmFed has no minimum purchase requirement. Whether you're looking to buy one silver coin or have millions to invest, we accommodate all customers equally. Every client is treated with the same respect regardless of purchase size.

Some dealers advertise low prices and then add "handling fees," "packaging fees," or other add-ons. At AmFed, we do not add extra fees to your transactions. Our only additional charge is shipping on orders under $5,000 — typically $25–$50 depending on whether you're ordering silver or gold. Shipping costs include full insurance.

When you confirm your order, you are locked in at that price — regardless of where the market moves afterward. AmFed immediately emails a confirmation invoice for every purchase or sale. If you don't have email, we can mail, fax, or text it to you.

AmFed accepts personal checks, bank wires, cash, and ACH (ACH is an electronic check using your routing and account number). We do not accept credit cards — credit card fees run approximately 3%–4%, which is roughly our entire profit margin. We chose not to pass that cost on to customers in the form of a price markup.

Once payment clears, we ship your metals and provide a tracking number. Everything is 100% insured.

No — and be cautious of dealers who do. There is no such thing as free gold or silver. The only way a dealer can offer "bonus" metal is if they've overcharged you enough to cover it. One of our clients was offered $10,000 in "free" silver if they spent $100,000 with another dealer. Had they spent that $100,000 with AmFed, they would have received 20% more silver than the competitor's "free" offer.

Don't fall for "one of only 500" graded coins, or coins signed by a "famous" person to make them seem more valuable. When you go to sell, no one cares — and no one will pay you what you paid. They'll pay you what the gold or silver is worth at that moment. Keep it simple: buy standard bullion at transparent prices close to spot.

No contract required. Working with AmFed is a straightforward, transparent process — we operate on the old-fashioned "gentleman's handshake" over the phone. You promise to pay us, we promise to send your order. Be wary of dealers who require you to sign lengthy contracts — those typically exist because of legal issues the company is dealing with.

We do not report precious metals purchases to the government, with one exception: we are required to file Form 8300 for cash payments over $10,000 (this includes cashier's checks and money orders).

Not at all. The website lists our most popular and readily available coins, bars, and rounds. There are thousands of varieties available — if you've seen something on another website that interests you, call us for pricing. We can obtain most minted coins.

Yes — we enjoy buying and selling rare and collectible coins. While our website may not showcase these, we invite you to call and inquire about our collection. About 90% of our buyers focus on bullion, but for the 10% who are passionate about coins, we provide a more personalized, one-on-one service. Rare coins involve many more factors in valuation — date, certification, rarity, available supply — and we address each of those carefully.

It really comes down to your individual needs, goals, and timeline. There is no single right answer. Our brokers listen to why you're looking to buy, what your short- and long-term goals are, and your intended use — and then offer suggestions. We will never tell you what to buy, but we'll help you make the best decision for you.

"Junk silver" refers to pre-1965 U.S. dimes, quarters, and half-dollars that contain 35%–90% silver. Despite the name, they're a popular and liquid form of silver ownership. Junk silver is typically sold in bags of $250, $500, $750, or $1,000 face value.

Certified coins have been graded and authenticated by a recognized third-party grading service. The three most reputable services are PCGS (Professional Coin Grading Service), NGC (Numismatic Guaranty Corporation), and CAC (Certified Acceptance Corporation). A coin bearing a CAC sticker has passed an additional verification that it meets the highest standard for its assigned grade.

Our goal is to ship as soon as payment clears:

• Bank wire: Ships 1 business day after wire is received (if inventory is on hand)
• ACH: Ships approximately 1 week after payment processes
• Personal check: 7–10 day hold after receipt, then ships

Yes — once your order is approved to ship by our inventory manager, we'll email or call you with confirmation and your tracking number. We ship everything via USPS registered, insured, signature required. You can start tracking the day after receiving the tracking information.

We're located in Carefree, AZ — so transit time depends on your location. We've seen orders arrive in 2 days and others take a couple of weeks, but both are exceptions. 5–7 days is the typical average. Because we guarantee delivery, we pay for a higher-security USPS service that requires the package to be secured at every step — which can add to transit time but ensures your metals arrive safely.

No — once an order is locked in, modifications cannot be made. Precious metals dealers operate differently from standard retailers because product prices fluctuate constantly. We hedge our inventory based on your locked order, and immediately un-hedge at the moment you confirm. Changing the order after that point would expose us to market risk we cannot absorb.

Legally, we cannot store products for customers. If storage is a priority, a Precious Metals IRA with a licensed custodian and depository may be worth exploring — call us to discuss.

Bullion should be stored in a secured, dry location. We no longer recommend safety deposit boxes given recent unpredictable bank policy changes. A secure, heavy-duty safe is the best option. One thing to keep in mind: silver is significantly heavier than gold. 500 Silver American Eagles cost about the same as 7 Gold American Eagles — but the silver weighs 42 lbs and fills a shoe box, while the gold fits in your pocket.

Yes — we buy bullion, collectible, rare, graded, numismatic, and semi-numismatic coins and notes, whether you bought them from us or not. Many dealers won't buy back their own coins because they know they sold them at inflated prices. At AmFed, we sell at fair market prices — so we have no problem buying back at market rates.

No — always keep precious metals in the condition you received them. Bullion can dull or oxidize over time, but that should not affect the bid or offer price you receive. Store metals in a dry, cool place. Cleaning — especially any abrasive cleaning — can actually reduce value for collectible coins.

Once you've confirmed with one of our brokers, we'll email you packing and shipping instructions. Depending on the metal and quantity, we'll direct you to FedEx, UPS, or USPS — whichever is most cost-effective and secure for your shipment.

After a broker assesses the size of your collection, we'll arrange a meeting with you. We will come to you — at your home, your bank, or wherever you're comfortable — pick up the coins, and pay you on the spot. We do this anywhere throughout the U.S.

Most payments are made via ACH or check. For larger orders we pay by wire. Local clients who visit our office can be paid in cash.

Yes — AmFed offers a Guaranteed Consignment Program for rare, numismatic, and semi-numismatic coins. Many clients want a quick outright sale, but others prefer to let our brokers work their portfolio coin by coin for potentially much higher returns. While it takes a few extra weeks, clients can make significantly more money through consignment. Visit our Consignment page to learn more.

Yes — we offer a free, no-obligation Coin Performance Review (CPR). By the end of your consultation, you'll know:

• An expert valuation of your coins' potential worth
• How to sell your coins for the largest possible return
• If underperforming, how to reposition into assets with better return potential
• The right decision for each coin in your portfolio

We recommend having your coins appraised regularly — market conditions, supply and demand, and collector preferences all change frequently.

Yes — when you trade one coin for another with AmFed, we trade you at our cost. There is no additional markup on the buy side of a trade. Essentially: selling coins incurs a fee, buying incurs a fee — but when you do both in a single trade, the buy side fee is waived. It's one of the best deals in the industry.

There is significant misinformation in this area — often spread by dealers who push semi-numismatic coins for profit. The following are the only transactions reportable to the IRS per ICTA guidelines:

These thresholds apply to a single transaction — not across a month or year. All other bullion transactions are not reportable.

No minimum — we welcome any quantity, whether it's one coin or thousands. Every seller is treated with the same attention and respect.

We buy the majority of private and government-issued bullion coins, bars, and notes, as well as collectible coins and some foreign coins. For foreign coins we don't purchase, we can refer you to a reputable dealer.

A Precious Metals IRA is a self-directed IRA that allows investors to hold physical gold, silver, platinum, and palladium in their retirement account — rather than being limited to stocks, bonds, or mutual funds. It gives you complete control over your investment choices while providing the same tax advantages as a traditional IRA.

No. Despite what some brokers have claimed, "Home Storage" IRA structures are not viable. The rules make it nearly impossible to qualify for home storage, and as of 2021, new case law confirmed that holding IRA metals inside an IRA LLC is not a legal structure. Those caught doing so face significant fines and penalties. If you currently have a Home Storage IRA, call us immediately — we have helped many clients get their accounts corrected.

We can provide names of custodians we've worked with and recommend, but the final choice is always yours. AmFed and its brokers are not fiduciaries and cannot provide financial or tax guidance. We always recommend consulting a financial planner for in-depth financial or tax-related decisions.

A custodian will:

• Be a licensed custodian with the US government
• Provide secured and insured storage in a licensed depository
• Send you quarterly statements
• Handle your distribution requests
• Ensure your IRA meets all legal requirements

A custodian will not:

• Act as an investment, tax, or legal advisor
• Recommend or endorse specific investments or advisors
• Determine the fair market value of your investments
• Perform due diligence on investments on your behalf
• Determine whether a transaction is a prohibited transaction

Yes — through years of working with multiple custodians, two stand out for responsiveness and client experience:

• CamaPlan — a Pennsylvania-based company that works with IDS depository in Delaware. Both are very responsive and great communicators.
• Strata Trust Company — a wholly-owned subsidiary of Horizon Bank SSB, partnered with DDSC depository in Delaware.

Under Internal Revenue Code sections 408(m)(3)(A)(i)–(iv) and 408(m)(3)(B):

• Gold Coins: American Eagle (bullion & proof), American Buffalo (bullion only), Australian Kangaroo/Nugget, Austrian Philharmonic, Canadian Maple Leaf, any .9999 fine gold coin
• Silver Coins: American Eagle (bullion & proof), America the Beautiful bullion (no burnished), Australian Kookaburra, Austrian Philharmonic, Canadian Maple Leaf, Mexican Libertad, any .999 fine silver coin
• Platinum Coins: American Eagle (bullion & proof), Australian Koala, Canadian Maple Leaf, Isle of Man Noble, any .9995 fine platinum coin
• Bars & Rounds: Gold, silver, platinum, and palladium bars/rounds produced by NYMEX/COMEX, NYSE/LIFFE, LME, LBMA, LPPM, TOCOM, ISO 9000, or national government mint-accredited refiners. Minimum fineness: gold 99.9%, silver 99.9%, platinum 99.95%, palladium 99.95%

Once your account is established, you can fund it by rolling over or transferring an existing IRA — initiated with your custodian online or via paper form. You can also make annual contributions up to IRS limits (which change each year, with catch-up provisions for those who qualify by age). Consult a financial advisor for specifics on contribution limits.

Once funds are available in your IRA, contact us and one of our brokers will lock in your transaction and generate an invoice. You'll then complete a Precious Metals Investment Direction form with your custodian. Once the invoice and form are submitted, your custodian remits payment to us and we ship your metals directly to the depository to be stored on your behalf.

Yes — but there are important tax and timing considerations. We are not licensed financial consultants or tax advisors. For any in-depth questions about retirement accounts, distributions, or tax implications, we strongly recommend speaking with a licensed financial consultant or tax advisor.

We're located at 500 Easy Street, Carefree, AZ 85377 — at the corner of Easy Street and Lucky Lane. Carefree is a small, charming town just north of Scottsdale with a population of about 4,000, nestled in the beautiful Sonoran Desert and known for its witty street names. Yes, we're really on Easy Street!

Yes — we work with clients in Arizona and throughout the entire United States. We do not buy or sell internationally.

Monday – Friday: 8:00 AM – 5:00 PM (Arizona time)

We are closed on: New Year's Day, Presidents' Day, Memorial Day, 4th of July, Labor Day, Thanksgiving, the day after Thanksgiving, Christmas Eve, Christmas Day, and New Year's Eve.

You can place an order online, by phone at (800) 221-7694, or by visiting our office in person. Phone and in-person orders allow you to speak directly with a broker who can answer your questions in real time.

Absolutely — we love meeting our clients. We have private meeting rooms for discussing buying, selling, consigning, coin evaluation, or any questions you have. We ask that you call ahead to schedule an appointment: (480) 553-5282 or (800) 221-7694.

ACH payment information is not stored in our company's database — it's securely held within our bank's database. This is a deliberate choice to protect your financial information.

Preferred clients get first access to discounted purchase opportunities. When we acquire a substantial deal, we'd rather pass the savings on to our clients than sell back to a wholesaler. For example: in September 2023, Silver American Eagle premiums jumped to $14.50/coin (vs. a normal $3–$4). We emailed SAE buyers and offered to trade 100 oz of SAEs for 120 oz of silver — a 20% uplift for our clients.

Beyond competitive pricing and 40+ years of experience, AmFed actively monitors your holdings and reaches out when an opportunity arises for you specifically. In 2019, we identified clients who held 2014 $25 Gold American Eagles (only 35,000 minted) and facilitated trades to full 1 oz Eagles when collector demand spiked. We sell at fair market prices, buy back fairly, and keep you informed long after the initial purchase.

Yes — all educational materials are written by Nick Grovich, with 50+ years of experience in the coin and precious metals industry. Available resources include:

• Gold Buying Made Simple
• Our Official Guidebook
• Newsletter and market update emails
• Live spot metal pricing
• In-depth guides on gold, silver, and platinum
• Precious Metals Self-Directed IRA information

Visit our Resources page or call (800) 221-7694 to request a free copy of any publication.