Thursday, September 17, 2015
A shout-out to Montana Rarities and Mark Haythornthwaite
I mentioned a short while ago that I was in the process of converting up to 10% of my cash reserves into precious metals, specifically gold and silver coins (splitting the value equally between those metals).
I'm a novice in the US precious metal market, and I know full well that it's dangerous to rely on your own knowledge when you don't have any! I looked for a dealer who was honest, helpful and forthright with advice. Courtesy of hearty recommendations from fellow bloggers Commander Zero and The Other Ryan, I was led to Mark Haythornthwaite's Montana Rarities. He proved every bit as helpful and knowledgeable as they said he'd be. It must have been frustrating for him to have to patiently explain to this novice what most of his customers already knew, but he took his time and opened my eyes to a great many potential pitfalls. He didn't try to conceal the real problems involved in getting one's hands on physical silver right now, given high market demand, and the resulting higher premiums over 'spot' price that prevail. He also laid out all the other costs involved, and didn't try to hide anything in 'catch-all' general charges or unspecified expenses.
I ended up buying a number of silver one-ounce coins such as the 2015 Silver Britannia:
and gold coins like the 2015 US Gold Eagle $5 piece, weighing 1/10th of an ounce:
The shipment arrived today, with everything present and correct as promised. Mark delivered great service and good value for money in today's market. Now I'll have to rent a safe deposit box in a local vault - they're not the sort of thing I want to keep at home, for obvious reasons of security.
If you need a source for precious metals, I recommend Mark and Montana Rarities very highly. No, he doesn't offer commissions or pay for recommendations like this - I'm just giving it because he earned it the hard way.