FAQ's

Q: Will you buy back my gold and silver products if the price goes up?
A: Yes. We provide a two way buy – sell market.

Q: What is the spread?
A: The spread is the difference between the bid price and the asking price.

Q: Is my transaction reportable to the government?
A: In most cases no. We must file IRS Form 8300 for any cash payment(s) made for a single transaction that total more than $10,000. A single transaction cannot be broken down into multiple transaction to avoid reporting.

Q: How do I fund the transaction?
A: We accept bank wires, personal checks, cashier’s checks, money orders, credit cards (Visa, Master Card, American Express, and Discover).

Q: How long does it take to get my shipment after I place the order?
A: 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.

Q: How do I sell my coins and bars?
A: We recommend you send your metals to us using Registered US Mail. Call us with the registration numbers and the sale can be “locked in” with our trading department. You will receive your certified check within 10 business days.

Q: Can I put precious metals into my IRA?
A: Yes. There are options available for tax free transfers and rollovers into Traditional or Roth IRA`s. For more information or to request information please contact us at: info@midwestbullionexchange.com, or call 888-928-3390 to speak with a representative.

Q: Where do I store my precious metals?
A: 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. You may also consider a safety deposit box.

Q: What is the maximum amount I can charge on my credit card?
A: Midwest Bullion Exchange, Inc. accepts credit card purchases up to $1,500.00 per month.

Q: What is silver?
A: When silver was discovered around 3000 BC it was considered more desirable than gold. By the 1700`s, The Spaniards were developing mines in Mexico, Bolivia and Peru. Argentina was named after Argentum, silver`s name in Latin. Aristotle advised Alexander the Great to store his water in silver containers to prevent the growth of bacteria and disease. 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. Silver is heavily mined in many Latin American Countries as well as China and Turkey.

Q: What are silver coins?
A: Throughout history silver bullion coins have been used for trade and barter. Today, 1 oz silver coins are the first choice for the many investors looking for financial security with a lower price per ounce than other precious metals.Silver bullion coins have very little collector value, and are more attractive to investors who seek the safety that silver coins provides. These types of silver coins usually have a face value worth much less than the coins true value. The true value of these coins is determined by its silver bullion content. When you purchase a 1 oz silver coin, whether online or face to face from a dealer, you are investing in the weight of silver, not the face value stamped on the coin Pure silver bullion coins are most common in the 1 oz. size. The United States Mint, Royal Canadian Mint and the Austrian Mint, produce some of the most popular 1 oz silver bullion coins in the world.Silver coins that have collector value usually have a premium above and beyond the actual silver content. These types of coins have numismatic value usually because of their age. When considering the purchase of any numismatic silver coin, we highly recommend that you only purchase 1 oz silver coins that have been graded by a third party grading service. Silver coins graded by PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation), are usually the best for determining value of a silver coin you are considering purchasing.

Q: Why invest in silver bullion?
A: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. With unprecedented demand and a well documented potential supply problem, the sky seems to be the limit for silver. Once you secure a private physical position in silver you not only have financial security, you may have the opportunity to experience growth never before seen

Q: What is 90% “Junk Silver” ?
A: 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. Junk silver bags consist only of silver coins minted before 1965 and thus contain 90% silver. 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 Bags are available in dimes, quarters, half dollars and dollars. When you decide to buy junk silver coins, you can purchase in the following increments: full bag $1,000 face value of junk silver coins, or a small bag $100 face value of junk silver coins.

Q: What denominations are available when I buy 90% Junk Silver?
A:

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)

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