SMB Posted March 8, 2010 Posted March 8, 2010 New one on me... Client is the Trustee of a PS Plan. Investments are pooled Trustee-directed. Trustee is considering purchasing as a trust investment U.S. silver coins minted in 1964 or earlier (which apparently have significant silver content). I was surprised to find that there does not seem to be an outright prohibition on investing in same - assuming it otherwise meets prudence and diversification requirements. I even came across a website that will value silver coins, based on the type and number of coins and the current price of silver - so valuation not an issue. Anyone had any experience with such? Thanks!
J Simmons Posted March 8, 2010 Posted March 8, 2010 New one on me...Client is the Trustee of a PS Plan. Investments are pooled Trustee-directed. Trustee is considering purchasing as a trust investment U.S. silver coins minted in 1964 or earlier (which apparently have significant silver content). I was surprised to find that there does not seem to be an outright prohibition on investing in same - assuming it otherwise meets prudence and diversification requirements. I even came across a website that will value silver coins, based on the type and number of coins and the current price of silver - so valuation not an issue. Anyone had any experience with such? Thanks! Is there a numismatic (coinage) value beyond the mere value of the silver as a precious metal? John Simmons johnsimmonslaw@gmail.com Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.
SMB Posted March 9, 2010 Author Posted March 9, 2010 J, So, if there were "numismatic" value, would make such coins "collectible" versus a "commodity"? SmB
J Simmons Posted March 9, 2010 Posted March 9, 2010 J,So, if there were "numismatic" value, would make such coins "collectible" versus a "commodity"? SmB That's the tree I was barking up. I think there is an exception to the rule against collectibles for U.S. minted gold coins, but not silver ones. John Simmons johnsimmonslaw@gmail.com Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.
Guest dbvail Posted March 10, 2010 Posted March 10, 2010 I have had the pleasure of serving clients that deal in collectibles, coins and other 'stuff'. The DOL and IRS audited one of them and the bottom line is if it can be valued indepndently then it is ok. Hope this helps.
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