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?

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.

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.