Peter Schiff Launches Euro Pacific Precious Metals

Peter Schiff, the founder of brokerage firm Euro Pacific Capital, has recently announced the launch of his long awaited Euro Pacific Precious Metals firm, dealing exclusively in the trading of physical silver and gold coins and bullion bars.

On the heels of recent outcries over the promotion and sale of numismatic coins through talk radio hosts Glenn Beck, Mark Levin and others, Schiff’s firm will not be offering numismatic coins citing high margins as one of the reasons behind the decision. “We think that, for two critical reasons, numismatic coins generally make for poor investments,” says Peter Schiff. According to Schiff, numismatics are too expensive with, “mark-ups of 20 to 35%,” as well as problems with trading those coins in for a fair price when the investor is ready to sell, “liquidity may be severely limited for little known, unusual or exotic coins.”

EuroPac Metals carries a variety of precious metals bullion products, including gold and silver coins and bars ranging from one to ten ounces.

The minimum purchase requirements when purchasing from Europacific Precious Metals are 10 ounces for gold and 500 ounces for silver, making it difficult for investors on a tight budget to work with his firm.

Euro Pacific Precious Metals, like its sister firm Euro Pacific Capital, is a US-based company operating out of New York.

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