In today’s diverse bullion market, silver bullion offers an economical way of owning silver in quantities that suit your personal budget. In the price comparison table above, you can find silver in a variety of weights from 1 oz to 100 oz. If you browse further to one of the bullion dealers’ sites, like GoldSilver or Money Metals, you can find silver bars ranging from 1 gram to a whopping 400 oz. Investors find silver bullion bars very popular and often prefer them over silver bullion coins for several reasons. Some common factors that push many towards investing in silver bars include:
These are some things you can look for when searching for a place to buy silver.
Learn all about how to buy silver online before you actually do it. This article provides advice about the different formats that you can buy silver, from my own experience as a silver enthusiast.
Silver bullion bars are a cheaper way of buying silver and usually have lower premiums than silver coins and silver rounds. The first silver purchase I ever made was a 1kilo bar.
Deciding where to buy physical silver coins and silver bars is an important decision. After deciding what you want to buy, go to my Silver Coin Prices table or Silver Bullion Prices table, find the item you want to buy, and click the arrow at the top of the column to sort by price. Then, check the gold dealer ratings–indicated by the stars under each dealer’s name–to determine which dealer has the best combination of low prices and a good reputation. You should consider other criteria such as:
Junk silver coins, or early US legal tender coins (nickles, dimes and quarters), actually contain silver. In fact, depending on the year and coin, some coins are up to 90% silver. The word, junk, refers to their collectible value, not the silver value. You can buy them by the bag, and they usually consist of early dimes, quarters and half dollars. You can also buy junk silver coins by the roll. 90% silver bags are listed on the Silver Coin Prices table.
Scrap silver is another way of accumulating silver. Here you can often get silver at cost price. You do need to know a bit about silver and what price you should pay for scrap. Old broken jewelery is a good source. Sometimes old silver coins can turn up as scrap silver. In this case always check if the coin has any collector value because if it does, it can be a lot higher than the silver content. It pays to do some research into the area if you intend collecting or accumulating scrap silver.
Another way of investing in silver that reduces premiums and saves on shipping costs is by using a system where the silver is purchased on your behalf and stored in a bank vault for you. A drawback of this, however, is that you don’t physically posses the silver yourself, and dishonest warehouses could sell the same silver to multiple people. For this reason, I do not recommend storage; however if you’ve determined silver storage is the best solution for you, here are some reputable places that offer silver storage:
These services let you buy silver in virtually any quantity, from just a gram or two up to as many ounces or grams as you want. This is ideal for an investor because you can implement a regular savings plan that doesn’t break the bank. The silver is stored in a remote bank vault and is audited by an independent third party on a regular basis to ensure that the silver or gold in the vaults exactly matches the record of silver in the clients’ accounts. Most of these brokers also let you collect physical silver, if you choose to do so
Silver ETFs are a popular way to buy silver, which I morally oppose. ETFs trade fictional paper silver (similar to paper gold), and without the ETF market, it would be pretty hard to manipulate silver prices as they do today.