How To Buy Silver

Learn How To Buy Silver

The first thing you should ask yourself when the thought of buying silver crosses your mind is, why do I want to buy silver?  Understanding your goals will go a long way in helping you decide what type of silver to buy, and where to buy it from.  A first time silver buyer may be attracted to its shiny and alluring profile, but I find that this reason quickly changes into that of investment and security.

Collector Buying

There are typically 2 types of people that are actively purchasing silver.  The first type is the collector. The collector will buy silver for the reason of owning a certain silver coin, silver bar, or silver round due to its scarcity in circulation.  The more rare  a piece of silver, the more valuable it tends to be within the collectors universe.  These sought after silver pieces are typically older pieces that get passed down within families for generations until it gets lost or sold.  A collector must do a lot of homework to find the piece that rounds out their collection.  Yard sales, flea markets, and online sites are the 3 main avenues for finding such pieces.  The collector must also make sure that the silver they are buying is real, and they must be careful not to pay too much for it.  On the flip side, a collector might be willing to pay a great deal of money over the intrinsic value to aquire a piece that completes his / her collection.  I would not recommend that first time buyers of silver dive into the world of collecting until they totally familiarize themselves with all the nuances of the silver world, and how it works.

Investment Buying

Buying silver for investment and protection purposes is the number one reason for my accumulation of physical silver.   Knowing that every ounce of silver that I buy directly affects my economic situation for the better, gives me great piece of mind.  About 95% of silver buyers fall into this category of buying for protecting their financial health.  With all the currency turmoil around the globe, the educated money is flowing into silver.

What Kind of Silver Should I Buy?

When deciding which form of silver to buy, you should take into consideration how you will store, or hide, your silver.  The most common forms of physical silver are bars, silver coins, and silver rounds.  Most investment grade silver in these forms are .999 fine silver.  I recommend to buy any and all of these types!  Bars tend to stack nicely, rounds and coins tend to come in tubes for easy storage.  There are many mints, or hallmarks,  that offer silver bullion products.  Usually, the name of the mint has a lot to due with it’s value.  The more popular the brand, the more easily you can sell that piece when the time comes.  Some of the more popular and trusted hallmarks are Johnson Matthey, Englehard, A-mark, Scottsdale Silver, PAMP Suisse, APMEX, SilverTowne.  When it comes to coins and rounds, I would insist that you start off buying U.S. Silver Eagles.   These  are the official $1 minted coins of the U.S.  Because they are $1 coins, they actually can be used as legal tender.  They are a great investment vehicle because they are known around the world, and there are only so many minted every year, creating demand.  Due to there limited availability, Silver Eagles fetch a premium, or fee above cost to purchase, but can resold almost instantly anywhere around the world.

Where Should I Buy Silver

There are several avenues that I would suggest for buying silver.  If you’re interested in just picking up a couple ounces at a time, then your local flea market, or coin shop might be your best bet.  The problem with these sources is that the physical silver market is really tight, thus these dealers might not always have any in stock when you’re ready to buy.  I’ve personally found this to be the case very often, and it can be very frustrating.  Also, the selection these retailers have at any one time is usually sub par.

Buy Silver Online

Buying silver online is an easy and convenient way to do your investment shopping.  There are numerous bullion dealers online ready to service your silver needs.  These online dealers offer a great selection of silver bars, silver coins, and silver rounds from around the world to choose from.  From the convenience of your living room you can browse , buy silver, and have it shipped directly to you.  The online process is super fast and easy.  This is also a great place to buy when you’re looking to buy in bulk, or large quantities.  Just make sure to research the company before you buy, because not all dealers are created equally.  For those of you that may not have a lot of time to research companies, I’ve taken the liberty of writing a review on 4 of the most trusted online dealers.  You can read these on my Review page , or just click on the company below and it will take you right to their review.

CBMint Review

JM Bullion LLC Review Review Review

Precious Metal House Review

Thanks again and happy hunting!

Jimmy H.