Silver is one of those age-old commodities that many consider investing in because of its stability compared to other volatile investments.
Arguably, when considering buying silver, the best way to do so is to own it physically, rather than investing in the market. But what are the options for buying real silver? Does it come in different forms?
Well, here is our comprehensive guide for buying silver the right way so that you can invest in your future securely.
Ways of Buying Silver
There are two main options for buying silver: in its physical form or through the markets. Within each of these options, there are also different forms and methods of purchasing silver too.
If you’re buying silver bullion, different forms include:
- Silver coins
- Silver rounds
- Silver bars and ingots
If you want to buy through the markets you can:
- Buy silver mining stocks
- Purchase silver future contracts
- Invest in a silver exchange-traded fund (ETF)
How to Buy Physical Silver
In this guide, we are going to avoid the market buying options.
It is widely thought that buying silver bullion is one of the best ways because you can own it yourself. You’ll have tangible control over your silver, unlike when you buy into it through the markets.
So here are some tips on how to buy silver in bullion form.
There are a few different forms of silver as we’ve just mentioned, and we’ll start with silver coins. You might not be familiar with the silver market, but at one time you might remember even using silver coins.
In 1965, the US government started phasing them out of the money supply because the value of silver was rising too much to represent the actual value attached to the individual coins.
So now, silver coins have become a very viable way of owning silver. And there are 99.9% silver coins available from the United States Mint.
But there are also silver bullion coins available from around the world. It’s a huge market to get interested in.
These look like coins but have never been monetized. Silver rounds seem to be a novel way of forging silver into an attractive collector’s item. These rounds come with unique and attractive artistic designs and detailed info about their standardized size and weight.
Silver Bars and Ingots
If you’re not so bothered about artistic designs and coins, buy silver bars or ingots and you’ll have silver in its purest commercial form.
Since you are just buying the commodity, it is likely to be sold very close to market prices. And buying silver in this form is probably the cheapest way to do it.
Where to Buy Your Physical Silver
The United States Mint is a good place to start to get silver coins. They have a massive selection of different silver version coins that have been taken out of circulation. Plus, they have some nice commemorative options.
If you’re after silver bullion, you’ll need to find some trusted dealers, as the US Mint authorizes them. Unfortunately, banks do not deal in silver anymore. Instead, all it takes is a little research online, and you should be able to find what you’re looking for.
The Silver Lining
Buying silver in its physical form is probably the best way to invest in this ever more lucrative commodity. There are a few different forms in which you can buy it, but if you don’t want to delve into the depths of the collectors’ realm, it’s probably best to opt for plain bars and ingots.
On the other hand, we think one of the more exciting ways to buy silver is to collect silver coins on a monthly basis. Not only will you be investing in your future, but you’ll be able to see new silver bullion coins from around the world!
We hope we’ve now given you some good ideas on how to buy silver. Good luck!
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