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Here is a blog post about ‘How To Buy Silver’ that also has a video for you to look at in case you don’t want to read the article. The video is the same as the article. Personally I’d rather watch the video especially since it’s the same content. Enjoy.
How To Buy Silver
Similar to gold, investing in silver has different forms, and it can be bought in many different ways.
Two main ways to buy silver would be by buying the physical metal, or you could purchase a financial security which moves with the price of silver.
Silver can be bought in coins, bars, and even rounds. But before buying silver, you need to understand why do you want to buy silver.
You can also buy silver as a piece of jewellery, or if you’re more serious about it – buy silver in ways to profit from it.
How To Buy Silver
There are two ways to buy silver.
You can buy real silver, or you can invest in silver without physical ownership.
If you plan to invest in real silver, you should be careful. The value of silver is determined by trading on the COMEX market.
The first thing you should do is determine which type of silver you would like to buy.
Then you should find a good dealer who you could trust. There are a lot of scams, and it’s easy to avoid scams through simple internet research.
It’s not a lack of resources that people have a problem with, it’s a lack of their resourcefulness.
~ If you don’t want to read the article, we’ve made a short 3 minute video about: How To Buy Silver.
The best way to find out the market value would be by going to a reputable financial page on the internet, and you can find out what an ounce of silver is selling for. Always check the value of the silver spot price yourself, so that the deal you’re contemplating won’t turn out to be a dud because you payed too much over the actual ‘spot price’ of silver. Keep in mind they have to make a profit. You just don’t want to make a house payment for them.
Kitco.com is a great resource to use. You can find out what gold, silver, platinum, copper, oil, and currencies are buying, and selling for. These spot prices gives you an upper hand when negotiating prices whether you’re buying or selling.
When you’re trading silver, you can always negotiate the terms of trading between the seller and you. You can discuss things such as numismatic and raw values for silver. You can also see if there will be any extra premium fees, and discuss if the seller will purchase the silver back from you if you ever decide to sell it.
You could scrap silver, or buy silver coins, bars and rounds. These are the most common silver options to choose from when you want to invest in real silver.
However, if you decide to buy silver without physically owning it, I would recommend you look into an exchange-traded fund (ETF). It will track the index or commodity of silver but it’s traded like a stock. You don’t physically hold the metals. It’s paper trading of contracts.
Keep in mind that owning silver physically is much different than holding a piece of paper. Same as gold, silver can be used as a hedge against economic uncertainty. But keep in mind that the silver market can be very volatile, and it can, and will take you on a rollercoaster ride at anytime.
Since there are many ways on how to buy and trade silver, a new or average investor can get easily confused.
There are many options, and in the end you won’t even know how to approach the market. That’s why many people don’t even try to buy silver. Mostly because of the fear, and their lack of understanding.
Physical silver isn’t just considered as an investment. It’s can be used as a hedge against economic uncertainty.
If this is your first time buying silver, maybe buying real silver could possibly be the best way to start, and then see how it goes from there.
~ This video, and or article are for educational, and entertainment purposes only.
It is in no way giving you financial, or investment advice.
Always contact a professional for that.
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