There has never been a better time than now to invest in silver bullion or silver coins. Learning how to invest in silver bullion can be done just by reading this article. Its that simple. There are just a few things to know and consider when investing in silver or any other precious metal. I will give you enough knowledge that you can start investing in silver immediately once you find a trustworthy source.
What is Silver Bullion
Silver bullion are silver bars and silver wafers.
What are Silver Coins
Silver coins are coins that are silver.
Silver spot price
Silver like other precious metals including gold, platinum and palladium all have a spot or market value per ounce that fluctuates up and down on a daily basis. You can check stock market listings to see what the market price is per ounce or find a precious metal store online. Some banks have precious metal stores. You can even purchase silver on EBay but I would stay away from purchasing silver from online auction websites until you are really familiar with how the buying of silver works. Check for silver at coin dealers and brokerage houses.
The great thing about investing in Silver is that the spot price per ounce is quite a bit cheaper than buying gold per ounce. Silver fluctuates anywhere around $30 to $34 an ounce currently where an ounce of gold will cost you around $1,800. So you can see that you can invest small amounts to buy silver and actually end up with something substantial where if you were to go the route of investing in Gold unless you have a lot of money to invest you wont have much to look at after your purchases.
So when you are looking to invest make sure you know the spot or market value per ounce before buying silver so you know you are getting a good or fair deal.
Should I buy Silver Coins or Silver Bullion
Now that you know to watch out for the spot price you should now decide on what format you will buy silver in. Will you purchase silver coins or will you purchase silver bars? Maybe you want to dabble in both. Some people like to collect the different size and styles of silver coins on the market where others are into silver investment purely for an investment.
If you think you will be buying coins to collect and showcase you should know that coins are always going to cost you a bit more for the minting of the coin. It is usually a flat rate right across the board on a suppliers inventory of silver coins. The rates are commonly .50 to $1.50 per coin and or ounce. Some investors start collecting bars and wafers and end up buying coins for the collectability and fun of it.
If you want more bang for your buck and want to invest in silver bullion to earn money from your investment then you will want to purchase silver bars and silver wafers depending on what you can afford. Silver bullion is always cheaper than buying silver coins and I am not sure if it is because of the minting or not because once you create a mold it should cost the same to mint a 1 ounce bar or wafer of silver as a 1 ounce coin of silver.
My recommendations for investors is to start with bars and wafers and for collectors/investors start with coins.
How much should you invest in Silver
As mentioned previously one of the great things about buying silver as an investment is the low cost per ounce of this precious metal. Silver is by far the best precious metal to invest in if you are looking for the opportunity to make some serious money.
To start off you can buy as little as 1 gram of silver but I think you will want to at least invest in an ounce or 2 to get you started. If you purchase a couple of ounces each month for the next 5 or more years all of a sudden you have well over 100 ounces and if the price of silver shoots up drastically you stand to make a ton of cash by investing .
If you are going to take my advice on how to invest in silver bullion then I know you will be successful and over time will make a good profit on your investments.
Other fees to consider
When buying silver from a brokerage house, bank, or other silver supplier that you invest online with make sure to find out if there are any admin fees or shipping and handling charges you need to take into consideration when making your purchase. You could run into a situation where you are going to be charged an admin fee and a shipping and handling charge on your purchase. You have to decide whether the investment is worth the extra charges.
Once you understand the value of silver you can make better investment choices.
When dealing with places like coin dealers the cost of their coins bars and wafers will probably be more than the cost of silver coins and bars you can order online. When looking at a coin dealers prices take into account that they probably paid admin fees and or shipping charges to get the silver to their store. Also take into consideration what you would pay for final price of the item when ordering online versus the coin dealer to see what the better investment is.
Learning how to invest in silver is easy if you take my advice. Good luck with your purchase of silver.