How to Buy Silver Online

Buying silver online is something that should be approached with caution, but not with fear. It is normal to feel overwhelmed by the sheer variety of options that are available to you when it comes to purchasing bullion online. The fact of the matter is that buying silver online is almost identical to buying any other item on the internet. If you do not understand the difference between how silver works and how stocks work, that is a pretty common area of confusion. Even though silver bullion has a ticker price that runs across TV screens much in the same way as stocks, they are not quite the same.

Silver varies from stocks in companies because it can be obtained in physical portions. With a stock, you have equity in a company, but you do not hold anything in your hands. As a result, buying silver means that you will place an order from a company or dealer and have the bullion itself mailed to you. You do not have to get involved with stock brokers or anything of the like at all. I know when I first considered buying silver, I was unsure where to start. With the advent of the internet, however, it couldn’t be any easier.

Decide What You Want to Buy and How Much to Pay

If you are already familiar with silver metal to one extent or another, you may already know what you are looking for. If you are not, the best course of action is to either start of small or to diversify in your order. Unless otherwise noted, every piece of silver will be sold by the oz. Now, the oz. is weighed according to purity. In virtually every instance, silver is produced with .999 purity. You will always be purchasing pure silver unless you are buying what is known as “junk silver.” Junk silver are coins that are made up of 30%, 40%, and other random amounts of actual silver. Though sites do have these available for sale, these are not the ideal item to buy.

The most common purchases, for new and experienced buyers alike, are bars, rounds, and coins. Coins will carry slight premiums over the spot price of silver, but that is due to their collectible value. If you ever wanted to sell back these coins, you would almost certainly recoup the extra money that you spent, and there is a good chance that you will also generate an added profit. If you are more interested in buying pure silver and do not want collectible items, bars and rounds are the way to go. These items are simply silver that is melted and minted by private minting companies. Their worth is equal to spot price. These products will give you the best overall bang for your buck.

The pricing of these items will be a few dollars over the spot price of silver. For example, if the spot price of the day you are shopping is $x, a generic bar would likely cost around #x+$3 per ounce. The added price over spot is what allows the dealers and companies to make money. With coins, the price over spot will be higher because of the demand from collectors. Anything under $5 over spot is reasonable when considering price.

Where to Buy Silver Online

Once you have decided what you would like to buy, or given consideration to the different items that are available, the next step is to then find a dealer to order from. Online silver dealers are plentiful, there is no doubt about it. We at promote a handful of the premier silver and gold dealers to help point buyers and investors in the right direction. So long as you follow our links and ads, your money will be in safe hands. Security and safety is undoubtedly a primary concern among silver buyers, and we aim to ensure that you complete your order without a hitch by promoting the most reputable silver dealers in the industry.

After you buy from an online company, the only thing that you need to do is wait back for your order to be delivered. The metal itself will be shipped from the company right to your door, at which point you will be able to do whatever you would like with it. You could store in in your room, put it in a bank safety deposit box, or anything else that you could imagine.