Saturday, October 4, 2008

Buy Silver Online

Many people buy silver online. With the established use of the internet this has become the easiest way to buy silver for anyone around the world and certainly in the western countries.

There are some important points to keep in mind when you buy silver online however.

Firstly deciding what type of silver to buy. One can buy silver theme coins, which are most attractive and good for the hobbyist or collector. These are very nice and certainly attractive but they are not for the serious silver investor as the cost is far above the value of the silver and the time it would take to recoup ones cost is far too long.

Or one can buy silver bullion in the form of American Eagles or Canadian Maples and Chinese Pandas for example. These are a better investment and silver buy as the premium is somewhat less and the demand is there for those kinds of silver coins. But the best silver to buy is silver rounds. These are silver coins manufactured by private mints as distinct to government mints and are different in that they are not legal tender as government produced silver coins are. These tend to be cheaper as less ornate and you don’t have to pay for such high quality stamping such as in proof coins for example. One is, after all. Only buying silver coins for investment value not as a hobbyist collecting coins because they are pretty.

There is also silver bullion in the form of silver bars. Here there is a selection of silver bars from one ounce through to many ounces and kilos. The smaller one and ten ounce, and even one kilo, can be easily bought and sold. The larger bars, such as the 15 kilo bar for example may suit but it is a harder bar to buy and sell due to the value being so high and, with the expectation that silver is going to go up markedly in the not too distant future, may be a lot more awkward to buy and sell.

When you buy silver online, as well as the premium, you do have to consider other factors, shipping, insurance and possible resell costs. Also secure storage, particularly if you have a number of silver bars or silver coins to keep.

Another important factor is knowing who you are dealing with when it comes to silver dealers. Doing due diligence on any dealer you would like to buy silver from is very important. Who are they? Where are they? Are they contactable easily by phone? How do they want to be paid? What is their return policy? Such questions need to be answered before one buys silver from a dealer online.

One method of avoiding such concerns as the above is to utilize a system such as (see video below). Here one can buy silver online by opening an account at and buying silver for premium, have it stored in special bank vaults in either London or Zurich for a small storage fee and know that it is secure and available anytime to sell if required. This is good if you want the convenience associated with someone else doing the storing and security for you. One can also buy gold bullion and take delivery of 1000 gram gold bullion bars.

But really there is no substitute for having physical silver in the form of small easy to transport and use coins where the quality may not be perfect, but the silver content is. Buying silver online can be a safe and convenient method of stocking up on silver, then, provided one keeps in mind the above points.

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