Consumers Guide to Buying Silver
Precious metals such as, gold and silver are excellent option for those consumers who want to invest in their future. These metals have always held value, though the price does fluctuate, it almost consistently keeps up with costs of day-to-day living. Anyone can buy silver for investing purposes.
It's sold by reputable dealers online and offline. The consumer simply needs to know what he is looking for when buying silver.
Comparing Dealers:
Start that search for a silver investment by researching different precious metals dealers. Despite the daily silver prices, consumers will find that the dealer price varies from business-to-business. Consumers should check prices at each compared to the amount of silver sold and its purity to find the dealer with the best price before they buy silver.
Coins and Bars:
Silver is sold in a variety of shapes and sizes. Consumers on a tight budget can buy one ounce silver coins which are standard currency or even rounds, which are shaped like coins, but aren't considered legal tender. Those with a little more money to invest in the future have the option of purchasing bars of silver in sizes as small as 5 grams (.17oz) up to a whopping 28,349 grams (1000oz). These bars not only make good investments, they are also beautiful when stamped with unique art of each silver manufacturer.
When looking at silver prices, be aware that an ounce of silver is not the same as food ounces. All precious metals are weighed in Troy Ounces. This is about 31.1 grams per ounce of metal. Additionally, a pound of precious metal is 12 ounces in weight. This is different from the 16 ounces per pound used for food or other standard measures. Just because the measurements are different, doesn't mean that the silver is any less valuable. A pound of silver is still a pound of silver.
Authenticity:
Consumers who are buying silver should also check for the Supplier's Stamp of Authenticity. This is a unique stamp pressed into each round or bar of silver that indicates which maker produced the silver. Coins will have the stamp of the governing body that minted them. Silver bars and rounds will also have a stamp indicating purity, weight and a serial number. The purity and weight is important for calculating the value of each piece of silver on the market. The serial number can be traced back to the silver manufacturer and is also good for keeping track of investments.
Consumers need to have a good idea of how they plan on storing their silver investments. Small amounts of silver can be kept at home in a small fireproof, childproof safe. When the consumer begins collecting large amounts of silver, it's time to look into keeping silver at a bank in a safety deposit box or safe depositor for long term storage.
It's sold by reputable dealers online and offline. The consumer simply needs to know what he is looking for when buying silver.
Comparing Dealers:
Start that search for a silver investment by researching different precious metals dealers. Despite the daily silver prices, consumers will find that the dealer price varies from business-to-business. Consumers should check prices at each compared to the amount of silver sold and its purity to find the dealer with the best price before they buy silver.
Coins and Bars:
Silver is sold in a variety of shapes and sizes. Consumers on a tight budget can buy one ounce silver coins which are standard currency or even rounds, which are shaped like coins, but aren't considered legal tender. Those with a little more money to invest in the future have the option of purchasing bars of silver in sizes as small as 5 grams (.17oz) up to a whopping 28,349 grams (1000oz). These bars not only make good investments, they are also beautiful when stamped with unique art of each silver manufacturer.
When looking at silver prices, be aware that an ounce of silver is not the same as food ounces. All precious metals are weighed in Troy Ounces. This is about 31.1 grams per ounce of metal. Additionally, a pound of precious metal is 12 ounces in weight. This is different from the 16 ounces per pound used for food or other standard measures. Just because the measurements are different, doesn't mean that the silver is any less valuable. A pound of silver is still a pound of silver.
Authenticity:
Consumers who are buying silver should also check for the Supplier's Stamp of Authenticity. This is a unique stamp pressed into each round or bar of silver that indicates which maker produced the silver. Coins will have the stamp of the governing body that minted them. Silver bars and rounds will also have a stamp indicating purity, weight and a serial number. The purity and weight is important for calculating the value of each piece of silver on the market. The serial number can be traced back to the silver manufacturer and is also good for keeping track of investments.
Consumers need to have a good idea of how they plan on storing their silver investments. Small amounts of silver can be kept at home in a small fireproof, childproof safe. When the consumer begins collecting large amounts of silver, it's time to look into keeping silver at a bank in a safety deposit box or safe depositor for long term storage.
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