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Have you considered the benefits of owning silver bullion?
If so, you’re probably confused as to where you should buy silver. Buying silver requires you to get the best deal on premiums. You also want to be able to accumulate both silver bars and silver coins.
So where’s the best place to buy silver to accumulate your wealth in the long run? How do you find the best place to buy the best silver bullion?
Here’s what you need to know:
Look at Premiums
The first step for investing in silver is to find the lowest premiums possible. The premium is the commission fee that’s added to the spot price of silver bullion.
Let’s suppose that the spot price of 1 oz of silver is $20. If you find a silver coin for $25, then the $5 is the premium that you’re charged on top of the spot price.
You want to try to find the lowest premiums possible. This isn’t the only crucial factor for buying silver. Nevertheless, it’s always best to spend less money to buy as much silver as possible!
Brands and Variety
The next things to consider are the brands and the variety of options available for buying silver.
The best brands are from the official mint of the country. You can look at the U.S. Mint, Royal Mint, Royal Canadian Mint, Perth Mint, etc.
Many notable private mints have garnered a great reputation over the years. These include PAMP Suisse, Valcambi, SilverTowne, and Engelhard.
You want to choose a retailer that offers a great selection of silver bars and silver coins from a variety of brands. You also want to be able to buy a variety of designs for your silver bullion.
For example, you should be able to buy US Silver Buffaloes, South African Krugerrands, and a Queen’s Beast design for your silver bullion from the same retailer.
Silver Bars and Silver Coins
The final factor is to look for a retailer that lets you buy silver bars and silver coins.
To preserve your wealth through silver bullion, you want to have a supply of both types of silver. Silver bars are great for accumulating weight.
You can buy 1 silver bar that holds 10 ounces of silver bullion. This is often best if you want to sell your silver to a large industry.
Silver coins are ideal for making quick transactions. If you wish to trade silver or use it as a form of currency, then silver coins are your best bet.
That’s How to Find the Best Place to Buy Silver
Now you know how to find the best place to buy silver and can start preserving your wealth with precious metals!
The first step is to find a retailer that offers low premiums whenever possible. This lets you accumulate more silver bullion at a fraction of the cost.
The next step is to look for a retailer that offers silver bullion from a variety of brands. Make sure you also choose a retailer that sells both silver bars and silver coins.
You can learn more about buying silver on our blog!