Buy Cheap Silver

Now is always the time to buy cheap silver.

The real price of silver is likely to increase as the demand increases and the economy becomes more and more uncertain. So it is a good idea to buy silver on a regular basis. This way, the price you pay for silver evens out over time and becomes the cheapest way to buy silver. Silver is very much in demand and the price is likely to increase over time. But whatever the price, the cost of the silver will always average out in regular long term buying.

Of course, the more you buy at any one time the less the premium, dealer costs and shipping you have to pay for and the closer to the spot price you will pay. The spot price is the listed current rate for silver on the exchanges and is called the comex price(Commodity Exchange, New York - the spot price you see daily). However, keep in mind that the price for actual silver can be different to the spot price depending on the amount of silver available. Currently the spot price does not reflect the demand for silver which is higher and you can expect to pay more for actual silver than the spot price.

One can buy cheap silver bullion in the form of coins and bars. Having some coins to sell means that one can sell small amounts of silver as needed without having to convert large bars if one wants to sell silver quickly. But having the larger bars is also a good idea as a safe haven for storing ones assets. Conversely you can sell silver for more than the spot price as the demand is high. This is important if one needs to sell silver in times of need.

But to buy cheap silver you have to take into account the entire cost you pay for silver. The cost of the silver itself, the premium, dealer charges, shipping insurance, all play a part in the overall cost.

One should always you buy silver from an authorized mint or dealer so it pays to do some informed study and research to find out all about the dealer you are buying from. Are they a bona fide dealer? Are they easily contactable. What are their terms of service etc.

Spending some time doing good research and study, doing some due diligence and searching around among the dealers. This is the best way to buy cheap silver.

Silver Coins to Buy

It is important to know which silver coins to buy.

But which silver coins should one buy? There are many different types of silver coins and depending on why you buy silver coins will determine the type of silver coins you buy.

If you are a collector or a hobbyist then the regular output of 'theme' coins or silver proof coins might be to your liking. They are very picturesque and with a limited mintage of each could be worth something in a few years. But the premium on them really makes for a poor investment in terms of retaining asset value and potential saleability later down the track.

Canadian Silver Maple Leafs, American Silver Eagles and Australian Kookaburras and the like are a better option but again, the premium is high, and these days you have to search around and pay well over the spot price due to the current shortage. These sorts of coins are expensive due to the amount of work and attention to detail that has gone into them. They are usually proof and will have been struck a few times to get that particular look which proof coins are known for. They also come in an expensive presentation case (the cost of which is also incorporated in the price) and which you pay for.

In fact the US and some other mints have stopped or limited the selling of their traditional silver coins. These coins may accumulate more value as a result but there could be a long wait before one recoups the premium one has paid for such coins.

By far the best silver coins to buy are silver rounds. These are coins or rounds (coin shaped) manufactured by private mints such as North West Territorial Mint, Engelhard or Sunshine Mint for example. The premium for the coins is a lot less as there is no expensive striking and no fancy presentation case to pay for. These are not so pretty perhaps and are not legal tender but they do contain the most important part of a silver coin from the viewpoint of an investor. One ounce of pure silver. Ideal if one wants to buy silver coins.

As such they can be easily stored to accumulate more value over time yet traded on a one by one basis and used in times of economic stress.

So if you want to buy silver coins as a safe haven or for investment purposes the silver coins to buy would be silver rounds.

Buy Junk Silver Coins

A smart way to buy silver is to buy junk silver coins. Junk silver coins are another name for the US coins minted prior to 1970. These coins contained silver and today’s modern circulating currency do not.

Up to 1964, silver coins had a silver content of around 90 percent with the balance being copper to improve durability. From 1964 to about 1970 the silver content was reduced to around 40 percent and from 1970 no more silver coins for circulation were produced.

With junk silver coins the value is in the silver not in the presentation or look. The condition of the coins therefore is not as important as these are not really collectors or numismatic coins but held purely for their silver content only. In other words, the silver content in these coins is worth more, these days, than the face value of the coin.

The silver price has improved over the years and, as silver is in very short supply, looks set to continue to increase over the coming years. This makes junk silver coins very valuable as an asset.

The silver content of each type of junk silver coin varies depending on the type of coin. Here is a list of the major junk silver coins to buy.

Silver dollars contain 0.77344 Troy oz. silver content
Half dollars contain 0.36169 Troy oz silver content
Quarters contain 0.18084 Troy oz silver content
Dimes contain 0.0723 Troy oz silver content

It is easy to buy junk silver coins as many dealers have them.. They are usually sold by the bagful and the price is based upon the silver content and a premium for the dealer of course.

There can be some wear and tear on the coins, scratches, nicks and on many the face will be worn, but provided the silver content is there they have a useful value and are something that could be sold or traded in times of need to obtain ready cash.

If one has a large silver bar then the entire bar has to be sold to obtain cash for that silver. Junk silver coins, on the other hand, are useful in that one can sell or trade in any quantity according to the needs of the seller. One coin perhaps or maybe a whole bag full.

So, one very useful way of preserving assets to use at a later date in these economic troubles times is to buy junk silver coins.