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Price Of Silver Per Troy Oz

The troy oz is used as a measure for trading precious metals and gems.  One troy ounce = 31.10348 grams. One kilogram is approximately equal to about 32 troy oz.  The troy ounce is slightly different from the more traditional ounce that is used in UK and the US.  The ounce is slightly heavier than the troy ounce, with one troy ounce equaling 1.097 oz.  One can know the price of silver per troy oz, per ounce, per gram, per kilogram and also in terms of various currencies such as the dollar, the yen and so on.

Silver- which denomination to buy

Due to the skyrocketing price of silver per troy oz today, many investors are investing in bars, rounds, coins and so on.  The cheapest and best way of investing is in the form of 100 ounce silver bars.  However, take care to buy it from an established dealer or directly from the refinery.  This will make it very easy for you to cash it whenever in need almost anywhere in the world.  It is safer to take personal delivery of the silver and also store it safely.  There are many companies that offer to story silver bars, but one must ascertain the authenticity of such organizations.

You can even buy the ten ounce bar or a one ounce bar, but the price of silver per troy oz in this case will be higher due to a heavier mark up and this has to be covered before you start making your profits.

Collecting silver coins

You can also collect dollar coins as there are various nice coins where the price is quite moderate and you can build up a good collection in no time.  These are available in the form of silver eagles which can be obtained from many dealers.  This is usually made of 90% silver and about 10% copper in order to make it stronger and more durable.   The actual silver weight of silver in this will be only .7736 troy ounces. Nowadays, coins are being produced with 99.99 % silver.  Since these are of the Brilliant Uncirculated type, much durability is not required.  Make a good survey of the coins available and the price of silver per troy oz before buying these coins.  There are hundreds of coin types ranging from the 1804 coins to the latest issues and the price of silver per troy oz also varies with each type of coin.

With the ever increasing value of silver and the price of silver per troy oz increasing on a steady basis, collecting any kind of silver whether bars or dollar coins will certainly prove to be a valuable asset.

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Price Of Silver Per Troy Oz

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