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The Price Of Silver

Investing in Silver

Today the price of silver makes it the most attractive of investment among the precious metals.  Moreover, it is predicted by experts that the price of silver is going to steadily rise in the coming years.  There are many ways in which you can buy silver as it is available in various denominations such as 1 oz, 100 oz and even 1 kg silver bars.  You can even invest in silver rounds.  However, mint coins are quite expensive as there is premium or a markup which is above the spot price of silver.  It will, therefore, take some time to start making profits on the investment.

Silver Certificates

It would be wiser to invest in bars, preferably the larger ones, where there is less premium above the price of silver.  You can also go for certificates or exchange traded funds.  Here the cost of purchase as well as selling it is better as there is no need to take delivery or store it.  The selling is also done through paperwork basically.

The flip side to buying ETFs is that there are tax considerations.  These kinds of purchases of silver are considered an investment and hence will incur capital gains tax plus some other additional taxes.

Coins and Bars of silver

For those who would like to buy coins or bars and enjoy the collection merely as a hobby rather than for an investment they can collect various types of coins.  Over time, these too will escalate in value. Some of the best coins available today are the American Silver Eagle which is pure silver. The face value or the price of the silver per coin will not match its silver content.  The price of silver in this case will be slightly higher due to a premium.  You can also purchase silver rounds from the US Territorial Mint which is available at a low premium above the price of silver.

Buying silver at auctions

There are many who buy silver bars at auctions but here it would be a good idea to buy 1 to 10 ounce bars. 100 ounce bars can also be fake sometimes as it is easy to drill holes and fill it with lead and then cover it up with silver.  One cannot detect this without cutting through the silver bar.  Smaller bars are safer in this aspect hence a 10 ounce bar would be better.  You can purchase pure silver 999 % fine which are made by mints either in 1 ounce coins or bars with a range of 1 ounce to 1000 troy ounces.  After making a check of the price of silver, one should also check out the hallmark of purity as well as the weight of the coin.

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The Price Of Silver

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