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How do I Buy Silver?

Article Details
  • Written By: Patti Kate
  • Edited By: W. Everett
  • Last Modified Date: 20 June 2018
  • Copyright Protected:
    2003-2018
    Conjecture Corporation
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There are many ways to buy silver, depending on whether you buy as a collectible hobby, for profit, or both. Silver may be collected in various coin denominations. Buying silver jewelry is another option. Regardless of what form of silver you buy, always buy from a reputable source.

If you buy silver online, use caution. One can easily be deceived when making purchases over the Internet. In some cases, the description may differ somewhat from the merchandise you receive. If you decide to buy silver online, ask for some type of warranty or certificate of authenticity (COA). Genuine silver coins will typically come with a COA. Look for items that are signed and dated.

Silver precious metals, such as neck chains, bracelets, or rings should be purchased from a reputable jeweler. When buying used silver in any form, be sure tarnish is removed so you may see the details. Silver polishing solution should remove smudges and grime.

After it has been thoroughly cleaned, have an expert examine the piece under magnification. It should be examined for flaws, such as deep scratches. Any permanent marks will typically lower the value of your silver.

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For investment, you may choose to buy silver as an American eagle or a solid silver bar. Finding a silver bullion dealer may be a good option. Check your local phone directory for dealers in your area. In addition, you may want to do online research to learn the best options for purchasing silver.

Although you may be tempted, resist any offers to buy silver that appear too good to be true. Be especially skeptical of television commercials that offer "unbeatable" deals. Rarely can you find a good investment from a media advertisement. Although the ads may claim these pieces are limited editions, this may not be the case.

If you plan on ordering from a dealer and having your silver shipped to you, check the estimated shipping times. As a rule, the faster your silver is shipped, the less likely the dealer will go out of business while you wait for your items. Be sure there is a telephone contact number for customer service.

Lastly, research everything you can about values, commodities, and the silver market in general. Educating yourself is imperative before making your silver purchase. Speak with experts and ask for advice. Find more information at your local library, as this could be a good resource.

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