Thinking About Buying Silver?
With all of the economic difficulties the average person is faced with these days, it is difficult to find a good investment that is not filled with risk, and also has a decent chance of growing at the same time. For many people, silver bullion offers the safety of an inflation hedge while at the same time, the price of silver is rising. But before you rush out to buy silver, there are a few things to consider.
Different Ways to Buy Silver
You can buy silver in many different ways, both physical silver and also non-physical silver. For owning physical silver, there are old silver dollars, junk silver coins, silver rounds, silver bars, and silver bullion coins. You can also benefit from the rising price of silver without ever having to take delivery of an actual product if you purchase silver mining stocks or silver backed ETF accounts.
What are the advantages and disadvantages of each product? Well for starters, any older silver coin will require that you have some knowledge about rare coins in order to properly determine its value. Such older coins are classified as numismatics, and it is dominated by coin collectors who do it as a hobby or special interest more than for investment purposes. If you buy silver bullion items like coins, bars, and rounds that are minted from .999 and above fine silver, then you are purchasing investment grade silver that derives its value from the spot price of silver. These are investment-grade products that are also suitable for IRA and 401K plans.
What are the advantages and disadvantages of each product? Well for starters, any older silver coin will require that you have some knowledge about rare coins in order to properly determine its value. Such older coins are classified as numismatics, and it is dominated by coin collectors who do it as a hobby or special interest more than for investment purposes. If you buy silver bullion items like coins, bars, and rounds that are minted from .999 and above fine silver, then you are purchasing investment grade silver that derives its value from the spot price of silver. These are investment-grade products that are also suitable for IRA and 401K plans.