As global interest rates fall and the price of gold continues to increase, many people are looking to buy silver bars. The sometimes overlooked precious metal, has market watchers seeing a positive future. However, if you’re not quite sure about silver bars, we’re here for you. At Boston Bullion, we can offer you our years of knowledge and expertise when it comes to buying silver and the details you should know.
Often referred to as “poor man’s gold,” silver is more volatile than gold because of its diverse functionality. However, many people today are rethinking this phrase and considering silver the better investment. Whether you’re growing your portfolio or utilizing the metal for industry purposes, silver is the affordable option with an upward outlook. To put the comparison in perspective, it’s said that it now takes 93 ounces of silver to buy one ounce of gold. Not since 1990 have we seen the price difference between the two metals so vast.
Where to Purchase
One of the easiest ways to buy silver bars or coins is through your local coin dealer. However, doing your research is an essential step in locating a reputable dealer. One of the first things you should look for if researching online is whether or not your bullion dealer has up to date pricing readily available. Sources such as the London Silver Fix will update pricing twice daily to keep buyers in the know. Many dealers will update their sites to keep the most recent news available. Having this information at your fingertips allows you to make smart purchases knowing the current baseline price.
Bars versus Coins
When buying silver, coins and bars are the two traditional, and easiest, options available. Between the two, bullion bars will have the least amount of added premium. Silver coins will have a higher premium because of the labor that is involved in the creation. Bars are created by merely pouring silver into a mold. Whereas coins involve making the coin, stamping, inspecting, and special sealing into a protective casing. Coins can also have an added markup if they are a limited or special edition, such as the recently released Apollo 11 50th Anniversary silver dollar.
Variety of Options
Now that you’ve decided to buy silver bars, the options are endless. In fact, silver bars are offered in a variety of sizes ranging from 1 gram to 1,000 ounces; one of the world’s most extensive ranges. The larger the size of the bar, the lower per-ounce production, or premium, cost you’ll face. The size will be stamped onto the bar along with the purity. Other details to inspect are scratches and dents if you’re purchasing second-hand silver bars.
For more information on buying silver bullion, contact Ken at Boston Bullion. Backed with the experience and honesty you’re looking for, make Boston Bullion your one-stop Burlington coin shop. Call today to schedule your appointment at (781) 710-8419 or send us an email at firstname.lastname@example.org.