With the recent fluctuations in gold, people are beginning to explore other options. One of the most commonly asked questions we’ve been hearing at Boston Bullion is whether to buy silver bars or silver coins. As a pure metal, you really can’t go wrong with either choice. However, there are a few differences and facts to understand before making the final decision. This article highlights a few of those key points of information.
Believe it or not, when you buy silver bars, you’ll save yourself money. Yes, silver bars are typically cheaper than silver coins. The main reason behind this lies within the labor involved between the two. While bars are cast or poured, coins require more time and effort with striking. Thus, coins become the more expensive, labor-intensive option between the two.
Depending on your intentions, storage may be a consideration when purchasing silver bullion. If you’re looking to trade and remain liquidity on your investment, coins may be the best option. Easily stored and transported, coins are lightweight and ideal for movement. Whereas the heavier weight of silver bars can pose more of a challenge when it comes to transportation. However, research has shown when storing equal dollar values of bars and coins; bars utilize less space.
When purchasing silver bullion, it’s essential to understand the purity. Measured in terms of their purity, silver bars are typically 99.9% pure. This percentage, in combination with weight, is what sets the appropriate price of the bar. Coins, on the other hand, can range from 80-90% pure when minted for general circulation. However, the Canadian Silver Maple Leaf utilizes 99.99% pure silver. Because of the content, the Silver Maple Leaf is among one of the finest bullion coins worldwide; a must for any portfolio.
One of the easiest ways to include silver in your portfolio is to buy silver bars. For more information on the vast inventory at Boston Bullion, contact Ken to schedule your appointment. As a premier Boston coin shop, you will be anything but disappointment in bullion we provide. Call today at 781.710.8419.