We are living in a world that is still recuperating from the after effects of global recession. People have realized that inflation can easily erode the purchasing power of the cash they have. This has led to increased investments in the precious metals market. Gold prices have been soaring high for quite some time now, and purchasing gold bullion might not be affordable for a lot of people. Silver is a good investment option in these circumstances. Because of that, now is the time to buy silver online.Click Here to buy silver bars
You may be tempted to buy silver jewelry or coins, but the best way to invest in silver is to buy silver bars, or as they are sometimes called, ingots. With the global accessibility of the internet, it is very easy to buy silver bars online now.
Things to keep in mind while buying silver online
Silver can be bought online through many sites. You can go to the websites of mints or manufacturers to buy silver bullion bars online. As storing large quantities of silver is difficult and poses security issues as well, there are a number of sites that help you in buying as well as storing the silver.
You can also buy silver bars on sites like eBay. Auction sites can be a good option to buy popular bars like Engelhard and Johnson Matthey bars. These bars are not being produced anymore and cannot be purchased directly from the manufacturer. But, you might be able to buy silver bar from these manufacturers on such auction sites.
Buying silver online is a very simple task but you need to remember certain things to make sure that you do not face any difficulties. Here are a few tips that will help you purchase good quality silver bars.
Keep a check on the spot price: The base price of silver, called the spot price, keeps varying frequently. But to get a good deal, make sure that the silver you buy does not have too high a premium over the spot price. One of the best options for this is the reliable online silver dealer, JM Bullion.
Purity of silver: Your investment in silver will help you only if you invest in 99.9% pure silver. Make sure that the silver bars you are purchasing have the information regarding the purity and weight stamped on them. Buying bars from brands like Johnson Matthey or Wall Street mint is always a good option as you can be assured about the metal’s purity.
Go for basic ingots: Silver bars with intricate designs command a higher premium than plain silver bars. So, you should go for simple silver bars which have low premium and can help you get higher returns.
Size of the silver bars: Size of the bars is also an important factor to consider. Silver bars come in sizes of 1 oz, 10 oz, 100 oz and 1000oz. Silver coins are preferable to 1 oz bars and 1000 oz bars are too big to store. That is why 10 oz and 100 oz bars are usually considered by investors.
Transportation: You should read the terms and conditions of the seller very carefully. Sometimes shipping and security of the bars is not included in the premium and you might have to spend a bit extra. Also, you should make sure that you get a certificate of purity for the bars.
Making sure that the dealer is trustworthy
Here are a few things that will help you in determining whether the online silver dealer is trustworthy or not.
- A good dealer will always have a wide range of bullion to choose from. You will find that a good dealer sells coins, nuggets and other precious metals as well. If a site has only a few coins or bars to offer then you should avoid it.
- You should make sure that the payment process is completely secure. The site should use a 128-bit SSL (secure socket layer) encryption for your financial transactions. Also, you should pay by your credit card for a small purchase, but use checks for bulk purchases.
- Make sure that the online dealer has a reasonable return policy as well. You may be buying the silver bars for investment purpose, but you might want to return them at a later point. Good vendors will allow you to return your bars at a nominal fee.
- You should make sure that the pricing of bars is fair. Silver coins often command a higher premium but bars have a lesser premium. A good vendor will not charge you too much premium for a silver bar.
Silver is one of the best investment options you can make, and buying silver bars online is quite simple. All you need to do is keep the above-mentioned recommendations in mind and you will have no trouble in buying silver bars online.