If you're someone who thinks that silver is a good investment, then you need to decide how it is you're going to invest your money. You can invest in silver by purchasing collectible coins or bullion. Each has its own benefits and drawbacks.
Here is what you need to know about buying silver collectible coins or silver bullion.
Collector Silver Coins
If you want to invest in silver and are a history buff, then think about collecting silver coins. Collector silver coins were used in circulation, as opposed to bullion. There are many different types to research and collect. You can buy Morgan silver dollars from the turn of the century. These coins were minted in five different places (Carson City, New Orleans, San Francisco, Denver and Philadelphia.)
Another great coin to collect is the three-cent piece. These were minted during the late 1800's. Their history is tied up with the great California gold rush. People were hoarding silver coins because the silver content was deemed to be worth more than the face value of the coinage. The government then issued a special coin, the 3 cent coin, which had less silver than other coins which meant that people would not hoard it or try and sell it as bullion. It was instrumental to keeping commerce going during this tumultuous time.
Finally, don't forget the infamous silver Washington quarters. These quarters, whose design is still in use, were originally minted of 90 percent silver. However, there were fears that the mint would run out of silver in the 1960's so the decision was made to change the quarters over to a copper and nickel mix.
You can find these coins online, or even attend auctions and bid on them in person. The one thing to consider is that these coins will often be valued for more than their silver content. For instance, an especially rare silver dollar will sell for more than its weight in silver. So, the price of these coins is not directly tied to the price of silver.
If you're not interested in learning about specific coins, and instead want to simply own silver, then bullion is the way to go. Silver bullion is, essentially, all the same. You can buy silver bullion from different countries, but other than that there is little variation in design.
It doesn't matter what year bullion you buy, or even the design, the only thing that counts is the weight. Silver bullion is sold in three sizes: 1/10 of an ounce, ½ an ounce, and an ounce.
The advantage to buying silver bullion is that it is easy to sell when compared to collector coins. Bullion doesn't have to be examined by experts to determine the exact quality. Minor nicks and scratches won't affect the price, which is not the case with collector coins. It is very easy to price silver bullion because it sells for the current spot price of silver.
Contact a local outlet, such as Gold for Cash, for further assistance.Share