How to Buy Silver Online
Published : September 24th, 2012
612 words - Reading time : 1 - 2 minutes
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This guide is for any
potential silver investor looking to buy silver online to protect wealth or
maximize gains.
Although there are
literally dozens of silver products and silver dealers, following a few
simple guidelines will ensure you secure a safe investment and capitalize on
this precious metals bull market to the fullest.
Stick to Stacking Silver
Bullion Products
Silver bullion coins, bullion
bars, and bullion rounds attain their value through their .999+ fine silver composition. By buying highly regarded silver bullion
hallmarks, silver investors gain access to a much more transparent market and
cost effective silver investment.
Government minted silver
bullion coins, particularly American Silver Eagles, are the most acclaimed
and liquid products amongst silver investors.
Silver bullion bars and
bullion rounds struck from widely recognized private mints like Johnson Matthey, also represent a
sizable portion of the silver bullion market, offer low premiums relative to
the Silver Spot Price
.
Inferior Alternatives: Silver
Numismatics, Silver Semi-Numismatics, Silver Collector Coins
Numismatics collector coin markets
lack sufficient transparency, liquidity, and have often left silver investors
with large losses in spite of a rising silver price. Silver investors will
want to avoid "rare" or "collector" silver products.
Many Numismatic And Semi-Numismatic
Coins are heavily marketed through old media outlets (TV, radio, magazine,
and newspaper ads, etc. ). Often times, collector
coin sellers are Large Silver Dealers with call
centers of salesmen utilizing fear tactics and hypothetical confiscation
scenarios to make large profit margins off unsuspecting silver investors.
Terms such as confiscation, rarity, and collector value should wave red flags
to potential customers.
If you have
a specific silver bullion product in mind, do not let a salesman change your
intent and potentially up-sell you into an item unbefitting of your silver
investment objectives.
Avoid all
Paper Markets
Ownership
of paper silver vehicles such as a Silver ETF, Silver Pool, Silver Certificate, or Silver Leverage Account may be
even riskier than not owning any silver at all!
Few funds
actually hold sufficient silver to physically deliver and many are directly
tied to the collapsing financial system. Most paper silver instruments today
are merely tradable time bombs, redeemable in only paper, providing little to
no insulation against a monetary crisis or a major economic event.
Physical
Delivery + Silver Vault Storage Options
Any reputable
dealer should offer both domestic and international shipping options. When
you buy silver online, be sure you are given an estimated date of shipment
within a reasonable time frame. You will want to ensure the products are
fully insured and that you are not held liable until your silver products
have been safely delivered either to your door ( adult
signature required ) or to the vault storage facility of your choosing.
If you
choose Silver Vault Storage option,
make certain the silver bullion is held by a third party in a segregated
account with a proof of insurance. You should also receive a Storage
Certificate Title accounting for your silver holdings.
Payment Options
Most silver dealers will provide
you with multiple methods of payment. Ensure you are able to lock in pricing
the moment you place your order.
Full credit card payment will be
subject to a processing fee, however it will
typically secure your pricing. Most silver dealers also provide a bank wire
option, giving you the ability to lock pricing with a minimal credit card
deposit (5-15%).
Checks and money orders are often
accepted but typically delay the purchase process or escalate the cost of the
transaction.
Cash is out of question for most
dealers as privacy is compromised. Any purchase exceeding a cash purchase
over 10K would trigger a reporting requirement on the side of the dealer.
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Mike Maloney
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Since 2005, Mike Maloney has been the precious metals investment advisor to Robert Kiyosaki, author of the most successful financial book in history, Rich Dad, Poor Dad. Mike founded GoldSilver.com, an online precious metals dealership featuring concierge services, physical delivery of gold and silver to customer doorsteps around the world, as well as providing international 3rd Party Vault Storage options for customers' precious metal holdings
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Information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. It is not intended to constitute individual investment advice and is not designed to meet your personal financial situation. The opinions expressed herein are those of the author and are subject to change without notice. The information herein may become outdated and there is no obligation to update any such information. The author, 24hGold, entities in which they have an interest, family and associates may from time to time have positions in the securities or commodities discussed. No part of this publication can be reproduced without the written consent of the author.
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