How to buy silver online
When buying silver online, you need to know a couple of things before you make your purchase:
- The price of silver per ounce: when you know this, you can calculate how much of a premium you are paying per ounce of gold. See the tab “The price of silver” for more information.
- Shipping method: is the shipping discreet? Is the shipment insured? Has the dealer had any trouble in the past with shipments? You need to make sure that you will receive your silver purchase.
- Does your online broker have a secure site? You can tell by looking for the green padlock on the browser address bar. Or, alternately, they have a URL that starts with https (the s means secure). For more information on website security, click here.
You might be inclined to shop around for the best price on silver you can find, but if the silver broker doesn’t have a secure website or doesn’t insure the shipment, price is irrelevant. Also, since the price of silver per ounce is the same for all dealers, the only difference in price is the premium paid for the silver.
Before you buy silver online, make sure you are fully informed. For more information, you can also read about what you need to know before buying silver.
Buying Silver for Your IRA
If you are looking for silver to buy for your IRA, you must first know what kind of silver you are allowed to buy under IRS law to include in your silver IRA.
- The silver coins or bars you buy must meet purity levels mandated by the IRS. For silver, that standard is 0.999 pure.
- The silver bullion you buy must be stored by a precious metals depository.
- The silver IRA must have a custodian who acts as the trustee.
National Coin Broker has relationships with an approved silver IRA custodian and an approved silver depository if you are interested in setting one up.
IRA approved silver coins:
IRA approved silver bars:
- Any silver bar you wish to invest in for your silver IRA must meet the purity requirements and be produced by a NYMEX or a COMEX approved refinery. Popular choices include the Johnson Matthey bars, and Engelhard bars.
National Coin Broker can help you setup your IRA quickly and easily. We can quickly source any metals you need for your IRA and we can provide you with a high-tech, completely secure depository to store your silver. If you are interested in learning more, contact us today – 800-707-7923.
Should You Invest In Silver?
There are several reasons that investing in silver is not just a wise financial decision, it is a requirement for protecting your wealth and retirement savings from financial disaster. They include:
- Silver is incredibly rare. All the silver on planet Earth came from the collision of two dead stars whose fallout hit the planet while it was still forming. There will never be any more available (at least not until we begin space mining).
- Silver’s value is inherent. It doesn’t rely on another’s promise to pay like stocks and bonds do. Silver has always maintained its value and will never be worthless.
- Silver has always shown to be an excellent hedge against inflation. When prices for every day goods go up, the value of currency goes down. However, silver has historically shown to weather inflation well.
- Silver is a great way to diversify your portfolio.
- Silver protects your investments against economic catastrophe, including currency devaluation, stock market crashes and depression.
- Silver is extremely liquid. There are buyers for silver all over the world so you will not have any trouble selling it should you wish to do so.
Whatever your reason for investing in silver, National Coin Broker can help you buy the silver you need for your investments.
What is the difference between silver bullion, silver coins, and silver bars?
Silver bars and silver coins are both a form of silver bullion. Bullion refers to a bulk amount of a precious metal. Bullion metals may be cast into ingots and bars, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.
Many nations mint silver bullion in the form of coins. Although nominally issued as legal tender, the face value of the silver bullion coins is far below that of their value as silver bullion.
The price of silver
Silver price is the amount of money it takes to buy one ounce of physical silver and it is often referred to as the spot price. It is a reflection of real-time prices as set by banks, traders, broker and other market platforms.
Why Is Silver Considered a Precious Metal?
A metal is deemed to be precious if it is rare. All the silver on Earth was the result of a crash between two dead stars.
These stars both died in a supernova that made their cores extremely dense, which is what fused protons together to make silver in the first place.
Then, these two stars, called neutrinos, crashed into each other, spewing out all the elements created in their dense core during the supernova.
The silver on Earth is the result of the fallout of the two neutrino stars reaching our planet when it was still young and forming.
For this reason, there is never going to be any more silver on Earth (and we wouldn’t want more to fall to Earth either). So, the amount of silver available is never going to increase, making it rare and precious.