How to Buy Silver

Introduction

The year 2008 is a great time to buy silver. Many experts think silver is currently undervalued. If you want to know how to buy silver, you're probably curious as to why many are turning to precious metals, silver particularly. Evaluating silver's price versus the cost of gold, silver is at historic lows. The price itself -- (around $19 an ounce) has gone up quite a bit in recent years, but many predict it will continue to rise for some time. The current gold-silver cost ratio suggests that silver may soon see a dramatic rise in price. However, silver is more than an investment; it provides a safe haven to guard your money from the damage of inflation. As the dollar falls, your money stays safe in silver. In a time of rapid inflation and real worries about an extended economic recession, preserve your savings by buying silver. Here's how to buy silver.

Try to buy silver locally, through coin dealers, silver traders, and pawn shops. Buying silver locally will save you shipping costs and the waiting time intrinsic with mail delivery.

Set up an online account to buy silver via the internet. There are many good sites available; I personally recommend BullionDirect, which I have used. Shop around to see where the best prices are. Whichever site you choose, be sure to make sure it is reputable. Register at the website and provide the required information.

Research the silver you can buy through the site. Silver is available in bars and coins. Coins are minted by countries (some of the most popular one-ounce coins include Canada's Maple Leaf, the American Liberty, and Mexico's Libertads) as well as private companies (such as Prospector Rounds minted by Englehard).

Buy silver coins and bullion through the site's catalog or trading feature, where the prices may be slightly lower than the catalog, depending on the market. You may need to fund your account first, and some places do not accept credit cards.

Request shipment of your purchased silver coins and bullion once you have completed buying. After the package arrives, catalog the contents and promptly notify the company of any discrepancy (this is very rare and customer service is usually exceptional with reputable sites).

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