Buying silver seems to be a problem for people wanting to get into the silver market on a budget. People seem to think that they can only buy silver bullion in crazy amounts like 100 oz. silver bars. This is simply not so. Yes, you can by amounts like 100 ounce pan American bars or street mint silver bars. You can find silver bars for sale from places like Ohio Precious Metals and keep them in a safe deposit box. What I recommend is that 100-oz silver bars are too big of a risk to the average person. The average person if they are going to buy silver bullion should buy 10 oz bars. 100-oz silver bars are a bad idea because they are usually sold @ spot +2 and this is far to high a price to pay for silver. For instance as of today the spot price of .999 fine silver is about 39 dollars. So buying silver bars for sale @ spot + $2 would mean you are buying silver for about 41 dollars an ounce for .999 fine silver bars. Also some silver bars such as Engelhard silver bars are serial numbered so they are sometimes hard to sell if there is not a serial number on your silver bars. This is just crazy.
Sure silver rounds and bars are good if you have that kind of money, but what I recommend would be to buy 90% u.s. silver coins. Yes I know you feel that you could get a better deal buying bullion rounds, but why would you buy silver rounds? When you can buy 90% u.s. silver coins that not only hold the value of silver but also have numismatic value which means that these silver coins or junk silver as its referred to in the trade will never be worth less then the face value if the silver market crashes. For example a 1921 Morgan dollar not only has value because it is a silver coin, but also holds a value because it is a 1921 Morgan silver dollar plus it will always have its face value no matter what. These are called junk silver coins. Junk silver coins are not brand new coins.
Junk silver coins are basically U.S coins that are 90% silver coins such as the 1878-1904 Morgan silver dollar. You can buy these 90% silver coins in bags or at face value sometimes at a certain amount times the face value of the silver coins. You can also buy junk silver online or in your local coin store. The problem with going to your local coin store is that they will most likely make you buy @ spot price for silver that day or they may even charge you based on the intrinsic value of the coin. If they try to pull this or pull something else like telling you they have a 20 coin minimum just walk out. It is truly not worth it to deal with people like that. You might as well just over pay and buy American Eagle Silver Coins from the u.s. mint also known as mint tubes. Your best bet is to make a 90% silver coin bag investment online from a trusted retailer because When you buy 90% silver bags of mixed silver coins such as a 90% silver bag filled silver bullion coins like the peace dollar the price per ounce of silver is a lot cheaper. To not come out behind you need to think every silver coin bag investment as just that an investment.
The another option would be to buy Canadian silver coins. Yes that's right Canada they also use .999 fine silver in some of their silver coins such as the Canadian Maple Leaf from the Royal Canadian mint. Yes Canadian gold & silver coins are just as valuable as U.S. silver coins because you are after the silver content and Canadian silver coins use a good .999 fine silver that can be extracted from the coin. So for this reason the silver Canadian maple leaf 1 oz is a good investment for silver buyers. These can also be purchased a lot cheaper then the silver American eagle.
In conclusion if you are going to buy silver online you need to be on the look out for silver specials at places like the wall street mint often have deals on silver coins or even 10 ounce silver bars. You should also keep a lookout for all u.s. silver coins 1878-1904. They may even have silver specials on sunshine silver bars once in awhile.
Whatever you do please remember :
1.) Keep your silver in safe deposit boxes.
2.) Buying silver bars 100 ounce or larger is ridiculous you might as well buy a 1 ounce gold bar or a 2 oz gold coin or some mint tubes they will be worth more in the future.
3.) Don't buy silver coins from anywhere with a 20 coin minimum
4.) Silver coins 1878-1904 morgan in particular hold two kinds of values not only do they hold the junk silver value, but also the intrinsic value so whatever the health and possible futures the silver market might hold these silver coins will always hold there face value.