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How to Sell Silver Bullion Bars
Silver bullion basically denotes bars of silver or simply silver bars. The term bullion has its origin in French, which means boiling. Initially, the term was used to denote a melting house. Over the last couple of years, the term ‘silver bullion’ has been used by dealers and traders to describe silver purchased in bulk.
The term bullion can also be used to denote valuable metals in wholesale form that are often exchanged on commodities marketplace. The price of bullion is normally established by making use of price of valuable metal content and this is usually defined by factors such as fineness and weight.
The requirements of bullions (i.e. silver and gold) are regularly controlled by laws and market governing bodies.
Buying Silver Bullion
Now that you are familiar with the term bullion, let’s not look at how to purchase silver bullions. There is no doubt that the best place to invest in right now is the precious metal market. The prices of silver and gold have been rising steadily over the last couple of years. Whereas this trend is expected to continue over the next couple of months, you need to know that silver spot price will eventually peak and begin to decline. Once that happens, it will be an indication to dispose of your precious metal acquisitions. While a majority of people would like to invest in silver, only a handful of people know how to go about the process. The process even becomes confusing and challenging when the value of silver per unit is worth a lot of money.
This article looks into detail some of the things that you need to take into consideration when thinking of investing in precious metals.
#1: Security
Prior to making your purchase, you need to take into consideration security. As an aspiring precious metal investor, you need to determine how secure the transaction is especially if you are buying and selling silver in bulk.
If you are thinking of investing seriously in precious metals like silver and gold, you need to think of unfortunate incidents like the one which happened in Chilliwack, British Columbia. What happened is that, two robbers broke into the home of a silver investor and got away with silver bullions worth $750,000. While this is tragic, the truth is that such incidences do happen.
Privacy
As is the case with security, you need to take into consideration your privacy. The incidence described above would not have occurred in the first place had the robbers not known that the owner to the house was a silver investor and have loads of silver stored in the house.
The popular saying, “It’s better to be safe than sorry” is not in vain when it comes to buying and selling of silver. Let your investment be a secret. Thanks to technology, anything that is stored online can easily be accessed by an individual with the know-how.
While making your purchase, only use cash so that there are traces of your records. Alternatively, you can opt to make your purchase online since the buyer and seller complete the transaction virtually, and as such there is no face-to-face meeting.
Other factors other than ones mentioned above that you need to take into consideration when trading in silver bullion are speed and value.
Steps on How to Buy Silver Bars
Are you looking for tips on how to buy silver bars? Silver bars are perfect investment because of its increasing value and it is a legitimate trading unit. Silver investing is one solid option to grow your money especially if you are preparing your future or retirement. Your investments will not be stagnant because it moves fast from buyer to seller. All you have to do is to be a smart investor. Here are some easy steps to follow:
1) Know the entire process of buying and selling silver. Ask the professionals or experts in the industry in order to give you the entire process. They are the best persons to discuss silver investing.
2) Ask around for the best place to buy silver. You can check the internet. Check also forums about silver buying and selling. You will meet different people who can give you tips where to get the best deals. However, you need to be careful with all the information you read from the different websites you will encounter. Not all information found on the internet is the truth.
3) Before you finally decide that you are going to purchase silver bars for your investment purposes, you need to be aware that there are several forms of silver that are available. There are numismatic coins that are nice and are highly in demand as collectible items but not ideal like silver bars. These coins are only valuable for coin collectors and many buy for premium price due to its rarity. However, once the silver market gets tons of these coins, the value will depreciate.
4) You might think that it would be safer to physically get from a dealer or store the silver bars you will purchase. Actually, it is not. It is much safer to have it delivered to your place because it is classed as registered mail. It is secure. Plus it is also insured which means you do not have to worry if it will get lost while in transit.
5) Buying bars means you need to know the proper time to sell it. Study the silver market trends and do some research. It is very essential for any investor to know the perfect time to buy and sell your silver bars. There will be times that you need to wait for a long time in order to turn it into cash and enjoy your return of investments. You do not want to waste your valuable investments because of the changing economic trends.
6) Check the quality of the silver bars before buying it. Check for a quality stamp or serial numbers somewhere.
7) Buy only from a trusted company your silver bars. Do not make the same mistakes of other buyers because of poor decision and judgment.
As a beginner in buying silver, you need to equip yourself with information in order to buy silver bars successfully and safely. You will get your return of investments if you will follow the above steps on how to buy silver bars.
Silver Investing–Tips for First Time Investors
By virtue of being on this page, chances are that you are looking for information in regards to silver investing. If that is the case, then look no further. This article discusses into detail some of the factors that first-time silver investors should take into account so as to not only guarantee their investments, but returns.
The elements to consider when thinking of buying silver bullions have been broken into four different groups. These are security, secrecy, swiftness and value.
Security
Security is a crucial factor to take into consideration no matter what type of investment you are in. Note that, there are people whose work is to just lurk around you waiting for the opportune time to pounce and steal your silver bullion. Therefore, if you are one of the many people who buy and sell silver in bulk, it is important that you assess your security.
To underline the importance of security, you need to read more about the tales of both gold and silver investors who have been robbed. Last year, a silver investor lost up to $800,000 after being robbed of his silver bullion. If you prefer to store silver bullions in your house, it is highly recommended that you buy a superior safe as a stowage unit.
Secrecy
There aren’t enough words that can be used to describe the importance of confidentiality when it comes to buying and selling of silver bullion. Note that, the robbery incidence outlined above would not have taken place in the first instance had the investor exercised some form of discretion. You can only hope that the silver bullion was insured thus guaranteeing the owner of his investment.
You need to exercise some discretion when planning to buy or sell silver. As a result of technology, every record pertaining to real estate investment, stock purchases and bond trades are recorded online. Hence, if you have the know-how, you can effortlessly access the names of investors thereby making them your target.
Silver bullion can be acquired in cash from virtually any dealership in your area. Hence, to avoid leaving traces of your transactions, consider making your purchases in cash. Alternatively, you can opt to make your purchase online since you will not be compelled to make a face-to-face transaction.
Swiftness
One of the reasons why silver has attracted a majority of investors over the last couple of months is the phobia for inflation. Therefore, the pace at which you can buy and sell silver bullion, get the cash for your transaction in currency and transfer the money to a different holding is extremely important.
Value
The key reason why a majority of people opt to invest in stock, bonds and precious metals is the promise of high returns. Therefore, you always need to take into consideration the cost of acquiring silver bullion as it will determine how much currency you can get in return.
Then again, it is important to point out that silver bullion can be acquired below the spot price. The key is to identify which types of silver bullions are more likely to give you a high return. Nonetheless, you need to exercise caution when opting to acquire silver bullion that are accessible in the market below the spot price since they are mainly driven by speculators who are keen on making as much money as possible on their investments.
Sure Fire Tips to Get You Started on Silver Investing
Are you planning to venture into silver investing? Before you take the plunge, it is advisable that you learn more about the best place to buy silver and the silver prices. Do not worry! Here are sure-fire tips that will help you get started.
If you are going to buy silver bars or invest on silver, there are no guarantees that you will succeed. But there are ways in order to make it happen if you are going to equip yourself with the right information.
Silver Investing
1) Study the silver market. Investing in silver is different from buying bonds or stocks. Read the latest news about the market and how it goes.
2) Educate yourself. It is advisable that you look for some experts. You will surely from these professionals such as the selling and buying process of silver. Read books and other resources as well to better understand the silver market.
3) Do online research. However, you need to evaluate and scrutinize the information you will find. Not everything you read in the internet are true. You might be misinformed. For example, if you have found a website on buying silver, check the profile of the owner of the site. If the owner has been in the industry for more than thirty years, look for his name in other sites and forums to check whether it is true or not.
4) Know the several ways on how you can invest your money in silver. You have the option to invest in silver coins. Silver bullion, silver futures, silver ETFs and silver mining companies. More experienced people into the silver industry suggest that the best way to invest is in coins or bullion because it is the real metal. You do not need to pay for the energy costs consumed by mining companies. Or you do not have to buy 1000 ounces of futures contract that will put you only on higher risk for a beginner.
5) If you are planning to invest in silver bars or coins, you have to know some tricks. One important trick you have to know is to find sellers who sell as close as possible to the spot price plus additional fee for the silver. The rule of thumb in buying silver is the more you purchase, the less percentage of fees you need to pay. If you will purchase coins, go for silver rounds or bullion coins. You should not be buying silver coins because of their numismatic value. Coin collecting is a different thing from investing on silver.
6) Before you start investing on silver, it is best to decide how much you are willing to invest, amount of your rollover funds, the other assets that you want to convert into silver and your cash on hand. You need to keep as well emergency funds especially for unexpected expenses.
As experts say, there is money in selling silver especially if you are saving for your future. Silver investing is one of the growing businesses that you have to consider for your next venture.
Tips for Purchasing Silver Below Its Spot Price
Definition
Prior to looking at tips for acquiring silver below its spot price, let’s first of all define spot price silver. In a layman’s term, silver spot price denotes the immediate value at which an individual is willing to acquire a unit of silver for cash. The same term can also be used to describe the current value at which silver is available for sale or acquisition. Silver spot price is usually defined by two elements. These are:
- Location
- Time
For example, the current silver spot price is $33.54 per ounce as at 11th November, 2012 06:09 EST. As is the case with gold, the prices of silver are normally indicated on a live chart in real-time. Therefore, if you are thinking of investing in silver, it is important that you select the best service provider who will not only guarantee you top prices, but sell to you high-grade silver.
Silver spot prices are usually obtained from a 24-hour 7 days a week silver exchange across New York, Hong Kong and London. Companies trading in silver will most definitely find these real-time charts handy since they’ll need to full comprehend international silver value trends over a certain period of time. These trends are normally derived as traders continue to buy and sell silver globally.
Then again, these 24-hour live charts are not only useful to traders, but also to physical silver investors. The key reason for this is because it enables them to track the price of silver over a certain period of time. Hence, if you are one of the many physical silver investors, you need to first of all take into consideration chart patterns prior to making your trade given that silver values tend to play out at time intervals.
Buying Silver Below The Spot Price
A majority of physical silver investors tend to develop doubt whenever they are told that they can acquire silver below the actual spot price. Unlike what you may have heard from your trader, buying silver below the spot price is possible without applying any tricks and tactics. Anyone with knowledge on how the prices of silver are affected can achieve this feat.
The secret to acquiring silver below the spot value, is buying high-quality silver in bulk. It is a fact that typical silver bullion such as the Canadian Maple Leafs as well as the American Eagles can attract extreme premiums over the actual spot price. Given the premium prices charged on these silver metals, majorities of traders are unwilling to dip below the spot price no matter how many units of Canadian Maple Leafs or American Eagles you purchase. Therefore, you need to identify types of silver that dealers and traders are willing to sell for less the spot value. These types of silver are commonly referred to as “junk silver coins”.
As is the case with any other type of investment, do not let the less-than-flattering description dissuade you from making your investment. As a matter of fact, “junk silver coins” have increased in popularity over the last couple of years, especially amongst speculators who are keen to get more returns for their silver investments. Examples of “junk silver coins” available in the market are Morgan, Kennedy, Standing Liberty and Jefferson “Wartime”.
The spot price silver of “junk silver coins” may differ depending on several factors such as fineness and weight.
Silver Price Chart
See our real time pricing chart. Use this chart to check daily the price of silver. Don’t forget about your free silver investing kit available over in the side bar on this site!
The Political Price of a Dollar
Did you know that the 1879 silver dollar value in mint condition is worth over $35,000 to a collector? You might have guess that an old and rare coin such as that could be worth a considerable amount of money. You only need to pick up the newspaper occasionally and once in awhile you’ll read a feel good story about some lady rummaging through an old box in her attic and stumbling across some invaluable coins among the remnants of a bygone generation.
The 1879 “cc” silver dollar coin is worth so much because there were only 756,000 ever made and most were melted down and turned into new coins during the 1920’s as the Pittman Act tried to jump start the US silver mining industry by calling for the full replacement of all previous comings. This was by no means a new practice, but it after the First World War, it was a wide scale operating with over 200,000,000 new Peace Dollar coins stamped.
In current times, the humble dollar coin has become a political battleground not between the usual suspects, the Democrats and Republicans, but between the President (and his Treasury Secretary) and the Senate. The Treasury Secretary, Tim Geithner, in 2011 stopped the mint from producing anymore one dollar coins because the Federal Reserve had accumulated more than $1.4 billion dollars worth of the coins, enough for the foreseeable future. This move by the Treasury department was seen as cutting government waste.
The problem of course, as is most things to do with politics, is that the solution to the problem is only a solution depending on how you spin it. A bipartisan Senate group has put forward a bill called the COINS Act that plans to phase out the dollar banknote in favor of a dollar coin. The Senators are promoting this bill on the fact that while a coin costs more to produce initially, the dollar banknote has less than a five year lifespan whereas American coins tend to last in circulation on average twenty five years. The Senators rightfully point out that when you’re arguing about “waste” the US government would save between $200 million and $600 million dollars per year, or about $6 billion dollars total over thirty years but moving to a dollar coin.
The factor not discussed openly is that the President and his Treasury Secretary read the polling information, or at least a version of it. Most polls suggest that Americans don’t like the dollar coin idea. Or so some political spins doctors would have you believe. When asked whether they preferred a dollar note to the dollar coin, more Americans choose the note because it is lighter and foldable making it easier to carry. However, when presented with the idea that the dollar coin could save $6 billion dollars over 30 years, overwhelmingly support the dollar coin.
The real truth probably sits in the middle somewhere. No doubt there would be grumbling from many quarters of the population and business who’d be forced to make changes to accommodate the changes, but like most things in life, those complaints would be short term. It is hard to imagine with healthcare and defense cuts looming that the US government would forgo massive savings to avoid such a small political backlash.
Ever Wondered Where The Designs For Coins Come From?
Everyone differs in their opinion about what’s beautiful and what has value. When it comes to coins and coin collecting, there are a huge range of people who have differing opinions about what makes a good coin design, what are the best examples of coins and what are the most valuable coins. You may never have even looked carefully at a coin to see all of its design details, but this is one way that many people actually become passionate coin collectors. When you’re looking at a coin, especially a rare or vintage coin, you’re really traveling back in time, and you can learn an awful lot of really interesting history about the United States just by doing a bit of detective work.
One fact that most Americans would not have heard is that all coins today, regardless of age, are based on the same design that was mandated by the Government in the Coinage Act of 1792. The Act provided the basic guidelines that all coins had to follow, and it stated that all coinage had to have three markings:
1. One side must have an representation of liberty, an inscription of the words “Liberty” and the year it was produced;
2. One side of the silver and gold coins should show an eagle with the words “United States of America”; and
3 The reverse side (or back) of any copper coins had to include the coin’s denomination.
Close to 80 years later, the Government passed the Coinage Act of 1873, which gave the Mint the power to inscribe the motto “IN GOD WE TRUST” on coins as they saw fit. The majority of the coins minted in the United States in the 19th and 20th centuries have different designers. Some of the coins are actually names after their designers, such as the Gobrecht Dollar and the famous Morgan Dollar. The 1879 silver dollar value is quite high because it is part of the series of Morgan Dollars which have become very popular with collectors and investors alike. While they had to stick to the design specifications laid out in the various Coinage Acts, they did have quite alot a leeway in terms of the way they represnted the images. This is the reason many of the coins show different portrayals of liberty and the eagle.
The first President to have his image on a commemorative coin was Washington in 1899 on the so-called Lafayette Dollar, while a portrait of Abraham Lincoln was placed on a cent coin issued in 1909 to commemorate his 100th birthday. Washington reappeared again in 1932 on a quarter, while Thomas Jefferson’s picture was placed on a nickel in 1938.
An interesting fact about the size of US coins is that it is not true that the larger they are, the more their face value is worth. For example, the ten cent coin is smaller than the cent and a five cent piece. This is because of a quirk from before 1965 that coins were made out of silver, and their sizes were dictated by the amount of silver needed for each denomination.
So next time you look at a coin, think about the long and rich history that goes behind it. You might be surprised to find that its more interesting than you ever believed!
The Early History Of The United States Mint
There is something very alluring about the idea of a Mint – something to do with the idea of being able to print money and mint coins to your heart’s delight. It is rather like the idea of owning and running a chocolate factory, and at some time or another in their lives most people have thought about owning a Mint of their own. Of course the reality is not quite as simple, but it’s still fun to find out about Mints and how they operate.
The United States Mint was founded soon after the ratification of the Constitution as a means for creating a sound monetary system that would help the new Republic get on its feet. In April 1792 the Coinage Act was passed, which allowed for the creation of a national Mint, and the physical construction of a building for that purpose. Because the nation’s capital was in Philadelphia, this is where the Mint was founded, and in fact it became the first federal building to be completed under the country’s brand new Constitution. The Mint had to have a director, and President Washington chose David Rittenhouse to fill this momentous and historic role.
The first coins produced for circulation into the general population by the US Mint were copper cents – just over 11,000 of them. With this success under their belt the Mint was tasked with creating silver and gold coins, and there is a lovely story of Washington himself donating some of his collection of silver for some of the coins. If this is true then collectors today may actually own some of that original silver from Washington, either as it had been melted down over the years and used in new coinage (as often happened with silver coins) or with those very first silver coins ever produced in the United States.
It is really extraordinary to think of the sheer amount of hard work and physical labour that went into the production of coins during those early days of the Mint. For example, because of the design of the machines used to make the coins they had to use horses to drive them, and the actual process of heating the metals used, and then flattening and stamping the coins was all done by hand. Is there any wonder, therefore, that coins during those early years were subject to human error and natural mistakes? Even with all our advances in technology, coins produced today are still subject to errors. As it so happens, however, those early coins with mistakes or errors are worth more than their modern day counterparts simply because they are also very historically interesting. The 1879 Silver Dollar value is a good example of this. The Dollar, often called the “Morgan Silver Dollar” can be worth $25 to $35 on today’s market (depending on the condition, circulation status and mint mark), but an error coin – or one that has been struck twice or you can see that the engraved stamp has had a flaw – might bring a couple of thousand dollars or even a lot more.
