When purchasing silver bars, rounds, or coins, there are to main options: visiting a local dealer, or buying silver online. There are benefits and drawbacks with each method of investing in silver. If you opt to buy online, there are dozens of reputable online sellers offering a huge selection of silver coins and bullion.
Selection and Pricing
One of the most significant benefits of buying silver online is the selection. A click of the mouse gives you access to nearly any type of silver round or bar ever minted. Whether you are looking for a beautiful artistic silver round or are searching for the lowest per-ounce price, online silver dealers offer a wide range of silver rounds to meet the needs of any investor. When shopping online, you have a much better chance of finding the exact silver rounds you are after than when buying from a local dealer.
The prices displayed on most online silver dealers’ websites change frequently throughout the day. Some have minute-by-minute price changes to reflect changes in the spot price of silver. Prices found online tend to be significantly lower than those charged by local dealers, since online sellers have lower overhead costs and face higher competition.
Finding an Online Dealer
Prior to purchasing silver over the internet, be sure to seek out a reputable dealer. Online, you’ll find dozens of trustworthy sellers offering affordable, top-quality silver rounds. But there are also some unreliable dealers, some of whom may send damaged or counterfeit silver rounds. Always do your research so that you know you are buying high-quality silver rounds from a trusted source.
Prior to submitting your order, read all of the fine print. Look for a dealer who offers a favorable return policy. Carefully scrutinize all of the photos and written information provided about the silver round. Be sure that you know whether the image is a stock photo, or a picture of the actual silver round that will be sent to you.
How to Buy Online
After finding a reputable online dealer, let the fun begin. Browse the site’s catalog to find the silver rounds, bars, or coins you want to buy. Generally, online dealers offer a ‘shopping cart’ function, so that you can select a variety of different silver rounds and then pay for them all at one time, once you’re done browsing. Once you reach the checkout stage of the transaction, the prices are locked in, accounting for any changes in the spot price of silver.
The final step is paying for your silver rounds. Each dealer sets their own payment policies. Common payment methods include bank wires, paper checks and money orders, or credit cards. There are benefits and drawbacks to each. For example, credit card payment often incur an additional fee for processing. Bank wires are fast, but can be confusing for new buyers to set up. Paper checks are easy and inexpensive, but they can add several weeks to the transaction time, since sellers have to wait for the check to clear before they can mail your silver. Regardless of your payment method, once the seller receives your payment, the silver rounds will be sent to you.