The idea of purchasing silver bullion on the internet is far more intimidating than it actually is. The truth is that thousands of people are buying silver online every single day. Online silver companies make it extremely easy to make a purchase and to have the silver delivered to you in a matter of days. The most complicated aspect of buying silver online is, without a doubt, figuring out which type of silver to actually get. This is an obstacle for any new investors who don’t know all that much about silver. If you want to learn, in detail, about all of the various options, you can read our articles on types of silver bullion. As a simplified answer, however, there are few primary choices for types of silver to buy. These options include silver rounds, silver coins like American Eagles, or silver bars. Now, there are many different versions of these primary selections, but these are the three most pertinent types of silver.
Choosing What Type of Silver to Buy
A silver round is nothing more than a coin that has no premium value. This could be anything from a commemorative coin to a piece of metal that was molded into the shape of a circle. Coins with premium values attached to them include government and other historical items. For example, an American Eagle Silver Coin is generally priced a few dollars higher, per ounce, than its plain silver ounce equivalent. The last option for silver comes in the form of bars. Bars are just as they sound, solid bars of pure silver. These pieces are almost always .999 silver and do not typically have any extra costs added to them over the standard rate for an ounce.
Making Payment is Easy
Once you decide which type(s) of silver you are most interested in buying, the next step is to then go ahead and actually make the purchase. This is just as simple as it seems. Purchasing silver online requires that you use a credit or debit card. On occasion, some websites will offer eChecks and bank transfers as an alternate form of payment. In addition, high dollar values can be completed with wire transfers or other methods of payments arranged by the silver company. After you make your payment, all that you need to do is specify how you would like your items delivered.
Select a Delivery Option
Choosing a delivery option is the easiest part of any order, but you should still choose carefully when it comes to make a decision for how your silver will get from the company to you. For the most part, the most cost effective and logical method of delivery is through basic ground shipping. Unless you are in a rush, there is no real benefit to having your items shipped overnight. Don’t worry about your silver getting lost in the mail, either, as the silver company that you made the purchase from will always make sure that your order and shipment is insured.
In a Nutshell
The entire process of buying silver online is as straight forward as any other purchase that you would make online. You will not get ripped off so long as you order from a reputable company, and there is no other risk involved. Making the decision to buy silver as an investment or even as a collector is one of the best financial moves that you can possibly make, and the internet makes everything that much easier.
So, to summarize, there are just three basic steps when buying silver online:
1.) Choose what type of silver you want to buy
2.) Make payment online with a credit or debit card (or other options provided by the website).
3.) Choose your shipping method and wait for the items to arrive at your door.
It couldn’t possibly be any easier.
If you are new to buying silver online, there are some steps that you can take to ensure that you have the most pleasant experience possible. First, you should always have a budget set. Going into buying silver with a blind wallet is one of the easiest ways to spend much more (or less) than you really should be. How you define the correct order size is going to be up to you, but keeping a budget in mind is an absolute necessity.
Aside from knowing how much money you are going to spend, you should also have a general idea what you are looking for. Do you want to buy coins for a collection or bars as an investment? There are many different reasons why people from around the world buy silver, so you should know what your goals are before you dive into a big order. As a general rule of thumb, you will either fall into the category of collector or investor. If you don’t already know that you are a collector, this should all but confirm that you are going for the investment approach in silver.
Choosing the site that you should buy from is also something that is worth paying careful attention to. Don’t buy from just any site. You should be able to contact a site via email or phone at any time should you have questions about an existing or potential order. Customer service needs to be a priority, especially if you are not already familiar with buying silver online. While the prices that a dealer has should definitely be playing into your decision, this should not be the one and only thing that you are thinking about.
Buying silver online should not be something that makes you nervous or confused. Look at silver just as you would any other item that you would be buying in a store, be it offline or online. Know what you are looking for, have a budget in mind, find a suitable outlet, and go from there. So long as you have an address for delivery and the money to pay for the silver, there is nothing to worry about.