Should You Buy Generic Silver Bullion or Government Issued Coins?
Countless different option exist for silver stackers. Some investors are looking for the most silver for their buck, while others wish to buy only government issued silver coins like the American Silver Eagle to ensure the quality and integrity of their investment. Which option is for you? Let's find out!
Generic Silver Bullion
Silver bullion comes in all shapes and sizes. Countless private mints produce their own silver bullion products to offer investors an alternative to government silver coins. The main reason investors buy generic silver bullion is the money they save in premiums over the spot price of silver. The savings are usually around $1 or so per ounce. That's over a 6% saving! When purchased in quantity, the savings can be huge. These products allow silver stackers to accumulate the most silver, as they can roll their savings into more of the white metal.
One may ask: Are these products safe to add into my portfolio? The answer is yes. However, making sure the generic silver products are produced by a reputable mint and are at least .999 is vital. Many silver rounds and bars are even IRA eligible, allowing for the same functionality as an American Silver Eagle. Silver rounds, in particular, come with many different gorgeous designs to add a sense of collectability to investing.
Here are some of the most commonly purchased generic Silver Bullion items:
- 1 oz Buffalo Silver Rounds
- 1 oz Morgan Dollar Silver Rounds
- 1 oz Lady Liberty Silver Rounds
- 10 oz Silver Bars
- Sunshine Mint Products
Government Issued Silver
Many government mints worldwide produce silver bullion coins that are both beautiful and respected. The U.S. and Royal Canadian Mints are arguably the two most reputable mints as they hold their products to the highest standard in the industry and are respected worldwide, but there's a catch. Silver coins like the American Silver Eagle and Canadian Silver Maple Leaf are known to have some of the highest premiums. Investors get less silver for their money, but they pay for the backing of the government who issued the coin. These items even carry a denomination of $1 for the Silver Eagle and $5 Canadian dollars for the Silver Maple leaf. Government issued silver is the best way to ensure the integrity of your investment, but that sense of security definitely comes at a price.
The most popular government issued silver coins are as follows:
- 2016 Silver Eagles
- 2016 Canadian Silver Maple Leafs
- 2016 Australia 1 oz Silver Kangaroo
The best investing method seems to be a mix of both respected generic and government silver. This avenue allows for savings on premiums while still getting the highest quality silver out there!
*These are solely the opinions of Bullion Shark, LLC and are not intended to be used as investment advice. Please consult an investment adviser before investing. *