5 Money-Saving Tips on Buying Silver Coins & Bullion

Everyone’s buying silver coins or bullion bars when the market shows some signs of buzz. If silver prices go up, many people will buy silver coins before they think those pieces will become too expensive. When silver goes down in value, there’s also a rush to buy before the downward spiral ends and prices head back north again. So, it’s safe to say there’s always demand for silver bullion, virtually regardless of the market conditions. What’s more, silver is an industrial commodity with uses in everything from photography to medicine to electronics. In other words, there’s really no end in sight for buying silver coins or silver bullion – there will always be somebody wanting to purchase silver.

So, how can you buy silver coins at the cheapest price possible? There are actually a few methods of buying silver that can save you money and help maximize the return on your investment:

• Buy silver in bulk – There’s no better method for buying silver coins on the cheap than buying silver in bulk. And the more the better. Usually, coin dealers, especially those that focus primarily in silver bullion coins, will offer individual coins at one price, but 10, 20, or 100 of that same coin for a markedly lower price if purchased in those quantities. So, quite simply, the more silver coins you buy at once, the bigger your discount may be.

• Buy junk silver coins – If you’re interested in buying silver bullion in the form of coinage, then the cheapest way to do so is to buy common 90 percent silver dimes, quarters, and half dollars. These include low-grade or damaged silver Roosevelt dimes, silver Washington quarters, and 1964 Kennedy half dollars.

• Buy American silver eagles – Per ounce of silver, American eagle coins have an even lower premium over spot than junk silver coins. American silver eagle bullion coins are readily available from coin dealers and bullion distributors. The cheapest silver eagles are those bearing recent dates, since many earlier issues have acquired some numismatic interest and buying those older silver coins is generally more expensive than buying newer silver eagles.

• Buy art bars and silver rounds – Silver art bars and silver rounds have the lowest premium over spot as compared to standard coins and, in most cases, are even cheaper per ounce than American silver eagles. Both coin dealers and bullion distributors carry art bars and silver rounds.

• Buy when there’s a free offer – Coin dealers and bullion distributors sometimes offer special deals, such as cut-rate prices on more obscure silver coins (such as Mexican silver Libertads). Even free shipping deals can help. After all, if you save $10 on shipping fees when you’re buying silver coins, you will more easily recoup a profit margin on your purchase when the time comes to sell your silver coins.

If you follow these tips when you’re buying silver, you should be able to save money on the purchase and, subsequently, enjoy a larger return on your investment down the line. Investing in and buying silver can be profitable, and savvy investors know that, if they sell their silver coins at just the right time, that even a discount or savings of just a few percentage points can help reap significant profits later on.