Have You Bought Any Silver Yet?
Checking to see where the silver price is at or what silver spot is, has become a regular morning
habit around here.
We had never done much with silver or gold but recently decided to look into it some more, went and bought about a 100 ounces of silver to see how it all works.
With the price of silver being close to forty dollars an ounce (which is silver spot price) it sure makes us wish we would have bought a few years ago when it was only about ten bucks an ounce!
A friend of ours that had been buying silver for over thirty years claims silver price will hit a few hundred dollars an ounce yet. If that happens, every ounce we buy NOW will multiply in value many times over.
A Few Tips When Buying Silver
We are NOT by any means professionals at buying silver yet.
This is just a few things we have experienced in our short silver buying experience.
- Find a local dealer you can trust…they will help you learn what is a real silver round, which ones have more silver spot value etc.
- Most of them will charge you spot plus…we paid $2.00 and $2.50 over spot for what we have bought so far. So let’s say silver spot price is $36.00, you will end up paying them $38.50 per ounce of silver.
We DID find a place to buy silver online now that charges a little less per ounce but then you have to factor in the shipping yet. A lot of people buy from Apmex.com as it is easier than fighting traffic and crowds at the silver dealers. - Buy silver from local people… this is actually where you can make better deals IF you can find the right silver to buy, and IF you have at least SOME idea what you are looking for.
You can avoid paying the buyer fees when buying directly from people, plus you can make deals with them if they happen to have a lot of it.