These days we find that people are seeking to buy gold and silver bullion. With an ounce of gold at nearly $2,700 an ounce, many feel that the yellow metal is out of reach. On the other hand, it is much easier to start accumulating silver in small quantities on the even a modest budget.
When first-time buyers visit our shop to purchase bullion they ask us what is the best way to buy silver. We tell them that circulated U.S. silver coin is the most cost-effective way to buy silver today.
Pre-1965 dimes, quarters, and half dollars contain 90 percent silver by weight. They are highly recognizable most everywhere. They are legal tender and are “real” money. $100 in silver coin contains about 71.5 troy ounces of actual silver. We sell U.S. circulated silver coins in any quantity to fit your budget; from a single 10-cent dime to $1,000 bags.
Alternatively, buyers can choose from other bullion bars and rounds. They are .999 fine (99.9% pure) silver and come in various sizes; 1-, 10-, 100- and even 1,000-ounce bars. They are priced at silver spot plus a small premium per ounce. These bars are easily recognized. You should only buy items that display their fineness and weight. Here are some examples.
As an alternative to bars, bullion purchasers can choose from government issued products. Silver Canadian Maple Leafs and American Eagles are quite popular and are also legal tender coins.
Premiums can vary depending on what you buy. It is always the best advice to buy the silver with the lowest premiums. For example, with silver at $30 per troy ounce, a 10-ounce bar would cost ($30 + $2) x 10 = $320. The $2 premium increases the total cost of the silver by 6.6 percent { (2 ÷ 30) x 100}. American Silver Eagles, due to their popularity and high demand, are more expensive with a $4 premium; a 13.3 percent increase above silver content value.
The most affordable way to buy silver is 90% Silver US Dimes, Quarters and Half Dollar. Because they are fractional, you can buy and sell as little or as much as you want with a very small premium.
The bottom line is that when you buy silver, make sure you get the most silver for your money!