Insider Warning | Before you start buying silver coins:
Buying silver coins is not as simple as grocery shopping. Just like buying any other collectible item, there are certain precautions you need to take before making a purchase. It all comes down to acquiring knowledge and doing research not only what you are going to buy, but also who you are buying from.
With that said, here are 4 starter tips you need before going out alone and shopping for silver coins.
Insider Tip: Ignore the pretty pictures on silver coins. You are not buying art, so don’t pay for it. There is real investment value with junk silver coins.
More about this below under Tip#4: Avoid Premium Coins.
Know Your Dealer
Whether you are buying these coins online or from a brick and mortar collectibles shop, you need to determine that you dealer is trustworthy. Look for feedback from customers who have bought items from this dealer on the Internet. Ask people in real life if they have experience with this dealer and how was it, or you can ask them for a recommendation on a dealer that you can trust. Stay away from shady people because if you don’t, it’s your money on the line.
Don’t Break The Law
This is a no-brainer. When buying silver coins, make sure that they are legal. If you buy legitimate silver coins in a questionable manner or from a questionable source, you may find yourself in trouble with the law. This time, it’s not just your money on the line. You may also serve time if you get tangled in an illegal operation. It’s never a good idea to buy stuff if there’s a chance that they are stolen goods.
Don’t Buy What You Don’t Understand
Buying silver coins takes more than just determining if they look pretty or not. First, understand their value by asking for their silver content. Its design and form comes secondary to its silver content when it comes to value. Silver coins with history can command more value than relatively newer ones. If you have no idea the real value of a coin in terms of history and silver content, stay away from it. It’s best if you do research first or you find someone trustworthy to evaluate a silver coin’s value for you.
Avoid Premium Coins If You Can
There is real value in owning junk silver coins. Why pay extra for design? Spend your money on what really matters, the precious metal itself.
When buying silver coins, you will often come upon premium items that just looks stunning and difficult to say no to. However, a silver coin doesn’t have to be a premium one for it to become valuable as an investment. If you can, stay away from premium coins. These premium coins cost a lot more than regular silver coins so it would require you to invest more money into it — money that you can use to purchase more non-premium silver coins.
Choose a Reliable Company To Buy Coins From:
Whether or not you have looked at any companies at this point, please consider something first. Every day, people get scammed out of their hard earned money through poor and uninformed decisions. Please don’t make the same mistakes.
If you are unsure about where to find a legitimate and reliable company, please take a minute and watch this video. I explain the company that I trust. In this Review (video) where I talk about what they provide and how to quickly get current prices. I also share my experience, along with some of the reasons why the company is better than the others I have researched.