Silver coins can be an excellent long-term investment if you’re worried about inflation and want to diversify your portfolio.
Here are some of our favorite precious metal dealers where you can buy silver coins, dollars, and bullion:
Money Metals has achieved great growth since its inception in 2010, establishing itself as a leading online bullion dealer.
Money Metals Exchange offers a comprehensive range of silver coin sand bars from mints across the world, including the United Kingdom, Australia, Canada, the United States, and Austria. Furthermore, the company’s website clearly lists the pricing of each product.
Orders of $500 or more are eligible for free insured delivery. Those between $150 and $499, on the other hand, are charged $9.97 in shipping, while orders under $149 are charged $6.97. The firm does, however, accept returns within three days after delivery. Money Metals Exchange also offers investors the option of storing their platinum assets at the company’s on-site depository.
Money Metals has the fundamentals covered for investors searching for popular coins like American Silver Eagles or rounds at prices that typically beat other bullion dealers. Furthermore, Money Metals includes a beginner package for investors. This bundle contains 120 ounces of silver and 1.1 ounces of gold, costing a few thousand dollars.
The Silver Doctors network created SD Bullion in 2012 as an online precious metals trader, including silver coins. Furthermore, SD Bullion states that if an investor finds a price for precious metals that is lower than what the firm is giving, they will match it.
All orders over $199 receive free and insured shipping. Orders under $199 are charged a fixed cost of $9.95 for shipping.
Their website has a large selection of silver, including coins and bars. They also offer various suitable precious metal IRA products, which can be purchased and placed into your self-directed IRA.
SD Bullion was launched in 2011 as a resource for investors to stay up to date on current global events, precious metal markets, and other news. Additionally, the company aims to educate consumers on preserving financial assets.
The American Precious Metals Exchange (APMEX) is one of the most well-known online silver coin dealers, founded in 2000. With a comprehensive choice of silver coins, the firm has a large collection of precious metals. Collectible coins from the United States, Canada, Mexico, Australia, and South Africa are also available from the vendor.
AMPEX’s pricing is often higher than those of other industry dealers. However, bullion and coins, on the other hand, are available at a discount when purchased in quantity. The business locks in the gold price for 10 minutes after the order is placed to complete the transaction. Credit or debit cards, bank wire transfers, paper checks, e-checks, PayPal, and Bitcoin, are acceptable payment methods.
Your precious metals can be stored by Citadel Global Depository Services, one of the world’s largest private storage facilities. The monthly storage price is $15.
The firm has a loyalty program that entitles members to benefits, such as flash deals and faster shipment. On purchases of $199 or more, shipping is free.
JM Bullion, founded in 2011, offers a comprehensive range of silver coins from domestic and international mints. In addition, the firm provides reasonable pricing, minimal delivery charges, and bulk buy discounts.
If you wish to cancel your order, the firm offers a five-day return policy. They also provide a repurchase program for precious metals valued at $1,000 or more. On purchases of $199 or more, shipping is free. Orders of less than $199 will be sent for $7.99. Packages are insured and shipped the day after payment is received.
Silver is a precious metal that is found in a variety of products, including jewelry and cutlery, as well as some forms of currency. However, current circulation coins no longer contain silver, which is why many individuals invest in rare silver coins.
The value of a silver coin may not depreciate over time. Instead, silver coins have both a steady and inherent value primarily due to their scarcity.
Typically, silver coins are purchased for one of three reasons: as an investment, as an inflation hedge, or as a collector’s item.
Silver coins are said to be the first mass-produced type of currency. Since the Greeks, silver has been used as a coinage metal; their silver drachmas were popular trade coins. Between 612 BC and 330 BC, the Persians used silver coinage. British pennies were made of silver before 1797.
The value of a silver coin is determined by a variety of criteria, including rarity, demand, condition, and the number of coins initially created. The Denarius and Miliarense are ancient silver coins that collectors prize, while the Morgan Dollar and the Spanish Milled Dollar are more modern.
In addition to collector’s silver coins, silver bullion coins are popular among those who want a “hedge” against currency inflation or a store of value.
The Silver Eagle is the world’s only silver bullion coin whose weight, content, and purity are guaranteed by the United States government. New, uncirculated Eagles often sell for $1.80 to $2.50 more than spot.
Like the Silver American Eagle, the Silver Canadian Maple Leaf is a government-issued, legal-tender currency. Although it lacks the status of the Eagle in the United States, the Silver Maple Leaf is one of the most identifiable silver coins in the world and one of the most visually pleasing. At .9999 fine silver, they’re also the finest government-issued silver pieces, as most others are just .999.
Private minters’ non-legal tender issues are technically not “coins” at all and must be referred to as “rounds” for legal reasons. But silver is silver, regardless of whether it’s issued by the U.S. government or a for-profit company like APMEX. AMPEX’s rounds have gained popularity because they are among the most well recognized and acknowledged private issues.
Morgan Silver Dollars were legal tender coins that were made by the United States government from 1878 through 1904, and then again for one year in 1921. They’re 0.86-ounce coins made up of 90% silver and 10% copper, with a silver content of 0.77344 troy ounces – nearly identical to the silver composition of the original Spanish dollars on which the U.S. currency was founded.
The Austrian Silver Philharmonic is a rare coin that rivals the elegance of the Canadian Silver Maple Leaf. With a legal tender value of €1.5, it is also the only silver coin on our list that is denominated in euros. The Austrian Philharmonic Orchestra, a national treasure of Austria, is shown on one side of the coin, while the Golden Hall in Vienna, where the orchestra’s annual New Year’s Day performance takes place, is depicted on the other.
The United States and Canada are not the only countries to produce one-ounce silver-bullion coins. Neighbors south of the U.S. make them as well. Mexican Silver Libertads are sought after by collectors despite their higher $2 premium.
There are advantages to investing in silver coins. One of the top reasons that investors choose to invest in this product is that it is more affordable than metals like gold, platinum, and palladium.
Silver coins cannot be created out of thin air. Tangible precious metals are limited in quantity and quality. If the investor decides to sell their coins, the amount they get is determined by the silver’s worth. This is in contrast to fiat money and equities, which are vulnerable to market fluctuations.
Another benefit of investing in precious metals is that it is confidential and private. Silver bars and coins may be kept in the investor’s house and accessed at any time.
Investors typically purchase silver as a long-term hold because the price steadily rises as demand increases and supply decreases. In times of political and economic instability, gold and silver tend to outperform fiat money.
Silver bullion is a limited physical asset, and because of its intrinsic and genuine worth, physical silver is unlikely to entirely sink, despite market fluctuations like other commodities.
Compared to gold, silver is less expensive to acquire and hence more accessible. Silver tends to move in lockstep with gold, rising in price as gold rises.
Investing in silver has advantages and disadvantages. Some investors may benefit from diversifying their assets by including physical silver, while others may not. Therefore, it is important to consider all the factors involved with precious metal investing before beginning.
- Inflation Hedge
The purchasing power of the dollar is likely to decline with time. In such situations, precious metals like silver help investors protect against inflation.
- Portfolio Diversification
Investing in silver is a great way to diversify your portfolio and maintain its value in times of economic depression or stock market crash. Silver is inversely correlated with other assets, meaning prices may increase when the cost of other assets decreases.
- Stock Market Alternative
Silver prices tend to rise in response to the fall in stock and bond prices. In this case, investing in silver does wonders to safeguard your assets.
- No Passive Income
Unlike stocks and bonds, investing in silver doesn’t earn passive income through dividends.
- High Premium
When buying silver coins, dealers charge a premium above the spot price. This increases the cost of the coin above the actual market price. Moreover, premiums may increase when demand is high.
- Secure Storage Fees
It is necessary to store your coins in a secure storage vault to prevent theft or loss. You may keep your silver in your safe box at home for free of charge. Others may prefer storing their precious metals at a reputable depository. In either case, you will be paying fees for high-quality safe or depository storage.
- Capital Gains Tax
Precious metals are subject to capital gain tax by the IRS. When you want to sell your silver, any profit you have made is taxable.
Silver Coin FAQ
Silver can be purchased through local merchants and internet sellers like APMEX and JM Bullion. You may buy solid silver bars rather than simply coins from more specialist vendors. Before performing any transaction, check the vendor’s reputability on websites such as the Better Business Bureau.
The American Silver Eagle is the United States Mint’s official investment-grade silver bullion coin, making it one of the few coins guaranteed by the U.S. government for weight, content, and purity. Additionally, the American Silver Eagle is a one-dollar coin made of .999 pure silver. As a result, Silver Eagle investors benefit from unrivaled recognition and liquidity.
Silver coins and bullions are a good strategy to protect against inflation and other financial market fluctuations. For instance, if the stock market has been underperforming, investors may want to look into silver and other options.
Banks seldom sell silver, and when they do, they may demand greater premiums. They also lack silver professionals and cannot provide comprehensive counsel to purchasers so that they may make educated decisions.
Since 1986, when the American Eagle bullion coin program began, the United States Mint has created silver coins that are 99.9% pure. Moreover, most silver bars produced by primary refineries are 99.9% pure or higher.
Buying silver in bar form will bring you more silver for the same price. Ultimately, buying bars allows you to stack more silver for less money. On the other hand, silver coins have the added value of being a collectible.
Precious metals can be an investment option for those looking to purchase a tangible asset with long-term, steady growth. Silver, in particular, tends to hold its value even when the stock market is experiencing financial upheavals.
Silver also does well during periods of high inflation and political unrest. When typical equities experience major price fluctuations due to these external variables, precious metals become even more desirable. It is also significantly more affordable per ounce than metals like gold, platinum, and palladium, making it more accessible to new investors.