Since the mid-1960s, in much of the world generally, and in the United States specifically, people can no longer go to a bank and exchange their nickels, their pennies or their dollar bank notes (silver certificates) for real silver money. With silver no longer in circulating US coinage, people must now acquire their physical silver, including physical silver bullion, elsewhere. There are several ways to buy physical silver bullion, with the best ways being a local coin store or a reputable online bullion dealer.
Of course, just like there are the best ways to buy physical silver bullion, there are the worst ways to buy as well. The worst ways to buy silver are very risky, and the buyer may end up spending too much money for the silver, or, in worst case scenarios, spend money on something that is not silver at all. The worst ways to buy silver are locally, through a print or online ad, as well as online, through a third-party buying and selling platform.
Buying locally after seeing an posting at an online forum can be a decent way to buy silver, but it is one of the most risky ways. Disregarding the possibility of scams and outright crimes, since individuals buying and selling locally through online forums are not actual businesses, much less actual bullion dealers, there is high risk of buying fake, or counterfeit, silver. For this reason, if buying locally, a local coin store is one of the best ways to buy physical silver bullion.
Buying online from places that are not bullion dealers is also one of the worst ways to buy physical silver bullion. Third party platforms such as auction-style websites that connect random buyers with random sellers who may not even be official businesses are generally not recommended for buying silver. The item sold to a buyer may or may not be authentic, and buyer protections may not resolve any problems. For these reasons, if buying online, a reputable online bullion dealer is one of the best ways to buy physical silver bullion.
Buying from a local coin store is indeed one of the best ways to buy physical silver bullion. Local coin stores are in the business of buying and selling, and customers can really get to know the local coin store. Granted, the local coin store could, at times, feel a little pressuring, especially if physical silver bullion with high premiums are promoted over other lower-cost physical silver bullion offerings. Additionally, local coin stores may be very good at selling, whereas a buyer, especially a new buyer, may not be very good at buying. For this reason, there are times when buying from a local coin store can be a good option, but not the very best option. Furthermore, depending on jurisdiction, the local coin store may have expensive overhead, such as payroll and insurance costs, and other behind-the-scenes liabilities which render the local coin store much less competitive on price.
Buying from a reputable online bullion dealer is one of the best ways to buy physical silver bullion, if not the very best way. The online physical silver bullion market is mature, and buyers can take their time to thoroughly investigate and research the bullion they are buying. There is also less pressure when buying from a reputable online dealer. That is to say, whereas a local coin store may be pressured to move a certain product and steer a buyer in that direction, buyers using online dealers for their physical silver bullion purchases do not even have to interact with salespeople at all if so desired. This is not to say a buyer is unable to interact with online bullion dealer sales teams, as many feature a toll-free phone number to call and ask questions, and many online bullion dealers also feature chat-based sales team interaction. In other words, the interaction with a sales team when using an online bullion dealer can range from non-existent to every step of the way. Additionally, the selection of physical silver bullion can be far superior online than that of a local coin store. Finally, if the purchase comes down to a matter of price, generally speaking, a reputable online bullion dealer can be not just the safest way to buy physical silver bullion, but also the least expensive.
There are many ways to buy physical silver bullion. From replying to a forum posting which results in meeting some random dude in a fast food parking lot and hoping for the best, to winning an online auction and hoping buyer protections kick-in if something goes wrong, some of the ways to buy physical silver bullion can be very risky. Other ways are completely safe, such as buying from a local coin store or a reputable online bullion dealer. When it comes to having the most product options, various levels of possible interaction that the buyer desires, and the best overall price, it seems that buying from a reputable online physical silver bullion dealer is the very best way. Buying bullion is a big deal, and at first, it may seem overwhelming, but when buying in the best ways, it’s not just a win for the seller but also for the buyer.