Tuesday, May 17, 2022

No products in the cart.

  • About
    • Contributors
    • Disclaimers
    • Terms & Conditions
    • Giving back
    • Mission Statement
    • Past Issues
    • Where to Find
    • Call us at 613-935-3763
  • Advertise with us!
COVID-19 Response Framework: STEP THREE OF REOPENING

Get the Seeker Delivered straight to your door, click here
  • Home
  • News
  • Leisure & Lifestyle
  • Columns
  • LTE
  • Events
  • Contributors
No Result
View All Result
No Result
View All Result
The Seeker Newsmagazine Cornwall

How to Get a Better Deal Buying Silver Bullion in Canada

Editorial Board by Editorial Board
August 14, 2019
in You May Also Like
Reading Time: 3 mins read
130 4
80
SHARES
891
VIEWS

From investors to collectors, silver coins and bars are increasingly becoming mainstream purchases for a variety of reasons. Plenty of hobbyists are fascinated by the thousands of designs out there, both historical and contemporary. Professional investors are salivating over the potential returns they could see during a price break out, and regular, retail investors are starting to see the value of putting some of their capital in an asset that’s not as vulnerable to the ups and downs of stock market speculation and jitters.

You might also like

Enjoying Leisure Time on a Yacht: A Full Guide on Doing it Properly

6 Advertising Tips That Will Help You Grow Your Business

How To Keep Your House Free Of Unwanted Bugs And Pests

The secret to successfully making money from silver? It’s making sure you keep your costs under control and pay a fair price. Here are some tips you can use to make sure you pay the right amount.

#1 Always Check Silver Prices

The first thing you should do before making your purchase is checking the up-to-date prices. You can find live updates on silver prices throughout the day. Most online sellers will also have up-to-date prices on their websites, whereas physical locations likely won’t adjust their prices throughout the day to reflect spot – i.e., what the metal is trading on open markets. When you buy silver online, the prices you pay are more accurate and up to date.

Don’t be surprised that prices are above spot – there are premiums that are described below.

#2 Understand Premiums Over Spot

Everyone needs to make money, so when you buy silver coins, you inevitably have to pay more than spot. These cover the costs of designing, minting, shipping, and storing the coins, plus a small profit margin.

The mint charges more than spot and so does the seller. But there are ways you can find lower markups, such as shopping online. Reducing your costs will give you more room when you sell.

#3 Buy Investment-Grade Silver Coins

Collecting coins can be a rewarding hobby, and your finds will always have the value of their precious metals content. If that’s why you’re looking for silver, you can ignore this step, but for those who are concerned first and foremost with conservatively earning returns, avoid collectibles and stick to investment-grade bullion. Collectibles can pay off, but you need to spend time researching the field, and often luck-out with an underpriced find.

Usually the most inexpensive coins are recently-released designs from major mints. If you want to further improve your savings, start thinking about buying silver bars or rounds instead of coins. They have lower design and productions costs, so they’re cheaper to buy.

Is Silver a Good Purchase for Digital Nomads?

While those living the digital nomad lifestyle are inevitably attracted to cryptocurrency, Bitcoin and the like simply don’t have the time-tested track record that bullion metals offer. The white metal may not be the most convenient when it comes to transportation, but this is one area where gold might make more sense.

Storing your bullion internationally can help you access your hard asset investments wherever you go in the world. Depending on where you decide to travel, you may have difficult accessing stock markets in your home country. Putting your money in precious metals might make a lot of sense in the meantime.

The metal market is an increasingly popular move as geopolitical tensions mount. Consider incorporating them into your portfolio.

Author

  • Editorial Board

    View all posts

Next Post

FanSaves wins RC100 Startup Competition

Place YOUR ad here now
Facebook Twitter Instagram Youtube TikTok

Don't miss anything!

Get notified of all our new news by ringing the bell at the bottom right corner!

The Seeker Newspaper is located at 327 Second Street E., Cornwall, ON K6H 1Y8 -- All rights reserved
The Seeker does not accept responsibility for errors, misprints or inaccuracies published within. The opinions and statements of our columnists are not to be presumed as the statements and opinions of The Seeker, and should not substitute professional or medical advice.
ISSN 2562-1750 (Print)

ISSN 2562-1769 (Online)
No Result
View All Result
  • Home
  • News
  • Leisure & Lifestyle
  • Columns
  • LTE
  • Events
  • Contributors

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
X
X