Purchasing silver - how to know the price

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Silver bullion is often found in the form of silver coins and many people wish to invest in such coins. This is on account of its purity, which is guaranteed at about 99.9% and it weighs one ounce.  Before purchasing the coins, one must check out the current price of silver.

Some of the popular forms of silver coins in America today are the American Silver Eagle, as well as the Canadian Silver Maple. The weight of these coins is one troy ounce or you can say the weight is about 31 grams. The popularity and recognition of these coins is widespread and so it is easy for investors to choose this option of buying silver coins, as buying and selling is facilitated.

There are several places where you can buy these silver coins, including online sites where there are several traders who quote the price for these coins. Go to the proper exchange site and note down the price of silver today before you start making any purchases of the coins from the authorized dealers that are mentioned on the websites. They will quote prices that are slightly different from the current price of silver in the exchange site. In case you are planning to buy silver, the prices are above the spot price of that day and vice versa in case of selling where the prices quoted are reduced from the current price of silver.

Storage of silver proves to be a problem in some cases, as it requires proper security measures. Hence, many people prefer to invest in such a way that they have virtual investments, where the company holds the silver safely for you, for which you may have to pay a premium above the current price of silver. There is no physical handling of the silver and you can get a profitable investment as well.

Buying silver coins from small dealers and pawn shops locally is also possible. Some of the coins sold in this fashion are called ‘proofs’ and are sealed in plastic. These are meant for collectors and they are in perfect condition. The price of the silver coins of such kind is naturally above the current price of silver. However, selling it might prove slightly more difficult.

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References


http://ounceofgold.net/ounce-of-gold-worth/
http://priceofplatinum.org/what-is-the-current-price-of-platinum/