How To Purchase Silver Cheap
If you are a small time investor or collector of silver coins or silver bullion, the price you pay should be low enough for you to make a profit within the shortest period of time. Therefore finding new ways to buy at a discount are in your favor.
Below you will discover various techniques to easily make low price purchases without to much work.
9. Simple Steps On How To Purchase Silver Cheap
1. Find out what the current market value is for silver per oz. You can do an online search or look it up in your every day newspaper. Figuring out this info will help you when you start to negotiate later.
2. Research your local area for silver merchants. Try to find at least 2 or 3 within your driving range. Your objective will be to pit their prices against each other at some point siding with the one who gives you the best price. You can also do the same with online stores.
3. If you are buying more than just a small amount, like 20oz or more, ask your dealer for a lower price on larger volume purchases. If the supplier tries to hold his ground, ask him to at least give you a no tax sale on anything over $500.
4. Make use of on line auction websites. They are a vary good source for superb prices. In my opinion, they are hands down the best value per dollar you can spend. I located one site that sold 30oz of pure silver for under $4.00. As I am writing this article, I checked the same auction site. The last sale made of 30oz pure silver went for just $26.46 USD. That is about 0.89 cents an ounce.
5. Try to cut a deal with convenience shop clerks. Tell them you will buy any silver coins they come across for cash on the spot. Give them a set price for dimes, quarters, half dollars and dollars. I personally gathered over $200 USD in US quarters this way not to mention a whole roll of Indian head nickels. You will be stunned at how many silver coins are still in circulation.
6. Advertise yourself in local news papers or online as a silver buyer/seller. This technique will require some start up cash. Make sure your price spread between what you are willing to pay and what you willing to sell it for are large enough for profit. Even if you do not sell what you buy right away, you will ultimately sell for profit at a later date or exchange it for something of equal value.
7. Be on the look out for garage sales. You will almost certainly not find any coins or silver ounces. On the other hand, you may find some sterling silverware that can be sold for cash or more silver.
8. Search for a direct marketing silver business or multilevel marketing business that deals in silver coins. This is an easy way to leverage the cost of paying full price for silver. It can also turn into a full time home based business.
9. Last but not the least; ask your dealer about pricing out junk bags of US silver coins. These coins should be at 90% silver content. The discount will not be large yet still it should be under market spot pricing by 1% or so.
Now that you know how to buy silver cheap, what do you do with it?
In consideration of the financial woes that the world is in today, it is crucial to have physical possession of your investments. Do not be fooled into believing a promise to pay via a banking instrument like paper money will always be of value. God forbid, if the banks continue to fail, cash to be useless. Then all you will have is what you have. On the lighter side, once we get over this monster money crisis, whatever you have will be worth more. So keep it safe and keep it close at hand.
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Happy Wednesday November 10th 2010 Gold $1400 per ounce Rhodium Plated Sterling Silver
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