Here's How Not To Fall Prey

Don’t buy silver from TV commercials. Ads are expensive. TV commercials sell silver for up to $ 50 or $ 100 an ounce, which is up to ten times the price of silver. They are sold as “unique, limited, collectible” items that are mass-produced and newly manufactured. In coin shops, you can buy the same products that were sold on television ten years ago, for the price of silver.
Don’t buy unique coins or numismatics for investment purposes. I believe that unique coins are like idols. Avoid idols made of silver! Up to 99% or more of the value may be in image quality, or rarely, and not in the silver component. Plus, you can lose up to 50% of what you paid for an item when you sold it. An investment of $ 300,000 alone may be enough to unknowingly “fix” the market for some unique coins, whose value is growing rapidly because you are the only buyer and have no one to sell. Some dealers “print” rare coins because they receive more commissions for rare coins. Unique coins are not liquid and cannot be used. Silver is silver because it is substitutable and liquid.

Beware of long delivery times. Long delivery times are a warning sign. Coin shops are known to be in decline. Don’t buy more silver at a time than you can afford to lose. So if you are buying silver from one seller, interrupt the order over time or use several different sellers at the same time. Diversify your investments at every stage.
If you want to make $ 1 million in physical alloys, it will take hours and a lot of work, and you may be one of at least 100 people in the world to try. After years of searching, I found only 5 coin dealers in the US. who always had 100,000 ounces of silver in their personal inventory. Many retailers who claim to be “the largest retailer in the country” (and there are about 5-10 such claims) do not have large stocks. Many sellers admit that they have so many approaches, but this is because they place your order with a larger seller and “drop the ship” directly from another seller to you.

Understand the difference between the “indication” price and the “final” price. The indication is just an estimate of the price. “Lock” means that you commit to buy at this price, reach an agreement and can’t go back down. Be aware of the potential risk that precious metal sellers in the bull market will block your price before withdrawing money. (This is standard business practice.) If they don’t buy futures markets when they accept your order for their own extra money, or if they don’t have more metal than they want, then bull market conditions will eventually fail if it’s theirs. standard business and if the volume of their orders is high enough.

If you live outside the United States, it may be harder for you to find silver. You can consider a trip to the USA, where you can buy physical silver and fly back with you, or send it.