Mistakes to Avoid When Buying Silver


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Silver, like gold, is a precious metal that can be invested in and relied upon during times of economic instability. Any investment requires a degree of caution to avoid making a bad financial decision, and silver is the same. This video explains common mistakes to avoid when you buy silver.

The first mistake to make is investing in EFTs or other sources of silver where you are not the owner of the physical silver. You want to have the physical silver you are buying. If you buy shares of silver other people own, you may be left in the dust if many people seek to take out their shares all at once.

You also need to buy silver in the right denomination. Most people do not want to buy enormous bars of silver, but you want to invest in coins or bars that are 90% silver. If you buy fractional silver, you may not be able to sell it at a good price.

Similar to the last point, you want to be buying reputable silver. U.S. 90% silver, American Eagle coins, Canadian Maple Leafs, and other reputable silver will be able to fetch you a high premium if you choose to sell it.

For more information, check out the video above.