So you have decided to begin investing in silver. The question now is what types of silver products should you be buying. There are numerous choices available to investors when it comes to silver, and what you decide to invest in may be determined by your investment goals.
We believe that various forms of coinage certainly have their place within your portfolio. We also believe, however, that the key to building a long-term financial fortress using precious metals is to buy and hold as much gold or silver as you reasonably can.
Here we will discuss a few ways to stretch your silver investment dollars that may potentially enable you to buy more ounces:
Stick to the basics: As we said previously, coins are certainly an important part of a precious metals portfolio. That being said, however, silver bars and rounds may offer some potential cost advantages. Silver rounds offer some of the smallest dealer premiums over spot. While some silver rounds feature intricate designs and are beautiful to look at, others are quite simple and have little visual appeal. The important thing to keep in mind is that it doesn’t matter – all you should care about is getting as many ounces of silver as you reasonably can. If you ever needed to trade silver for food, it won’t make any difference if the silver round has a design or not – all that matters is its silver content.
Buy in bulk: Buying silver a single ounce at a time is not going to be very cost effective in the long run. Now, if this is all you can afford, we still think you should be buying silver. If you can afford to buy in bulk, however, we feel this is the way to go. Buying silver in bulk can offer substantial per-ounce cost savings that can really add up over time. Buying larger quantities of silver can not only lower your per-ounce premium, but you may also save a great deal of money on shipping and insurance if you are having any silver shipped to you.
Buy regularly: We have written before about the possible value of dollar-cost averaging. If you are going to invest in physical silver, we feel it is most beneficial to invest at regular intervals. Silver, like any other commodity, will fluctuate in price. Sometimes these fluctuations can be quite significant. By making a plan to purchase silver at regular intervals, you may potentially lower your overall cost basis in the long run. While sometimes you may buy silver at a higher price, sometimes you may buy it at a lower price. By not concerning yourself with the regular and normal fluctuations of the market, you may potentially be able to acquire a larger holding over time. We also recommend that you try to make extra purchases following any significant declines in the price of silver as we feel the long-term prospects for this market are extremely solid and believe that physical silver ownership should be viewed as a long-term investment. Slow and steady wins the race.
Whether your budget is large or small, you can begin building a substantial holding of physical silver today. The key, like any journey, is to take the first step.
Don’t wait for higher silver prices or another stock market crash before acting. Explore your options today.
An Advantage Gold account executive can discuss your options and show you how to begin allocating money into this key precious metals today. We can even show you how you can conveniently use your existing IRA account to buy and hold physical silver, or set up a new precious metals IRA to get started.
The Chinese philosopher Laozi once said, “A journey of a thousand miles begins with a single step.” We encourage you to take that key first step. Call us today at 1-800-341-8584.Tags: advantage gold, buy silver, invest in silver, physical silver, silver, silver bars, silver rounds