There are various ways for investors to buy silver near spot price. Unfortunately, it is relatively difficult to buy silver at or below the spot price. This is due to scammers, the tediousness of searching through scraps, and the time commitment needed for some search methods. However, the following methods of buying low-cost silver are generally low-risk for investors and can prevent portfolio depreciation. Read on to learn the best ways to buy silver near spot price.
Take Advantage Of New Customer Discounts
Many silver sellers offer new customer discounts that allow investors to purchase silver near the current market price. These discounts are a great short-term buying method for beginners. They are relatively common and are used to incentivize new customers. For this reason, they are not usually a red flag for a fraudulent business. However, it is still important to research the seller to ensure they are legitimate. Any discount that is below 98% of the spot price is probably too good to be true. For beginners, the best way to start buying silver near spot price is by taking advantage of new customer discounts.
Buy When Companies Have Sales To Get Rid Of Inventory
A good way to buy silver near spot price is by purchasing during company sales meant to get rid of excess inventory. While many businesses hire a supply chain consultant to eliminate this problem, some still have overstock to sell. You should keep a close eye on different sellers to seize these opportunities. However, you must also be more careful about researching sellers. Many scammers offer so-called sales or discounts to trick people into buying from them. You should only buy from well-established companies that have solid reputations. Despite this method of buying silver being the riskiest on this list, it can be very useful if you do research on sellers to ensure their legitimacy. Investors can often buy silver close to spot price by taking advantage of these sales.
Purchase In Bulk
One of the best ways to buy cheap silver is through bulk purchases. Many sellers offer discounts for investors who buy in large quantities. Due to fluctuations in the market, sometimes these discounts can bring the cost down to spot price or less. To get the best value from bulk purchases, you need to keep a close eye on the market. This method of buying is great for experienced investors. However, it is not recommended for beginners. You should be confident in your silver investing skills before risking larger quantities of money. Investors confident in their skills can benefit greatly from buying silver in bulk.
Buy Large Silver Bars
One way to spend less on silver is to buy large silver bars. Generally, silver bars are closer to spot price than coins. Furthermore, larger bars have lower premiums than smaller ones. The best size to purchase is the 1000 oz bar, which is the largest available. Large silver bars are more cost-effective than other forms of silver, but they do have some drawbacks. The major concern is that large bars are not easy to split up, which makes them more difficult to sell. You should be prepared to deal in these greater volumes before deciding to buy 1000 oz bars. If you do not anticipate this being an issue, buying large bars is a good way to purchase silver near spot price.
Purchase Junk Silver Coins
To buy silver near spot price, you can collect junk silver coins. Junk silver is any coin minted before 1965. These coins have little collectible value, but they do have high percentages of silver. The easiest way to buy junk silver is by purchasing coin bags. However, if you are willing to put in more time and effort, you can get the best prices at coin shops and antique stores. You might even find an online antique store selling silver. For investors who want to buy silver without having to search for it, coin bags are an easy and affordable way to buy silver. Purchasing junk silver coins is a good way for both beginners and advanced investors to secure near market price.
These five methods are some of the best ways to buy silver near spot price. First, you can utilize new customer discounts. Second, you can take advantage of company sales to get rid of inventory. You can also purchase silver in bulk to get discounts. Furthermore, buying large silver bars are good ways to save money. Lastly, you can buy junk silver in coin bags or in coins shops. By choosing one or more of these methods, you can effectively buy silver near spot price.