Gold may be the king of precious metals for some investors, but it's silver that many turn to for its affordability and variety. Silver has served as both a currency and commodity for thousands of years. Today, this white metal continues to hold allure and value as one of the world's most popular and affordable Precious Metal investments.
Many factors determine whether you should buy gold or silver bullion. But for many beginners, buying silver is an affordable and fun way to get started in Precious Metals investing. Its much lower price in relation to gold and its wide range of beautiful designs makes it popular with novice investors and collectors alike.
If you are wondering if silver is a good investment for you, discover some Questions to Ask Before Buying Bullion, get started on the right foot with A Beginner's Guide to Precious Metals Investing, learn about some Common Gold and Silver Buying Mistakes, and more in our Knowledge Center.
Sovereign and private mints around the world produce silver bullion. There are three main types:
Minted by the government, coins carry a legal tender face value. You can also purchase most silver coins in a Precious Metals IRA. Many coins are part of an annually-released series, making them highly collectible.
Private mints produce most silver rounds. Rounds resemble coins, but do not carry legal tender value.
Bars are generally larger, made in an elongated shape, and are easy to store and accumulate. Many people buy silver bars for investment purposes.
Which type of silver is best? There's no one answer. A well-built portfolio will contain a variety of bullion products. Many investors like to accumulate bars for their investment potential. But many also love to buy coins and rounds for their beauty and collectibility. The possibilities are endless!
“Spot price” refers to the current value of a metal. For silver, spot price represents the price of one ounce of the metal. Some of the factors that can impact spot prices include global economic activities, geopolitical news, and Federal Reserve action. Provident Metals features current spot prices on the top four precious metals: gold, silver, platinum, and palladium. Visit our silver spot price charts page for a more in-depth look at market trends.
Precious metals dealers typically charge the metal's spot price plus a premium on all products. The premium covers the cost of minting and fabricating the product. Of course, most investors want to pay as close to the current spot price as possible. Fortunately, reputable dealers like Provident Metals make it easy to buy bullion at a competitive premium over spot. If you're new to precious metals investing, a great way to start your portfolio is to buy silver at spot price. And there's no better way to do it than with a Provident Metals Starter Pack. As your trusted friend in the bullion industry, we're here to help you start your precious metals journey on the right foot!
Sovereign mints operate in connection with national governments. Their products must meet specific regulations and requirements to help ensure consistent quality. Many sovereign-minted products carry legal tender, such as coinage. Examples of sovereign mints include the United States Mint, the Perth Mint, and the Royal Canadian Mint.
Private mints operate independently of the national government. Privately-minted products often have the same metal content and purity as sovereign-minted products. But they are usually more affordable and come in a wider variety of unique designs. Examples of private mints include PAMP Suisse, Engelhard, and Johnson Matthey.
A silver coin is a round that is minted and backed by the government. Many silver coins carry a legal tender value. But as the value of the silver usually exceeds the face value of the coin, they aren't used in typical financial transactions.
Mints produce silver coins with dies that forcefully strike a blank piece of metal. The obverse (front) design for the coin uses one die, and another die is for the reverse (back) design. The die strikes bullion coins once, and proof coins two or more times.
Silver bullion coins usually have a fineness of .999. However, mints produce some silver coins with a fineness of .9999, as in Canadian Silver Maple Leafs, the Australian Lunar Series, and the Queen's Beasts series. You can buy silver coins with a fineness of .999 or more in a Precious Metals IRA.
Mints produce silver coins in a variety of unique designs, and sizes ranging anywhere from fractional weights to a kilo or more. Some of the most common coin sizes include 1-ounce, 5 oz, and kilo. But most investors prefer to buy the 1 oz weight for their affordability and tradeability.
There are many ways to store silver, ranging from your home to a private depository. Choosing the right storage method for you depends on the value of the coins you buy and your own level of comfort.
Many factors will determine which silver coins are best to buy for you. Variables such as condition, purity, and the producing mint can vary widely. So investors must take great care when purchasing from unknown sources. Rest assured that when you buy from Provident Metals, you are buying coins, bars, and rounds that are only produced by the most trusted mints in the world.
Generally speaking, market prices determine the value of Precious Metals. Therefore, some coins are more expensive than bars because they have more collectible value. For example, certified silver coins often sell for a higher price than other types of silver bullion because of their historical significance, one-of-a-kind design, or grading.
Silver coins are often made with intricate designs, which are more costly to produce than their more austere bar cousins. And many mints produce coins for only a limited time or in limited amounts. It's this scarcity that makes them extremely desirable (and more valuable) to collectors and history buffs. Also, federal governments guarantee the face value, weight, and purity of sovereign coins. All these factors often result in higher premiums on coins than bars. Deciding whether it's better to buy coins or bars is based on your investment goals and preference. Research the pros and cons of each to determine which option best suits your needs.
Why buy silver bars? The answer is easy: value. If you would like to buy silver as an investment only, then you may find that buying silver bars is one of the most cost-effective ways to own this important metal. That's because bars generally match sovereign coins in content and purity, but cost less. If you're looking to buy silver bars, you'll enjoy a variety of weights and styles to suit any budget and investment goals.
Silver bars are commonly refined into two types: Cast bars and Ingots. Mints produce cast silver bars in a rugged style by melting silver in a large vat and then pouring it into prefabricated molds. Most cast bars are stamped with only a simple refinery logo and the weight, purity, and metal content.
Silver ingots start out as cast bars, but they are further refined with sharper edges, a more brilliant finish, and intricate design elements. As you might imagine, cast silver bars cost less to produce and usually sell for lower premiums than minted ingots.
When you buy silver bars, you'll be able to choose from a myriad of beautiful designs from mints all over the world. You will also have your choice of a variety of weights, ranging from fractional weights to 1-kilo or more.
Silver bars come in a wide range of weights to suit any budget and investment goals. But most investors buy bars in 1-ounce, 10-ounce, and 100-ounce weights because they are easier to stack and trade.
You can also buy silver bars in a wide range of beautiful designs. From exquisite PAMP Fortuna bars, to beautiful engravings in both English and French on the iconic and highly-sought after Canadian silver bars, to even fun specialty silver like silver bullets and shot, there is no end to the types of bullion bars that will suit your style.
Wondering which silver bars are best to buy? It all depends on your style, budget, and investment goals. No matter what you choose, you can rest assured knowing that you are investing in a commodity that has stood the test of time and continues to be the among the safest assets to fund your investment portfolio.
When you buy silver bars, the price differences you see are usually due to the size and weight of the bar. The quality of the finish, popularity of the design, and the reputation of the producing mint also go into determining how much they cost. Browse our inventory to determine which one is best for your budget.
Counterfeiting techniques becoming more and more advanced. So investors have growing concerns about the authenticity of their precious metal holdings. The best way to ensure that your silver bullion is real is to only buy from a reputable and accredited dealer like Provident Metals. However, there are also a few simple ways to test the authenticity of your metal at home. You can do a size test by comparing the dimensions and weight of your bar to charts available online. Or, you can place an ice cube on top of your silver bullion, as genuine silver will begin to melt the ice immediately due to its thermal energy storage. And real silver does not have any magnetic properties, so your bar should not be drawn to a magnet.
Silver rounds are a convenient, low-cost addition to any investor's precious metals portfolio. Rounds are circular bullion discs of varying weights and designs produced mainly by private mints. But they are sometimes also produced by government mints.
Silver bullion rounds are minted to an equally high purity standard as silver coins. However, they have no “face value”, which means they are not recognized as legal tender by governments and therefore cannot be spent as currency. Many buyers feel that rounds are a good investment because they can enjoy lower premiums and choose from a wide range of collectible designs at the same time.
If you're looking to buy silver bullion rounds, you'll have your choice of a wide range of different weights and designs. However, like silver coins, most investors buy silver rounds that are 1 ounce or less for their affordability and stackability. Deciding which are best for you all depends on your style, budget, and investment goals.
Many privately-minted silver bullion rounds are released as a collectible series. Whether you're drawn to the allure of the High-Relief Egyptian Gods series, the anticipation of each new release in the exciting new World of Dragons series, the Wild West spirit of the Prospector series, or our ever-popular Zombucks series, you are sure to find a theme that appeals to you!
Many investors choose to buy silver rounds over coins simply because rounds get them more metal for their money. Many buyers feel that rounds are a good investment because they often get the same weight, purity, and gorgeous designs as many sovereign-minted coins, but at a lower premium over spot price. Despite being produced by private mints, rounds are widely traded and trusted in the bullion industry.
Provident Metals isn't just a top seller of precious metal coins and bars,. We also offer industry-leading prices for the purchase of gold, silver, platinum and palladium products. So when you're ready, you'll find that it's as easy to sell to Provident Metals as it is to buy with us. Call us to lock in one of the best buy prices in the industry.
Look no further. Whether you're buying silver bullion to invest, to build a collection, or simply for fun, Provident Metals is a secure place to begin your precious metals journey. We've shipped over 1 million orders through our secure online ordering process, and we are proud to maintain an A+ rating by the Better Business Bureau.
We proudly offer coins, rounds, and bars from the most trusted and respected mints around the world. With so many products to choose from at industry-leading prices, your only challenge will be deciding which one best suits your style. Start shopping with your trusted friend in the bullion industry today!