How to Buy Silver

Buy it here at APMEX

TL:DR? Buy from the top sellers section and stick with the APMEX coins, American Eagles or the Buffalo Rounds.


Why would you want to buy silver?

Basically its a hedge against inflation. You’re unlikely to get rich, but this should be a better protector of wealth than stuffing your cash under the mattress. The Federal Reserve had recently been printing money as fast as they were capable of. They call this Quantitative Easing. Cut to Margot Robie in a jucuzzi: When you hear Quantitative Easing think Money Printing.

If you are long(own) cash, that means you are frustrated by the increasing money supply and inevitable inflation. Silver is a hedge against this. Now, interest rates are going up, but still low. Silver is a better hedge when rates are low, but it has it’s use in a diversified portfolio at any time. Aim for about 10% of your wealth to be in gold and silver.

When should you buy?

Personally, I buy a chunk whenever I have a big month. And I try to buy silver a few times throughout the year. This will help you avoid buying at the high. Remember, this is a long term hedge and not a get rich quick scheme.

There are two things to watch when looking at silver prices. First, the price over spot. APMEX is fairly reasonable with this unless you buy their novelty items like my silver bullets pictured above. Stick with the Silver Eagles and APMEX branded coins. These will be well recognized and reasonably priced. APMEX branded coins are often only a dollar over spot.

The other part of price is the commodity price of silver which trades on the Chicago Mercantile Exchange. Like oil or other commodities, the price will fluctuate. Which is why it’s best to buy it over several months rather than all at once. You can even set up price alerts on APMEX’s site if you want to see the price drop to a certain level. The site also has charts showing the historical prices of these precious metals.

I Ain’t Saying She’s A Gold Digger

APMEX also sells gold coins but you may not have the funds to buy these. Gold is trading for around $1,300 an ounce as of February 2019. This is for heavy hitters…. and pimps. As your income climbs though, it may be easier to store your wealth in gold than in silver. A mix of both works.

You can even buy gold on Amazon, but the price is cheaper on APMEX.

Buying Gold and Silver Jewelry

If you want to buy silver or gold that is more decorative, you can also opt for jewelry. I wear a ring that is similar to this one here. Now you’ll be paying up for the craftsmanship, but it also is more practical. And this still can be effective for wealth preservation. I have a gold chain I wear at times that has increased in price 4 fold since I bought it many years ago. And I’ve been able to wear it often.

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