Whether you already own precious metals or you have decided to start building a precious metals portfolio, getting the best deals on silver coins is a great way to maximize your wealth generating strategy.
While it does come with its fair share of risks, having a tangible asset is a great way to not only build wealth, but diversify the way you build it as well.
Read below to learn about the five simple ways you can get the best deals on silver coins.
Buy Only Highly Liquid Coins
Coins that are produced regularly and in vast quantities will carry lower deal premiums. Think American silver eagles, Canadian silver maple leafs and Chinese silver pandas. When doing your research, see how liquid the coins are.
Buy in Bulk
What’s the reason you get such a great deal on toilet paper at Costco? Because you have to buy it by the case. Buying silver coins is no different.
Precious metals dealers will offer discounts based on quantity. Some silver coins, for example, can be purchased in 20 coin rolls. Buying 20 at once instead of 2 will lower the dealer premium attached to the coins and can allow you to get more ounces of silver coinage for your money.
Buy Online
Online precious metals dealers do not have the overhead associated with running a brick and mortar store. This lower cost of doing business can translate to lower dealer premiums, and more savings for you.
Shop Around
It has never been easier to compare multiple dealers from the comfort of your own home. Spend a little time shopping around and comparing dealer prices online. Make sure that you are comparing the same products when looking at different dealers. For example, if you want to see who offers the best deal on Canadian silver maple leaf coins; make sure to compare the exact same coin (including mint year or condition etc.).
Factor in Insurance and Shipping Costs
Shipping and insurance costs for precious metals can add up. Just because dealer A has a lower coin price than dealer B doesn’t necessarily mean dealer A is cheaper. You must also factor in any shipping and insurance costs to determine where you are getting the best overall deal.
