- 1). The first step is to learn about the various forms in which the silver is available for investing. You can find out by talking to authorized silver dealers at various retailers. Three types of silver are silver nuggets, silver bullion bars and the silver bullion coins.
- 2). Next step is to find out the list of the authorized dealers for silver. These authorized dealers will sell the silver in the form of silver bars or the silver coins
- 3). Check out the dealers' contact numbers and the years they have been business for determining whether they are authorized dealers
- 4). The next step is to find out the purity of the silver. In most cases the silver purity indicates the amount of silver which is there in the silver bar or the silver coins. In most cases, they are stamped as 999.00, which will mean the 99 percent purity. It can be even more.
- 5). Next, find out the premium which will be charged for each type of the silver bullion. For example, the one kilo bar will be charged lesser premium than the small one ounce coins.
- 6). Check the spot price of silver and then calculate the price of the silver bullion or the silver coin. This price can be obtained from Monex or Nymex website, which gives out the live spot prices. These spot prices are in ounce. If you get the weight in grams then the conversion factor is one ounce equals 31.03 grams.
- 7). Check the stock exchange site for any silver ETF's. This is not exactly about owning the silver directly, but this will help you invest in silver indirectly.
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