Buy silver junk, that’s the question isn’t it? If you’re smart you would. With all that is happening in the world financially it would be a good idea to invest in something other than greenbacks. So why not buy junk silver? Heck, I’m sure you have some lying around your house right now, if by chance you do, keep it. So why silver you ask? Well, for one main reason, it’s a lot cheaper than gold. Who really has $1,700+ an ounce for gold anyway? It’s much cheaper to buy silver junk at roughly $30 an ounce. So let’s go over what kinds of silver you can get your hands on.
Buy Junk Silver, The Options
1. Silver Coins – This is probably the most common way to invest in silver. Many people have come across old silver coins when they are getting change at a convenience store and don’t even know it. Then they’ll spend them somewhere else not realizing that they just spent a few bucks, not .25 cents. There are two easy ways to tell if a coin is silver. 1. On the sides of all us coins there is a distinction between the metals used in making the coin. I’m sure you’ve noticed it, it’s copper and nickel (looks like silver). On a true silver coin there is no line/distinction, it’s all silver. 2. Silver coins make a different sound when dropped on a hard surface. They sound like aluminum, almost fake like. So next time you get change at a store, check your coins, you might have a little jack pot.
2. Silver Bullion – This type of silver usually comes in bars usually ranging in size from 1 ounce to 100 ounces. This is going to be .999 pure silver where as silver coins are 90% silver and 10% other metals. People invest in these for bulk. More commonly though, these will be held in financial institutions and banks.
3. Silverware and Hardware – Feel like raiding the ole’ China cabinet? Not recommended if you’re married and it’s the wife’s inherited China. Old silverware and hardware is another way people invest in silver. You can find this type of investment at garage sales, antique shops, abandoned storage units that are up for auction or even on sites like Ebay. This is not a very popular way to invest in silver buy hey, it works.
4. Buy Silver Junk – Now when I say, buy silver junk, don’t take it the wrong way. This mainly comes in the form of old silver jewelry. I’m sure you have some old silver jewelry lying around the house, I know I do. Funny thing is, it’s now more valuable than ever. This is probably going to be the cheapest way to invest in silver. You can even buy junk silver on places like Ebay, pawn shops or even jewelry stores themselves. Junk silver has no intrinsic value like an old silver coin would or antique silverware. It’s just junk and can be bought slightly above the going rate per ounce in most cases.
Buy Junk Silver or Silver Coins?
So there they are, 4 places to invest in silver. If it were me, I would invest in silver coins first, which I have and then buy junk silver on the side. To find the latest price on silver or gold per ounce you can visit a site called silverprice.org. This is helpful when investing in silver coins or even just buying junk silver. Don’t wait though; I have heard rumors of silver going to as much as $100 an ounce!
So as you can see, even experts are hedging their bets on silver. So whether you decide to invest in silver coins or simply buy silver junk, just make sure you do it soon.
image source: SellSilverStore.com