Though silver has been a popular commodity for millennia, the metal has recently enjoyed an uptick in investment demand. Part of the reason is because silver has more industrial applications than most other precious metals. If you’re interested in adding silver bullion to your precious metals portfolio, consider the following tips:
Find a Reliable Vendor
Silver is a common commodity, and unfortunately, there are always individuals who are looking to exploit others. If a deal seems too good to be true, it probably is. You should be fine as long as you buy your silver bullion from a reliable vendor with a good reputation. Going through the U.S. Mint’s website and doing some quick internet research can help you determine whether your chosen vendor is reputable.
Store Silver Very Carefully
Whether you buy bullion coins or bars, proper silver storage is extremely important. If you decide to keep your silver at home, make sure you keep it in a space that isn’t too humid. It’s also a good idea to keep it in a secure location, such as a fireproof safe. To better secure your silver bullion, consider storing it in precious metals depository. Keeping your silver in a depository eliminates the cost of shipping silver and is overall a very convenient option.
Pay Attention to Silver Prices
An important part of investing in silver bullion is knowing when to sell. To get the most out of your silver investment, keep a close eye on silver prices and work closely with a precious metals expert. The price of silver reached an all-time high in 2011, and is on its way down again, making now a fairly good time to buy. Investing in silver is all about patience—many investors wait years before they sell.
For more tips on investing in silver, call California Numismatic Investments at (800) 225-7531. If you live in the Los Angeles area, we’ll gladly help diversify your investment portfolio with smart gold and silver purchases. Visit our website to learn more about why investing in precious metals is a great idea.