How to Buy Silver for Beginners – 5 Min Video

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What is up YouTube Silver dragons here And in this video I'm going to talk About how to buy physical silver if you Want to buy it as an investment or Long-term savings for whatever reason I'm going to talk about how to buy it Where to buy it what type to buy all of That kind of stuff and this video is Going to be under five minutes long so Let's do it Thank you so much for watching I do Sincerely appreciate it let's get right Into it because we don't have a ton of Time so the first thing you need to know Is that the most common size when it Comes to Silver is the one ounce size so All of these coins right here and all of These rounds right here these are all One troy ounce now when someone says the Silver is one ounce they're talking About a troy ounce a troy ounce is a Little bit heavier than a regular ounce So you know when you go to the Supermarket and you put something on the Scale that's a regular ounce or ever do Pois ounce but precious metals are Bought and sold in troy ounces so you Can actually see on this particular coin Right here it says one ounce fine silver At the bottom but it's actually Referring to a troy ounce a troy ounce Is around 31.1 grams it's about 10 percent heavier Than a regular ounce so if you ever go

On a website that says you know one Ounce silver rounds or it says price per Ounce it's always referring to a troy Ounce even though it may not say that Now speaking of price when you go to buy Your silver it's based off of what is Called a spot price now spot price is Essentially the cost for one ounce of Silver that's been mined out of the Ground but it's not yet been refined or Turned into a coin or anything like that It's just a raw silver So when you buy Coins they actually cost more than spot Price because it obviously takes money To turn a raw piece of silver into Something like this and the amount over Spot price you pay is called the premium So let's say the spot price of silver is 25 And this particular coin costs thirty Dollars well that means there's a five Dollar premium on this particular coin And typically when you're buying silver You want to pay the lowest premium Possible now where do you buy silver Over at well there's really two places You can buy it at number one is a local Coin shop or bullion dealer in your area The other place is a trusted online Bullion dealer now here's a pro tip Before you buy any silver try and find a Coin shop in your area go down there and Talk to them see what they sell see what Their prices are because when you go to

Sell your silver in the future it's very Possible you'll go to that coin shop Nearest you to actually offload it so Have an exit strategy before you ever Buy a single ounce but if you're going To be buying silver online you want to Make sure you go to a large trusted Online Boolean dealer I have been Recently using bullion Max I have Personally bought from them several Times and never had a single issue I've Even talked with their customer service Manager and he's happy to help out new People who are just getting into silver So if you have any questions you can Always give them a call but when they Package up your items they actually film So if there's any problems down the road They can pull up the footage and say This is exactly how many of each coin we Put into the package so it's extremely Secure they're very trustworthy and if You're just getting into silver this is A great place to start to get the best Price when buying locally always pay With cash and if you're going to be Buying online use a check or E-Check or The ACH feature where you link your bank Account so you don't have to pay any Additional fees like debit or credit Card fees now the biggest question Everyone has is what should I buy when It comes to purchasing silver well There's three main categories that I

Recommend right now that is your silver Coins your silver bars and your silver Rounds now if you're just starting out I Recommend buying in the one ounce size Whether it be coins rounds even bars They all come in a one ounce form this Is the best size to stack when you're Just starting but really anything from Any one of these categories will be fine To purchase I would just say try and Keep the premium as low as possible Typically coins have the highest premium So if you do want to buy silver coins Which are produced by Sovereign mints Around the world look at the different Options available and try and buy Whatever's the cheapest if you do want To buy silver bars and you have the Money you can get larger sizes like 10 Ounce kilo even 100 ounce silver bars And this will lower your premium as well And rounds are always a great option for New stackers it doesn't matter what Design they have just try and buy the Cheapest ones available thanks for Watching silver dragons out

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