Many beginning and seasoned veteran precious metals investors ask the question: How Can I Get the Best Silver Prices?
For many, browsing numerous websites of online dealers and comparing the prices of similar products is way they’ve been doing it for years.
Take for example the price of 2019 American Silver Eagle coins. The typical premium over spot price can vary from $3 to over $5 per coin. With the spot price of silver hovering around $15 per troy ounce, the markup is 20-30%.
When you compare that to generic 10 oz Silver Bars, the premium that dealers charge over spot price ranges from around 70 cents to $2.00 per troy ounce. The dealer premium over spot price range for 10 oz Silver Bars is much lower, only around 4.5% to 13%.
Investing in silver, gold and other precious metals is typically seen as a long term investment or hedge against inflation. While the price of silver and gold is likely to rise over time the premium that you pay when you buy is difficult to recapture down the road when it becomes time to sell.
Sovereign coins, such as Silver Eagles and Canadian Silver Maple Leafs, that are government backed, often retain some of their premium on the secondary market. Even though the price of silver can swing dramatically over the course of a year, waiting until you’ve recaptured the premium you paid over spot price can feel like an eternity.
Finding the lowest premium over spot price is the single most important factor that investors use in making purchasing decisions. FindBullionPrices.com compares the dealer premiums across all of the major online bullion dealers in a single place.
We pull prices from bullion dealer websites’ 24 hours a day, seven days a week to provide investors with the information they need to make purchase decisions at the time they are ready to buy silver.
