It is said that silver is money for masters and debts are for slaves and gold is for kings. There are several rules you can follow if you want to invest in precious metals. These rules are not set in stone. They can break. The following is a guide you can use to keep yourself on track when silver goes up and you are not sure if you should buy silver bullion Brisbane or not.
# 1. Always take physical delivery
If you buy silver gold, you get it yourself. As a silver buyer, make sure you actually get a physical supply of your metals. To unlock the true potential of any investment such as silver you must physically buy it. Paper silver ETFs are operated by the very banks that are often accused of market manipulation. You want to avoid a scenario where you are beholden to the whims of the banking system.
#2: Don’t overpay with silver
Remember that silver and gold may be substitutable and sold based on the weight of the pure metal. The old silver bars you inherited from your grandfather might be scratched and dusty but they have about the same value as any silver bar once it’s melted and refined. You should try to pay a close look at the silver spot price. Collecting unique silver is an art – but never an investment. There are many expensive mistakes in the unique coin collection that beginners can make, so to be safe stick to the usual 1-inch government coins, such as the Silver American Eagles and Silver Maple Leafs, clearly marked with .999 fineness. Avoid commemorative coins, decorative items, and other collectibles, all of which have large premiums and limited retail markets.
# 3: Start small, simple
Too many investors who choose to expand the metal part of their portfolio are buying large amounts of physical silver at the same time – and in bad forms. A good strategy for a novice is to set aside as much money as they can afford each month and buy the same amount each month; For example, buy 3 or 4 silver American silver eagle coins instead of 500 coins all in one go.
#4: Be careful of seasonal buyers
Recent highs in the silver price range have brought new investors to the silver market and portrayed central bank fiat currency in a negative light. Banks don’t like this and might try to counter by flooding the market with silver shorts to bring the price back to a new high. The markets always self-correct so instead of jumping in, it’s better to wait it out before you buy silver bullion Brisbane.
#5: Learn how to avoid counterfeit silver
Historically, this has not been easy with silver for many counterfeits, because its low price compared to gold means that it is not worth the time and effort. This has changed because of the rising price of silver. In recent times we have seen a rise in counterfeit silver coins and bars with a growing number of online sellers trying to deceive buyers into believing they have a solid good deals. Buyers should be trained before purchasing to make sure the seller is trustworthy and the product matches the advertisement.
#6: Little information can mean a lot of money
You need to be constantly educated about important things like money, government, free markets, and how it all relates to and affects our daily lives. You need to learn more before you buy silver bullion Brisbane so that you can better prepare for what is to come. Use online resources to find the best prices for your investment. Consider reading some books on the history of silver and its role in society and politics. Study booms and crashes and how silver in both scenarios. Find out how everything goes from currency failure, devaluation, and currency strength. As a silver investor, you are a commodity investor. You need to study how the commodity markets work and how it relates to currency fluctuations and general market conditions. Knowledge is golden, and the more you have, the better prepared you will be to make sound decisions.