It’s simple enough for anyone to purchase silver bullion and coins at the cheapest prices, but does take time and research. When shopping for silver at local precious metal shops, the best advantage you have is to know the ever-changing market price of silver. Having a convenient app on a smart phone or a pad that can hook up to the internet will provide you minute-by-minute prices. You can negotiate prices with the dealer as you discuss the current spot price and volume of sales. Buying larger amount of gold in bags, 1,000 oz bullion bars, or coins in monster boxes will allow you to ask for a discount.
Unique Buying Methods
There are many other not-so-standard ways to buy silver cheaply. Take a day and visit yard sales. Look for unwanted jewelry that is silver and check the item to see if it’s marked with sterling or sterling silver engraved on the piece. Silver dishware and flatware is common but not worth much if they’re silver plated. Look for the word sterling or sterling silver under the item. And know the dates of coins that are made with 90% silver or other coins that are made from silver.
Thrift stores are another great source for buying silver cheaply. Again, search for unwanted silver jewelry, flatware, dishware, or coins, and look in the children’s section. Many times costume jewelry such as bracelets, are made of silver. Pawnshops are another place to get cheap silver prices. They don’t always keep up with the changing silver prices and may have their items marked at prices lower than the current worth when you visit.
Another simple way to be sure you’re getting the lowest price when buying silver is to have your smart phone or pad online to check Ebay to see completed sales for silver items similar to what you’re looking at. This will give you an idea of that day’s current selling prices. These are all easy and accessible ways to provide information on silver prices as you shop for the best price.
Cheap Silver Online
Online silver purchases will not be as flexible, but by reviewing many sites within the same period of time in one day shows you trending prices and how low or high online dealers go. Normally, the largest dealers will have the highest prices compared to smaller dealers. Many local precious metal shops have websites, and will negotiate with customers. Once you find items online, you can visit the actual shop and see the item and offer a price lower then what they are asking.
If you’re happy with simply buying junk silver, which really isn’t junk, a small and tedious habit can be to purchase rolls of coins at a bank and go through the coins looking for the dates that were produced with 90% silver. Replace the coins you kept, return the coins to the bank, and then go back another time with more cash to trade for coin rolls. You may want to be courteous and space out your treasure hunting visits.
Finding the cheapest prices on silver is not a simple act of just find the lowest price, but a creative process that pays off.