Types of Silver- A Guide to Make Huge Profits in Silver Investment
Investment is not as easy as it may seem. Neither is it very difficult. You need proper understanding of market and the commodity you are going to invest in. Apart from stocks and gold, you can also invest in silver. However, there are different kinds of silver available in the market for investment.
Here is a list of the types of silver and its use.
1 Oz silver coin
Unlike old US silver coins, these coins are identifiable and are made up of .999 fine silver. Expected across the globe as silver bullion, these are one of the safest coins to invest in silver. American sliver eagles coins that are minted by government are also legal tender at USD 1.
These coins are made up of fine silver which is used extensively for trading. You can buy fine silver bars, ingots as well as coin for investment. The silver bars can be minted anywhere but the coins are minted in specific locations. Moreover, they are minted in limited amount which increases their value.
Junk silver coin
Also known as pre-1964 silver, junk silver coins are the one which does not have any value addition other than the bullion silver content. It is a good bet because some of these old coins are rare and thus will become more valuable with time. Moreover, they are found with little or no premium at all.
1 Oz silver rounds
If you are buying 1 Oz silver rounds also called the generic 1 Oz rounds, you should go ahead with a well-known mint. The reputed mints produce rounds which has clearly marked purity and weight standards. These mints are also produced by non-governmental organization such as Sunshine minting company, Northwest Territory mints etc. these companies are audited regularly and you can rely on the quality of silver rounds.
You can trade in market without a need to specially go and buy silver. Certificate or bond stating the amount of silver and the price at which it was purchased can be used for trade exchanges and ultimately the one willing to buy the silver can go ahead and get the original silver bars or coins.
Apart from the conventional way of buying bars for silver investment, these other kind of silver are also good option. If you are also considering buying silver for investment in near future, read and decide what the best method is.