Here are answers to some of the most common questions about buying physical silver.
Getting Started
How do I start buying silver?
The best place to start is our Buying Silver 101 guide. It covers the basics of what silver to buy, where to buy it, and what to look for.
How much silver should I buy?
This depends on your financial situation and goals. A common recommendation is to allocate 5-10% of your investment portfolio to precious metals. Start small and build your stack over time.
Where can I buy silver?
You can buy silver from:
- Local coin shops - Great for seeing products in person and building relationships
- Online dealers - Larger selection and often competitive pricing
- Private sellers - Estate sales, auctions, and individual sellers
Types of Silver
What's the difference between coins and bars?
Coins are government-minted legal tender with a face value. They typically carry higher premiums but are highly recognizable and liquid.
Bars are produced by private mints and usually have lower premiums over spot price. They're more cost-effective for larger purchases.
What is "junk silver"?
Junk silver refers to pre-1965 US coins (dimes, quarters, half dollars) that contain 90% silver. They're called "junk" because they have no numismatic value - you're just buying them for the silver content.
Should I buy numismatic or bullion coins?
For most investors, bullion is the better choice. Numismatic coins carry premiums based on rarity and condition, which may not be recovered when selling. Bullion is valued primarily for its metal content.
Pricing
What is "spot price"?
The spot price is the current market price for immediate delivery of silver. It changes throughout the trading day based on global supply and demand.
What are premiums?
The premium is the amount above spot price that dealers charge. It covers minting costs, dealer profit, and market demand. Lower premiums mean more silver for your money.
How do I avoid overpaying?
- Always know the current spot price before buying
- Compare prices across multiple dealers
- Calculate the premium percentage: (Price - Spot) / Spot × 100
- Consider our tips on saving money
Storage & Security
How should I store my silver?
Options include:
- Home safe - Convenient but requires security measures
- Bank safe deposit box - Secure but less accessible
- Private vault storage - Professional security, often insured
Does silver tarnish?
Yes, silver can tarnish (darken) over time due to exposure to air and sulfur. This doesn't affect the value of bullion. Store silver in airtight containers or capsules to minimize tarnishing.
Selling
When should I sell my silver?
See our guide on When to Sell Your Silver for detailed strategies. Generally, you should have a plan before you buy.
Where can I sell silver?
You can sell to:
- The same dealers you bought from
- Local coin shops
- Private buyers
- Online marketplaces
Still Have Questions?
If you didn't find your answer here, check out our detailed Buying Guides or Contact Us.