The first Silver coinage was started in 600 BC by the Turkish emperors and later by the Greeks, the Romans, the Spanish and now currently in the United States. In olden days silver is used as money and was circulated throughout the economy.
There are many more reasons to buy Silver. According to Mok Swee Meng Some of them are:
- As it is a precious metal people will buy silver and preserve it.
- People who want to expand their portfolios, buy silver coins
- Similar to Gold, People will buy Silver and also it can be used as a barrier in crisis.
- People will buy silver to pay royalty.
Basic Information to buy Silver Coins:
Mok Swee Meng advice that it is necessary for one and all to know the basic information about Silver Coins before buying it. Before buying the Silver Coins, it is important to know that how to check the price, purity and how to preserve it.
- Spot Price: The factors that influence the trading market for a trading commodity are price, supply and demand. Silver is a trading product and many investors also use a Silver for their investment purposes and for some of the industries for making in various products.
- Checking: As of today it very easy to check the price of silver because there are a number of websites and the investors can enjoy many facilities like tracking the price from period to period, for three months and six month period and for a year. Some investors compare the Silver price with other equities like stock and securities.
- Purity: Before buying Silver coins the investors have to check the purity. It may vary from country to country. Some countries contain 90% purity and some may be only 80% purity.
- Dealers: You have to buy silver from an authorized or trust worthy dealer.
- Storage: There are safe sources for gold to store; the same will be applied to the silver also.
- Taxes: The investor should keep in mind about the taxes to be pain on Silver investment.
How to Invest the Silver Coins In the Market:
The market provides varieties of silver bullion products such as Silver Coins, Silver Bars and Silver Rounds.
- Silver Coins: The investors who can buy bulk bags can buy silver coins because it contains 90% pure.
- Silver Bars: The investors can buy the silver bars as they are standard and weighs exactly 1,000 ounces and there is a serial number on it, so it is safe for the investors to invest in Silver Bars.
- Silver Rounds: These silver rounds are very popular and many designs minted on it. The investors can buy them.
When to purchase?
Mok Swee Meng can purchase the silver coins when there is an auction. For the investment purpose the investor can attend the auction and can purchase the silver coin.
A Collection of silver coins is the best way for everyone which helps in their money barriers and which can be used for the future investment purpose. Be sure to buy and invest in silver coins.