What are the Best Silver Bars to Buy?
There are many ways in which you can invest money in silver and buying silver bars can be the best choice when you want to hold them for a longer duration. If you are planning to hold on to your silver investment for many years, you can choose to buy bars as they are easy to store unlike other options and you need not worry about liquidity or other issues in future.
Most people prefer coins when they are buying silver in small quantities and bars when they have to buy them in large quantities. When you are having lump sum investment, you can easily choose the bars that come in the minimum size of one kilogram and this will be easy to store or move whenever it is needed in future.
If you are thinking about where to buy silver bars, you need not worry about it anymore as it is available through reliable sources. You can even buy certified silver bars from online sellers and this will help you when you are not having any contacts with local sellers. However, keeping in touch with local dealers is also an added advantage in the long run as you can easily get them delivered to your location and you will also be able to get pure quality without any problems.
It is a good idea to know about silver rate from different sources as you will get to understand the fluctuations in the market. In the same manner, you can even visit the online portals to get complete information about the latest trends in the bullion market.
It makes sense to compare the price of silver from different locations before you opt to buy them from the local dealers. The best thing you can do is to verify the silver rate in Chennai along with nearby cities so that you can get to know the exact rate of silver. Remember that due to local demand and other factors, there may be a slight difference in price and you need not to worry too much about that factor.
However, you should realize that you need to buy them from reliable sources as this will give you complete value for your money in the long run. It is also possible to get the silver bars checked for purity and this does not cost too much. In most cases, professional traders will have the equipment to check the purity and you can easily rely on such things when you want to buy silver from the local market.
In What Size Can you Get Silver Bars?
Silver bars are available in different weights and you can choose anything that suits your budget. You can get them ranging from 250 grams to about 5 kilograms in a single bar. However, the ideal size preferred by most investors is the 1-kilogram bar as it can be easily stored and disposing of them in the market becomes easy at a later stage.
When you have a 5-kilogram bar, the investment required is also too much and most investors may not prefer to buy such bars in the market. On the other hand, the 1-kilogram bar is of the idea size suited for most investors and you will not face any issues with storing them at your home or lockers in the bank. The only thing you need to be careful while buying silver is to check silver rate in Chennai or any other popular city as this will give you a rough idea about the current trending price.
This information is easily available online and you can even call some local traders to know about the current rates of silver in the market. In this manner, you will be able to strike the right deal with the traders and this will give complete value for your investment in the long run.
However, be aware that the rates keep changing every day and it can even change many times during the day depending on international market rates for silver. For this reason, you may notice some difference in price between different regions and you can negotiate the rate with your traders for some margin.
Why Silver Bars are Better Than Silver Coins?
The biggest advantage you get with buying silver bars as against silver coins is that they are less expensive and you can easily store many of them without any hassles. The silver rate for bars is usually less when compared to silver coins as the labor work involved in making bars is very less and it will not have any designs or artwork in most cases.
In this way, you will be avoiding paying premium for silver coins which will not add any value to the overall asset in the future. Note that when you want to sell coins in the market, you will not get the additional premium price that is charged for artwork and design in the buying stage. In this way, you will lose some amount of money while trading silver coins and this can be easily avoided by choosing silver bars.
Apart from that, you will also notice that once the silver starts accumulating in your place, you will find it difficult to manage the coins as they need a lot of space and chances of misplacing them are more as they are small in size. On the other hand, when you choose the heavy silver bars, you will be able to store them in very small space and this will not easily get misplaced due to its size.
You will also find it very convenient to store silver bars in bank lockers as against silver coins as they require less space. In this manner, buying silver bars is always a good choice when you have the budget to invest that much money on silver.
The Advantage of Choosing Silver Bars Over Commodity Market Silver Contract:
There are many people who are not aware of the benefits of buying physical silver and they enter the commodity market contracts for silver. Even though this has some advantages, it is only termed as a short-term investment and you cannot continue to hold the asset for a long duration. In most cases, the contract will last only for a few months and this is good only when you are doing speculative trading in the commodity market.
On the other hand, when you buy a physical silver bar, it becomes a tangible asset and you can store them for even many decades without any hassles. There is no need to depend on any contract for this investment and you will have complete control over your investment.
When you check silver rate in the commodity market, you will notice that it changes depending on the contract you enter and it can be slightly complicated for the average user. On the other hand, physical silver always trades at the spot rate for silver in the market and you will not have any problems with understanding this concept.
Where to Buy the Best Silver Bars?
In our country, banks and other institutions usually sell silver coins and they have not yet started selling bars in a big way. However, silver bars are readily available in the market and you can get them from reliable traders in your neighborhood. Apart from that, some online sellers also sell them and you can order them after confirming the reputation of the sellers. It is always a good idea to go for branded silver bars when you are buying them from online stores.
Even though this may cost you little more than buying silver from the local stores, you will have quality assurance when it is coming from reputed sellers. However, buying them from the local traders or the jewelry stores is the best option as you get ready access to silver bars at any time of your choice. You can even buy them in any quantity and this can be stored at your home or in your bank lockers.
Yet another advantage of choosing the local suppliers is that they will also buy back silver from customers and you will have a good place to liquidate your investment at a later stage. As these suppliers trade regularly, you need to be aware of the current rate of silver in the market before you deal with them. Make sure that you verify the silver rate in Chennai so that you will have some clarity on the latest price. This will help you to negotiate with the suppliers in a better way and you can make the best use of your investment.
How to Safely Store Silver Bars?
While you can easily store silver bars at your own home without any problems, it can become a security issue when your investment size is too big. Remember that silver does not rust or get damaged due to external factors and you need not worry about such damages when you store them at your home. However, when you have a large number of silver bars at home, you have to provide suitable security as some theft or another incident can make a dent in your investment.
For this reason, you should always store them in bank lockers as this will safeguard your asset for many years and you will have the option to take it back whenever you need them in the future. Note that the banks may charge some money on an annual basis and this will be very less when compared to the security it provides for your assets.
You can even store other valuables and important documents in this manner and safeguard your investment. When you are aware of the silver rate in the market, you can remove the investment at the right time and get decent profits out of your investment.
Good Returns From Silver Investment in the Long Run:
Investing your money in different assets is the best way to reduce your risk in the long run. When you consider investing money on silver, always prefer the physical form of silver as this will help you in many ways in the future. There is no need to worry about storing them for many years and you can even pass it on as assets to your next generation.
Some people also invest in such silver bars so that they can be used as gifts for important occasions like marriage in the family. You can track silver rate in Chennai and other cities to know about the current price and this is needed when you have a good quantity of silver at your home.
It makes sense to dispose of some part of your investment when the rates are high and you can get decent profits in this manner. Remember that you can always buy back silver again when the rates dip in the market.
The silver rate in the market keeps on varying depending on many global factors and you can take advantage of this situation when you have a decent amount of investment in silver. Always keep some cash ready for emergency purchase and this will help you to take advantage of price fluctuations in the market.
Do not hesitate to sell your investment when you are getting profits. Always keep buying and selling some part of your entire investment as this will provide liquidity whenever needed and you can also take advantage of market volatility.
Average your Silver Purchase:
The golden rule of investing is to avoid buying silver bars in one go and you should always track silver rate regularly and split your investment. In this way, your purchase price will be different and you will not get stuck at very high rates.
The cost averaging method will give good results in the long run and you will always be able to make decent profits with your investment.
Which One is Better? New Silver Bar or Old One:
When your objective is to just invest money on silver bars, you need not worry if it is an old one or brand new bar coming from the supplier. In fact, old silver bars may cost you less money and you can verify the silver rate in Chennai for such bars. In this way, you will be able to save some money on your investment and this will add up to your profits in the future.
Price calculator according weight nearest popular city
- Most Read
- Importance and Ways of Investing in Silver
Date: 12 December 2019
- A Beginner’s Guide to Silver Investment
Date: 04 December 2019
- Things to Know Before Investing in Silver
Date: 14 October 2019
- Some Interesting Facts about Silver
Date: 03 October 2019
- Silver Investment in India - Good or Bad
Date: 30 September 2019