The quick answer to this question is that there is no specific answer. The best type of silver for one person is not necessarily the best type for another. The first thing that you should do is to consider what you are looking to do with silver. Do you want to invest, collect, or do both? Once you have answered this question, you are on your way to finding the best type of silver to buy for you.
In short, there are two different primary types of bullion. The first and perhaps most well known category of silver is coins. Coins consist of any items that are minted by government bodies. You can view a full list of the most popular sovereign coins in the world by checking out our section here.
The second type of silver falls into the general bullion category. This silver encompasses everything from bars to rounds and everything in between. For the most part, non coin silver items were made with investors in mind, though there are always exceptions to this rule. Now that you know what to choose from, the next step is to decide which makes most sense for you.
Best Type of Silver for Collectors
For collectors, silver coins are almost always going to be the best type of silver available. There are many reasons why collectors prefer coins over bars or rounds. First, coins have the aestethic appeal that other forms of metal just don't offer. They carry uniue designs and markings that allow them to stand out from the crowd. Secondary is their natural scarceness and rarity.
Bars and rounds have always been in constant and relatively undying supply, making them readily available to anyone who wants them. With coins, however, sometimes there is just not enough to go around. Beyond this, a coin can't be artificially reproduced in the same way that a bar can be. The true rarity in a coin is one of the biggest reasons why it is so appealing.
The best type of silver coins for collectors on a lower budget will usually be brilliant uncirculated versions. These are mint copies of coins that are not graded, proof edition, or otherwise exponentially valuable. In most cases, especially when it comes to annual releases, brilliant uncirculated coins can be orders for just a few dollars over spot per ounce.
If you have a bit more money to spend and are interested in collecting coins, anything from rare issues to high grade and proof coins will be of interest. There are more and more things to look for in silver coins as the prices increase, so you should do some research before you buy. As a buyer on a larger budget, you will have more options when it comes to silver coins to choose from, with the most individually appealing items being the best type for you.
Best Type of Silver for Investors
For investors it is hard to go wrong when choosing the best type of silver to buy. As a general rule of thumb, pure silver is a matter of buying for the lowest price possible. The brand, for example, is not something that will usually affect the value of a bar. There are some cases where rare editions of bars or rounds do exist, but they are not the norm.
The biggest thing to look for in choosing the best type of silver for investment purposes will be weight. You will be saving money in the long run if you are able to purchase larger pieces. For example, a 10 oz. bar of silver is going to cost less overall per ounce than 10 individual 1 oz. bars. The ultimate goal in investing with silver bullion is to get the lowest price per oz., and this is definitely the easiest way to do it. Of course, many buyers do not have the means to buy in bulk, in which case simply choosing the most affordable smaller pieces is most logical.
If your choice comes down to whether bars or rounds are better, you don't have a lot to stress out about. The most common difference between a bar and round is found in the weights available. Most rounds are going to be 1 ounce in size whereas bars can be found in 1 oz., 5 oz., 10 oz., and even much larger. There are some 2 oz. and larger rounds out there, but they definitely are not nearly as abundant as their bar counterparts. It comes down to which is going to cost you the least per ounce, which you personally prefer, and which is available. In the end, provided you are paying a roughly equal price, rounds are indifferent from bars, and vice versa.