The internet has allowed for silver buyers to make their purchases with more ease than ever before. Not only do you not even need to leave the comfort of your own, but you will also be able to shop from a larger catalog, find better prices, and even better quality. In the 21st century, there really aren't too many reasons why you shouldn't be buying all of your silver online.
Coins, bars, and all different types of bullion can all be ordered from your computer. Needless to say, there are a whole lot of dealers that you will be able to choose from. While picking out your dealer of choice is certainly a necessity, it is not the only thing that you need to do. Buying silver online is a very simple process, especially wants you get just a bit familiar with how it works.
How the Process Works
The actual process of buying silver on the internet could not possibly be more straightforward. All that you need is a computer, a credit or debit card, and a few minutes of time. After you have found the website that you are going to buy from, all that you need to do is determine what you are going to order. After this is done, you will make payment, enter your personal details, and the metal will be on its way to you. You can easily place an order for real, physical silver in no more than 5 minutes time. It is safe, practical, and most importantly, it's a wise investment.
Online Silver Websites
The first thing that any potential silver buyer needs to understand is that retail silver websites work in just the same way as any other retail store. You will order your items from a catalog, add them to your cart, pay for them, and they will be mailed to your door.
Physical silver is not something where you will need to hire a stock broker, make an account for trading stocks, or anything along those lines. If you are looking to invest in silver ETFs instead of the actual metal itself, that is a whole different thing. The best way to go about investing in silver, however, is definitely buying the real physical metal that you can hold and feel. After all, if you only wanted paper, you would keep your currency.
Choosing a Silver Dealer
Selecting which dealer you would like to buy from is undoubtedly one of the most important things that you will need to do. There are many different things that you should look for in any dealer before you decide to actually make a purchase. The checklist you should always consider includes….
-Complete Catalog of Items
A thorough selection of items to choose from is one of the telltale signs as to whether a silver website is or is not legitimate. Rinky dink websites with few items, only coins, or anything along those lines is much more likely to cheat you or leave you unhappy than a dealer with plenty of items to choose from. A good site will offer bullion in the form of bars and rounds in addition to a plethora of coins, both numismatic and standard issues.
Fair pricing is a prerequisite, or at least should be, for literally any item that you ever buy. Fair prices are always going to be relative. For example, an American Eagle might cost $5 over spot whereas a bar should not cost much more than a few dollars over spot. If you want to best gauge whether or not a dealer has realistic prices, compare them to a few other sites or call one of your local brick and mortar stores.
A positive reputation doesn't need much further explanation. Check out reviews, read their BBB record, and make sure that the company does not have a history of cheating their customers. For example, if you plan on buying from JM Bullion, you may want to read their shopper experience ratings to get a feel for how their customers feel about them.
-Safe Payment Processing
Often times a purchase of silver will involve a significant amount of money. In these cases, you should always take precautions to ensure that your money is safe. Use a credit card for smaller orders, and pay by check for larger ones. Don't leave yourself open to fraud by paying via money transfer services such as Western Union or MoneyGram.
A good silver dealer will not only pack your items securely, but they will also have tracking on each and every shipment. In addition to this, insurance should always be added to prevent against any of your items being either lost or stolen. Some dealers also offer free shipping.
-Reasonable Return Policies
Though very few people will ever have an actual need to return their silver items, it is worth checking that a logical return policy is in place. Most all dealers will charge a slight fee for returns, but this is better than not being able to return items at all.
If you are able to effectively check off each of these areas when you place your order, there is little doubt that you are working with a company that is well worth your time. If the dealer you are planning to buy from does not satisfy this complete criteria, however, your best bet is to look elsewhere.
As you can plainly see, making the effort to research the credibility of an online silver website is not nearly as difficult as it might seem. Take the time to find a great dealer and you will have nothing to worry about. For more information and guides on the top silver dealers, reference our article library, or also learn about buying silver in Canada or silver on eBay.