Best Places to Buy Silver

Written By
G. Dautovic
Updated
December 24,2024

Affiliate disclosure: The owners of this website may be paid to recommend Goldco or other companies on this page. The content on this website, including any positive reviews of Goldco and others, may not be neutral or independent.

Investing in precious metals has never been easier, all thanks to the internet. Nowadays, everything is available at the push of a button, making many people eager to set up shop and offer gold, silver, and platinum trades all across the US.

Choose a Trusted Seller

Money Metals Exchange

Money Metals Exchange Logo
OVERVIEW

The award-winning website Money Metals Exchange offers a diverse portfolio of precious metals, including silver, gold, and platinum. It also offers precious-metals IRAs and secure storage for your silver.

METAL:
Gold, silver, platinum, palladium, rhodium, copper
PAYMENT METHODS:
Bank wire transfer, BTC, credit or debit card, money order, PayPal, or check
BUYING OPTIONS:
Physical delivery, storage, savings plan

APMEX

APMEX Logo
OVERVIEW

APMEX is one of the largest online silver traders in the United States. Whether you’re a collector or an investor, chances are you’ll find everything you’re looking for, as APMEX offers over 20,000 items.

Metals:
Gold, silver, palladium, platinum
Payment methods:
Credit/debit card, check, e-check, bank wire, PayPal, BTC, BCH, ETH, WBTC, DOGE, GUSD, USDC, PAX, DAI, and BUSD
Buying options:
Physical delivery, storage

Silver Gold Bull

Silver Gold Bull Logo
OVERVIEW

Silver Gold Bull is a highly rated trading site with a vast selection of products for purchase. It also has many frequent sales and discounts on higher quantity purchases.

METAL:
Silver, gold, platinum, copper
PAYMENT METHODS:
Credit card, PayPal, eCheck, wire transfer, cryptocurrency, check
BUYING OPTIONS:
Physical delivery, storage

Why Invest in Silver

It’s not uncommon to see silver getting overlooked in favor of gold, at least when it comes to investing in precious metals. However, silver has proven to be a very wise investment choice.

Here are just a few reasons you should consider investing in silver, as opposed to other investment opportunities.

Silver is more affordable than gold, which makes it a more accessible investment. A lower starting price means more people can get in on it, and you’ll be able to purchase higher quantities of silver than gold.

However, it also works great if you just want small quantities, say, as a gift for your significant other.

Additionally, silver is more versatile than gold—it has a wider range of industrial applications.

For example, silver is often used in jewelry and coins, but it’s also a good conductor of heat and electricity, making it an important material for electrical components and solar panels.

As a result, investing in silver can be a wise choice for those who are looking to diversify their portfolio or protect their assets against inflation.

While the price of silver can be volatile, over the long term, it has tended to outperform other asset classes such as stocks and bonds.

Finally, silver is also relatively easy to store and transport, which makes it logistically simpler to invest in than other precious metals.

Don't overlook this valuable metal—it may just be the key to achieving your financial goals.

What to Look for When Purchasing Silver

In this section, we'll go over some important steps to take to become a successful buyer. There are plenty of scams out there, after all, so arming yourself with knowledge will give you the upper hand.

Types of Silver

Silver is a versatile metal that has a wide range of applications, which is why a lot of people want to invest in silver online.

It is distinguished from other metals by its grayish-white color, which comes from its high reflectivity.

Silver is also relatively soft and malleable, making it easy to work with. In addition, silver has high thermal and electrical conductivity. These properties make it ideal for use in electrical engineering and electronics.

However, this metal is also prized for its aesthetic value: Silver jewelry and cutlery are valued for their beauty and luster.

Like with any precious metal, there are several types of silver, each with its own unique set of properties.

These are called alloys, and they each contain different amounts of silver. Pure silver doesn't exist in nature, so the quality and type of silver are represented by a numerical value called millesimal fineness.

The most common type of silver is sterling silver, which contains 92.5% pure silver and 7.5% copper. This alloy is used in the production of various items, from jewelry to flatware.

The United Kingdom started using it in the 12th century, followed by its numerous colonies. The alloy is the most prone to tarnishing due to the high amount of copper. Sterling silver has a fineness of 925.

Another type of silver is Britannia silver—a 95.8% pure silver and 4.2% copper mix. You'll most likely find this alloy in high-quality coins and medals.

The oldest pieces of this silver date to the 17th century and this alloy's fineness is graded at 958.

Companies that sell silver, on the other hand, mostly focus on fine silver. This is an alloy with 99.9% or higher silver content, with a fineness of 999. It can be minted into coins and bars, as well as bullets.

This is what most people are trading in and collecting nowadays, alongside vintage coins and other rarities.

Lastly, there is so-called “junk” silver or coin silver. It’s not really “junk”—the name merely refers to old, worn-out coins made of 90% silver alloy.

Most bullion dealers stock them for their collector value and as a lower-priced entry into the silver collecting hobby.

Aside from the quality of silver, some collectibles affect the value of this metal. Many collectors focus on rarities and limited series mints.

For silver, this is called a "round"—a privately minted collection of coins with an intricate design.

These coins have a fineness of 999 and are traded just like any other commodity. If a collection becomes particularly popular, its price may rise more than the value of the silver it’s made of.

Seller Reputation

When you encounter a new silver dealership, checking how long the website has been around should be your first course of action.

Building a reputation is a long process, so the sellers that have been around for several years or decades are not likely to be in the business of scamming their customers.

Additionally, you can look up the company on various user review platforms like TrustPilot, BBB, and ShopperApproved.

Even a simple Google search can net you informative results and expose any possible issues with the place you were looking to purchase silver from.

The last part of the verification process is checking whether there’s a physical address associated with a dealer.

This information is usually available in the website’s footer or contact page, where you should also be able to locate a customer support phone number.

That’s another way to verify the dealer by yourself: Just call them or, if you can, visit the office to ensure they are 100% legitimate.

Products and Services

This is a highly competitive market, and therefore different sellers may offer something others don’t. It could be anything-from limited collections and unusual items to shares in silver mining companies and individual retirement accounts (IRA).

Of course, it’s up to you whether you’d rather just purchase physical coins and bars or seek investment opportunities.

Many stores also offer various additional products alongside pure silver. Those can be accessories for displaying your items, like capsules and boxes, or simple bullion bags.

The same places that sell bullion also offer storage services to safeguard your investment.

Of course, if you decide to have your silver shipped out to you, check whether the store offers any free shipping plans for larger purchases - oftentimes you’ll get your order delivered for free if you spend $199 or more.

Bottom Line

With the global market moving towards assets and commodities as a way for long-term investment, silver proved to be a great alternative to opening savings accounts in banks.

It doesn’t matter if you buy it in coins, bars, or even bullets: It is an investment worthy of its price.

About author

I have always thought of myself as a writer, but I began my career as a data operator with a large fintech firm. This position proved invaluable for learning how banks and other financial institutions operate. Daily correspondence with banking experts gave me insight into the systems and policies that power the economy. When I got the chance to translate my experience into words, I gladly joined the smart, enthusiastic Fortunly team.

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