How To Buy Silver in Las Vegas, NV
Silver is a precious metal used as legal tender and for practical purposes. It’s also an investment that holds value over time. At Las Vegas Jewelry & Coin Exchange, we understand the importance of making wise investments. Our knowledgeable sales team is here to support you in making a well-informed purchase decision. Take a deep dive into the why, where, and how of silver-buying in the southern Nevada area.
Where To Buy Silver
You can buy silver through an online retailer and pay for shipping, all from the comfort of your home. Social media marketplaces are available, but this is not the safest way to buy silver due to the threat of fraud and counterfeit pieces. Pawn shops and coin shows are good alternatives if you prefer in-person shopping. The best way to buy silver is in person at a local coin shop, as this allows you to see the piece up close and discuss its details and value with an expert seller.
Reasons To Buy Silver
There are several reasons why you should buy silver , with its lower price point compared with gold, which include its ability to hold value over time. We believe that silver is an excellent investment for the following reasons:
- Silver is cheaper than gold, meaning that you can buy more of it and easily liquidate it when necessary.
- Physical silver doubles as legal tender, and you can categorize it as a hard asset.
- It outperforms gold in the market, holding its worth in a bull market rather than dropping in value when the market fluctuates.
- Silver inventories have significantly declined over the past 20 years. Now is the best time to invest so you can take advantage of owning silver.
- Unlike gold, silver has practical applications, such as in solar panels and batteries. Due to its growing demand as an industrial and commercial material, its worth is increasing over time.
What Types of Silver Should I Buy?
Buying silver can seem intimidating because there are numerous options to choose from. But the process is simple once you know what types of silver to invest in. Let’s take a quick look at the types of silver we recommend purchasing.
Silver coins are distributed worldwide and carry a rich history dating back thousands of years. The most common coins are one troy ounce of 99.9% pure silver. Less common silver coins are 10 ounces or one kilogram. If you’re entering your first foray into buying precious metals, single silver coins are ideal. You can purchase silver coins individually or wrapped in tubes. Want to buy silver coins in bulk? Search for monster boxes that hold several tubes of coins and double as protection and storage for your investment.
The main difference between silver coins and silver rounds is that the rounds are not legal tender. Due to this stipulation, private and government-owned mints can produce them. The cost of silver rounds depends on their silver content, meaning that they’re an affordable investment. Silver rounds are available in the following forms:
- One-ounce silver rounds: The most popular silver round is a full troy ounce of silver. They’re small and easy to store and are commonly sold as one-ounce silver buffalo or freedom rounds.
- Five-ounce silver rounds: These rounds are larger yet affordable and feature beautiful designs. You’ll likely find them for sale as the American silver eagle replica round or the Aztec calendar silver round.
- Fractional silver rounds: Fractional silver is anything under one troy ounce. Look out for the smallest kind at one-tenth of an ounce or the bestselling fractional round at a half ounce.
Silver bars are available in minted or poured forms. Minted silver bars are cut in bar stocks and feature printed designs, such as coins and rounds. Poured silver bars are formed into ingots from molten silver poured into molds. If you want to buy this type of silver, search for the following popular designs, many of which feature a stamp of .999 fineness or higher:
- Royal Canadian Mint silver bar: The Royal Canadian Mint silver bar has the highest purity. It has a maple leaf design, a stamp of .9999 fineness, and is sold as a 100-ounce bar.
- Sunshine Mint silver bar: This silver bar features an eagle flying over a sun design. It’s produced as a 100-ounce bar with a .999 fineness.
- Scottsdale Mint stackable bar: You can buy this silver bar in 10 ounces with a .999 fineness. It features a lion head logo and the words “In God We Trust” stamped on the back.
Sterling silver is easier to attain than other forms of silver since it’s commonly sold as jewelry, such as necklaces, rings, and bracelets. Other forms of sterling silver include flatware, tableware, picture frames, and trophies. Legitimate sterling silver items have a 925 stamp, which means that a governing body recognizes that the piece contains at least 92.5% pure silver content. If you want to buy silver to start a collection, sterling silver is the least expensive of all the silver options. It’s a great introductory piece to build your investment portfolio.
How To Buy Silver
Planning to buy your silver online? You’ll need to make an account with the online retailer and pay more for shipping so your investment is protected. But if you buy silver in person, you can cut out the extra work. Visit a local coin shop for the best possible silver-buying experience. You’ll get to examine the coins or rounds up close to ensure their quality. Remember to bring a valid form of payment when stopping by a brick-and-mortar store.
Silver Sellers in Las Vegas, Nevada
Whether you’re new to buying silver or have bought it for years, you should purchase it from a trusted silver seller near you. Las Vegas Jewelry & Coin Exchange is a top-rated seller in southern Nevada with over 20 years of experience providing excellent customer service. Residents and visitors to the Clark County area can visit our showroom at 1405 W. Sunset Road in Henderson. Call us at 702-728-4480 if you have more questions about buying silver.