The best way to purchase and own silver depends upon your outlook and what you hope to accomplish with your silver holdings. If you want to hold physical silver to use as currency in the event of a monetary collapse, buying pre-1965 U.S. silver coinage is a good way to do so. However, the price of those coins includes a premium over the current spot price of silver, and the purchase is also subject to sales taxes. If you wish to buy silver as an investment, purchasing shares of a silver Exchange Traded Fund is a better plan.
Things You'll Need
- Online brokerage account
Log into your brokerage account. Read the prospectus of the available silver ETFs and choose the one that best meets your needs. Enter this ETF into your watch list.
Fund your account so you will be able to buy the number of shares you desire. You can either deposit money from a bank account, mail a check or money order, or sell shares of any other holdings you may have in your account.
Check the price of the ETF on a daily basis. When the price of the ETF you are interested in dips, enter a buy order for the number of shares you wish to purchase.
Tips & Warnings
- Do your due diligence research. Any investment carries the risk of losing money.
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