Buying Silver Online : Everything you need to know 2024

Silver is a lustrous attractive metal that is also known for presenting the highest abilities in terms of electrical conductivity, thermal conductivity and reflectivity among metals. Super metal, isn’t it? YES.

Today we are going to take you on a journey in buying silver online. 

Tips when Buying Silver Online

When buying something as expensive as silver online, let me tell you this dear reader, DO YOUR RESEARCH.

As you know, we always have your back on this so here is a list of tips:

• Look up the website you want to make the purchase from and the feedbacks on it and that the merchant that owns it is renowned, because you need to make sure you are dealing with a respectable organization/seller that fulfills your satisfaction with the purchase and the after-sale services.
  
• Remember the hallmark thing we talked about earlier in the buying gold online article? No? Well, I thought we were friends! Anyway, make sure to look for the .925 stamp on silver jewelry specifically.
  
• Ask your seller about everything you need to know. For instance, if you are buying jewelry ask for the sizing and how to measure yours correctly.
  
• Ask about the refund and exchange policy. If you receive the order and it is not to your liking, you will need to learn first about the retailers’ refund and exchange policy and how many days you have the chance to do so.
  
• Make sure to check the current market price for silver; this will give you a reasonable starting point to use in comparing between prices and also spot any malicious attempts of fraud. Remember, too tempting discounts are suspicious. I’m trying to help, see?
  

Advantages of buying silver online

Since we live in a golden age for online shopping, it is very common to buy metals or silver from online precious metals dealers. So, if you are thinking to invest in silver online, my dear reader, I come to you with a list of benefits:

• Make sure the site you buy silver from is secure. We have worked hard to write the best silver traders worthy of your trust at the end of the article.

For instance, if you are purchasing silver bullions or silver bars that will be delivered to your doorstep it should put you at ease, we don’t want anyone following you home, do we?

• Silver purchase online might also be convenient for you if the place you are buying silver online from is of good reputation. You can ask to see any of the products’ details if you need to, and talk to any of the customer support staff to help you make the right decision.
  
• Buying silver online always gives you an unlimited variety of choices because you can shop anytime and from anywhere in the world.

• For the merchants, it is less expensive to sell their merchandise online, since it has no overhead expenses that is usually passed on to the customers, therefore, better prices for the customer and better deals as well and it is also not affected much by inflation.

Disadvantages/Risks of online silver purchase

As we know, buying anything of value online such as buying silver online comes along with some risks that we should take into consideration and here are some of them:

• Unfortunately, buying anything online lacks the physical experience of touching and seeing the item you are purchasing, and it is totally dependent on the reputation of the seller and buying silver online is not any different.
  
• Payment details might not be as safe as you think. If your chosen payment method is by debit or credit card, then you may be at risk of having your card’s details exposed to hackers that aim to steal financial details.
  
• Furthermore, when you are making a purchase, if you decide that you want the seller to store the silver coins online or the bullions in a secured depository for you, you might not have access to them and they will not be under your control, let alone not being able to check on the purchase.

Is buying silver online safe?

It is totally safe to buy silver online but only IF you choose the right seller. Like we previously mentioned, doing your research about the website you select in buying silver online is top priority to assure you safe and satisfying dealings. In addition, you can ask your seller that you pay on delivery so you would not have to use your credit or debit card.

How to spot fake silver online?

Again, trying to help you dear reader as much as we can. So, here are some ways to spot fake silver:

• Wait for it……Hallmarks! Yes, silver stamps are one of the easiest ways to differentiate between real and fake silver. You can find silver stamps of 925, 900, and 800.
  
• Additionally, you must check your silver on delivery before actually receiving your order, therefore, magnet test could be of use and simply: if it sticks to the magnet, it is fake.
  
• As we previously mentioned, silver is of unique thermal conductivity so for this test you will need a cube of ice. Place the ice on the metal piece and if it doesn’t melt faster than usual then guess what? It is fake.
  
• Moreover, if you try to gently hit the supposedly silver piece with another nonabrasive metal you should hear a ringing for a very few seconds. If you hear any other sounds, it probably isn’t silver.

Best place to buy silver online

In this section we tried to look for the best place to buy silver online and the cheapest place to buy silver online. We only bring you the best. 

• Gainesville Coins. It has received great feedbacks from customers for almost a decade and it also received unique ratings from organizations such as: National Inflation Association and Better Business Bureau.
  
• Money Metals Exchange. It also received an excelling rating from the Better Business Bureau beside other recognitions for its extraordinary customer care services.
  
• APMEX (American Precious Metals Exchange). This is one of the biggest whales out there, providing a wide collection of various precious metals in addition to a section that includes rare pieces from around the world.
  
• BGASC: Buy Gold and Silver Coins. Besides having an A+ ranking from the Better Business Bureau, it has insurance on the order while being delivered and as a bonus they also deliver the next business day. They also have an extensive mints collection from different places while being one of the biggest sellers of coins and bullions in the US. In addition, you get a free delivery if the purchase is above 99$.