How to Invest in Silver Through American Precious Metals
- 1). Research the various silver options available. The first step should be to ensure that silver investing is right for you. There are several other ways to invest in silver, including the SLV exchange traded fund (ETF), which does not require you to take physical delivery of the silver. Depending on the dollar amount you have to invest, this can be an important consideration. Investigate Google Finance or Yahoo Finance as good free options to track the price of silver which can fluctuate heavily. There can be a significant lag in price updates between the open market and exchanges which trade in silver. Be sure to understand the prices as it may be easy to overpay.
- 2). Visit Apmex.com. You can create a free account, examine the various silver options available. The exchange has silver bars, specialty silver coins, industrial silver and scrap silver. Scrap silver prices are based on market silver prices; however, other silver products have a value based on the market price of silver plus a premium for collectible or unique items.
- 3). Purchase the silver. At Apmex.com there will be a silver link on the left-hand navigation menu, click it. Then, select one of the numerous silver options previously mentioned. If you chose to purchase U.S. silver American Eagle coins for example, you would have to choose a type, uncirculated or proof condition. Then select the amount you want to buy, some options are listed in quantity and some by weight. Next select "Checkout" or to continue shopping, you will need to sign into your account or establish one at this stage. Finally pay with a credit card and the process is complete.