In this segment, we will discuss the types of silver to buy online. As you probably know silver is a great way to protect your family from uncertainties in our economy and it’s also great for collecting. Silver is affordable and can be very useful. It comes in many forms including; coins, bars, rounds and bullets. Which form of silver is the best to buy? Well, that depends on your type of storage and long-term needs. Here are some types of silver to buy online.
Silver coins not only hold their value well, but they have a numismatic collector’s value too. Many mints create coins in a series (changing from year-to-year), giving them even more value in a collector’s sense. All coins have legal tender and face value, meaning that they are guaranteed to be worth that much regardless of the cost of silver. Silver coins are more easily recognized and great for trade/barter. For both those reasons, silver coins have a higher premium over spots than other forms.
Most silver coins are made in 1 oz. Each silver coin has an obverse and reverse design. You will find the year, purity, weight, and face value with almost all coins. They can be tough to stack unless you purchase several with the same design.
Most coins you can purchase will be uncirculated, meaning they come straight from the mint and were never used as currency. There is another form of coin that is rarer and more expensive, called a “proof coin.” They are shinier and mostly for coin collectors. Proof coins have the same silver content as regular uncirculated coins, but they carry a massive premium over spot.
These coins are prized for their collectible value as well as their silver content. They are little parts of history that are no longer minted. You will find them in both circulated and uncirculated condition. Some popular silver numismatic coins are Morgan Silver Dollars and Peace Silver Dollars.
Another types of silver coin you can purchase, are old circulated coins called junk silver. If you’re lucky you may even find a few still in circulation. Junk silver is not pure silver and can range from 35%-90% silver content. Half-dollars, quarters and dimes made before 1965 have a 90% silver content, making them worth more than their face value. You can easily buy our Junk Silver Bags to add to your collection.
Our Favorite Silver Coins:
- 2014 1 oz. American Silver Eagle
- 2014 1 oz. Canadian Silver Maple Leaf
- 2011 1 oz. Canadian Silver Cougar – Wildlife Series
Silver bars are a great way to collect silver and a favorite among investors looking to get the most for their dollar. They can be easily stacked and stored if you purchase several from the same mint. They carry the lowest premium over spot compared to coins and rounds.
Silver bars come in a variety of sizes including but not limited to; 1 oz., 10 oz. and 100 oz. which is great for saving money on large purchases. Large bars can be harder to use in trade and barter though. Each bar will have the mint logo along with the weight and purity so it’s easy to determine the metal content. They don’t usually have a year on them or a series of designs for collectors but they can still be a great hedge against inflation.
Our Favorite Silver Bars:
- 1 oz. Sunshine Mint Silver Bar
- 10 oz. NTR Silver Bar
- 100 oz. Royal Canadian Mint Silver Bar
Silver rounds look similar to coins but they are actually more like bars. They don’t hold a face value or have a year stamped on them. Like bars they will have the mint logo with the weight and purity. Rounds can be stacked and stored easily when you purchase several from a single mint. Rounds are widely available and more generic than coins so they carry a very low premium over spot making them great when purchasing for metal content. Most silver rounds are 1 oz. Read more about Coins vs. Rounds.
Our Favorite Silver Rounds:
- 1 oz. OPM Silver Round
- 1 oz. Sunshine Mint Silver Round
- 1 oz. American Buffalo Silver Round
The newest bullion offered on our site are the silver bullets. They are made with solid silver and cannot be fired but they are great for collectors and for silver content. The price over spot runs about the same as coins. The silver bullets we offer here at Midwest Bullion Exchange are the 1 oz. bullet modeled after .45 Automatic Colt Pistol ammunition, the 2 oz. bullet replicated after the .308 Winchester rifle round (7.62 NATO), the 10 oz. based on the .50 Caliber Browning machine gun round and lastly the 25 oz. replicated after the Autocannon 20mm. They would make great gifts for silver collectors, gun enthusiasts, hunters and military veterans. Plus they are pretty awesome.
We hope this post, types of silver to buy online, is helpful!