In these recessionary times a lot of people have started to look into buying gold and silver bullion. Gold and silver bullion has been used for century as a hedge against inflation and also a way to to safe keep ones wealth. They are both know as safe havens during troubled times. Better known as a way to "Inflation Proof" your money.
The main question that is asked is where does one go to buy bullion? It seems everywhere you look there is a premium that must be paid. Without serious investigation you could be paying too much.In Canada, some chartered banks will sell bullion in both bars and coins. The price is usually just a bit above spot price and fluctuates each day to reflect the daily spot price of gold or silver. There can be a handling fee also. Storage can cost extra but you can also take possession of the bullion yourself.
With gold prices now in 2011 around the $1900 - $2000 US mark, buying gold can be a very costly venture. So most people will opt to the less costly bullion which is silver. Silver can be obtained through banks, coin dealers, online auctions, and even some membership clubs like the Silver Snowball Club. This is a easy way to accumulate silver if you wish to do some online marketing. The cost of your silver is more than buying at spot price but with a little bit of effort and telling others you can be getting silver for less than spot price. Some members of this club are getting silver for around $1.00 an ounce.
Other sources of buying silver online is going right to the silver miners themselves. Companies like First Majestic Mining sells silver to the public in coin and bar form. The prices are just a few dollars over the daily spot price and the is a minimum order as well as a maximum order. With so many people out buying silver these days a lot mints and refiners are running out of the metal itself. This shortage is creating a sort of premium in price for the metal.Another way of obtaining silver is for a discount although not online is by going to flee markets, garage sales or second hand stores. Once there look for any old silver jewelry. Old rings, bracelets and chains. This is what is know as "Junk Silver" or "Scrap Silver". By melting these old pieces down you can extract the pure silver out of it. Having said that, there are buyers out there who are prepared to buy junk silver from you. Old coins are a great way to obtain silver also. Most coins that pre-date 1965 are made of silver. That is why a lot of old 25 cent pieces are worth about $7.00. Just look around and when you find these, set them aside. Don't want to melt them down? No problem! There are plenty of buyers for these old coins also.
