Disclosure: Please note that some links on this website are affiliate links. We may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners. This is not a financial advice article. Refer to a professional for financial advice. Silver Coins vs Silver Bars, which is right for you? Read on to find out.
- 1 Should I buy Silver Coins or Silver bars?
- 1.1 Why Silver Is So Valuable and Where Do You Buy It
- 1.2 1. Size
- 1.3 2. Weight
- 1.4 3. Features of Silver Bars
- 1.5 4. Face Value
- 1.6 5. Purity
- 1.7 6. Storage
Should I buy Silver Coins or Silver bars?
Why Silver Is So Valuable and Where Do You Buy It
They’re a legal tender backed by the full faith and credit of the United States Federal Reserve.
Although there are times when it might be more beneficial to delve into gold or precious metals in general, silver coins can be an excellent way to get into investing with minimal risk if you’re willing to spend money for them.
If you’re looking for a way to invest your money in something that will give you immediate returns and is reasonably affordable, silver coins are worth consideration.
They tend to be a safe haven during uncertain times.
A great investment for times like these. For sure.
Over the past 20 years, silver has risen from $4.60 per ounce to a current price of over $24 per ounce.
That is a 6x return on your initial investment in silver.
In 2010 we saw a 80% increase in the price of silver alone.
Since silver is a commodity, its price fluctuates based on demand, speculation and supply.
• Produced by the US Mint
• Has a Face Value of $1
• Purity is .999 fine
• It is IRA eligible
• Its weight is 31.103 g
• Diameter:40.6 mm
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So lets continue exploring Silver Coins vs Silver Bars and which is the better investment choice for you and your family.
Silver Bars in your retirement account
Silver bars are the physical manifestation of silver and are a popular form of investment.
They’re rectangular in shape and can be cast, minted or hand-poured.
Silver can be an important part of a diversified retirement plan portfolio.
Bars come in various sizes, with the most common being one ounce (1oz.) , 5 ounce (5oz.), ten ounce (10oz.) or one hundred (100oz.) ounces.
Generally, silver bars come with a much lower markup than silver coins because of ease of manufacturing.
Silver bars are essential because they offer a relatively low-cost way to invest in physical silver. Like any other kind of investment, there are pros and cons involved in investing in silver bars.
Silver mining is not as common as other forms of precious metal mining and today there are very few mines dedicated to just silver mining.
Typically, silver is usually discovered when mining for other precious metals like Gold or copper.
Believe it, or not, word on the street is that there is much more silver than gold in this earth.
Because of silver’s abundance it is a great way to add to your investment portfolio or get started investing in silver.
If you are just getting started investing in precious metals, silver is perfect for beginner’s due to its low cost of entry.
Silver bars should not be confused with numismatic coins, which are another form of silver investment and can be a valuable way to acquire rare and valuable coins.
However, there are also drawbacks to silver bars; you can’t show off your wealth with a large silver bar in your pocket like you can with coins.
Some notable features of silver bars are the following:
Comparison between Silver coins and Silver bars
Features of Silver Bars
1. They have a rectangular shape
2. Heavier than the silver coins
3. Compared to smaller silver coins, the cost is lower
4. Can be purchased in large sizes
5. Less expensive prices per gram, due to lower manufacturing costs
6. Low cost of entry. Cheaper than buying gold
7. Easier to store than coins
Feature of Silver Coins
1. Silver is easily tradeable
2. Silver is liquid
3. Easily transportable
4. May be collectible
5. It is a rare metal
6. Limited availability
7. Silver coins are long-lasting and durable
8. They are widely accepted as legal tender
Here are some factors to consider if you are looking forward to purchasing one or both of these precious gems.
Size matters. Depending on how much room you have for silver storage, you may find coins are easier to store than bars. Bars are most likely larger than to coins you will be buying, thus taking up more space.
Silver bars will most likely weigh more than silver coins.
3. Features of Silver Bars
Please see the above section to refer to the features of silver bars vs silver coins.
4. Face Value
Silver coins are legal tender, which can be used to buy goods and services. Bars are made for their merit as bullion. The US Government does not classify silver bars as currency.
Many of the leading silver refineries are making silver bars at 99.9% pure, or purer.
With the advent of the American Eagle bullion coin program in 1986, the US Mint has struck silver coins that are 99.9% pure.
Ideally, you have access to enclosed containers to store your silver coins and bars.
Doing so, will limit their exposure to air, dust and particles in the air.
Also, ideally you will not let the coins and bars touch each other, thus limiting the possibility of surface scratching.
So, which is it?
Silver Coins vs Silver Bars
It really just depends on your goals and budget.
Either one is a great buy and hold investment strategy.
The best thing to do is just get started.
Therefore the key to investing in precious metals is to avoid overpaying by using a solid gold and silver company to make your purchases.
For buying Silver Coins vs Silver Bars we really like for these types of investments, especially for investing in precious metals as part of a diversified retirement plan.