Investing in silver bullion has become increasingly popular in recent years due to its potential for long-term growth and protection against inflation.
The Ultimate Guide to Buying Silver Bullion in Canada – A Step-by-Step Process
Introduction: Investing in silver bullion has become increasingly popular in recent years due to its potential for long-term growth and protection against inflation.
A Step-by-Step Process
· Determine your budget and investment goals.
· Research products and silver prices in Canada.
· Choose a reputable bullion dealer: When buying silver bullion, it's important to choose a reputable dealer or retailer.
· Place your order.
· Make payment.
· Receive your bullion.
How to Choose the Right Type of Silver Bullion for Your Investment Needs
· Coins are a form of legal tender, meaning they are guaranteed by the government in which they are issued. They are often available in smaller weights, making them easier to purchase. However, coins can come with higher premiums due to their collector’s value.
· Bars come in a range of weights including 1 oz, 10 oz, and 100 oz. They are also very easy to trade or store and come with lower premiums than coins.
· Rounds often have a low premium and are easy to store or trade.
Silver scrap may be more suitable for investors who are knowledgeable about silver refining and processing. it can often be purchased at a lower cost than new silver bullion products.
When choosing which type of silver bullion is right for your investment needs, consider factors such as price, liquidity, and storage.
Where to Buy Silver Bullion in Canada—Online & Offline Retailers & Dealers
· Online retailers: There are many online retailers that specialize in selling silver bullion. These retailers typically offer a wide selection of products, competitive pricing, and convenient online ordering.
· Local coin shops: Local coin shops are another option for buying silver bullion in Canada. These shops may have a more limited selection of products compared to online retailers. There are also pawn shops for the same.
· Bullion dealers: These dealers may offer a wider range of products than local coin shops but may not offer the same level of personalized service. Look for dealers who are members of industry associations, such as the Professional Numismatists Guild (PNG) or the Canadian Association of Numismatic Dealers (CAND).
