Buying silver seems easy enough to accomplish on the surface. But investors should realize that there’s a wrong way and a right way to buy this precious commodity.
Walking into your local jewelry store and purchasing silver earrings and necklaces isn’t the wisest way to invest. In fact, it doesn’t offer the same growth capabilities or tax advantages of a silver IRA.
Even worse, buying silver from a local jeweler is foolish unless you know how to determine if it’s real. Pushy salespeople and street vendors will attempt to rip you off at every turn. If you don’t know what you’re doing, they’ll hustle you for your hard earned money.
To help you discover where to buy silver bars, we’ll discuss all things related to silver. And we’ll share the reasons why precious metals IRA investing is the superior choice.
Keep reading to get a clear understanding of the best place to buy silver and other important silver related topics.
5 Places to Avoid When Buying Silver
Before diving into the benefits of a silver IRA, it’s best to share why you should avoid some silver purchases. As mentioned, not all silver investments are created equally. Some of these purchases are risky. Others miss out on potential tax advantages. And still others expose you to scammers and other potential criminal elements.
To avoid making a mistake when you purchase silver bars, please consider forgoing the following options:
Avoid #1: Pawn Shops
On the surface, this seems like a great place to buy inexpensive silver. While this might be true to a degree, it also opens you up to potentially being ripped off.
Remember, pawn brokers try their best to make a quick buck. They are willing to buy anything inexpensively in order to turn around and sell it for a small profit.
Do you really think they spend significant time examining silver jewelry when they buy it? It’s highly unlikely to put it mildly. They could easily get ripped off themselves and turn around and sell you fake silver and other fake precious metals.
Avoid #2; Local Jewelers
Buying silver from local jewelers is similar to buying a used car. Pushy salespeople attempt to poke, prod, and manipulate your thinking. They go out of their way to convince you to procure products you may or may not want.
While the commodity silver is valuable, owning a silver chain or silver earrings isn’t like owning silver bars or coins in a precious metals IRA. It’s vulnerable because you have to leave it in your house as opposed to a highly secured vault. It’s susceptible to being broken, lost, stolen, or melted in a fire.
With a silver IRA, your financial future is always protected. And it’s protected by trusted sources like Brinks and other respected depositories.
Avoid #3: eBay
Are you thinking about buying silver coins or bars on eBay? You may end up getting silver that’s worth your while. But it’s likely that you’re flushing your money down the toilet.
How many investors do you know getting rich buying silver on eBay? How many investors secure their financial future when they purchase silver bars and coins on an auction site?
If you haven’t figured it out already, the answer is none. It’s too easy to get ripped off buying fake silver on eBay. Stay far away even if eBay claims to have protections in place to keep you safe.
They can’t enforce their own rules. The best they can do is block a seller from using their account. But banned sellers can open another account and continue their scam on other unsuspecting suckers.
Avoid #4: Craigslist
If you purchase silver bars or coins on Craigslist you run the risk of getting scammed. Craigslist has even worse protections in place then eBay. Even worse, they tell you to buy things at your own risk. They aren’t willing to protect customers on their website by any means.
Plus, a precious metals IRA is the right way to invest in silver anyway. This investment leads to greater control, more growth potential, insurance against the current recession, and the obvious tax advantages.
Stop making stupid mistakes. Protect your wealth and your family today by opening a precious metals IRA. We recommend Regal Assets because they’re #1 silver IRA broker doing business today.
Avoid #5: Unscrupulous Characters
Everyone loves to get a great deal. It makes us feel good when it seems like we finally beat the man. But are you willing to sacrifice your soul to save a quick buck?
When unscrupulous characters approach with deals that seem too good to be true, they usually are. These shady characters are trying to sell you stolen goods. Are you willing to risk your moral character and reputation to save money?
What happens if you get caught? Do you think the thief will protect you? Or will they sell you down the river to get a better deal? The answer is obvious. They’ll rat you out and jam you up if it’ll help them stay out of trouble.
Why Silver Is the Best Currency to Buy During a Crisis
No one ever wanted to believe it could happen, but we’re currently living our very own doomsday scenario with the coronavirus crisis. President Trump and the authorities are doing everything they can to minimize the damage caused by this deadly virus. But it’s sweeping across the world anyway and it doesn’t want to slow down for any reason.
Guess what? If hospitals become overwhelmed with patients, our first line of defense against this disease will be crushed. Once the coronavirus takes over, more and more people will get sick. The very fabric of society will begin to break down and anarchy and panic will set in.
Do you think the US dollar will still possess value during a viral apocalypse? Absolutely not! But society will go on in whatever form remains. And people will go back to trading using gold and silver as the main currencies of choice.
Silver is inexpensive and easy to use to buy goods and services. As other currencies become worthless, the value of gold will likely skyrocket. Silver will certainly gain value as well. But I’ll still be cheap and affordable enough to use in stores, outdoor markets, or for trading among friends and neighbors.
3 Reasons to Invest in a Silver IRA Right Now
- Our future is more uncertain than ever. No one knows how long the coronavirus will last. No one knows how long the world will remain shut down and in complete chaos. If it lasts too long, businesses will collapse, countries will fall, and the world will descend into an apocalypse-like reality. Owning silver means owning a valuable currency accepted by everyone around the globe.
- The tax advantages are tremendous. By opening a precious metals IRA, you reap the rewards provided by this investment vehicle. It allows investors to take advantage of excellent tax benefits just like those offered by a conventional IRA. Some self-directed silver IRA accounts are even tax-deductible, which makes this opportunity even sweeter. But the true beauty of a silver IRA is the money and value grows completely tax-free. This opportunity doesn’t happen too often so take advantage while you can.
- Take control of your retirement accounts once and for all. Other investment vehicles have serious restrictions placed on them. Many retirement accounts only let account holders own bonds, treasury notes, stocks, and mutual funds. Do not limit your potential to these unsafe and possibly devastating investments. A silver IRA provides much-needed flexibility. It allows you to buy diversified assets like gold, silver, platinum, and palladium as investments. You control the risk, gains, losses, and everything in between in a self-directed IRA account.
Regal Assets: The Best Place to Buy Silver Coins and Bars (Our #1 Recommendation)
When you ask the question, “Where to buy silver bars,” you likely have some ideas that come to mind. Maybe you remember a collectible coin shop in the mall about 20 minutes from your house. Or maybe a pawn shop popped in your head.
You should’ve thought about purchasing silver bars and coins online through a reputable precious metals IRA dealer. Why? Buying silver and other precious metals this way presents huge benefits that you just don’t get with other options.
As a service to our readers, we’ve spent significant time reviewing the top 10 gold & silver IRA brokers doing business today. And out of the top 10 companies, we determined that Regal Assets was the #1 choice.
Why are they the best? The reasons include:
- They are a member of the Forbes Finance Council, a prestigious hand-picked position offered by the top financial experts.
- They have more than 10 years of experience and thousands of five-star reviews from happy customers shared online.
- They’ve performed billions of dollars’ worth of retirement account transfers.
- They have a generous buyback program ready to purchase your silver and other precious metals if you need cash fast.
Do yourself a huge favor and connect with Regal Assets as soon as possible. Sign up to their mailing list and get a free copy of their Silver IRA Crisis Currency Special Report and other valuable information.