Buying Silver Bullion Online


Buying online is a great way to buy silver. It is often more convenient and it opens up a large number of competitive options for the buyer. The ease of comparison shopping is helpful in finding better deals, but if time is money, then you’ll want to make sure you’re not spending too much time shopping around online when you could drive down the road 5 miles and pick up something for the same price. In most cases, online shopping will be faster and more convenient.

There are some drawbacks to buying online. For large quantities of silver (say about $500+), you can likely get free shipping on the order, in addition to a lower premium on each individual unit (most silver dealers offer volume pricing and discounts). The collector who just wants to pick up a single coin or two can expect a shipping cost to be there, as well as some difficulty finding silver dealers who are willing to process an order for a mere one or two coins. Minimum quantities are very common when buying silver online, unless you go though a community auction site. Established companies who do sell single coins, usually charge astronomical premiums compared to community sites like eBay.

Buying Silver Bullion on eBay
For the small time buyer looking for a few pieces at a time, eBay is the best bet for finding great deals online. There are hundreds of sellers from across the world, and you have the added advantage of being able to buy from not only dealers, but from other bullion collectors, both amateur and professional. This works as both an advantage and a disadvantage for some buyers, who also have the added pressure of bidding with lots of other interested buyers. For high demand items, they can often go for higher prices than in local coin shops or shows.

You can find great deals on eBay, but it requires some patience. Some auctions will go higher than you’re willing to pay, so you’ll need to do some research first to get a buying range for your item. You should know the maximum amount you’re willing to pay for an item before you begin bidding. This includes shipping. Many sellers offer coins and bars at a great rate, then make their profits on ridiculous shipping charges. Always add the shipping cost to you bid price.

Once you figure that out, it’s best to add as many auctions to your “watch list” as you can (for items that fit what you’re looking for). Then as the auctions get close to expiring, bid on the ones that are within your limits, and pass on the ones that are not. It takes some extra time, but if you’re patient you can find some great deals over the long run (especially for auctions that end late at night or early in the morning).

NOTE: To make this process much easier, use the Firefox browser and install the Firefox Companion for eBay plugin. This allows you to keep tabs on your watch list even when eBay is not open. You can continue to work on your computer, and receive pop-up alerts any time that one of your auctions is about to close. Even if you’re not on your computer, you can still turn up the volume of your computer and receive a sound alert when an auction is closing. This makes it very convenient to watch your auctions without being a complete slave to the eBay website.

 

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