How to Buy Silver 2023: A Guide to Investing in Precious Metals

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Updated On: December 26, 2022

Are you looking for ways to diversify your investments and grow your wealth? Consider buying silver.

Silver is a valuable asset that has historically held its value, making it an attractive option for those who want to protect their financial future. Several options for investing in silver include exchange-traded funds (ETFs), futures contracts, mining stocks, and even silver IRA companies.

In this blog post, we'll look at the different ways to purchase silver so that you can make an informed decision about what's right for you. 

Investing in the stock market can be risky. It is important to remember that past performance does not guarantee future results. As an affiliate, we may earn a commission at no extra cost to you.

Summary: Different Ways to Invest In This Precious Metal

  • Online Dealers
  • Silver IRA Companies
  • Silver Miners
  • Silver Stocks
  • ETFs
  • Physical Silver Bullion Coins

How To Buy Silver: A Few Different Ways

Silver is a great way to diversify your portfolio and grow your wealth. It can be purchased in several forms, each with advantages and disadvantages. Here are four ways you can buy silver:

1. Exchange-Traded Funds (ETFs)

Exchange-Traded Funds (ETFs) are a convenient way to invest in silver without purchasing physical silver. ETFs track the price of silver, allowing investors to buy and sell shares on an exchange, just like stocks. This makes it easy for investors to gain exposure to the metal's price movements without storing or transporting any physical silver.

One advantage of investing in ETFs is that they provide diversification benefits since they can hold multiple types of assets, such as gold, platinum, palladium, and other metals. Additionally, because ETFs trade on exchanges like stocks, they offer liquidity, allowing investors to quickly enter and exit positions when needed.

Silver is a safe asset

However, some risks associated with investing in ETFs should be considered before making an investment decision. For example, many ETFs use derivatives such as futures contracts or options, which can increase volatility and risk if the fund manager appropriately manages not many. Additionally, some funds may have high management fees, which could reduce returns if not considered in calculating expected returns from investments made in these funds.

Finally, investors need to understand their investments will be taxed when investing in ETFs since different countries have different regulations regarding the taxation of these types of investments. In general, most countries tax gains from trading ETF shares at capital gains rates rather than income tax rates; this should be taken into account when calculating expected returns from investments made in these funds compared to other alternatives such as buying physical silver coins or bars directly from dealers or mints instead.

ETFs, offer investors a convenient and cost-effective way to diversify their portfolios while providing the potential for capital appreciation. Next, we will discuss how to buy silver as an alternative investment.

2. Silver Futures Contracts

Silver futures contracts are agreements to buy or sell a certain amount of silver at a predetermined price on a future date. These contracts can be used by investors to speculate on the direction of silver prices and potentially make profits from buying low and selling high.

One advantage of futures contracts is that they provide leverage, meaning you can control large amounts of silver with relatively small investments. This allows traders to take more significant prominent ions in the market than they would otherwise be able to afford. However, it also means that losses can quickly add up if the market moves against them.

silver future contracts

Another benefit is that futures contracts are highly liquid, meaning there's always someone willing to buy or sell them at any given time. This makes it easy for traders to enter and exit positions without difficulty finding buyers or sellers like with other investments such as stocks or bonds.

The main risk associated with futures trading is counterparty risk, which occurs when one party fails to fulfill their end of the contract due to bankruptcy or other financial issues. To reduce this risk, most exchanges require both parties involved in a trade to put up collateral before agreeing so that either side has something backing their position should things go wrong.

Finally, investors need to consider using futures contracts for silver investing to understanding how these instruments differ from other investment forms, such as ETFs (Exchange Traded Funds) and mining stocks. With ETFs and mining stocks, you own physical shares rather than speculating on price movements through derivatives like options and futures trades. Futures trades do not involve taking ownership over tangible things but simply betting on whether prices will rise or fall over time.

Futures contracts are a great way to gain exposure to the silver market, but it is important to understand the risks and rewards of this type of investment before getting started. Next, we will explore how you can buy physical silver as an alternative investment.

3. Silver Mining Companies

Silver Mining stocks are a great way to gain exposure to silver prices. They offer investors the potential for higher returns than other investments, but precious metals also come with more significant risks.

When investing in silver mining stocks, it is essential to understand the different types of companies and how their operations can affect their stock price. Mining companies typically fall into two categories: exploration and production. Exploration companies search for new deposits of minerals or metals, while production companies extract those resources from existing mines. Both types of companies can be affected by changes in commodity prices, government regulations, environmental issues, etc.

Storing Silver at home

Investors should also consider the volatility associated with mining stocks. These investments may not always correlate directly with silver prices due to other factors such as company management decisions or operational costs. Additionally, some mining stocks may be subject to additional risk due to leverage used by certain firms, which could result in significant losses if market conditions change suddenly or unexpectedly.

To mitigate these risks when investing in mining stocks, investors must conduct thorough research on each company before making an investment decision. This includes analyzing financial statements and understanding industry trends and news-related sector developments.

Additionally, it is recommended that investors diversify their portfolio across multiple miners so that any single event does not impact overall performance since individual stock performance can vary greatly depending on various factors specific to each firm's operations or management team decision when investing in mining stocks can be a great way to diversify your portfolio and capitalize on the potential of silver prices.

4. Silver IRA Companies

Silver IRA companies offer a unique way to invest in silver without paying taxes on any gains. A Silver IRA is an individual retirement account allowing investors to purchase and hold physical silver within the budget, such as coins or bars.

This type of investment can provide tax advantages over other types of investments since any profits made from selling the silver are not subject to taxation until withdrawal at retirement age.

Side note:

This can be a unique investment opportunity than the stock market, depending on your goals after retirement.

This also makes it easy to buy silver online without all the headaches. And unlike gold, you might save money investing in this precious metal.

When setting up a Silver IRA, fees are typically associated with opening and maintaining the account. These may include annual maintenance fees, custodial fees for storing the metal, and transaction costs when buying or selling silver.

One benefit of investing in a Silver IRA is that it provides diversification away from traditional stocks and bonds, which can help reduce risk during market downturns. The metal also has an intrinsic value, making it less volatile than paper assets like stocks and mutual funds; however, its price fluctuates depending on supply/demand dynamics, so investors should be aware of this before making an investment decision.

#1st Rated

Augusta Precious Metals Logo

This is Colin's top pick when investing in silver, gold, or other precious metals. This gold and silver ira has been around long enough to show trust and experience for its buyers.

  • Zero fees for up to 10 years
  • A+ BBB Rating, AAA Rating from Business Consumer Alliance
  • Quarterback Joe Montana and his financial team chose Augusta over others
  • Zero complaints with The Better Business Bureau

#2nd Rated

Goldco box logo

This is Colin's runner-up choice as it provides many resources and tools for investing in precious metals such as silver. Goldco does not play around when it comes to customer satisfaction and helping you establish financial security.

#3rd Rated

birchgold logo

This is Colin's alternative pick for silver products, as it shows excellent user feedback and solid reviews. This is my alternative choice if you need to invest in a silver retirement account.

Another advantage is that investors have access to a wide variety of products, including American Eagles, Canadian Maple Leafs, and Austrian Philharmonics; all backed by government mints ensuring authenticity and quality control standards are met each time they buy new coins or bars for their portfolio.

Additionally, many companies offer free shipping when ordering directly from them, which can save money compared to buying through other sources, such as coin dealerships, where buyers must pay extra for delivery services if needed.

Investing in silver through a Silver IRA can be an excellent way to diversify your retirement portfolio and grow your wealth. Now let's look at the different types of silver investments available. 

Next, we'll look at how to buy physical silver.

5. Purchase Physical Silver

Investing in silver is a great way to hedge against inflation, but owning physical silver is the only way to ensure your silver investment yields actual returns. Silver coins and bars are an excellent option for owning physical silver and feature a variety of sizes and designs. Online dealers and gold-silver exchanges are excellent sources for the purchase of physical silver.

Investment-grade coins and bars with purity ratings above 99% can be bought tax-free from accredited bullion dealers who guarantee authenticity and weight. When investing in physical silver, consider shipping costs and storage if you choose not to store it at home.

Buying physical silver may require more effort, but it is ultimately worth it, as owning real precious metal never fails to pay off.

Owning a silver coin or buying physical silver bullion products can be worth it.

FAQs About How to Buy Silver

Is Buying Silver Worth It?

The answer is complicated for those considering owning silver bullion, whether to hedge their portfolio or as a part of their investment strategy.

Naturally, if the silver market is on the rise, then owning silver bars can be a great way to benefit from its increase in value. But given that silver prices are highly volatile and its supply tends to far outstrip demand, investing in silver often needs to be a calculated financial decision and not one made spur-of-the-moment.

Before buying silver, it's essential to consider many other factors, such as economic trends, industry indicators, availability of gold and other precious metals, and so on. For buying silver to be genuinely worth it, investors need to analyze the current climate of the market carefully rather than relying solely on predictions and guesswork.

Can I buy silver directly from a bank?

No, you cannot buy silver directly from a bank. Banks do not typically sell precious physical metals such as silver.

However, some banks may offer access to specific investment products backed by or related to the price of silver. For example, an investor can purchase exchange-traded funds (ETFs) or other investments that track the price of silver without owning any physical metal.

Additionally, some banks may provide access to futures contracts and options for those looking to speculate on the future price of silver.

What's the cheapest way to buy silver?

The cheapest way to buy silver is through online bullion dealers. These companies offer competitive prices and lower premiums than local coin shops or banks.

Many of these dealers also provide free shipping, making it even more cost-effective for buyers.

Additionally, some online retailers offer discounts on bulk purchases, allowing customers to save even more money when buying silver in larger quantities.

Is it better to buy silver online or in person?

For silver investors, buying silver in person instead of online can be appealing due to the ability to physically inspect the precious metal before making a purchase.

However, it is essential to consider that silver purchased in person may often cost more than silver purchased online. Additionally, silver bought in person often comes in smaller increments, like silver coins or small silver bars, while silver bought online may come in larger sizes, like 1kg silver bars.

All of these factors should be considered by silver investors looking to purchase actual silver so that they make an informed decision when deciding where and what to buy.

How to invest in silver for beginners?

Investing in silver can be a great way to diversify your portfolio and grow your wealth. Silver is a precious metal that has been used as currency for centuries, and its value often rises when other investments fall.

To get started, research the current market price of silver and decide how much you'd like to invest. You can purchase physical silver coins or bars from dealers online or at local coin shops or buy shares of exchange-traded funds (ETFs) or silver bullion.

Before investing in any asset, it's essential to understand the risks involved, so make sure you do your due diligence before making any decisions.


Now that you know how to purchase silver and add this precious metal to your investment portfolio, it's time to start investing.

Whether through precious metals dealers or through silver company stocks, these options should help you get on the right track.

Are you looking to invest in silver? With, we make it easy and stress-free! We offer comprehensive guides on buying silver so you can have peace of mind when investing your hard-earned money.

Our experts will provide the necessary advice for a successful purchase, from budgeting and pricing information to tips about which type of silver is best for your needs. Start building wealth today with

About the Author

Colin Shipp is a marketer who has been working remotely full-time since 2015. He specializes in growth marketing, content marketing, online courses, and remote work. On he writes about strategies he is using in his own life.