How much should I pay for fancier silver bullion bars, medals, ingots and rounds?
If you are in the market to purchase physical bullion silver for your collection, there are many options out there in the market place for you to explore.
Generic Plainer Silver Rounds and Bars - For not so fancy looking very plain bars and bullion, you can usually expect to pay around $1-$3 over the spot silver price. These are most suitble for the hard-line investor type who is only in it to make money either in the short term or long term. It's also a good choice for hoarders and for preppers that are worried that the dollar and other currencies could collapse someday and that silver and other metals may someday be the only real form of currency left on the planet. You buy the bars as an investor and lock them away and never see them again till you go to sell.
Semi-Decorative Silver Bars and Bullion - There are many options for buying semi-decorative and patterned looking bullion pieces. Many are manufactured with some very interesting themes. Both private and national mints make items in this category. You can expect to pay between $2.50 to $4.50 over spot silver on these items. They are fun to look at when you preview your collection.
High Relief 3-D looking Bullion Silver Pieces - There are some options available to purchase in silver bullion coins and bars that are made with 3-D like details. You can expect to pay between $3-$7 per troy ounce over spot on items like these. Why pay this high premium? If you are in it for the long haul and you also want your investment to double as a decoration in your office or home decor, these artfully crafted pieces can serve both purposes. You are taking a hit on the spread initially, but over time you will likely make it back and then some. While awaiting the eventual appreciation of your investment you can in the meanwhile enjoy looking at these pieces.
Statues and Figural Bullion Pieces - There a few options nowadays to buy silver in the form of .999 poured statues and figural pieces. Unfortunately the prices on this type of silver bullion is typically double melt or more. Yes, you can enjoy displaying the pieces in your collection, however, it may take a very very long time before silver appreciates to a level where you can recoup your investment, let alone even make a profit. We recommend avoiding this option unless the item is just something you have completely fallen in love with and don't care about ever making money. If you are willing to pay double melt for a silver bullion product then you might just want to expand your options and consider buying antique sterling (92.5% pure) silverware or hollowware items which are typically made with finer craftsmanship techniques and not just something that is extruded and poured from a mold.
Conclusion: There is absolutely nothing wrong with buying silver rounds and bars and having it cover the dual purpose of both investing as well as affording you the enjoyment of adding to a collection that you see often or even have prominently on display. However, we caution you to not get carried away and stay somewhat close to the lower range of how much of a spread over spot. There's plenty of fish in the sea and some of them are bargains, avoid items that are overpriced for what they are in actuality really worth.
3D Bullion Bars, Rounds and Medals - Expect to pay between $3-$7 per troy ounce over spot on items like these.
Although very handsome and pretty, we suggest avoiding paying double melt on poured .999 bullion figures and statues. Only buy if at bargain prices.
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