When buying or acquiring silver bullion, especially in the form of silver coins, it is important to avoid getting ripped off. We are not only or necessarily referring to the buying of fake or counterfeit silver coins, but the buying of real or genuine silver coins at ridiculous high prices to the spot price of silver.
They key to successfully invest in silver coins, like almost all things in life, is to keep it simple. When silver coins that are not supposed to be colored, get colored, when silver cladded coins get sold as “commemorative” coins, all for the sake of making ill-gotten gains by charging way above the spot price of silver, the red warning lights have to be on and the sirens wailing. In other words, words such as “commemorative”, “clad”, “cladded”, “colored” and “limited edition” must place you on high alert. In fact, if silver coins are advertised via television or mainstream magazines, it is 99.99% a rip off that should be avoided like paper silver and the plague itself. Thus, to keep it simple, Silver Bullion, firstly recommends that investors only buy from trusted silver bullion dealers, and secondly, only buy silver bullion coins, especially 1 oz silver bullion coins such as American Silver Eagles, Canadian Silver Maple Leafs, Mexican Silver Libertads, Chinese Silver Pandas, Australian Silver Kookaburras, Australian Silver Kangaroos, British Silver Britannia and Austrian Silver Vienna Philharmonics. Silver bullion coins, especially 1 oz silver bullion coins with a purity of 99.9% or higher, normally offer the perfect balance between silver weight, silver purity and the silver price. In fact, it not only makes it easier to calculate the value of one’s silver holdings, since the silver price is quoted in U.S. Dollar per troy ounce of silver, but it’s probably the most compact and transportable form of silver available in the silver market today.
When it comes to spotting fake or counterfeit silver coins, the first step towards any success in this regard is to empower oneself with the knowledge required to do so, and even then, a fake or two might slip through, but it is better than not having any knowledge pertaining to the subject at all. As a second means of protection, it is vital to only buy silver bullion coins from trusted silver bullion dealers, especially those who are willing to accept returns.