Q:

What are some tips for buying gold and silver?

A:

Quick Answer

To buy gold and silver, only buy from reputable dealers and know the value of the metals beforehand. Conduct thorough research to find the best prices.

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Full Answer

Consider the form of gold or silver when buying. For example, silver bars tend to be made of pure silver, therefore their value is slightly higher than the market value of silver. The price for a bar should be a little higher than a coin or jewelry. This makes it even more important to know the current value of gold and silver. It can change by the hour, so pay close attention to live gold and silver spot prices just before buying the metals.

Choose a reputable dealer online or locally. Do not complete a phone transaction for buying or selling gold or silver. When buying coins, don’t just go based on the spot price. The type of coin and its appraised value is also an important consideration.

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