If you are looking to make your first purchase of silver, you will be surrounded with queries that are not easy to answer. Bullion India experts answer the commonly faced silver purchase queries for your guidance on how to buy silver.
Why should one purchase silver?
Silver and gold have been used since centuries as currency. Silver is a precious metal by classification, although it is processed closer to common metals like copper and nickel rather than like its counterpart’s gold, platinum and palladium. Research suggests that silver has seen an exceeding demand over the past few years, especially in the form of bars and coins. The demand was driven by a 76% increase annually in silver coins and bars. Many economists and analysts believe that the demand for silver will remain strong, due to its usability in various industries.
Just like Gold, Silver is also considered to be hedge against inflation, hence investing in the same is a smart choice.
What type of silver should one buy?
When choosing to buy silver in India, one comes across an abundance of choices to invest.
Typically, divided into physical silver and paper silver, similar to gold.
Physical silver is the one you can redeem and store. This is available in form of silver Bullions, which are high purity silver coins and silver bars. When investing for the future, bullions trump the other uncertified silver options, due to their purity, global acceptancy and higher resale value.
Paper silver can be availed in the form of silver certificates, silver ETF, silver future contracts and mining shares.
Where to buy silver in India?
Silver can be bought through retail store or online traders like the Bullion India website. Either of the means require on to be sure of the purity of silver offered, which can be verified by the engraved bullion bars or certificates that accompany the purchase.
Bullion India provides an easy means to buy silver in India. All one has to do is register on their websites through an often free account. This account gives the buyer 24×7 access to the available choices of silver and gold coins and bars, which are up for sale. All one needs to do is select the appropriate weight of silver to buy and make the applicable payments.
The advantage of purchase of silver from Bullion India is,
- The below market spot prices
- Free doorstep deliver
- Absence of brokerage in the transactions
- Silver a little as 1gm can be bought in a single transaction with ease.
Bullion India also offers one to avail SIP plans to purchase silver in large quantities in installment. One can choose to store the purchased silver in vaults for safekeeping available free by Bullion India. Making Silver purchases affordable and convenient.
When buying Silver in India, one should be aware of small pawnshops that sell impure silver at higher rates. It is always recommended one choose a certified bullion trader for silver purchases, to avoid risks of deception.