Silver Bullion - Online Retail Store (2024)

FAQs

Is it safe to buy silver bars online? ›

You might want to stay away from secondary market retailers, big box store websites and auction sites however. But we've delt with so many great bullion companies over the years that we are confident you'll enjoy buying and your investment will be safe by purchasing gold and silver online.

Reporting Requirements

4 Items that require such filing include $1,000 face value of U.S. 90% silver dimes, quarter or half dollars, and 25 or more 1-ounce Gold Maple Leaf, Gold Krugerrand, or Gold Mexican Onza coins. Gold and silver bars that are 1 kilogram or 1,000 troy ounces require the filing as well.

I have 100% trust in their products, highly recommended to anyone who are into bullion products! I was looking for a reputable dealer to buy gold coins that provides a storage as well. After a lot of research, I decided to try SilverBullion. The prices were very competitive.

Buying silver online is often the most affordable and convenient option for investors. Online dealers typically offer lower premiums and a more comprehensive selection of products than local coin shops.

Coins or Bullion

Physical silver can commonly be purchased online, though local dealerships or pawn shops may also offer carry physical silver. If you're looking to buy larger quantities or want to own physical silver not in the form of coins, you may need to see out a specialized dealer.

You pay less and have access to a wider selection

Most online dealers charge lower prices, as they do not pay for salaries of shop attendants, shop rent and utilities like energy bills, various overhead costs, etc. Many online dealers will also cut you a deal where shipping may be free.

The IRS requires entities, such as brokers and financial institutions, to report sales of certain silver assets on Form 1099-B. However, some silver sales may not trigger a Form 1099-B filing requirement.

However, certain bullion products are exempt from this reporting rule. Gold coins with fractional denominations, for instance, don't need to be reported. Also, sales of Gold or Silver American Eagle Coins aren't reportable events. To report the sale of these coins, dealers must file Form 1099-B with the IRS.

Although there is no federal law that explicitly states that the government can call in your gold, during extreme crises the government has the means to seize it whether it comes in the form of an Executive Order or a law.

The Cons of Investing in Silver

One of the biggest drawbacks is the potential for loss due to price fluctuations. The price of silver often moves in the opposite direction of the stock market, so it can easily lose value during economic downturns.

Is it better to buy silver coins or silver bullion? ›

Most day-to-day investors will prefer purchasing silver coins. Junk coins, silver coins that hold no numismatic value but are still worth something because of their precious metal content, are a great choice. They're inexpensive and easy to buy in bulk.

TAXES IN CALIFORNIA

The state tax is 7.5% (which can be altered by local authorities) on bullion coins and bullion bars, and also on rare coins. Basically anything that falls under the umbrella of a precious metal is subject to this altered regional tax.

Silver bars are a popular asset because they can be sold fairly quickly and will always retain a reasonable amount of value. Sell your silver bars when the market price for silver raises above the price that you originally paid for it to make money on your investment.

American Hartford Gold - Best place to buy gold and silver online overall. Oxford Gold Group - Best for personalized gold investment solutions. BGASC - Best for collectors seeking rare coins. APMEX - Best for a wide range of gold and silver products, including collectibles.

While many of the coins have no collectible appeal, they maintain value tied to their silver content. Any investor buying silver bullion should be sure to use reputable, well-established metals or coin dealers, such as JM Bullion, APMEX and SD Bullion.

One of the easiest ways to tell between real and fake silver is with the ice cube test. To perform this test, place a cube of ice over your silver bars and coins. If they're made from actual silver, the ice should start melting quickly.

The risks of buying silver bars and coins

To start, one major drawback is that silver prices have historically exhibited higher volatility compared to gold, with more frequent price swings in the shorter term. This volatility generally requires a strong risk tolerance from silver investors.