Where Should You Buy Silver Bullion?
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Silver can be purchased in many different forms,as long as the buyer can pay the right price for it.
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Bullion: Silver bars that are made from silver that is at the very high purity level (99.9%) or a silver bullion that is produced by a government mint.
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Governmental Coins: Governmental mint coins that are minted from silver.
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Medallions and Silver Rounds are actually round pieces of silver that look like small coins,but are not legal tender.
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Minted silver bars,because of their finesse and complexity of production,have a more expensive premium than cast bars. Some stackers or investors choose their silver products based on how liquid and sellable they are; in other words,they need something they can quickly convert to cash in the event of hyperinflation or a market crash. It would be much more complicated to exchange silver bullion bars that are much larger than the smaller ones in a market crash.
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What does Silver sell for on the open market?
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You pay for silver based on the spot price,as it trades for on global commodity exchanges,plus a premium. The price that people pay for the silver bullion depends on the spot price and the bullion premium,which varies widely. Premiums for silver bullion are dependent on different tax rates and costs associated with the minting,packaging,and marketing of the product. Silver spot prices fluctuate depending upon many factors,including the price of silver or gold,and the value of silver bullion coins.
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Because silver is a scarce commodity,people need to continually replenish it in order to obtain the resources that they need.
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It is difficult to predict silver’s future value based on current global monetary and interest rate markets and other factors,but silver is increasingly valuable due to its intrinsic value and its inherent ability to conduct a safe,stable investment strategy,and its accessibility at -.
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Bullion premiums are added to the price that a product is sold for,based upon the fact that it is worth more than its spot price.
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Silver has been in demand for consumer electronics due to its conductivity. Likewise,medical instrument manufacturers demand continually higher quantities of silver for use in the manufacturing of surgical instruments.
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The Origins of Silver
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Silver,a rare element in the periodic table of elements,is represented by the number 47 on the periodic table. Silver comes from the Latin word for “silver”: “argentum.” The English ”Silver” is derlived from the Anglo-Scandinavian word for silver,“siolfur”. Silver is thought to have originated in the Asiatic region around 3,000 BC. Old maps of silver deposits date to roughly 500 BC. Early records suggest that the first people to produce silver from a silver mine were the Chaldeans. Silver coinage dates from about 550 BC,but silver coinage dates back much earlier,in the period when coins became available.
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In 1492,Christopher Columbus discovered that silver was common in the Americas. Spanish investors forced native peoples to mine silver for a large profit. The result was that Bolivia,Peru,and Mexico produced 85 percent of all silver produced and traded worldwide between 1500 and 1800.
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Over 880 million tons of silver are mined every year.
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Most silver is extracted by stripping lead from old silver mines in order to extract silver. Galena,a mineral that occurs naturally in various lead sulfide rocks,is an excellent investment because it is very safe. It is not unusual for silver to be more valuable than lead,because it is far more valuable than lead. Miners of silver however often face lead poisoning risk. Some slaves in South America,who mined 70,000 to 150,000 tons of silver between 1500 and 1800,died of lead poisoning within two or three years.
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Because pure silver is often enriched with precious metals such as gold,lead,or copper,miners often turn to a different mine to produce other valuable mineral ore. The process by which silver is melted down by a furnace extracting silver from the ores.