Silver is a profitable investment. Many are attracted to invest in silver because it is cheaper than other types of venture like stocks, bonds, gold and platinum. Moreover, silver has many uses. According to research, the demand for silver in 2009 rose significantly. Forty percent of the total requirement for silver goes to industrial applications like jewelry and bullion coins. Silver come in various forms and sizes. One of the most well known forms of this precious metal is silver bars.
Silver bars are available in two weights - the 10oz and the 100oz. They can be readily poured into molds. Though, it is rare, silver may also come in 1oz and 5oz bars. They are called bars because they are uniform in shape and they are rectangular in form with rounded edges. It is important to note that when it comes to silver and other precious metals, people always measure them in Troy Ounces. Then again, people often mistake them as regular ounces. Always remember that troy ounces are relatively larger than regular ounces.
The thing with silver bars, they are impossible to ship around! However, may investors are still attracted to these precious metals because it is a tangible source of investment. Having that said, some, people are really not bothered even if they a couple of dollars for shipping. Furthermore, if trading this metal, remember that there are people selling and fake silver bars and coins. Those in the precious metal industry must know how to master the art of trading this precious metal in order not to be ripped off its true value. If you have silver bars in your possession and you wish to sell them and earn extra cash, here are a few tips:
Sell Silver Bars Online Just like with other forms of silver like jewelries and coins, you need to determine first the value of your bars before you put them up on sale. You can check out the prices of silver bars online and compare it with your rectangular item. Also, be certain that you pick a reputable site to advertise your items. eBay is a good website to promote items because there are plenty of people who use this site to buy and sell all sorts of products. Moreover, you need to have a good picture of your bars so that interested buyers will see what you are actually selling. In ebay, people can bid on items. You can get a good bid for your precious bars just try to be patient.
Visit Your Local Pawns Your local pawn shop not only buy gold but silver as well. If you will sell your silver bars be sure that you are aware of the spot price of silver. You save on shipping fees if you will be selling your items to pawn. The only catch is that pawns tend to haggle and they may offer you low price for your silver piece. If you are not in a hurry to sell your silver bars, you can visit different pawns in your area and check which one can offer you the best price.
Consult With A Dealer Dealers can be your best bet if you want to sell your silver bars at a good market price. You can find local and online dealers who may be interested in your items. Usually, they pay high for popular brands.
Silver bars are very volatile especially when the economy is unstable. You may want to try providing a high market value for your silver because the demand for this metal is also high. Check out your competition rates to be sure that your price is reasonable.
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