Silver bars, or silver bullion, is an expensive investment that must be carefully considered before purchase. Bars come in different sizes and weights and it’s important that you know the weight and purity of any bar before you purchase it. Mexico is currently the world’s largest producer of silver and is therefore the best place to buy. However, if you’re unfamiliar with the process, buying silver in Mexico can be complicated and confusing. Continue reading to reduce the confusion of buying silver in Mexico.
Familiarize yourself with the current price of silver. Like gold and the stock market, the price of silver bars fluctuates.There are several websites, like the one listed as a resource below, that are important to use so you know the cost of silver bars before you purchase them. This will help you keep up to date on the current prices so you can know whether you’re getting a good price or not. If the price of silver is down, make sure you’re paying less, especially if you plan on selling it later for a profit.
Know where to purchase silver. Finding silver bars in Mexico is easier than finding it anywhere else since Mexico is the world’s largest producer of silver. If you’re buying silver as an investment, you will probably want to purchase it in banks to make sure you’re paying closer to the market price. However, banks may not all have silver bars, and if they do, they might not be in good condition. Artworks shops sometimes have silver bars, but they may have been decorated and carved, so they’re very beautiful, but the decoration comes with a high price.
Make sure the silver bars are properly marked. Bars come in different weights and sizes, although the purity is typically 999 parts per thousand of pure silver. All of this information and the place where the bar was minted, should be marked on the bar or you should not purchase it.
Get a certificate of authentication. This shouldn’t cost extra as it should come with the purchase cost of the silver. If you’re worried that it might not be real silver, find an expert who knows what to look for and either ask questions or bring that person with you. Pick a reputable dealer and you shouldn’t have too much of a problem.
Some appliance stores carry silver, though it’s usually in coin form and not bar form. Still, it might be a worthwhile place to check out.
References and ResourcesTips for buying silver
More information about buying silver in Mexico
The Bullion Desk website