Like gold, silver holds off great worth, which may be as valuable as the former during the most tempestuous times. The only problem with it, though, is that silver can become incredibly volatile which is what makes it dangerous to deal with. Fortunately, there is a better way to overcome the risks of trading your silver coins.
Here are some few things that are worth knowing:
Join the Dealers
There is no better place to buy and sell silver coins in the UK than the dealers themselves, says Atkinsons Bullion. It is easy to spot and trade precious silver antiques in these areas because they know the clockworks of the trade. Along with that, an even smarter move you can do is to join the dealers yourself. This way, you will be able to buy and trade at better prices. Remember that it is always about minimising the cost and increasing the profit.
The True Worth of Silver
There are four essential things you need to learn to identify authentic silver from not. Not because someone claims that it is 100% pure silver, does not mean it really is.
First off, if you are selling silver scrap, do not expect to get the spot price out of it. Though there are items people refer to as “solid silver”, it is extremely rare to see authentic and real one. In fact, most silver coins from today and even in the past are alloyed because silver is brittle, which makes it hard for the silversmith to work on it. Minted or ingot coin are the only silver you can receive spot price for.
The second point is if you are interested in collecting silver try checking online auction first. Most sellers online do not put up a reserve price in the total value of the silver. The reason for this is because there bargains to be had. The value of silver content does not necessarily reflect the price.
The third reason why silver might look cheaper than their expected price is because of the competition against scrap merchants. Due to the increasing number of these dealers, it is increasingly becoming difficult to make out a good price even for hundred-pound worth spoon.
Silver buying and selling requires as much attention as the gold. Though it is a bit complicated in a sense especially in obtaining a good price for most of them, knowing what could possibly affect the trade is the best weapon you can have to overcome these.