When it comes to purchasing silver many of us will automatically consider the internet first. However, when first starting out it is often more comforting to be able to speak in person to an expert who can guide us on our decisions.
This is especially true when we are still deciding on what form of silver we want to purchase. There are many coin shops that provide excellent ranges of products and have owners and staff with decades of experience in the industry.
A Bespoke Portfolio
Good coin shops can help you to build exactly the right portfolio to suite your needs. For example, some coin shops focus on bullion, others rare coins for numismatic collectors. Buyers that have a bit more experience can also opt to buy their silver from pawnbrokers and look out for some bargains.
Pawnbroker Bargains
Pawnbrokers are in the novel situation that many of the people that sell to them are looking for a quick sale. Therefore, they can pick up products at incredible prices. Silver investors can often in turn benefit from silver at or sometimes below silver spot price. Many pawnbrokers will be extremely knowledgeable about the price of silver and rare coins, but sometimes it’s possible to pick-up a bargain investment.
Local Coin Shops
It can be very difficult to find coin shops in your local area. Not all of them are well promoted on the internet and the best tend to be kept busy by repeat business. Talk to other investors and collectors and get an idea of who they use for their different silver needs. Here are some starting points to visit where you can speak to knowledgeable experts in some of the larger USA cities:
- Coin Shops in Los Angeles
- Coin Shops in Houston
- Coin Shops in Phoenix
- Coin Shops in San Diego
- Coin Shops in San Jose
Buying Locally Will Probably Cost More
When you buy coins locally, you are likely to have to pay more for your silver. Local shops have higher overheads than online retailers, and also have lesser reach into the market, which forces them to have wider spreads just to stay in business.
They also normally hold a lesser selection of products than are available online, simply due to cashflow considerations. However, you can pick-up your coins there and then, and you do have the added benefit of knowledgeable experts to guide you. This can be truly invaluable.
Online or Offline
Whether you choose to buy online or offline locally will depend on your experience and your priorities. Many people will check out their local coin shops and pawnbrokers in order to pick up a bargain and to increase their knowledge, but will combine these activities with consistent online purchasing behavior.
Regular investment is a key to building a successful silver portfolio and this is perhaps more easily achieved online where the breadth of choice is better and availability more consistent.
The local routes to market certainly have their benefits and will provide hours of interest as you browse through collections as well. Engaging in your local silver community in the form of coin clubs and events can also provide a real boost to your expertise and enjoyment too.