So that leaves the ETF and physical. There are a few ETF but I find SLV is the best of the group. This will require you open a brokerage acct to but the ETF (trades just like a stock does). The issue with the ETF is over time, you will underperform the actual price as there are expense costs that are tacked into the ETF as well as commissions.
The best, in my opinion, is physical silver. The problem is that most places charge a premium over the spot rate when you buy, and give you well below spot rate when you sell. You also have the added value assocated with investment grade or collectible coins. The numismatic value (added collector value) will also be taken into consideration and can cause a disparity in the prices.
I was lucky enough to find a small group of people that trade silver amongst themselves using a 5% spot exchange ratio. What we do is the initiating party pays the premium on the exchange (either in cash or silver). For example, lets say I have a roll of silver US quarters, but I really want dimes. I get the silver value (use coinflation website) to determine the value of the quarters. Then deduct 5% and take that amount to determine how many dimes it is worth. Then we exchange quarters for dimes. Now if I had the quarters and someone in the group was looking to buy them, I would get a 5% premium.
So to answer your question, you have multiple options for investing in silver, but personally I prefer physical silver. And to be honest, I think the near $50/oz was a bubble and not likely to see again for many years, if ever...but you never know and because of that, I am holding on to my silver for the time being.
I have heard about people investing in silver. I looked up the value of silver over the past 10 years, in 2011 it climbed from about 15$ an oz to almost 50$ an oz. So yes, you can triple your money investing.
I bought 2 1 oz coins today for 50$. Just to see how they play out in the future.
Anything else you can add about investing in silver?
