First, read up on it. The price is pretty good now but isn't expected to rise any time soon--so if you are looking for silver both for diversity and as a long term investment it isn't stupid, but for most other situations it probably isn't your best option. Nearly every financial expert is recommending stocks over metals. Silver prices haven't even jumped by much during any of the market corrections or downturns of the past couple years.
I found that gainesville coins has a low markup and easy sell-back policy, but there are so many companies out there that I can't swear they are the best.
"If you already have a brokerage account I would sell puts in the silver ETF SLV. "
Just call 'em up and tell 'em you want to start selling puts huh? My bet is that TexasTax has never traded an option in his life.
Your broker won't let you do this in all likelihood because selling puts on a volatile metal is not a beginner way of investing in anything.
If you already have a brokerage account I would sell puts in the silver ETF SLV. That way you have a lower cost basis (you also have a limited upside potential) but you can do that on a small amount of money.
The price of silver and other precious metals on average keeps up with inflation. That is better than burying your money in the back yard, but not by much.
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I'm 21 years old and looking into investing in silver. What are some recommendation to start?
