Silver is an affordable alternative to gold and is the precious metal used to produce many popular collector coins around the world. It’s important to learn about the different forms of silver, their weights and purity, and how they affect price when buying and selling. This article will share tips for successful silver buying and selling, including tips on avoiding common mistakes that can impact your return; understanding the importance of proper storage; the best way to clean your silver; and more.
The Silver Economy
As the global population continues to age, silver has emerged as a powerful economic force. A new generation of consumers is seeking ways to diversify their investment portfolios with tangible assets, while also providing for themselves in later years. As such, the silver market is booming.
Educating Customers
Establishing a trustworthy reputation in the silver industry is essential for any buyer or seller. Providing comprehensive education to your customers is a great way to set yourself apart from competitors, as it shows that you’re dedicated to giving your clients the best possible service. Taking the time to answer questions and make recommendations will give your audience confidence that they’re dealing with an expert in the field.
While it might be tempting to run your fingers across a shiny silver coin, doing so can speed up the tarnishing process. Instead, be sure to wear cotton gloves when handling bullion and preferably use tweezers when picking up small pieces. It’s also a good idea to store your silver in an airtight, dry place — higher levels of humidity can cause it to tarnish more quickly. Adding silica gel packets can further help to reduce tarnishing.
Understanding Weights and Measures
It’s important for silver sellers to understand the complexities of their products, including the difference between weight (measured in troy ounces) and pureness (measured in millesimal fineness). Accurate Precious Metals educates sellers on these differences so they can receive a fair and equitable offer.
As a high-value asset, it’s crucial for buyers and sellers to keep their transactions private. Avoid laying your coin collection on display in the middle of a shop, and instead meet in an office away from general foot traffic. Doing so will protect your privacy, and ensure that you’re receiving a fair exchange offering. If you are looking to buy or sell precious metal in Columbus make sure you go to a reputable Cincinnati silver dealer who can help you on your transactions.