Many consider investing in precious stones an excellent and beneficial investment, and the most preferred and common method is buying silver ingots.
According to reports, the mine production of the precious metal silver came to a global total of some 25,000 metric tons in 2020.
However, before you go out there and look for the right provider of high purity silver ingots for investment, you should know that not all those providers can be trusted with your money.
You might find yourself as one of those who have fallen victim to a scam, but it can be avoided if you do your research beforehand.
This guide will help you identify the right platform for your investment in silver and how you can avoid scam websites that offer low-quality or fake silver.
Why Go for Silver?
Investing in silver is a good option as it provides a high degree of security, significantly when the value of gold rises, but at the same time, falls short of having all those negative aspects that come with investing in gold.
Silver comes in very handy when there is a need for an increased liquidity position to pay out debts or cover any financial difficulties. It is easy to liquidate and unequally distribute over various sectors like industry, jewelry, and technology.
How to Find the Right Investor Platform
Here are some tips to help you.
1) Check the License and Associations
Many scam websites and companies try to make you believe they sell high-quality silver but, in reality, have no way of proving this.
To find the right provider from whom you can buy high purity silver ingots, you should always check if they have a license that allows them to do business as precious metals merchants and importers.
By simply doing an online search for the company’s name, you should easily find any associated companies or organisations they are a part of.
If they have been an active member of one or more associations, you can rest assured that their business is legit, as these associations tend to keep a close eye on their members.
2) Know Where the Silver Comes from
One of the aspects to consider is acquiring their silver and certifying such compliance.
The best thing with most reputable providers is that even if they sell you a product that does not meet specific requirements, your investment will not be lost as there are legal regulations that ensure you get reimbursed.
It is vital to check the following aspects:
a) Validation of the Source
The first thing you should do to ensure that your silver investment remains protected is to know where they source their products. You can search online to know what association has provided them with a license to sell their products.
Again, these associations will not allow their members to be scammers and use trademarks unlawfully.
b) The Certificate of Authenticity
It is an important document that ensures that the silver you buy is pure and only comes from one source or location.
If possible, get in touch with the company and ask how the silver is validated and where it comes from, as this will help you understand more about their procedures.
These are certain things to keep in mind to help you find a legitimate dealer.