Generic Silver Bars

Whenever you are seeking advice on the purchase of silver bullion products, or any bullion products for that matter, one of the first pieces of information they will tell you is that you should only buy products that are in flawless condition. Typically this is true, but the condition or type of bullion you buy matters for different reasons to different people.

Buying generic or wholesale silver can be a great way to buy silver at a price under the spot value of the metal. In the following few sections you will find out just about everything you need to know about purchasing generic or wholesale silver and the benefits that can possibly be derived from doing so.

Benefits of Buying Used/Generic

For some investors, the silver bar that they are going to purchase needs to be brand new and in mint condition, but in reality, mint condition is not that crucial. When talking about silver bars, the condition of the bar itself does not usually matter because investors don’t invest for condition, they invest in the silver itself. Unless the bar is so destroyed that it has become unrecognizable or misshaped you can be safe in purchasing it.

A Collection of Generic 100 oz Silver Bars

Normal wear and tear will naturally be present on bars that have been around for many years, but this does not mean that the bar has lost any value. Bars only lose value once the silver that is physically present on the bar is destroyed. Barring any large scratches or chips in the metal, normal wear and tear should not be a deterent for purchasing a used bar. In fact, many highly reputable silver dealers sell used silver on a regular basis.

At or Under Spot Value

By buying used or off-brand silver bars you have a very good chance of spending no more than spot value for the metal which you purchase. In some cases you may even be able to purchase the silver for under the current spot value, though this usually depends on who the seller is.

At the end of the day, if the difference between a new silver bar or a used one of the same variety is only a few cents, go with the new bar. But if the used bar is being sold for a price that is significantly less expensive than a new bar it would most assuredly be worth your time to check out the used bar.

Words of Caution

Use your best discretion when purchasing used or generic silver bars because a lot of times these bars are sold by private parties who are hard to gauge as far as trustworthiness goes. To that end, another reason that your awareness should be increased when buying generic bars is because there is a risk of that silver bar being counterfeit. Counterfeits are few and far between, but they do exist and it is something that you should be aware of and careful of.

To mitigate the risk of buying fake material, always go with a reputable online silver dealer who inspects all their inventory before selling it. This will ensure you have the least possible chance of getting fake silver, and is much more reliable than buying from a third party individual. Also ensure to only buy pieces marked as .999+ silver, including a mintmark of origin.