For many years, since silver and gold stopped being part of the regular legal tender of the United States and other nations of the world, silver has been purchased as an investment metal and/or a hedge against inflation, allowing people to retain at least some of their wealth in a form which is likely to have a stable absolute value over time.

Silver and gold are the two most popular precious metals, noted for their everlasting resistance to corrosion or oxidation, their softness coupled with an incongruously high melting point, their beauty, and their rarity among the minerals and ores found in Earth’s crust. Of the two, silver has more practical uses in industry and medicine, due to its high electrical conductivity (higher than that of copper) and its natural sterility (whose existence has been proven, even though the mechanism is still largely mysterious).

Though people have been purchasing silver, buying it and selling it, or hoarding it, for decades, this was a fairly inconvenient process for a long time. Prior to the appearance (and rapid efflorescence) of the Internet, it was necessary to journey to a physical, brick and mortar silver dealer in order to buy silver bullion. Since these stores needed a large population very close by to support them profitably, most were located in large cities, meaning that people in outlying towns often had long, troublesome trips to buy a little silver.

Then, of course, there always the issue of availability. A brick and mortar store usually did not stock a full range of the world’s silver coins, like a website can. The reason for this was simple – because of the limited area from which buyers might come, only the most popular coins were profitable to stock and sell. Any silver selling website can tap into a market that stretches anywhere that the Internet is available, from the frigid fjords of Greenland to the hot, dusty plains of Kazakhstan.

One of the foremost factors that has allowed the Internet store to supplant the brick and mortar store as a source for silver and other precious metals is the nearly universal acceptance of credit cards and, in some cases, PayPal by these web-based firms. The modern silver buyer should take to equip themselves with some form of electronic payment, be it a credit card, a debit card, a stored value card, or a PayPal account.

How To Buy Silver With Credit Card

Credit cards here is a catch-all phrase meant to include all credit cards, debit cards, stored value cards, and their ilk, and regardless of whether they bear the Visa, Mastercard, American Express, or any other brand name on them. Currently, it is possible to buy silver with AMEX, Visa, Discover, Diners Club and Mastercard credit cards.

If you want to buy larger amounts of silver, you should check with your credit card issuer to see if there is a daily limit on the amount of money you can spend with your card. If this sum is too low, you will either need to seek a raising of your credit limit, or else rely on other methods such as bank wire transfers and cashier’s checks to pay.

Note that companies such as APMEX (the American Precious Metals Exchange) will accept credit cards, but often charge a slightly higher premium on the silver bought in this way to help offset the risk they are taking on by accepting orders via credit card.

Furthermore, it is often possible to purchase silver with a credit card if you are located in the same nation as the company you are buying from. Many silver sellers will not accept international credit card payments, and if you are buying from abroad, you will very likely need to make other arrangements such as buying with wire transfers and the like. This is also true of APMEX who will not accept credit card payments from international buyers, only those based in the USA.

Note: Always remember that credit cards should not be used to purchase silver at the cost of accumulating an oppressive hill of debt that will torment and burden you for years to come. Use your credit cards within limits you are capable of paying off, and employ them only for speed and convenience, not to buy far outside your ordinary means.

Buying Silver With PayPal On The Internet

Establishing a PayPal account is a good way to get some readily available electronic cash on hand in order to pay for your silver purchases. PayPal is essentially a debit service, not a credit one, so in most cases you will need to place your own money into the account before you can spend it; PayPal itself does not automatically extend you a line of credit, though some options offer nearly this arrangement.

You will need a valid bank account and a valid e-mail address to make full use of PayPal. The bank account is needed both for verification when you first set up your account, and so that you can electronically transfer money into the account (or have the account draw directly on your bank account).

When you set up your PayPal account, you will have the option to confirm your bank account. This is done by typing in your bank routing number and checking account number – information which appears printed somewhere on your personal checks (frequently along the bottom).

Some companies will list PayPal as an option for payment and will include a PayPal payment button on the checkout page – one of the options along with bank wire transfer, credit card, and so on. In this case, you will only need to log into your PayPal account at some point during the checkout process, and confirm that you do indeed want to make the purchase of silver or gold. This has the major advantage of revealing nothing of your credit card or other personal information, beyond what is needed to complete your order and ensure that it is shipped to your address.

In other cases, you will need to use a PayPal debit card to pay for your purchases. This card is useful mostly for small to medium orders of silver, because there is a $3,000 per day maximum spending limit in place. This makes the card less than ideal for large purchasers – for example, one cannot even obtain 2 ounces of gold for $3,000. Smaller buyers may find it to be quite handy, however.

It is also fairly easy to become a Preferred Rewards member of the PayPal debit card program. This will give you a bit of cash back on purchases made with the card, and though the amount is not gigantic, it still helps to offset the premium over spot, shipping charges, and so on.

Finally, the PayPal debit card also allows you to set up an “alternative payment method” if desired. This links the card directly to your bank account, so that if there isn’t enough money in your PayPal account to cover a purchase, the excess will be withdrawn automatically from your bank account. Beware of using this method too freely, however – although it is a very convenient feature, you do not want to slip up and end up with a large overdraft on your bank account.

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