Where to buy silver
Coin shop, online dealer or precious metals company? Each has trade-offs on price, convenience and service. Here's how to choose, and what to avoid.
By Prepper Metals Editorial · Updated October 2026 · Editorial standards
Local coin shops
See and hold the metal, pay and walk out with it, and build a relationship with someone who may buy it back later.
- Pros: no shipping, immediate possession, local buyback
- Cons: selection and premiums vary; compare a few shops
Large online dealers
Wide selection and published prices make it easy to compare premiums per ounce.
- Pros: selection, transparent pricing, bulk discounts
- Cons: shipping and insurance costs, wait for delivery, payment-method price differences
Precious metals companies
Companies that offer phone-based guidance and precious metals IRA services, often with a dedicated representative.
- Pros: help with IRA paperwork, custodians and storage
- Cons: product mix and pricing vary; ask about premiums and buyback before buying
Marketplaces & social media
Auction sites, classifieds and social media sellers can look cheap.
- Pros: occasionally good deals
- Cons: highest counterfeit and fraud risk, little recourse
What about the US Mint?
The US Mint sells collector products such as proof coins directly to the public, but it sells bullion coins like the American Silver Eagle through a network of authorized purchasers, not directly to individuals. Most people buy bullion coins from dealers.
Checklist before you buy
- Get the total price per ounce over spot, including shipping and insurance.
- Ask for the buyback price on the same product.
- Check reviews, complaint history and how long the business has operated.
- Know whether you're buying bullion or a premium/collectible product.
- Never feel rushed. A good dealer will let you think it over.
- Keep receipts and records for taxes and insurance.
Educational information only, not investment, tax or legal advice. Precious metals prices change constantly and can go down as well as up. Talk to a licensed professional about your situation. Full disclaimer.
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Keep reading
Sources
- U.S. Mint: Becoming an authorized bullion purchaser
- U.S. Mint: Bullion coins
- CFTC customer advisory: Beware of gold and silver schemes designed to drain your retirement savings
We check facts against primary sources where possible. Spot an error? Email hello@preppermetals.com. See our editorial standards.
Common questions
Where is the cheapest place to buy silver?
Prices change daily, so compare the total price per ounce, including shipping and insurance, across a local coin shop and a few online dealers for the exact product you want. Larger quantities and lower-premium forms like rounds and bars usually cost less per ounce.
Is it safe to buy silver online?
It can be, from established dealers with a long track record, insured shipping and clear return and buyback policies. Be cautious with marketplaces and social media sellers, where counterfeits are more common.