Silver (and the value that comes with it) comes in several different formats. Which one is best for you? What are the risks and the rewards for each of them? Here is a list of different silver related products and the advantages/disadvantages of each of them:

Physical Silver

Silver Bars – Bars are very common. They come in many different sizes. The most common size is 10 oz bars.

 Advantages:    Bars are easy to stack and store away. The math is usually easy with bars when calculating value with respect to "Spot" price.

 Disavantages: Bars smaller than 10 oz tend to have a higher premium price and bars of 100 oz or higher may find it difficult to find a buyer at a decent price.

Silver Rounds – Rounds are also very common. Most rounds are 1 oz. "Fractional" ounce rounds are quite rare for silver, as opposed to gold. The US common minted round is the "Buffalo" round.

 Advantages:    Storage "tubes" make rounds fairly easy to stack and store away. The math is super easy with 1 oz rounds when calculating value with respect to "Spot" price.

 Disavantages: The aesthetic value of some more ornate rounds may increase the premium you pay upon purchase, and may cause some rounds to be worth a little bit more than others.

American Silver Eagles (ASE) – Official silver bullion coin of the United States. You might say they are America's Premium Round.

 Advantages:    These are extremely popular and have extra aesthetic value, but are very easy to sell.

 Disavantages: You will pay a significantly higher premium for ASE's.

Peace and Morgan Silver Dollars – These Silver Dollars are 90% silver. The Morgan's (1878-1904 & 1921) will bring a better price than the Peace (1921-28 & 1934-35) mainly due to their age.

 Advantages:    Very recognizable. Fairly easy to unload. You may run across a rare one that could be worth hundreds of dollars, i.e. 1928 Peace Dollars.

 Disavantages: Unciruculated/Mint condition coins have varying collectable value which makes it difficult to determine worth. Stackers usually avoid collectibles.

Junk/Constitutional 90% Coins – US Minted Coins prior to 1965. A favorite of many hard-core silver junkies.

 Advantages:    Versatile since it has various/smaller sizes of coins. Very illegal to conterfit. Usually has the smallest Buy/Sell mark up % of physical silver.

 Disavantages: The math on calculating value can be a challenge, i.e. may need to multiply face value by numbers like 18.5. Caution: Kennedy Half Dollars 1965 - 1970 are only 40% silver. Usually stored in bags and can be awkward. Not easy to determine face value quickly by sight.

Other Silver Related Products

Paper Trading Trading "Futures" on the COMEX is what dictates the price of silver. Futures are traded electronically, usually through stock trading platforms.

 Advantages:    Virtually no premiums. Can make some fast money.

 Disavantages: Large working capital is needed. COMEX integrity is highly suspect - need to utilize stop loss orders.

Silver Mining Stocks – Stocks of Silver Mining Companies will be more volatile than the price of silver itself. Small cap stocks, even more so!

 Advantages:    Usually higher profit than spot price of silver. Virtually no premium.

 Disavantages: Individual company risk (ETF's solve this problem!)

ETF's – "Exchange Traded Funds" for gold, silver and other commodities are based the price of such item. ETF's can also be based on a given sector in the market.

 Advantages:    The SLV ETF is excellent for short term trades and trading options. SILJ is an ETF of Silver Junior Mining Stocks; great for managing risks on volatile silver mining stocks. Virtually no premium.

 Disavantages: SLV is highly suspect regarding backing the fund with adequate amounts of silver. Could be a very dangerous long term hold.