Silver is among the most-traded precious metals in the world. The metal has been used as currency for thousands of years and it is used in an increasing number of industrial applications as well. Like many commodities, the value of silver is largely determined by two factors: speculation and supply and demand.
Silver has been a way to store value, or invest, for thousands of years and it’s still a very useful investing tool. The value of silver has proven resilience and it’s become a favorite tool of investors trying to beat inflation. When you compare the value of the dollar to the value of silver over the last century, you find that you would have been much better off changing your dollars for silver coins a hundred years ago and keeping them there. Silver is a long-term strategy for maintaining wealth.
Collecting Silver Coins
Many silver investors also love collecting silver coins. They enjoy the hunt for rare and unique silver coins, as well as the unique artistry that goes into minting them. Many silver coins have numismatic value and if you’re looking to invest in a collection to display and pass down, consider collecting silver coins. Collectible silver coins are often available from silver bullion dealers like Silver Gold Bull.
Investing in Silver Coins
Investors who are more concerned with their bottom lines than the faces on their silver coins will want to stick to the latest silver bullion coins issued by national mints. With a few exceptions like limited mintage silver coins, the premiums will be based on what’s charged by the mint rather than numismatic value.
Strictly Bullion: Silver Bars
If your main goal is to save as much as possible, the best way to buy silver and gold is to buy it as bars. The heavier the bar, the better. Silver dealers cut premiums per ounce for customers who buy silver in bulk. Silver bars also tend to have much lower premiums than silver coins. Even a 1 oz. silver bar is cheaper to produce than a silver coin and many are produced by private refineries. The difference between a silver coin and a silver bar is that silver coins are technically minted currency. They all have a face value. In practice, no silver bullion coin has a face value worth more than the price of silver right now.
Once you’ve begun investing in silver, you’re going to need a place to put it. Many silver investors prefer to keep their silver coins and bars in a safe in their own home, but at a certain point that becomes impractical. The safest option you have is allocated storage offered by silver dealers Silver Gold Bull. Unlike bank storage, your silver is kept separate from other investors’. In a bank, your silver and gold will also be considered a deposit and therefore vulnerable to bail-ins if the bank runs into a financial crisis.
Start investing in silver and give your money lasting value. Inflation is inevitable and it will devalue your cash savings. Put that money in silver and protect your hard-earned property.