Dealers sell silver at a premium in order to make a profit. You can't go to any of the large online dealers like Money Metals Exchange and buy at spot price. However it will take a lot of time and effort to find the right seller. However it's always good to be well-prepared in case it does happen. So that's why physical silver is king.Īn emergency situation like this is probably not likely to happen anytime soon. Silver ETFs have become popular, but they would be completely useless in an emergency. The 1oz coins are great, as well as smaller junk silver coins like nickels, dimes, and quarters. For this reason, we recommend owning silver coins of different denominations. In a situation where paper money is useless, silver would likely be the most popular form of money. Silver is the perfect metal to have in a doomsday scenario. For something to be a store of value it needs to be rare and it needs to have secondary uses. All of these uses make silver a great store of value- better than the US dollar and even better than gold. There are more practical uses for silver than there are for gold. The price of silver is very unlikely to crash because there are so many different uses for silver, in a variety of different industries. With silver you can't just print out more of it- there is only so much in circulation and only a limited amount available to be mined. The yearly inflation rate is usually around 1-3%, which might not seem like much but it adds up over time. This causes inflation and it makes every dollar worth less. Every year the federal reserve prints out more money.
Just holding the US dollar in a low-interest CD or savings account is not good financial practice. Silver is a good hedge against inflation, because it's rare and there is a finite supply. It all depends on how strongly you believe in silver. Some people go with only 5% while others are over 50%. It's up to you to decide how of your portfolio will be dedicated to silver. For this reason it can be smart to diversify and have silver in your portfolio. It's risky to have all of your money in stocks, bonds, or any other type of investment. You shouldn't put all money in one single asset. Below we will review the most important reasons. There are many reasons to invest in silver. We hope that you can use this guide as a reference and we hope it answers most of your questions about silver investing.
This is our complete guide to buying silver. Also right now the price of silver is historically low, so it's a great time to buy. It has many different uses and silver has been used as money since 600 BC.
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