A few months ago, I made a trip returning to Minnesota where I spent my childhood years and was surprised that my mother found a 90% silver Franklin half dollar which I set aside since I was a teenage boy. As a young lad I had been a lot more fascinated with the older coins because they seemed distinct from the half dollars manufactured with copper and nickel. It really is to bad that I did not save more than one Franklin half dollar. I started off purchasing silver in 2011 and I more or less assumed that I got into the game to late because the price of silver had doubled in a year. I leaped in with both feet when I learned that the US dollar had no authentic value. Ever since I discovered my first silver certificate as a kid, I learned that the US was off the gold standard. One of the factors that has concerned myself for a long time is that the US dollar is backed only by the good faith of the federal government. I quit believing in Santa Claus years ago, nevertheless I possess more faith in Santa Claus than I do our Big Brother in Washington. Do you see how crystal clear this is?
Because silver has fairly recently decreased in price, I am acquiring at the reduced price. Will precious metals continue to fluctuate in price? Certainly. Precisely what we don't understand is by how much. In order to avoid paying off the insurmountable financial debt repayments, many nations still print out or add more electronic currency. All this specific does is debase the money supply. In essence, your capital is getting stolen right in front of your eyes. Precious metals secure in the current value of your cash.
3 Important Things Your Banker Will Not Let You Know About Investing In Silver
In the last 30 years, the amount of silver excavated has not kept up with the quantity of silver used. This can only mean that silver will go up in value as the supply decreases. There is less investment grade silver out there than investment grade gold. Silver is so scarce that there is not even enough for every individual on this planet to own more than a couple of grams.
At the moment, the price ratio of gold to silver is about fifty to one. Historically, it has been around 15:1. This is equivalent to 50 ounces of silver to purchase 1 ounce of silver. If the ratio goes back to the historical ratio, we could see a large increase in the price of silver.
Silver is used industrially for manufacturing computer chips and other electronic. If you are reading this article on the Internet, then your computer or smart phone industrial grade silver was used in the manufacturing process. On planet Earth, there is no other metal that is as conductive, thermally resistant, and reflective as silver. There no other substitutes.
The Best Places To Buy Silver Bullion Coins
If you are a newbie and would like to acquire silver coins, I would head right on down to your local coin dealer if you have one available in your area. I have 2 favorite local coin sellers that are like precious metals encyclopedias. Wander into any successful coin store and you will find the owner(s) enthusiastic about their enterprise and extremely willing to reveal valuable information and facts with you. Small-scale coin retailers work on small margins. I was able to purchase American Silver Eagle coins for $2 over the spot price of silver at Chris's Jewelry in Fremont, CA. Silver Eagles always have a premium.
If you live in an area without a local coin or jewelry shop, then the process is as simple as going online. My favorite place to get information online for buying silver and gold coins is GoldSiver.com. This site is live and will give you all the information that you need for buying precious metals. It's a complete knowledge center for owning silver and gold bullion coins. People living in abroad in nations like the Philippines or the European Union can take advantage of purchasing the silver and having it delivered or stored in dedicated storage.
The fundamental reasons for owning physical gold and silver coins as opposed to paper currency has always been a sound principle. Because the fiat currency could soon be worthless, safe hard assets like silver and gold are viable option for storing your wealth.