Occasionally, silver is referred to as "poor man's gold." Due to their status as precious metals, silver and gold may experience price increases from investors seeking a haven during uncertain economic times. During inflationary periods, both precious metals keep their value better than other assets. It is important to know when to invest in silver.
Silver, however, may be viewed as the "rich man's copper" in another sense because it is employed industrially considerably more frequently than gold. Given that rising prices often coincide with economic expansion and increased demand for products containing silver, this can support silver as an inflation hedge in a way that hasn't been witnessed in the gold market.
Gold Versus Silver Investments
Silver is frequently referred to as the "second gold," says Roberta Caselli, a commodities research analyst at Global X ETFs, and it acts as an inflation buffer. However, two significant variations exist between the two precious metals: the added industrial use of silver and the size of their respective markets.
Silver is among the most famous jewelry, bullion, and coinage metals. It also has several industrial uses for electronics, solar energy, and electric cars. According to the most recent Global Silver Survey conducted by Metals Focus on behalf of The Silver Institute, industrial silver manufacturing increased by more than 9% to more than 508 million ounces in 2021.
In addition to the fact that silver bullion dominates the market by a wide margin over gold, investors should be aware of another crucial distinction between the two metals: "The gold market is massive; the silver market, however, is considerably smaller and tends to be more volatile," explains Caselli.
Investing in Silver: A Guide
Purchasing silver bullion is a common way to invest in silver. Customers can buy 99.9% pure silver bars in weights ranging from 1 ounce to 100 ounces and bullion coins like the U.S. Mint's 1 oz American Silver Eagles.
Also, investors have access to "junk" silver coins. Before 1965, the U.S. Mint added significant amounts of silver to every dime, quarter, and half-dollar it produced. Many of the coins lack collectible appeal, yet they nonetheless have worth because of the silver they contain.
Any investor looking to buy silver bullion should be sure to work with reputable, established coin or metal dealers like BOLD Precious Metals.
According to Caselli, "the benefit of physical possession is that its value closely matches the price swings of the larger silver market." Dealers' ability to charge premiums for buying and selling silver, which can significantly diminish returns, is a drawback. There may also be storage expenses, such as the price of renting a safe deposit box or purchasing a safe."
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