Disclaimer: This is from an original article I published years ago in Ezine Articles. This article is just as relevant today as it was when first published ( with the addition of the YouTube video ).
Video takeaways include:
- When you plan to sell your silver know the value of your investment
- Basic types of silver - generic, junk, numismatic, and constitutional
- The difference between wanting to sell and needing to sell
Silver coin ownership is a hedge against hyperinflation. Silver can in in the form of bullion or popular coins such as American Silver Eagles. Replacing a percentage of your paper money with silver protects your economic wealth. For the small investor you can buy one ounce coins, 10 ounce bars, or 100 ounce bars. It is recommend that you start with one ounce coins.
When buying from a coin dealer try to avoid long shipping times. You do not want to purchase from a coin dealer who has a very long shipping time. Some coin dealers have been known to take risks and go out of business. You do not want to see your money disappear.
After you have taken possession of your silver you then have two predominate options for the storage of your silver coins and bullion. While there is a great pleasure in physically possessing your silver you may want better security than storing your silver at home. You may want to consider getting a safety deposit box or looking on the internet for companies that will store your silver. Of consideration of course is the amount of money you have invested in your silver, the actual physical volume, and how easy it is to get your silver when you want it. Also, confidentiality is a big consideration.
Quote by Mark Skousen: Gold and Silver have always had value, never gone to zero. Can you say the same for stocks and bonds?
Keep in mind that silver is a commodity. When you find a silver dealer you are comfortable with do not hesitate to negotiate. Some silver dealers buy their product form silver wholesalers. There is haggle room so never feel that you are locked in at the rate suggested by the silver dealer. As in any business setting there are three things to consider. Reputation, fairness, and supply influence the position of both silver seller and buyer. Try to get the best price you possibly can.
Is silver a good investment? As a medium to long term investment silver is excellent. The short term is always volatile. However there is a greater demand than supply and the price is expected to increase. If fiat currencies go belly up then you have something to trade with as consumer prices increase. The gold rush of the past may soon give way to the silver rush of the future.
I have included this screenshot of my Bitcoin / Coinbase account to show the value today as opposed to yesterday. On 05/26/17 Bitcoin lost approximately $687.66 in value per coin. Losing 25 percent value is a significant problem. Now this might be a market correction that I hope swings in the favor of greater value with less volatility.
As a comparison / contrast I have included two charts of silver prices. One chart dated 05/25/17 shows silver climbing from $17.15 ( credit Infomine.com ) to a high of $17.43 on the second chart copied from Google showing the spot silver price dated
05/26/2017 at 5:00:08 PM ET.
My humble conclusion is that while Bitcoin still offers the exhilaration of an economic roller coaster caution dictates that we all need to hedge our economic futures with established commodities such as silver coins.
Please feel free to print and share this article with like minded people looking for financial advice.
Live well and prosper.
