If you are paying attention to the financial gurus at all, then you have probably heard that gold is the hottest investment of the moment. It is true that gold prices tend to skyrocket when the stock market plummets, and gold prices steadily rise when the economy is in good shape. Buying gold bars and coins is certainly not a bad idea, especially if you are looking for ways to add a bit of diversity to your investment portfolio.
You shouldn’t overlook the value of silver, though. Silver has long been considered a precious metal, just as gold is, though the prices for silver are significantly lower. However, if you study the history of silver prices and the current trends, you will see that silver values are rising at a much faster rate than the values of gold and other precious metals. There are several reasons for the steady incline, but the point is that you should start considering silver coins and bars as investment, in addition to your gold purchases.
Silver is recognized the world over as a precious metal, and silver coins that are minted by the United States mint are more liquid than silver coins from any other source. This was not always the case, however, because there was once a flood of the precious metal in the market. Silver prices in the late 1890’s and early 1900’s were depressed and several silver miners feared the loss of their livelihood. The United States government bought up large stores of the silver, effectively stabilizing the market for the silver miners.
Those stores of silver are rapidly depleting, however. Uses for silver are being discovered every day, with medical, industrial, luxury, scientific, and electrical needs. Many of these uses actually destroy the silver, making it unusable again in any form. With the stores of silver disappearing and demands growing daily, the silver prices are reacting accordingly.
You can add silver coins and bars to your investment portfolio in several different ways. Your first step should be to speak to your financial advisor and discuss precious metals and how they can supplement your investment portfolio. Then, find a reputable precious metals dealer to decide which silver purchases are right for you. Precious metals purchasers can be easily defrauded, so be careful to conduct diligent research on the dealers that you choose. With careful selections and purchases, you can rest easy, knowing that your wealth is protected.