Here are some reasons to invest in silver for those considering getting into the silver market. The recent run up in the price of silver has sparked interest in the shiny metal among investors. However buying something because it is going up is a good way to buy something just as it is ready to go down in price. However, there are good reasons to consider investing in silver. Investors should do research into the silver market and buy at the prices that they believe provide an opportunity to profit.
Silver is Useful
Silver has a number of uses beyond those that are commonly known such as jewelry, flatware, and other aesthetic products. Silver is used in industry in a number of ways including in many electronics, for soldering and brazing, as a catalyst for chemical reactions, and as a component in many metal alloys. Silver may play a more important role in the future with its use in solar panels and high performance batteries.
The Silver Supply is Limited
While opinions vary on how much silver is left to be mined, the supply of silver being mined will someday come to an end. Mining silver is also costly and more stringent environmental standards may further increase the costs of mining silver.
Silver is Easy to Obtain
Though the supply of silver is not limitless, it is not difficult today to buy silver. The US Mint and other national and private mints still produce silver coins and bars. Older circulated American coins that were primarily made of silver are readily available from many sources including coin dealers, pawn shops, and internet auction sites.
Silver is Tangible
Silver can be held in the investor’s hands (and hid under the mattress if they so choose). While stocks, bonds, mutual funds, and other similar investments require faith in the company selling the investment and the government oversight authorities, silver can be secured by the investor. Silver can also be sold quickly and locally in most areas.
Silver is Portable (Relatively)
While walking around with large amounts of silver in your pants pocket is not a great idea, silver that is held in the home or locally (safe deposit box, etc.) can quickly be gathered up and moved if necessary. This is an appealing aspect for those fearing an economic collapse or a breakdown of civilization.