Silver is a precious metal that is underestimated. It is the cheapest precious metal. This is why it does not get as much attention as gold or platinum. Silver is the best electrical conductor in the world. It is even better than gold although just slightly. However, it is once again much cheaper and an industry favorite. Technology and communications industries heavily rely on it. Over half of all silver that is mined each year is used in industries other than luxury.
Top Industries That Currently Rely Heavily On Silver:
- Health and medicine
- Communication satellites
- Solar panels
Since it has such a high demand for practical industries and is relatively inexpensive, it has a very stable inherent value. If you are to invest in silver, it is not recommended that you choose coins unless they are proof coins. You would not want to invest in numismatics or collectible coins if you are unfamiliar with their collectible value and do not have access to collectors. One reason investors favor gold over silver is because of the physical bulk of silver. Since gold is generally worth over sixty times as much as silver, it requires a lot less storage space.
Tangible Asset Investing & Storage Options
If you store silver at home and plan to buy bulk for economic security, you will need a large safe. Large safes are not cheap. Another option is to take advantage of a silver IRA. A silver IRA means you get to use some or all of your retirement assets to purchase precious metals. In this case, it means silver. It also means that you do not need to worry about the storage and security yourself. A custodian will purchase the metals for you and the silver IRA company will store them either in your home country or abroad. For more information on using your retirement assets to purchase silver, just read our quick article and watch the videos here.
You can chose to store your metals in a foreign country to get tax benefits. This is completely allowed by the Internal Revenue Service for US investors. Singapore has been an investor favorite. This is because they provide excellent security and low rates for storage. Also, they provide some of the best tax benefits. Some investors would prefer to keep their assets closer to home for personal reasons. During an economic collapse, you will want to be able to access your assets quickly and easily. This would be difficult if they were stored abroad.
There is a limited amount of silver on Earth. We can only mine what is currently in the ground. When that ore is gone, there is no more to replace it unless it comes from outer space. Stars produce heavier metals when they begin to die. During a supernova, they explode and send these heavier metals across the universe. Some of it is silver, gold, platinum, etc and can be carried across the universe in the form of asteroids. The Earth’s silver content will only be replenished if one of these asteroids hits the Earth.
Since silver has such a high demand and limited supply, the inherent value will only continue to rise. Sure there will be dips here and there in the price, but that has to do with government regulations, changes in demand of the luxury industry, and other insignificant variables. Those who had invested in silver ten years ago have experienced a growth well over seven fold. How many reliable big company stocks can say that? That is just the thing. With silver you also get reliability. A physical asset can never collapse.