When people think of investing in precious metals, what runs through their minds is gold. However, silver is equally awesome and can at times surpass gold as an investment option. In this post, we will answer the primary question, “Is it a good idea to invest in silver?” Keep reading as we outline the top five reasons why you should buy silver bars.
Silver is Actual Money
Although silver is not designated as a currency in many jurisdictions, the truth is that it is still a type of money. Indeed, experts indicate that silver is actual money because it cannot be created using paper or sold as a digital currency. Note that when we cite real money, it is actual silver bars instead of ETFS or future contracts.
When you buy physical silver, it holds the value very well, just like gold. This means that there is no counterparty risk. So, you place an order for silver online and it is delivered to your selected storage facility.
When you own real silver bars, you get a tangible asset that you can hold and say, “I own this.” It is not like stocks or cryptocurrencies, which you can only show through codes on the selected broker’s account or blockchain network.
Silver is Cheaper than Gold
As we mentioned earlier, silver is a good commodity that holds against recession and inflation, just like gold. However, you might find it a better investment option because it is cheaper than gold. For example, silver can be acquired at approximately 1/65th price of gold. So, if you are unable to buy or find gold undesirable, silver can be an excellent alternative. It is also a good option as a special gift to your loved ones.
Investors Find Silver a More Practical for Daily Small Purchases
Some people indicate they prefer silver because it is cheap, but it is also more practical to sell. However, it works well when diversified with gold. For example, if you want only to raise a small amount of money, it will be a good idea to sell silver bars as opposed to gold. Again, silver comes in small denominations, implying that that selling is also easy.
In a Bull Market, Silver Outdoes Gold
Silver is a pretty small market and every movement can impact the price with a great margin. Because of its high volatility, it implies that the price of silver drops faster than gold in bearish markets. In a bull market, silver will move faster compared to gold. You might even get some investors indicating that silver is “boosted gold.” Let us demonstrate with an example:
How to Invest in Silver Online
Now that you know silver is an excellent commodity for investment, how exactly do you buy it? Well, it is pretty simple. Here are the four main steps that you should use to buy silver bars online.
1. Make the big decision to buy the silver as an investment. This means setting aside a good budget for buying silver. So, how much are you willing to use?
2. Select a good online silver dealer. Take a lot of care to avoid falling into the hands of scammers.
3. Visit the online dealer and place your order for silver bars. Make sure to confirm all the costs, including freight and insurance to avoid being slapped with unexpected fees.
4. The silver bars are delivered to your home or selected safe repository. Remember that using a repository attracts an annual fee for safe keeping.
If you are thinking of investing in precious metals, silver can be an excellent option for your portfolio. It is cheaper, easier to buy, and sell. No matter the quantity of silver bars you want to buy, ensure to work with a good dealer, especially GoldAvenue.
