As a precious metal, silver offers many benefits to any family on a budget. Whether you want to invest in silver to protect your financial future during an economic disaster, civil unrest, or for the zombie apocalypse, silver is a good choice for anyone preparing for his survival.
The Value of Silver
For thousands of years, silver has been a revered metal. It has many advantages such as a high monetary value. For investors, silver is a good hedge against inflation and deflation. During economic downturns, as the stock market and bond prices decrease, the prices of precious metals usually increase in value.
The price of silver continues to rise because it is used in many industries. These companies need and use silver to remain in business. For example, silver is used for dental work, medical devices and equipment. Silver is also in short supply, and as the demand for it continues to rise, its value and price increase.
Traditionally, silver and other precious metals don’t fluctuate in value or have extreme price changes as the dollar or the stock market does. Silver is more stable and offers fewer risks and less volatility than other forms of investments. This stability helps to make silver a good long-term investment.
Another important benefit of silver is that for centuries many nations viewed the metal as currency. Today, silver is still thought of and used as money. One of the best things about silver is that it is a liquid asset. This means the silver can quickly and easily be converted to cash.
The Options for Buying Silver
For most people who want to invest in silver, the easiest path is to buy stocks of silver mining companies or silver refineries. Another option is investing in mutual funds that deal exclusively with silver stocks, silver bullion or silver coins. However, for families preparing for their financial future during times of unrest, the best choice is to buy physical silver in the form of bullion.
There are three types of silver bullion——bars, rounds, and coins. Silver bars are more common than rounds and coins. Silver bullion bars are traditionally very heavy, and the main disadvantage is having a place to store the silver in a secure place. However, today, refineries create silver bars in a variety of weights and sizes, thus making it a more practical investment in preparation for unrest. These smaller bullion bars are lightweight and portable. The standard sizes are 1 oz., 5 oz., 10 oz., 1 kilo, and 100 oz. silver bars. Silver rounds are mostly available in a 1 oz. size, although 2 oz. rounds are also available. Bars and rounds are the same thing but have different shapes. These two types of bullion are produced in large quantities.
Silver coins, on the other hand, are minted in smaller amounts and are scarcer. This makes them more expensive to purchase than bars or rounds of the same weight and purity. Silver coins also have the national value of being a collectible. This also adds to the price of the underlying silver content. The most popular coins are the American Silver Eagle and the Canadian Silver Maple Leaf.
Buying silver jewelry is another good option because jewelry is easy to transport for exchange into cash. You can also wear silver jewelry. However, the aesthetic appeal of the jewelry, the design and craftsmanship, all add to the price.
How to Buy Silver
For families with limited funds, silver bullion bars or rounds are the best choice. They give you the best return on your money. With bars and rounds, you only pay for the silver content, and the dealer’s commission. After deciding on the weight of the silver bullion bars or rounds you want to buy, you also have to consider your budget. Buying larger quantities at one time reduces your cost per ounce of silver.
The best way to buy silver is from a metal dealer. There are numerous dealers available, many of which sell online. The most important thing is to find a reputable dealer with a long history in the business and a good rating by the Better Business Bureau. You can also ask friends and family members for recommendations of metal dealers. Ultimately, it is your job to do the research to find the best dealer for your needs.
With an online metal dealer, you place your order and pay for it. Within a few business days, you receive your silver in the mail. Some dealers may offer free shipping, and this helps to cut down on the overall cost. However, you will want to buy insurance to protect your purchase in case it is lost or stolen. Buying online is a simple process and you can always speak with a customer service representative if you have questions. Buying online is safe and secure if you work with reputable metal dealers.
Buying silver in preparation for a variety of scenarios is a smart move. Owning silver bullion bars, rounds, coins or jewelry offers many advantages. You can store the silver in a home safe, but also easily carry the metal with you and use it as money.