How to invest in Silver
In our current economic times, investing in silver makes sense and is a prudent approach to protect your assets and your purchasing power. Silver, like gold, may be used as an investment. Silver has been regarded as a kind of money and store of value for thousands of years. But ever since silver standard has ended, silver has lost its role as legal tender in the United States. In 2009, the main demand resulted from industrial applications (40%), jewelry, bullion coins and exchange-traded products.
Ways of investing in silver:
Numismatic Silver Coin investing: It is buying and selling coins on a value derived from its rarity, age, quantity originally produced, and condition. You need to have in-depth knowledge in assessing a coins value in order to use this methodology. This is not recommended for everyone
Silver and Bullion Coins: These are coins are minted by various governments around the world. They come in different denominations/sizes and can be purchased in 1/10, 1/4, 1/2 and 1 ounce. They contain 0.9999 Silver. The most common coins are American Buffalos, American Eagles, Canadian Maple Leafs, Chinese Pandas, and Austrian Philharmonics. The advantage of having these coins is that you physically possess them. The disadvantages are that silver coins are heavy, and safe deposit boxes are not safe anymore.
ETFs: Exchange trade funds such as SLV, SPDR Silver Trust, and Shares COMEX Silver Trust IAG are another method of investing in Silver. The funds can be bought through any broker and traded just as any stock. The Exchange trade funds use the proceeds from the capital they raise to buy physical silver and futures representing claims to physical Silver.
Purchasing and Investing in Silver through reputable dealer and also have it stored for you: In this option you can buy Silver through well know online retailers, Bullionvault and GoldMoney. These retailers store the Silver for you in bonded warehouses that are independently audited and insured. The Silver can be stored in New York, London, and or Zurich. It can be bought and sold almost instantaneously at the prevailing market prices. The transaction can be performed in Swiss Francs, Dollars, and Euros. It is the best method to invest in. The reputation of these companies speaks for itself. The Silver in is held in your name.