Buying silver is more preferable to other metals such as gold and platinum due to its relative cheapness, which allows you to buy more of the metal.
Moreover, while inflation will depreciate the value of paper currencies, it will escalate the value of hard currencies such as silver. The present economic crisis presents a story of the devaluation of currencies that holds for the U.S. dollar. The value of the dollar today, in terms of purchasing power, may not be the same soon.
First-time investors are always baffled by questions like when they should buy, how much they should hold silver for, etc. Think it this way. Since 1913, Americans have lost 95% of their purchasing power, with the vast bulk of the loss happening in the last 40 years. Decide what you would like to hold in the future? An ounce of silver or dollars that would purchase an ounce of silver in the present moment. If the above answer is an ounce of silver for an extended time horizon, the first thing to do is buy silver. Such analysis will help you think more clearly since the everyday volatility of silver could reflect in your decisions.
On the other hand, there is gold, an all-time investor favourite. But silver enjoys a favourable price to supply ratio compared to gold. Also, silver is a necessary commodity approved for various electronic goods, medical applications and solar power production. As long as the industrial demand for silver high, silver prices will always be bullish in the long term.
Buying silver is more portable than other metals such as gold and platinum due to its relative cheapness, which allows you to buy more of the metal.
Moreover, while inflation will depreciate the value of paper currencies, it will escalate the value of hard currencies such as silver. The present economic crisis presents a story of devaluation of currencies, which holds for the U.S. dollar. The value of a dollar today in terms of purchasing power may not be the same soon.
First-time investors are always baffled by questions like when they should buy, how much they should hold silver for, etc. Think it this way. Since 1913, Americans have lost 95% of their purchasing power, with the vast bulk of the loss happening in the last 40 years. Decide what you would like to hold in the future? An ounce of silver or dollars that would purchase an ounce of silver in the present moment. If the above answer is an ounce of silver for an extended time horizon, the first thing to do is buy silver. Such analysis will help you think more clearly, keeping in mind the everyday volatility of silver.
On other other hand, there is gold, an all-time investor favourite. But silver enjoys a favourable price to supply ratio compared to gold. Also, silver is an everyday needed commodity approved for various electronic goods, medical applications and solar power production. As long as the industrial demand for silver is high, the silver price will always be bullish in the long term.