There are so many options out there when it comes to investing your hard-earned money that you may be confused about the best possible choices. Stocks and bonds have been performing better lately, but the traditional market choices are still up and down, and you could end up losing quite a bit if you make the wrong decision. The smart money is on precious metals, and if you really want to make a strong investment, buying silver coins is the way to go. While gold is usually the most popular kid on the block, putting your money in silver can earn you more in the long run as long as you do it correctly.
Precious metals are a good bet for several reasons, and certain qualities make silver a more attractive choice than others. For one thing, when you buy silver coins, you are investing in a precious metal that has unique qualities. Silver is used in many different industries, and some of those uses actually result in destroying the silver completely. Whereas other metals like gold may be used again and again, the same cannot be said for silver. Therefore, when you buy silver coins, you are purchasing a finite resource. At some point in the future, resources will be so low that those silver coins you’ve got locked away in your safe will be very valuable indeed.
It’s hard to deny that silver has a certain history and prestige. Silver has been historically valued and is often referenced in the Hebrew Testament and New Testament of the bible. Silver was used as a barter commodity in the B.C. era and is called such in Genesis. In these ancient times, silver’s worth was measured by its weight. Coins were not introduced until centuries later. This precious metal was also used for creating trumpets, tabernacles and even “false idols.” In the New Testament, the gospel of Matthew refers to silver a few times, and most notoriously when Judas Iscariot betrayed Jesus for 30 pieces of silver.
Silver has been referenced in historical documents. The word “silver” appears in various documents such as “seolfor” or “siolfor.” Though the world silver has been known since ancient times, coinage didn’t appear until Greek civilization emerged. Nevertheless, as far back as the writing of Genesis (which some believe to be about 1,600 B.C.) silver trading is referenced. History supports this, as slag heaps have been found in Asia Minor and on various islands of the Aegean Sea, and they indicate that silver was separated from lead.
The archaeological record supports that metal coinage and bars were common in ancient Greece and Rome. It was so common in fact, that silver was actually used as a preventive medicine and disinfectant. Sailors used to “filter” their water and wine by keeping it in barrels with silver. In the Islamic faith, the wearing of silver is allowed based on the fact that the prophet Muhammad wore a silver signet ring.
Despite the fact that silver is commonly used for industrial and commercial purposes, many collectors buy silver just because of its prestige. Silver often symbolizes wealth and financial independence. Whether you want to collect silver because of its rich history or just want to invest in precious metals, now is the time to buy. The supply of silver in the world is limited; in fact, this element is considered precious and rare, hence why it costs more than cheaper metals like copper or aluminum.
Silver is sought out as a store of value commodity, worthy of personal investment. Whereas the U.S. dollar is unstable, precious metals are increasing in value. Silver is much less expensive than gold. Why the great price differential? Because silver is a volatile commodity in comparison to gold. Silver is affected by the general market, due to its use in industrial and commercial manufacturing. Gold is primarily an investment tool. Silver does it all!
Still, this works out to your advantage. You can invest in silver right now for as little as $50! You can take a small portion of your paycheck (say 10%) and start buying this precious metal in the form of coins or bars. You can buy silver-colored coins or silver bars from an online dealer.
Investing in silver coins isn’t something you should take lightly, however, and there are many options in front of you. For example, you will need to choose between bullion coins and rare numismatic coins. If you choose to collect numismatic coins, there is an entirely different set of decisions to be made, including what country’s currency you will focus on and what kind of coin you will choose. Bullion coins have a different set of values again. With so many options, it is easy to get turned around.
That is why it is so important to have a reliable coin dealer. You should also do a good deal of research on your own before you get started. Knowledge is power, after all, and if you don’t know what you’re dealing with you can’t ever be successful. Treat your search for a silver coin dealer as you would a search for a nanny or a lawyer. You wouldn’t trust your children or your legal case to someone you didn’t trust implicitly, or to someone without experience. The same should be true of your silver coin dealer.