Don’t Forget Silver!
Posted By | March 21, 2016
OK, I know I must be channeling Goldfinger, because I can’t get enough of the stuff. But that doesn’t mean I love silver any less. What I'm saying is Don't Forget Silver - Its bright luster is very attractive, and so is its price movement:
Figure 1 CME Silver Futures
As the chart shows, 2016 has been very good for silver, and I’m looking forward to it piercing the $16/ounce price soon.
I think silver is a great way for younger folks to get started with collecting precious metals. For one thing, it’s less expensive than gold. That means you can buy one-ounce silver coins for less than 1/10th ounce gold coins. Bigger coins are more efficient purchases, so if you are on a limited budget, silver is a great way to go.
There are other reasons I love silver:
• It’s patriotic: Did you know that Paul Revere, of “The English are coming!” fame, was a renowned silversmith up there in Boston? He parlayed his silver fortune to buy large furnaces that he used to branch out into other metals, including iron and copper.
• It’s useful: Silver is always in demand, and not just by savvy collectors of precious metals. Silver is widely used in the electronics industry, in medicine and dentistry, aerospace, jewelry, solar panels and for many other uses.
• It’s withstood the test of time: Folks have been striking silver coins since 700 BC, when the Lydians (in what is now Turkey) used gold-silver alloy coins for currency. Ever since then, shrewd people have been putting their faith in silver metal rather than trusting paper money.
• It’s legal tender: its intrinsic value cannot go below its monetary value.
• It adds diversification: Any financial advisor will tell you that diversification increases safety, because you’re less vulnerable to a decline in any one asset. Folks who invest only in stocks and bonds are missing out on the chance to earn big returns on silver, which tends to move higher when other assets are plummeting.
• It stands up to inflation: Paper dollars lose value during times of inflation, but precious metals tend to go up in value when inflation hits. The same is true for devaluation, which can ruin paper currency but strengthen the value of silver.
• It’s tax deductible: Your Augusta Gold IRA is silver friendly, and you get the same tax deduction for IRA contributions whether you buy silver or gold.
If you’d like to wrap your hands on genuine silver coins for the guaranteed lowest prices, open an IRA with Augusta Precious Metals today. But hurry, this train is leaving the station!
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