Gold and silver are universally accepted currencies. Much like gold, silver is a liquid asset, because buying and selling the metal is never a problem. You can buy silver in form of coins, bullion bars or as jewelry, depending on your interests, but you can be assured of one thing – getting cash against silver when you need the most. Below are some reasons to buy the metal and tips for purchasing that may come handy.
Why should you buy silver?
Firstly, silver is a tangible asset. It can be stocked easily, and even smaller investors can choose to put their money in it, because gold is way more expensive. This is a hard asset, which sells easily despite being cheaper than platinum and gold. What’s even better is the fact that you don’t need to pay GST or sales tax on silver bullion in countries like Australia, and many dealers will offer shipping for purchasers abroad. If you are interested in ETFs, you should know that the prices are dependent on many factors, including exchange aspects. With physical silver, you don’t have to worry about all of that. Silver is not only meant for personal stock, but is extensively used in many industries, and therefore, the demand for the metal always remains intact and only increases with time. To be fair, you have lesser chances of losing money when the prices fall.
Tips on buying
It is always easy and fast for you to buy silver bullion from known dealers. Do your homework and find a reliable dealer you can count on. Check if the dealer has a physical address, and if possible, pay a personal visit, so that you can ask the relevant questions. Silver bullion purchased from known dealers are easy to sell, and if you need to find more options, go for Swiss silver bullion, Silver American Eagles, or Silver Canadian Maple Leafs. There are also online guides that can come handy when you are comparing choices. Stocking silver can be a problem, which is why you need to keep it in circulation.
Also, if your budget permits, add gold bullion to your list too. With mixed profile, you can keep the stocks in check and reduce the concerns that’s usually related to one kind of metal. Gold, platinum and silver are the best choices in this regard, and you can go for palladium too, which usually involves a small sales tax or GST.