Why Buy Silver
As a precious metal, silver holds intrinsic value and is often sought after as an investment, a means to store wealth, and as a potential safeguard against inflation or economic uncertainty. Its lower price, compared to gold, makes it more affordable and accessible to a wider range of investors. Silver is typically a better option for individuals looking to incrementally build their precious metal wealth over time. With its lower cost per ounce, you can add silver to your collection as your budget permits and seize opportunities from price fluctuations, a practice known as dollar-cost averaging. This slow, steady accumulation strategy is more challenging with gold due to its higher price point. A similar approach with gold would require purchasing one-gram gold bars, approximately equivalent to buying three ounces of silver. The premiums on smaller gold bars and coins are quite high relative to their actual gold value, making them a less efficient use of your money. Silver, due to its affordability and the opportunity to buy in smaller, more manageable increments, is an excellent choice for those looking to gradually and effectively build a collection of precious metals.
In addition to its role as a store of wealth, silver is renowned for its diverse uses. While some applications, like photography, have declined over time, silver is still widely used in industries such as: solar panels, water filtration, electronics, jewellery, silverware, and medicine, where it is valued for its antimicrobial properties. Current and future uses of silver contribute to driving its price as an investment. When demand outstrips supply, prices inevitably rise.