The history of this precious metal goes a long way. People used it for trade and as a payment method. Silver coins were produced as early as 600 BC. Since this known fact, people all around the world used it for creating their own currencies used for payment.
It is well known that many powerful kings and emperors in history loved minting their own money. They were gold or silver coins on which the face of the person was struck. They acted as a proof who’s in charge in the region. Of course, these are very rare but they exist to witness about times that were much different than today.
Times might’ve been different but the method of investing the power and the wealth in precious metals stayed the same. Nothing’s changed for millenniums. People still transfer their saving into some of the precious metals.
What was the price over the years?
When it comes to coins dating over 300 years, there’s no way of creating a value that will be according to what we have today. Since the US declaration of independence in 1776, the US dollar started its way to relevancy.
The known facts are that the price of silver in 1840, some 60 years after the independence, was 1.29 per ounce. In the next 100 years, it was a little lower and under 1 US dollar per ounce, until the 1070s when the price significantly started to grow.
Since then major fluctuation was experienced and it once even passed the bar of $100 per ounce. However, this didn’t last long and it came back to lower levels. Since 2005 it jumped to over $10 per ounce and this tradition is held today, almost 15 years. The good thing for investors is that it’s most probably not going to go down any time soon. The reason for this is because the demands are high and metal production is the same.
Is it worth to invest in it?
It’s a matter of preference in what anyone will invest. Some don’t like the idea of buying pure precious metals and keeping them in a safe at home or in the banks. Others love the idea and are always looking at the charts and the market looking for affordable silver bars for sale.
The point in it is that investing in precious metals is not something that you need to work on additionally. Some people don’t like that, they want to know that they are trying around their investment and not wait for how the market will react to global happenings.
However, that’s exactly what others love. They love the idea of getting up in the morning and checking the price on different trading marketing in the world while drinking a tasty cup of coffee. They’re just waiting for the right moment to sell at a price that will get them profit.
The real answer to the question – is it worth it – is yes if you don’t like involving in risks and major profits. Buying gold, on the other hand, is much riskier because it’s more expensive and even though it isn’t experiencing major ups and downs it’s still riskier because of the greater value.
What does this mean? The price of the gold at the moment is around $1.400 per troy ounce. If you’re investing in gold you’ll probably spend tens of thousands of dollars. If the price changes, you can lose or win big money.
When it comes to silver, the price is lower, around $16 per ounce at the moment. If you buy some of it and the market experience some differences you’ll lose or win on a much smaller scale. That’s why buying silver is playing safe and protecting your wealth. Take a look more of it as an investment on this link.
Conclusion
With everything said above, it’s clear that investing in this metal is turning your money in something that you know won’t make you lose it. It’s the best option when you want to be sure that what you own now will stay that way for generations to come.