Have you ever worried about you or your family's economic future? I have. After the last economic down turn I really started to think about how I would provide for my family if the dollar crashes.
I did a Google search and found that buying precious metals is a solid way to protect your wealth. I admit I am not an investment guru and any investment is risky but it made sense to me.
Here's a graph showing how the price of silver per once has grown in the last ten years:
Did you notice how Silver had peaked at $48.48 back in March 2011? The peak in price was fueled by the uncertainty of the dollar and unstable global markets that rest on the dollar as a reserve currency. Imagine if another economic disaster happened, what would the price per ounce of silver be at? I know one thing, it will be a lot more than the price of silver is right now.
Brief History of Silver:
Silver has been an invaluable precious metal since it’s first major mining source was discovered around 4000 BC (over 6,000 years ago) in Anatolian (Modern Turkey), making it one of the earliest metals discovered by ancient man (some other ancient metals were Copper, Iron, Tin, Lead, and Gold). Silver’s use as money in coin form however, began around 2600 years ago.
Silver has remained in high demand by individuals and nations up to this day, mainly due to it’s natural rarity, visual appeal, and the multitude of uses in various applications. If we are to look to a stable, proven, and precious item to help us through difficult financial times, silver is certainly it.
Why I bought silver and not gold:
While gold is a great investment, it is cost prohibitive for most to invest in, silver on the other hand can be purchased cheaper and in bigger amounts for much less.
My preferred way of buying silver is in bullion or "rounds" form. Weights vary but the most common is one ounce. The Picture below is from Loco Pecunia, Inc. a veteran owned corporation based out of New York.
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| "Republic Trade Unit" 1 ounce fine .999 silver. |
How I purchased my first silver rounds:
I recently picked up a few silver rounds from Loco Pecunia, the service was great and their product design is pretty cool(my favorite is their Lady Liberty round). They answered all my questions quickly and I highly recommend them as a great way to start off buying silver.
Here's what the folks at Loco Pecunia have to say about paper currency vs. hard assets:
"Paper money and other fiat currencies have no intrinsic value. United States Notes, Silver Certificates, Gold Certificates: the face value of which is lower than their NUMISMATIC value- The Federal Reserve Prints the paper for 4 cents each then charges the U.S. Treasury for the notes with interest! A NOTE- Promise to pay - not backed by anything and with no intrinsic value."
Is buying silver right for you?
No one knows for sure what the future will hold, but one thing is for certain precious metals will always have an appeal that translates to real financial security and waiting to "see" will only cost you more fiat currency to buy in later. Like the old saying goes "Buy low, sell high."
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