Most people look to gold as their go-to option for investing in precious metals. But what about silver? Silver is still a viable and attractive investment opportunity that you may want to consider. Silver is a very valuable metal, but it’s not quite the same as gold. It’s got some of that “old world” charm, but it also has its own unique qualities and characteristics. But why should you invest in silver?
At a Glance Rating
Top 4 Silver IRA Companies Comparison Chart
AUGUSTA PRECIOUS METALS
5 Star Rating
$50,000 Minimum Investment
Excellent – and up to 10 years fees paid
AMERICAN HARTFORD GOLD GROUP
4.8 Star Rating
No minimum Investment
4.5 Star Rating
$50,000 Minimum Investment
Great – 10K Free Silver*
BIRCH GOLD GROUP
4.2 Star Rating
$10,000 Minimum Investment
Top 4 Silver IRA Companies Comparison Chart
Augusta Precious Metals
5 Star Rating
Excellent – and up to 10 years fees paid
American Hartford Gold
4.8 Star Rating
4.5 Star Rating
Great – 10K Free Silver*
Birch Gold Group
4.2 Star Rating
#1 Augusta Precious Metals
Augusta Precious Metals
Augusta Precious Metals is the winner of our top spot because it has the best record with customers (zero complaints with the BBB and BCA since the company opened) and they offer the most transparent, most competitive pricing in the industry (includes free transit insurance and shipping on qualified orders).
Augusta is a trusted online gold IRA dealer that has a lot of experience in the industry. For example, the company is trusted by football star Joe Montana, whose personal advisors independently identified Augusta as the best gold IRA company in the U.S. for him (he is now not only a customer but an “ambassador”). Their special tailored web conference is another reason we chose them as our top choice: it was designed by their on-staff Harvard-trained economist to help people understand the economy and gold and silver. As an online-only dealer, they are able to keep their overhead costs low and can pass the savings on to you. They pay as many as 10-years’ worth of fees for qualified customers.
Augusta offers a range of gold and silver products for your precious metal IRA. To make the account-opening process even easier, Augusta pre-selects the most common gold and silver products and offers them at very competitive prices. Augusta also maintains a partnership with the Royal Canadian Mint, which enables the company to introduce Americans to purer coins at lower prices than those available at other mints.
Augusta Precious Metals was founded with the goal of making investments in gold and silver as easy as possible for the average person. Personally assigned customer success agents assist you every step of the way with the account-opening process and answer all of your questions. And once your account is open, you can easily monitor it from the intuitive and user-friendly dashboard available through your IRA custodian.
- Most transparent, most competitive pricing in the industry
- Complete lack of complaints at the BBB (Better Business Bureau) and BCA (Business Consumer Alliance
- Thousands of 5-star reviews at the most popular consumer ratings sites
- Voted the most trusted & reputable gold IRA company in the U.S.
- Endorsed by hall of fame quarterback Joe Montana – an actual Augusta customer (found for him by his personal advisors)
- Free one-on-one educational web conference designed and led by Augusta’s on-staff Harvard-trained economist
- Wide range of popular products
- No online orders
- Mostly limited to gold and silver (they do offer platinum and palladium if asked for)
#2 American Hartford Gold
American Hartford Gold
The company offers both immediate and scheduled deliveries for all its products with no additional charges. Also, the company provides accessible storage facilities to all its clients. The main office of this company is located in Los Angeles.
The company is known for providing quality customer support and is available on phone and online chat options. Also, you can send them emails or letters if you wish to contact them using these traditional methods of communication.
The company currently sell American Gold and Silver Eagles, American Buffalo 1 oz gold coins, Canadian Maple Leaf 1 oz gold coins, Australian Kangaroo 1 oz gold coins, Britannia 1 oz gold coins, Chinese Panda 1 oz gold coins, Engelhard 1 oz silver bars, Johnson Matthey 1 oz silver bars and many other products.
- The company has a BBB rating of A+.
- It offers quality customer support services.
- You can easily track your package once it has been shipped.
- It provides accessible storage facilities for all buyers.
- It offers only a few payment methods.
Goldco is one of the largest precious metals dealers in the United States. They offer a range of choices for your IRA account. They offer services not just for gold, but also for silver.
They have been in business for over a decade, so they are a well-established company with a lot of experience.
- Convenient option to buy gold and other precious metals
- Experienced company; Professional IRA experts ready to help
- Has options for silver, platinum, and palladium
- Smooth 401k & gold ira rollovers
- Doesn’t accept credit or debit cards
#4 Birch Gold Group
Birch Gold Group
Birch Gold Group is a precious metals dealer with over 20 years of experience in aiding investors with precious metals and gold IRAs. They trade physical gold, silver, palladium, and platinum for IRA investments or personal ownership. The company’s in-house IRA department specializes in simplifying the process of opening a precious metals IRA and creating a fully self-directed precious metals retirement account.
Birch Gold has a strong focus on educating clients. They take the time to ensure that every client understands the benefits and risks of investing in precious metals while also considering each investor’s goals.
The Birch Gold Group offers you the opportunity to invest in a self-directed IRA with gold, silver, platinum, or palladium. The company makes sure that all of these investments are IRS-acceptable so they will qualify for placement inside an IRA. In addition to being able to purchase precious metals in a self-directed IRA, there is also access available to stocks and bonds, among other assets like real estate and mortgages (among others).
- Education and communication are their priorities
- Customer reviews mention a high service level
- First-year on transfers over $50,000 no fees
- Payments are limited to credit cards and bank wire transfers only.
Is Investing in Silver Good?
First, let us know what silver is? Silver is a valuable metal with many uses, including jewelry-making. Silver also has antibacterial properties, which make it useful for medical instruments and coins. Recently, some people have been investing in silver to avoid the economic downturn or to hedge against inflation.
If you’re looking at your investments as a way to protect yourself from an uncertain future, then investing in precious metals like gold and silver may be right for you.
Benefits of Investing in Silver
- It Won’t Cause A Dent In Your Wallet. There are several reasons why people prefer silver over gold. It is inexpensive, unlike gold, so it is more affordable. It won’t break the bank, and you still get to enjoy the sweet benefits when it increases in value. Also, since there is less demand for silver compared to gold, many investors buy this precious metal because of the increase in value.
- You’ll Enjoy The Excellent Buying Power Of Precious Metals. It is true that the value of paper money (U.S. dollars) can fluctuate, but it is also true that you will not have any trouble spending your silver coins or bars as long as they are untainted and unadulterated with other metals. This was especially the case during economic periods where a decline in paper currency values meant an increase in the purchasing power of precious metal coins and bars for those who held them.
- You Become Better Protected Against Inflation. If you are seeking a way to protect your assets, then investing in silver is the best option.Your money will be protected against inflation with silver. The price of silver fluctuates due to supply and demand but historically has provided protection from inflation. Inflation can take place when there is too much money or credit in an economy which causes the cost of goods and services to increase over time.Silver offers a tangible asset that allows you to hedge against inflation because it keeps its value over time, unlike paper currency which loses purchasing power as it ages.
- You Can Profit More through An Economic Collapse. Silver is often thought of as a safe haven investment during tough times. As the price of silver rises, so does your return on your investment. In an economic collapse, you can profit more with silver than any other type of asset class because it’s scarce and inflation-proof. It’s always a good thing to buy silver, but many are waiting to buy it until the prices drop more. Silver is the least expensive right now, so if you want to buy some now might be your best chance.
- You Can Easily Exchange Your Asset Because Of High Demand. Due to the high demand for silver, you can always find someone who’s willing to buy it from you. You can sell your silver bullion online very easily or through special dealer shops.Silver has been used to back currencies in the past. This isn’t done as much anymore, but many economists believe that it will be used for this purpose again in the near future.
- Silver Investment Is Unlikely To Get Confiscated By The Government. There is nothing in history where the government confiscated silver. These assets are not likely to be confiscated by the government any time soon, and they’re backed by values that have been around since antiquity. Silver is a great investment because of its low price per ounce, meaning you won’t need much capital upfront, which lets even those with less money get started!
The Risks of Investing in Silver
- Sensitive to recession. Silver is a sensitive investment to the state of the economy. When times are tough, and people are unemployed, silver prices tend to rise.
- Vulnerable to technology shifts. Silver is vulnerable to several factors, including the possibility that technology will shift away from silver-containing devices. For example, if digital photography completely takes over film photography, then a film (and those who produce it) could become worthless almost overnight. And In recent years, new technologies such as solar panels have emerged to compete with traditional sources of energy which could lead to lower demand for silver in the future.
- Limited income/appreciation potential. Silver is the best investment when it comes to tangible commodities. It’s rare, useful, and won’t lose its value in the long run. However, as something tangible, it doesn’t offer any other income like bonds & stocks.
- Unpredictable price moves. Silver is a metal that has been handled for centuries to trade and store wealth. It is a beautiful and versatile metal, but it can be difficult to predict how much the price will move. Many times, silver prices have moved up sharply in response to world events like an economic downturn or major geopolitical events.The price of silver can be unpredictable, which makes it difficult for investors to know when the right time is to buy or sell.
Silver vs. Gold as an Investment
Silver and gold, two precious metals that have been used as currency for centuries. Although they are both considered precious metals, they differ in a number of ways because their properties make them better suited to certain purposes than others.
Silver is Cheaper than Gold
Silver has always been cheaper than gold. It’s not a new thing, either. In ancient times, silver was much more common in the earth’s crust and therefore easier to mine than gold. Silver is much more affordable, so you can start out by buying more of it if you’re just starting out.
Silver is More Volatile than Gold
The value of silver is more volatile than gold and has a much lower trading volume. Silver also faces supply constraints from the mining industry, with production now slightly exceeding demand.
Silver prices are at the mercy of industrial demand for its use in photography, electronics, jewelry, medical applications, and other industries such as solar panels and batteries. This makes it difficult to predict how far prices can fall or for how long they will stay down before picking up again.
Silver is Less Liquid than Gold
Silver bullion coins are sold by weight and not face value, while gold bullion coins are sold at a set price for the coin’s purity. This means silver can be cheaper to buy in bulk, but it will cost more per ounce when you want to sell. In other words, silver is less liquid than gold because it can be harder to find buyers and sellers of the same size as needed in order to transact with each other.
What Influences Silver Prices?
The power of the dollar is one of the biggest factors in determining how much silver prices will change. Generally, the dollar has an inverse relationship with the price of silver, meaning that when the value of the dollar goes up, demand for silver typically falls and vice versa.
Many people are unaware, but silver markets continue to be influenced by government actions and policies. The governments of China and India have been stockpiling the precious metal for more than a decade, which has contributed to its scarcity.
Silver is a metal that can be used as an investment, jewelry, or for other practical and industrial demands. Silver has always been in demand due to its many uses and benefits, as well as the fact that it’s cheaper than gold. As the desire for silver continues to increase and the supply decreases, the price for silver will continue to grow.
10 Reasons to Invest in Silver
1. Demand is Always Around
The need for silver has been on the rise in recent years. What is driving this increase? Some experts believe that it’s due to a lack of faith in paper currency, which can devalue quickly and spur inflation. Silver prices depend on supply and demand, so when there is less silver available in the market because of production cuts or increased demand from investors, the price will go up.
2. No Bank Accounts
Going to the bank and opening an account can be too much of a hassle. Silver is an excellent investment because it can be bought and sold without too much of a hassle. Silver has been used for money, jewelry, and other things throughout human history, which is why it is easily traded.
3. Silver is Real Money
Most people don’t know that silver is real money. It’s not a paper currency; it’s a valuable metal with weight and worth that can be used to buy goods and services. Silver has always been used as currency for thousands of years because it was so rare and could not be easily reproduced.
4. Go to Option in an Emergency
It’s always a great plan to have emergency savings for when life throws you curveballs. As an emergency measure, silver becomes more valuable as time goes on because demand will continue to increase while supply dwindles.
5. Sorting the Storage Problem
How to store silver is one of the biggest problems. There are lots of ways nowadays to own silver without actually having it physically. There are mutual funds, EFTs, ETNs, and other ways to own silver that we will discuss later in this article.
6. Physical Silver is a Hard Asset
It’s not a hidden fact that the world is becoming more digital. As technology advances, there are a lot of new ways for hackers to steal your data and cause you financial harm. In contrast, physical assets like silver can’t be hacked or stolen by cybercriminals.
7. Cheaper than Gold
Many of us are familiar with gold, which is a metal that has been used for centuries to store and invest wealth. Silver has many similar properties to gold, but it also has some unique advantages. For instance, silver is more affordable than gold and can be purchased in smaller quantities – making it the perfect option for investors who want to diversify their holdings within a limited budget.
8. Silver is More Practical For Everyday Small Trading
Since silver is cheaper than gold, it is easier to sell silver when you really need to sell it.
9. Silver Outperforms Gold in Bull Markets
Silver is the best investment for those who are looking to diversify their portfolio and protect themselves from future inflation. In bull markets, silver will soar much further and faster than gold.
The price of an ounce of silver today will be worth more tomorrow as its value increases with inflation but maintaining a steady course in relation to other assets.
10. World Demand is Growing
The silver market is currently experiencing an increase in global demand, which could lead to shortages of this valuable resource. Silver is used for making jewelry and coins. It’s also an important part of many electronics such as smartphones, tablets, watches, TV, and computers. Silver can be used to disinfect water supplies with low levels of chlorine or salt due to its antimicrobial properties. And it’s also used in solar panels because it helps trap light particles known as photons. It then converts these photons into electrons which are collected by a circuit board on the backside of the panel (source).
5 Reasons Why Investing In Silver Could Benefit Your Retirement Savings
- Silver has limited supply. The world’s silver supply is limited, and it’s important to know how much of this precious metal you have. Silver has a number of uses in modern society, from jewelry production to electronics manufacturing. Silver is also used as an investment because its value doesn’t fluctuate the same way that stocks and bonds do. As the supply of silver decreases, its monetary value increases.
- Silver can function as legal tender or money. Silver is an element that has been around since the beginning of time. It has a long history in many cultures and was used as currency for centuries until it was replaced by gold. Even though silver is no longer legal tender in most countries, it can still function as money if you know how to buy and sell it!
- Silver is an excellent storage of economic value. Silver has been an excellent store of value over centuries – with periods of high inflation when gold prices were skyrocketing; silver held its own as a great investment alternative and hedge against inflation. Another thing about silver: it’s much cheaper than gold on an ounce-for-ounce basis, so you can buy more ounces of silver for less money.
- The prices of precious metals tend to increase during economic crises. It has been observed that during periods of high unemployment, inflation, or a financial crisis, the price of precious metals tends to rise. This is understandable because when people are feeling uncertain about their economic situation, they will want to invest more money in something that has value and won’t lose its worth over time as other investments such as stocks or bonds do.
- Silver investing includes various other options. Buying silver is an excellent way to invest in the future, but it isn’t limited to actual silver bullions or silver bars. It is also possible to invest in the stock market by buying stocks of silver mining companies. Some examples are silver mutual funds, exchange-traded notes (ETN), and exchange-traded funds (ETF)
How to Invest in Silver
Buy Silver Mutual Funds, ETFs and ETNs
If you’re having difficulties figuring out how and where to store your silver bullion, there are ways to own silver without having it physically.
Investing in silver mutual funds does not mean owning silver itself but rather investing in a portfolio of stocks of mining companies.
An exchange-traded note, or ETN, is an unsecured debt security backed by an issuer such as a bank and doesn’t purchase ownership of silver. These are notes traded on an exchange, just like stocks.
An exchange-traded fund (ETF) is a way to get involved in the market without having to worry about the storage of physical metals. It is a way to hold silver bullion itself, except you do it through a fund where you own shares of the ETF that owns the silver.
Buy Silver Bullion
Silver bullion is a great way to invest in one of the world’s most precious metals. You can buy silver bullions in coins, bars, or rounds that are made by private mints and refineries around the world. You can purchase silver bullion locally or online, and you just need to make sure you are buying from legit sellers.
Buy Silver Mining Stocks
In buying Silver Stock, you invest in a company with direct involvement in the use, production, and distribution of silver. Mining companies or jewelers which have direct involvement with silver are a great place to invest. You can buy silver stock from a broker just like with any other stock.
Buy Silver Streaming Companies
Silver streaming companies are not actually involved in silver mining directly, but rather they provide financing to the companies that do mine. It is like buying royalties in silver mining companies. They buy silver from mining companies at a certain price and then sell them on the market for more than they paid.
Final Thoughts – Investing in Silver
Silver can be a great investment if you understand the market. It is a lot easier to invest in silver nowadays compared to way before and a lot more practical than gold.
Should you invest in silver? There are many things to take into consideration when making a decision. Plan ahead, do your research, and don’t make haste. Make sure you know enough about the silver market before jumping right in.
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