Latest Silver Spot Price
Silver is a traditional hedge against inflation, as silver has more industrial uses than gold . Silver of all the elements is the best conductor of heat and electricity. America has been gripped by 'silver fever' many times, such as when a young Mark Twain went for search of it in the 1860s.The use of silver in items such as electrical appliances and medical products has increased since 2001. New applications for silver are being explored in batteries, superconductors and microcircuits, which may further increase non-investment demand.With the U.S. government's planned trillion dollar bailout, inflation is a certainty. Silver is recovered from silver ores or as a by-product of mining other metals.
Investing In Physical Silver 101 - How to Invest in Silver
World currencies are growing 10-30% yearly, while the supply of gold and silver grows by about 2%. From September 2005 onwards, the price of silver has risen from around $7 per troy ounce to $14 per oz. for the first time by late April 2006. Silver fell with the Credit Crisis in October to around $9 an ounce, which was a fine opportunity to invest in silver.The Motley Fool ( Why Silver is More Precious Than Gold ) has reported that it expects silver to increase its ratio against gold from about 70 in Feb , 2009 to 20, which would place silver at about 45$. A historical side note, the name of the United Kingdom monetary unit "pound" reflects the fact that it originally represented the value of one troy pound of sterling silver. For Americans, you can invest in silver as part of your IRA at amerigold, IPM
BullionVault a simple, safe and cost-effective way of buying, storing, and then selling gold and silver.
How to Invest in Silver
Engelhard silver bar
A traditional way of investing in silver is by buying actual bullion bars. In some countries, such as Switzerland and Liechtenstein, bullion bars can be bought or sold over the counter at major banks.. Silver can be bought online and shipped to your home. Usually, the shipment is insured in transit. Make certain you have instructions for delivery to take place with your signature. you don't want a box of silver bars sitting on your doorstep !
How to Really Invest in Silver
A well written book in simplied terms that can inform the new investor or professional manager/trader. There is some great insight as to why the great underevaluation of silver relative to gold & copper exists .
Where can you buy silver bars ? They can be bought at APMEX, Monex, bulliondirect.com. Silver bars are also for sale on Ebay, be sure to check the sellers history first. Are silver bars heavy ? A 100-oz silver bar weighs about 6.86 pounds.
silver collectable coin bullion coin
Silver coins are another way to invest in silver. There are collectable coins and bullion coins. If you are a silver investor and know nothing about numismatics ( coin collecting ) , stick to bullion coins. Collecter coins takes more time to study, and their value reflects more than the price of silver at the moment. Coin stores will often try to cheat you when buying your coins. Some popular bullion coins are the : 99.99% Canadian Silver Maple Leaf, 99.90% Mexican Silver Libertad, 99.90% Chinese Silver Panda, 99.90% American Silver Eagle. You can buy silver bullion coins at: APMEX, Coinland.com, Ebay, mexicanlibertad.com, buybullions.co.uk and Pandausa .
Some people hit the jackpot when they buy collectible coins; others lose a bundle. Scott Travers is the master at picking big winners and spotting real losers. The New York Times called him the "preeminent consumer advocate in the numismatic field."
In the past, the U.S. dollar has been issued as silver certificates in the past, each one represented one silver dollar payable to the bearer on demand. These notes were issued in denominations of $10, $5, and $1 and can no longer be redeemed for silver, but are have historical value. The only government to sell silver certificates is the Australian Perth Mint.
iShares or Exchange-traded funds
iShares are units of families of exchange-traded funds (ETFs) managed by Barclays Global Investors.
'The objective of the iShares Silver Trust is for the value of the shares of the iShares Silver Trust to reflect, at any given time, the price of silver owned by the iShares Silver Trust at that time, less the iShares Silver Trust's expenses and liabilities.' U.S., AUS, Europe
As with all mining shares, there are many other factors to take into account when evaluating the share price, other than simply the commodity price. List of major silver mining companies.
Interesting article on the Hunt oil brothers and their attempt to corner the silver market in 1979.
The History of silver dollars
Why are there no more silver dollars in use ?
Coins made of silver have been used for about 2,500 years. Silver was first worked in Greece and turkey around 4,000 B.C. It had little utilitarian use at the time but acquired value based on its rarity and visual appeal and became a popular medium of exchange. Silver was somewhat rare till the discovery at a great lode at Laurium, near Athens in 600 B.C.
Over the following three centuries Greek miners mined one million troy ounces of silver a year and helped pay for the ascendancy of Greek civilization. The early Greek drachmas became the model for the future world coinage. Later great discoveries of silver in Spain and central Europe helped sustain the Roman Empire, which minted silver denarii.After the fall of the Roman Empire, minting of silver coins declined till the 14th century when most of the world's silver came from Hungary,Saxony and Bohemia. In 1530 new crown sized coins were introduced to meet the demand of increasing trade and were known as Joachimsthalers or simply thalers. Thaler became corrupted as 'dollar'.
By 1600, thanks to great silver discoveries in Mexico, colonial Spanish mines were producing nine million troy ounces per year. Spain squandered most of this wealth on wars and did not develop secondary industries. After Mexico declared independence in 1820, Mexico became the world's leader in silver production. By the mid 19th century Mexican dollars became the main currency in Qing China. In 1792, the United States began melting down Spanish pillar dollars to mint US silver dollars.Mexican and Spanish dollars were recognized as legal tender for 60 years.
Thanks to pressure from the western silver producing regions, the US began to massively increase silver minting, producing 50 million troy ounces in the late 1880s.There was a massive oversupply of silver coins, by 1893 the price of silver fell from $1.12 per troy ounce to 60 cents and many silver mines were closed.Between 1878 and 1904 the US Treasury produced 580,000,000 silver dollars. In 1904 the Treasury's silver stock was depleted. by this time there was a growing demand for silver for photography and electrical switches. In 1918 with the Pittman Act 270,000,000 silver coins were melted down.Most of this silver was sold to Britain.In 1921 the treasury resumed minting silver dollars, the 'Peace dollar' (to recognize the end of WWI) was the last hurrah for circulating US silver dollars and silver dollars type coins worldwide.With the Silver Act of 1942 the mint melted down 50,000,000 silver dollars to shore up the wartime economy of allied nations.
By the 1960s, strong industrial demand drove the price of silver so high that the silver in coins exceeded their face value and circulating silver coins quickly fell from circulation.Silver reached a all time high in 1980 of $50 per troy ounce removing many surviving silver coins as they were melted down for bullion.