Today there's a lot of interest in precious metals as a hedge against economic uncertainty. The answer to the question: 'How much is silver worth?' can help you decide if investing in coins or bars of this precious metal is right for you and those you must provide for.
It is essential that you understand how precious metals are valued and traded if you're thinking of them as an investment or as a hedge against economic collapse. Metals are tangible assets, which makes them a commodity. It also makes them a lot different than paper money, which is only as good as the government that stands behind it. In other words, paper money has the value that people set and accept. Commodities, on the other hand, have intrinsic value of their own.
Bars, or ingots, are one way of buying metals. Investors also trade in coins. Coins vary in value according to the weight of precious metal they contain. They also may have added value if they're rare, in very good condition, or have some historic background. For instance, a Roman coin or a Spanish doubloon recovered from an important shipwreck will be worth more than the intrinsic value by weight.
The 'troy ounce' has been used to weigh silver for centuries. This system, developed in France during the Middle Ages, sets twelve troy ounces to a troy pound; these ounces are slightly heavier than the ones used to weigh sugar or flour. Ingots range from 100 troy ounces to 5,000.
The value of commodities is very volatile. However, prices have been high in recent years, as the dollar weakens on the world market. In addition, silver is used in industry as well as in coinage, jewelry, tableware, and decorative items. This means that there is a steady demand for the metal, which is one thing that pushes prices higher.
There is another factor in evaluating the worth of this valuable metal. There is a school of thought that gold might be confiscated by the government (this has happened before.) Ingots of precious metal may also be hard to use as currency in an emergency. For this reason, coins are considered by some the best investment. Merchants will be glad to accept them, especially if paper money is devalued.
Junk-silver is the term for coins that have only intrinsic value by weight, with no extra worth because they are collectible, made of extremely pure metal, or rare. American dollars, half-dollars, quarters, and dimes made before 1965 are 90% pure. Based on troy weight alone, a dollar of this type is worth more than $10 today. Some survival experts advocate having a supply - about $1,500 - of junk-silver for every member of the family.
The value of this precious metal to you depends on what you want it for. As an investment, it's worth is what a troy ounce sells for at any given moment. As a hedge against inflation or the collapse of paper money, having it may mean the difference between life and death, or at least having the means to get what you need in times of chaos.
It is essential that you understand how precious metals are valued and traded if you're thinking of them as an investment or as a hedge against economic collapse. Metals are tangible assets, which makes them a commodity. It also makes them a lot different than paper money, which is only as good as the government that stands behind it. In other words, paper money has the value that people set and accept. Commodities, on the other hand, have intrinsic value of their own.
Bars, or ingots, are one way of buying metals. Investors also trade in coins. Coins vary in value according to the weight of precious metal they contain. They also may have added value if they're rare, in very good condition, or have some historic background. For instance, a Roman coin or a Spanish doubloon recovered from an important shipwreck will be worth more than the intrinsic value by weight.
The 'troy ounce' has been used to weigh silver for centuries. This system, developed in France during the Middle Ages, sets twelve troy ounces to a troy pound; these ounces are slightly heavier than the ones used to weigh sugar or flour. Ingots range from 100 troy ounces to 5,000.
The value of commodities is very volatile. However, prices have been high in recent years, as the dollar weakens on the world market. In addition, silver is used in industry as well as in coinage, jewelry, tableware, and decorative items. This means that there is a steady demand for the metal, which is one thing that pushes prices higher.
There is another factor in evaluating the worth of this valuable metal. There is a school of thought that gold might be confiscated by the government (this has happened before.) Ingots of precious metal may also be hard to use as currency in an emergency. For this reason, coins are considered by some the best investment. Merchants will be glad to accept them, especially if paper money is devalued.
Junk-silver is the term for coins that have only intrinsic value by weight, with no extra worth because they are collectible, made of extremely pure metal, or rare. American dollars, half-dollars, quarters, and dimes made before 1965 are 90% pure. Based on troy weight alone, a dollar of this type is worth more than $10 today. Some survival experts advocate having a supply - about $1,500 - of junk-silver for every member of the family.
The value of this precious metal to you depends on what you want it for. As an investment, it's worth is what a troy ounce sells for at any given moment. As a hedge against inflation or the collapse of paper money, having it may mean the difference between life and death, or at least having the means to get what you need in times of chaos.
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