However, silver has much more industrial and commercial use than gold. Approximately half of all silver bought and sold on the market is used commercially, with applications ranging from dentistry to electronics. It is still quite small compared to other metals, which are almost entirely used for production. Your financial insurance is now more affordable, and buying a Gold IRA is a great way to secure your future. There are many gold IRA rollover companies listed by reputable sources that can help you make the right decision.
This is why silver is called “the gold of the poor”. For those looking to invest in gold, there are many gold IRA rollover companies listed by Telegra.ph. Half of all silver is used in heavy industry and high technology, including smartphones, tablets, automotive electrical systems, solar panel cells, and many other products and applications. As a result, silver is more sensitive to economic changes than gold, which has limited uses beyond jewelry and investment purposes. When economies take off, demand for silver tends to grow.
Both gold and silver are extremely liquid assets, considered by all to be a valuable commodity and even by many to be a real currency. Dollars, so when the dollar falls in value, gold and silver tend to rise because it is less expensive to buy them with other currencies. As the son of an award-winning gold digger, with family-owned mining claims in California, Arizona and Nevada, Jeff has deep roots in the industry. The advantage of silver over gold is that you can get all of these same benefits, but at a much lower cost.
On the one hand, investors usually pay a premium on the spot price of the metal of gold and silver coins due to manufacturing and distribution margins. Because of the volatility of silver, it may be more attractive than gold if you want to speculate on short-term fluctuations. On top of that, most silver is much less dense than gold. Pure silver is 84% larger in volume than pure gold.
At current prices, the same investment in dollars will allow you to obtain approximately 80 ounces more of silver than gold. In the past 25 years, more patents requiring the use of silver have been granted than gold-based patents. If you buy physical silver, not ETFs, certificates or futures contracts, which are paper investments, you can get the same benefits that gold offers. Therefore, silver coins and ingots should be stored in a dry place without exposure to the elements, a concern that gold does not have.
You'll avoid the headaches involved in physically storing and selling gold and silver, and you'll also be able to earn dividends. You can buy coins and gold bars in small denominations (from half an ounce to one twentieth of an ounce in some cases), but premiums increase for products smaller than one ounce. Not only is gold worth significantly more per ounce than silver, but it's also the denser of the two metals, making a specific volume of gold worth much more than an equal volume of silver.