We all know silver: for ages it has been the second price in (international) tournaments. The first price has always been gold because of the value of gold: this was always more valuable than silver or bronze. But this certainly does not mean you can not make money with silver and that gold is the only thing you should be considering.
If you ever considered buying or selling gold or silver or perhaps even already made an investment then you know a lot of things are the same. There are special markets to sell silver or gold, you can buy your bride-to-be an engagement ring or make some other jewelry with it. Gold is more expensive which is also the reason why an engagement ring is usually made of silver and a wedding ring is made of gold.
Check your house for hidden treasures
Because silver is less expensive a lot of people are not interested in investing in this product, they prefer gold. This is therefore a reason to make an effort and start the check your own house for some old silver. Maybe you got some jewelry you never wear anymore, or you received some silver cutlery from your deceased grandmother. Go check out your attic or basement and look for something that looks silvery and let it be appraised.
As with every other commodity: the prices of silver change every minute of the day, it is all about supply and demand and when the world is in a recession people tend to trust more on silver or gold than their own local currency. This means the price of a gram or kilogram of silver fluctuates and you can determine what is your ideal time to sell the silver you have gathered.
Buy silver online
When you scouted your house, went to antique markets and did not find any silver, you can always buy silver when you think the time is right. This makes the process of investing in your own future a lot easier: you do not have to go through the hassles of appraisal, cleaning your findings or polishing everything. Just buy your silver and sell it later for a profit. When buying a silver bar you can buy the amount you want, whether it is 20 grams, 200 or 2 kg. This also makes it easier to sell once you feel the need to: when the price is right you decide how much you want to sell, or in other words: how much profit you want.
With fluctuations in price, it is good to not make any sudden actions and don’t let your emotions be the only reason to buy or sell your silver. It is wise to have a number in mind (and write it down) for which you want to sell it or figure out for what percentage of profit you would be happy. And only sell if that percentage or value has been met.
Photo by Scottsdale Mint on Unsplash