Throughout the course of human history, people have mined about 30.86 billion lbs worth of silver. This precious metal is among the rarest in the world, and its beauty puts it in high demand. This makes it a naturally excellent investment.
Read on to learn some of the top benefits of investing in silver in 2023.
1. Diversify Your Portfolio
Investing in silver is an ideal way to diversify your portfolio. Having many different investments helps you mitigate risk as an investor. If one of your stock market investments doesn’t pan out or your crypto depreciates in value, you’ll need an evergreen asset to ensure that you don’t lose all of your money.
Silver is a tangible asset that you can see and touch. Its value comes from its beauty and rarity, which are intrinsic properties that buyers can see and feel. It also has utility in several markets, making it a practical investment.
2. Growing Investment Demand
Because of its diversification potential, financial experts are currently pushing silver as a hedge investment. It’s always going to be profitable regardless of geopolitical conflict or economic changes. It’s been a safe investment for centuries and demand is increasing.
As demand increases, your silver will appreciate over time. When it grows in value, you’ll be able to sell your silver for more than you paid for it. This means that you’ll turn a steady and predictable profit over time.
3. Growing Demand in Many Industries
The demand for silver has a pragmatic explanation: it’s useful in a wide range of industries. It’s obviously used to make metal items like coins, jewelry, dinnerware, and some household items.
Recently, it’s also become sought after in the medical and industrial markets. It’s durable and corrosion-resistant and conducts electricity well. This makes it ideal for manufacturing consumer tech gadgets, medical devices, and industrial machinery.
4. It’s Sought After Worldwide.
Silver is also an investment that crosses country borders because these industries also exist abroad.
Manufacturing-heavy countries like China and India especially need silver, so it’s you in with their huge economies. You’ll have a much wider audience of people to sell to in the future.
5. Affordable Investment Options
While gold is also an excellent investment, it’s much more expensive than silver. Gold costs hundreds of dollars per ounce. Silver only costs about $19 for every ounce you buy.
While gold is another safe investment that will have an extremely high sell rate, silver has an incredible ROI. It’s currently worth 17.4% more than it was 6 months ago, so the increase in value is a tangible and visible thing.
Plus, since you won’t need to shell out as much cash up-front, buying silver is an inexpensive and low-risk way to diversify.
Start Investing in Silver Today
Now that you know some benefits of investing in silver, it’s time to get started. America’s top gold and silver specialists at OnlyGold are committed to getting you the best bang for your buck when you buy precious metals. We sell at some of the lowest prices an established dealer can offer, so contact us to begin the purchasing process ASAP.