Investing In Silver

How To Go About Investing In Silver

Investing in Silver is flavour of the year in some circles as this sought after precious metal is at an incredible low at this moment in time and due to its clean track record ever since the turn of the century. 

How To Go About Investing In Silver

With gains of $5 per troy all the way to past $30 in 2012, it’s definitely something to look out for.  Some purchase silver as a security against the increasingly depreciating dollar currency while others simply look to diversify their portfolios and make some good profit margins. Whatever side you take, here’s a step-by-step guide on how you can get started.

From the get go, you need to decide what your aim of investing in silver is. This will greatly shape your approach in investing in silver. You need to decide whether you’re looking for a short term play on the market, speculating on the silver prices or whether you want to hold for long term investment. If you’re looking to hedge against the currency depreciation, time is not a factor for you, what you need to do is stock up continuously. If you want to do with some tax reprieves, using a silver IRA can be an ingenious technique. Still you can steer clear of handling the metal yourself and invest through the stock market. If you can’t settle on one method, that’s okay too, you can take on two or three approaches.

Investing In Silver

Best Ways To Go About Investing In Silver

Should you decide to buy physical silver, you can buy coins or bullion. Bullion is usually much bulkier and costs larger amounts. Depending on how much money you have at hand, you will decide to go for either. Steer clear of collectible silver unless you want to do that just for leisure. Ensure you only buy from certified dealers and only buy silver with 99.9% purity. Spread your investment over time by buying different silver brands over time.

If you’re looking to speculate, you’re in luck because silver prices just dipped in 2013 so it’s the best time to buy. Gold prices are already starting to climb and silver is always right behind. Whether its coin or bullion, just make sure you buy from trusted dealers. After that, all you have to do is hoard and wait for the prices to climb. If you’re aiming for a short term play, the next 12-24 months will be favorable and past that the prices are expected to continue rising for another few years before we get another correction.

Other Considerations For Investing In Silver

If you are shying away from buying physical silver, perhaps due to security or storage concerns, turning to the stock market can be ideal. As long as the silver prices rise, your stocks will appreciate and you can cash out quite easily by selling your shares. The same applies to ETFs. With ETFs, you can start investing with very little money. If you choose to invest in mining companies, do some research into the companies before committing your money.

If you would like silver-bright years after retirement, think about getting a silver or gold IRA account. Here you can stock up on silver or gold in your retirement account so instead of having currency that will depreciate each year, your retirement kitty will keep appreciating in value instead.