Did you know that silver was the world's first currency? Not gold, not diamond, not paper, but silver.
Silver has been used throughout history as a material for making tools, utensils, jewelry, weapons, armor, and much more. Today, silver is still used extensively in jewelry, as well as to make electronics, batteries, solar panels, and dental applications.
It's not nearly as valuable as gold, since it's much more common. But it is still a very valuable resource, even if the price per pound doesn't compare to that of gold.
As an asset, you can buy and sell silver as a way of investing. While physical silver rarely changes hands, you can buy silver at any time, from anywhere.
Wondering how to get started adding this precious metal to your portfolio? Read on below to learn how to buy silver bars and silver bullion today.
Buy and Sell Physical Silver
Most people who invest in silver as a way of building wealth and hedging against inflation don't purchase physical silver. But you can.Silver is commonly found in jewelry, which is most often found at a steep discount at thrift stores and pawn shops. You can also visit jewelry shops to look for any used jewelry.
If you have a stockpile of silver jewelry at home saved up for a rainy day, a visit to a pawn shop or jewelry shop provides you a place to sell it and cash out.
Or if junk silver is more your style, you can visit a coin shop to buy or sell them. What is junk silver? It's the term used for coins that were minted before 1965 when silver was still used in our currency system.
If you're handy, you can try extracting silver from electronics. Most materials in modern electronics can be recycled, so disassembling them into raw materials allows you to retrieve the silver as well as sell the steel and copper to a recycling company.
Buy and Sell Silver as an Investment
The silver price has been rising over time. Want to get in on the action today?If you want the benefits of investing in silver without having to drive around town scouring through used items, you can invest in precious metals like silver online.
You can purchase shares of silver through a stock brokerage just as easily as you would purchase a share of Wal-Mart or Amazon. Many brokerages offer access to shares of silver. You can also buy shares of an ETF that is partially invested in shares of silver. That way, you can get exposure to multiple assets without paying multiple transaction fees.
One of the biggest benefits of buying shares is that the market for silver shares is much more liquid. You can sell your shares in a matter of seconds. Trying to sell physical silver can be much more difficult.
Add Silver to Your Portfolio
Silver has a long history as a valuable resource and asset. And its usefulness and value continue on into the present day. It's easier than ever before to buy and sell silver, allowing you to dedicate part of your portfolio to this precious metal.As silver is used more and more in manufacturing, from solar panels to electric vehicles, this resource will continue to experience high demand, which will only push the price of silver up over time.
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