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December 27, 2018

Silver Is Not Just For Jewelry


We know silver as one of the beautiful reflective metals from which so many amazing pieces of jewelry are made. Tableware, as in eating utensils, candlesticks, and serving trays passed down from generation to generation are often made of sterling silver, if you are fortunate. Silver, however, is used in many things, such as electronics and photography, as well as used in other unusual items. Some may not think of it, but silver is a great investment. The price of silver rises and falls over time, but most definitely silver holds a decent value.

Uses for Silver

Silver is versatile and useful. We use it in medicine and in automobiles. Solar panels and mirrors make use of silver. We even eat fancy cupcakes, cookies, and chocolates on plates with silver decorations. There are many decorative home pieces made of silver, but as silver is quite expensive when used in large quantities, we only see silver in smaller quantities. The price of silver has gone up these days, so silver is used when necessary. Mostly silver will be used where a profit is to be made.

Why Silver Jewelry?

Silver's greatest quality is that it lasts for a very long time. We know it lasts because we have a coin dated back to around 200 B.C. Although silver tarnishes and can look dull, with just a little silver polish, silver will shine right up. Silver is soft and is mixed with something like copper for more stability. We make a lot of jewelry with silver as it is good to work with and it shines so bright. Jewelry makers have used silver for centuries. Although not as expensive and valuable as gold, there are many people who prefer silver jewelry over gold.

Silver Bars Anyone?

Silver is a great investment, not only as jewelry, but you can invest in silver bars. You can buy silver bars from private individuals who may need to sell when in need of money, or you can buy from a reputable seller. Silver is selling for about $14.40 an ounce. The great thing about silver is that it holds its value.

Make Silver Part of Your Portfolio

Silver is great to have in your financial portfolio of investments. Real silver is something concrete you can put in a safety deposit box. You know you will always have it because it is a tangible investment. Often when the value of stocks go down, the value of silver goes up. If you have bought silver when the price was low, owning silver bars can yield some decent profit. It is important to make sure you are buying real silver. There are many materials that look like silver and are not. This is because of the mixing with another metal for stability. Buy all your silver from a reputable source. Most real silver is marked 925.

Is It Silver?

There are metals to invest in like titanium and platinum, but gold and silver is easy to find. There are also test kits you can use to test to make sure that the silver you are buying is real silver. Sometimes you can get lucky at a flea market and find some nice silver objects for a low price. Although the flea market is not the best place to buy silver, you can always take a test kit with you. Always do extensive research before you invest any significant amount into silver. The price of silver rises slowly. Silver is considered a safe conservative investment. You may not want to invest a whole bunch in silver, but it is definitely worth it to have silver along with all your other investments.

Good quality silver can be found in many places, you just have to know where to look. Silver is an investment you can wear with you or keep safe in a jewelry box or safety deposit box. Not all investments look as pretty and shiny as silver. It is an investment that you can't lose, unlike the stock market, unless you misplace the silver yourself. For help with long-term security and wealth, it is well worth looking into adding silver to your investments.

The views and opinions expressed herein are the author's own, and do not necessarily reflect those of EconMatters.

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Item Reviewed: Silver Is Not Just For Jewelry Rating: 5 Reviewed By: EconMatters