Owning physical silver, which is the pure collectible form of the industrial commodity, is a form of diversification and hedging. It should not generally be considered an investment, though fearless traders have made (and lost) significant sums of money in short periods of time. It is better suited for those with an eye towards long-term savings.
A recent post on Bible Money Matters
talked about the story of the Richest Man in Babylon. The man in the story sought out the advice of rich people, and was told:“I found the road to wealth when I decided that a part of all I earned was mine to keep. And so will you.”
One of the best ways I’ve found to do this is buy regularly purchasing silver coins and bars. In uncertain economic times, holding physical gold and silver can be a hedge against inflation and currency devaluation. It is a way to consistently pay yourself and save a portion of your paycheck in a valuable form.
Reasons to own physical silver:
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