Why I'm a silver bug......
Why I'm a silver bug?
Let's wind the clock back to 2014. When I returned to Hong Kong from Aussie after finished my working holiday. I found a job which the salary was great and I had more money to save. But I'm not a good stock investor and putting money in bank seems is not a good idea. So I'm seeking for the varieties of investment tools. Then I found silver.........
Surprisingly there are not much people invest in silver. Their comments are:
- Silver is cheaper than gold 2) hard to buy / sell it 3) silver will be oxidized easily 4) when the thief break into your house......
To tackle 1) problem, why silver is cheaper than gold?
This statistic depicts Rio Tinto's gold and silver production from 2010 to 2016. As you can see the production of silver is way a lot more than gold.
But think of the big picture, people are much more willing to recycle gold than silver because gold is more expensive than gold. However, from the table above you can see there are huge demand of industrial use of silver. And the interesting thing is you never heard of people recycle silver because the amount and the price cannot cover the cost.
2) Hard to buy or sell it
I thought the same as they do too. But I have no concept how much is an oz of silver, it would be something close to gold price (which is always at US$ 1,200 - US$ 1,800 that range) and the fact is not. It is ~US$ 21 at that time. And I bought around US$200 of silver every month. Few months later, I realise the company I purchased from was too expensive, they marked up a lot so that's why the shipping cost was very low (around US$ 20).
Come on, it is 2018 now, I don't think it is hard to sell it. There are lots of sales channels, ebay, amazon, facebook group, instagram or maybe forum (http://www.silverstackers.com) thanks @buggedout for introducing me this forum!
3) For the storage
The first golden rule is do not let the silver coin expose to the oxygen. I used to put my coins in the capsule with plastic bag on it. Then put it into the big plastic box with a dehumidifier. Always make sure the box is closed securely.
You should keep the silver coin like this to avoid oxidation:
4) Security
If you think your home is not safe then you should invest a safe, an alarm, put more locks on the door or......go to the bank and put your coins in the safe deposit box.
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