When is the best time to invest in silver?
Buying silver at the right time can make all the difference in the world. This is especially true if you are accumulating silver for future wealth. In times of economic turmoil, people tend to turn towards precious metals such as silver and gold. Gold is an excellent asset to hold, but silver has some distinct advantages - specifically, it is cheaper per ounce and easier to buy and sell quickly.
What sort of silver should you buy?
The answer is - probably a variety of silver. A selection of silver coins, small bars or ‘biscuits’ or 10 and 100 ounce bars would be best. Then you would be in a position to sell the quantity you might need to sell to raise a specific amount of cash. Gold is more expensive and selling an ounce of gold may net you more than you would want to convert into cash, whereas you can sell one or several ounces of silver to cover a specific need. The best time to buy silver for the long term is always now.
Whatever the price, the cost of silver will average out in the long term. The more you can buy at one time will reduce the dealer and shipping costs and bring you closer to spot price - spot price is what the current going rate for silver is on the daily markets. You can see the spot price by checking the charts at gmrgold.com. Always ensure you buy silver from an authorized mint or dealer, and if you are buying silver coins, get a certificate of authenticity if you can.
Remember, “Take care of your money and your money will take care of you.”