Gold and silver have always been considered the ideal investment options. However, it is natural that an investor will wonder if it is worth the money. Silver does not carry the same gravity as gold which is why most people remain doubtful about the investment.
Nevertheless, there are many reasons why you need to add silver to your portfolio. Silver coins are the best bet for first-time investors. They are convenient to store and sell. Apart from this, the three primary reasons why you should buy silver bars or coins are discussed below:
- It is real money
Silver might not be a part of the currency market, but it is real money. Physical silver has as much value as gold. When you sell silver, you are going to make money on it. There is no risk associated with the investment and it has been used as money for years together.
- It is cheaper than gold
Gold and silver are two commodities which appeal to most investors. However, buying silver coins is much cheaper than gold. It is affordable for an average investor and will help you build your portfolio. If you consider holding precious metals in your portfolio, you should begin with silver. It is also ideal for gifting purposes. So, if you do not want to spend too much, but want your gift to look appealing, pick silver coins.
- It is a practical investment
As compared to gold, silver is not only less expensive to buy, but it is also ideal for everyday small purchases. It is a practical investment for those who have a long-term goal in mind. You may use silver coins to make purchases in the future. Since it is available in small denominations, you may sell it as and when the need arises. Silver is sold everywhere and it is easy to purchase and store as well.
Whether you are a first-time investor or a seasoned investor, silver coins are always good investment options. They are easily available in the market and are convenient from a resale point of view. Addition of silver in your portfolio will increase its value and diversify the same. Therefore, start with small denominations and increase the allocation over a period of time. Remember to study the market well and consider the several alternative investment options available for you.