Today there's a lot of interest in precious metals as a hedge against economic uncertainty. The answer to the question: 'How much is silver worth?' can help you decide if investing in coins or bars of this precious metal is right for you and those you must provide for.
Gold and other valuable metals rise and fall in value according to various economic and social conditions that exist worldwide. It's important to understand these forces and their effects, just as you would want to understand how the stock market operates and why stock prices move up and down. Metals are traded - bought and sold - on the commodities market; they are tangible assets rather than shares of ownership in corporate entities.
Precious metals are marketed in the form of bars, called ingots, or in the form of coins. There are also jewelry and other items, like sterling silverware table settings. Ingots are valued according to weight, while coins and other items have intrinsic value - the weight of pure metal in them - and may also have added value because of their history, their rarity, or their condition.
An ounce of silver is not like an ounce of sugar or flour. Troy ounces are used for this measurement; this is an ancient measuring system developed in medieval France and still used today. There are twelve troy ounces to a troy pound, and bars are made in 100 to 5,000 troy ounces. A troy ounce is a little heavier than the ounce used to weigh foods.
The value of commodities is very volatile. However, prices have been high in recent years, as the dollar weakens on the world market. In addition, silver is used in industry as well as in coinage, jewelry, tableware, and decorative items. This means that there is a steady demand for the metal, which is one thing that pushes prices higher.
There is another factor in evaluating the worth of this valuable metal. There is a school of thought that gold might be confiscated by the government (this has happened before.) Ingots of precious metal may also be hard to use as currency in an emergency. For this reason, coins are considered by some the best investment. Merchants will be glad to accept them, especially if paper money is devalued.
'Junk-silver' is what coin dealers call American coins with merely intrinsic value. Their worth is calculated according to the weight of precious metal in them. Dollars, half-dollars, quarters, and dimes dated before 1965 are 90% pure. On troy weight value, a dollar would be worth over $10 on today's market. Some survivalists recommend having $1,500 worth of 'junk' for each member of the family, to be used in case of an emergency to buy necessities.
Therefore, the true value depends on the reason you are collecting the metal. An investment for trading is one thing, an emergency hoard another, a carefully-selected coin collection still another.
Gold and other valuable metals rise and fall in value according to various economic and social conditions that exist worldwide. It's important to understand these forces and their effects, just as you would want to understand how the stock market operates and why stock prices move up and down. Metals are traded - bought and sold - on the commodities market; they are tangible assets rather than shares of ownership in corporate entities.
Precious metals are marketed in the form of bars, called ingots, or in the form of coins. There are also jewelry and other items, like sterling silverware table settings. Ingots are valued according to weight, while coins and other items have intrinsic value - the weight of pure metal in them - and may also have added value because of their history, their rarity, or their condition.
An ounce of silver is not like an ounce of sugar or flour. Troy ounces are used for this measurement; this is an ancient measuring system developed in medieval France and still used today. There are twelve troy ounces to a troy pound, and bars are made in 100 to 5,000 troy ounces. A troy ounce is a little heavier than the ounce used to weigh foods.
The value of commodities is very volatile. However, prices have been high in recent years, as the dollar weakens on the world market. In addition, silver is used in industry as well as in coinage, jewelry, tableware, and decorative items. This means that there is a steady demand for the metal, which is one thing that pushes prices higher.
There is another factor in evaluating the worth of this valuable metal. There is a school of thought that gold might be confiscated by the government (this has happened before.) Ingots of precious metal may also be hard to use as currency in an emergency. For this reason, coins are considered by some the best investment. Merchants will be glad to accept them, especially if paper money is devalued.
'Junk-silver' is what coin dealers call American coins with merely intrinsic value. Their worth is calculated according to the weight of precious metal in them. Dollars, half-dollars, quarters, and dimes dated before 1965 are 90% pure. On troy weight value, a dollar would be worth over $10 on today's market. Some survivalists recommend having $1,500 worth of 'junk' for each member of the family, to be used in case of an emergency to buy necessities.
Therefore, the true value depends on the reason you are collecting the metal. An investment for trading is one thing, an emergency hoard another, a carefully-selected coin collection still another.
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