Opportunities to sell scrap gold have been popping up all over the place recently, and it seems like this has made people forget that selling silver is also a great way to make money.
Silver Outperforming Gold?
Since 2001, the value of gold has been appreciating quickly, more than quintupling in price, but what many people don’t realize is that the value of silver has actually recently outperformed the value of gold. In fact, from January 2010 to June 2011, the value of gold increased 34% while the value of silver increased more than 100%.
One of the great things about precious metals is that their value continues to climb. In the last 50 years, the value of silver has barely fallen more than a few points on three occasions. This means that silver will continue to hold its value as the value of the US dollar falls.
Thoughts of Investing?
What is interesting about silver is that its value does not depend on the economy the way gold does. That is, while gold prices go up during tough economic times, the value of gold is more dependent on industrial usage. Today, market demand for silver is growing while supplies are disappearing. It is likely that new high-tech uses for silver will exacerbate this problem and the value of silver will rise even higher.
You are probably familiar with the “buy low, sell high” idiom, and because you already own your silver, buying low is not going to be a problem. If you are looking to sell your silver, the markets are high right now and you can probably make some good money. However, because the value of silver is expected to continue to rise in the coming years, it is also probably a great time to invest in silver. Of course, no one can say for sure what the market will look like over the next few years, but silver’s prospects are certainly looking good.