https://img.inleo.io/DQmPW9mhXDKHoeWa1pgiH8RPR5JMpGEzqJaH7cawipdSznp/Screenshot%20(1187).png
I've been interested in collecting silver coins since I was a child. I was fortunate to have a father who understood the importance of owning precious metals. This has been an interesting week for anyone who enjoys investing in silver in any form. In the last five days alone the price has shot up from $28 all the way to $32 and seems to have found strong support around $31 and ounce. It's looking more and more like it's going stay above $30 mark. Does this mean that the best time to buy has come and gone? Probably not.
Silver is not just used in jewelry and coins, but is an important industrial metal used in electronics, solar panels, photography, automobiles, and is an important catalyst used in chemical production. Demand for silver is likely to continue to climb as supplies will become scarcer. The inevitable result is higher prices in the foreseeable future.
https://img.inleo.io/DQmSZV6mMpFewyLDBWVxa4TZqhjNq5CttNC5iyG9UJ4ck4p/Screenshot%20(1185).png
From kitco.com Last 5 days
This chart is only the last five days of silver prices, if you take a look at the last six months you get a little better idea of how prices are steadily marching upwards.
https://img.inleo.io/DQmfTH46X8uoa6zF8QvamworCDRZpUamFpaN9xBc7n3ZWGm/Screenshot%20(1186).png
From Kitco.com Last six months
I for one am going to continue to purchase silver when there are some dips in the price. I think that testing $35 to $40 an ounce is a very likely scenario in the coming month! The header today is something I picked up a couple months ago in a jewelry shop in Long Beach, California. It's an older silver round, but it sure is nice. I really love the eagle on this silver beauty!
https://img.inleo.io/DQmPW9mhXDKHoeWa1pgiH8RPR5JMpGEzqJaH7cawipdSznp/Screenshot%20(1187).png
https://img.inleo.io/DQmR7Hy4Ybsap1G4Mov4NyAYsPzgn8rFhxpuuhkV57LDRcv/Screenshot%20(1188).png
This was produced by the Northwest Territorial Mint, a company that went bankrupt some years back. They produced some nice silver throughout the time they were in business! It all came to an end when their CEO defrauded thousands of people of some $30 million dollars in silver investments. The lesson to learn is you have to be careful who you trust when buying precious metals and always research them thoroughly. Also if you don't have the actual silver in your hands you don't really own it, just like with cryptocurrency!
That will just about wrap up my post for the day. If you are interested in learning more about precious metals our group here on Hive, the #silvergoldstackers are a great resource. Some members even sell some items here as well. Feel free to come check it out. If you have any questions, suggestions, or comments please feel free to leave them below. Have a great week everyone!
And my disclaimer:
I'm not a financial advisor and this isn't financial advice, please always do your own research before spending your hard earned money.
Photos are mine unless otherwise noted.
References:
https://www.apmex.com/silver-price
If you are interested in precious metals or even want to learn more about them feel free to come join us #silvergoldstackers
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