The value of silver is not directly related to the dollar. Therefore, it is likely that its value will not decrease if the dollar collapses. In fact, some financial experts believe that the value of silver would likely increase significantly if it were in the U.S. UU.
In the past, bullish increases in silver caused a lack of supply in the bullion market. For example, during the bull runs of the 2000s, silver coins simply weren't available. When there was a limited supply, the premium of the coins exceeded the spot price by 20% to 40%. Indeed, the limited supply causes the price of silver to rise even higher due to panic in sales and hoarding.
Unlike gold, silver is widely used in manufacturing. In fact, silver is used in batteries, dentistry, glass coatings, LED chips, medicine, photography, photovoltaic (or solar) energy, nuclear reactors and RFID chips (to track packages or shipments around the world), semiconductors, touch screens, water purification, and more. Because of this, much of the world's silver is taken out of circulation or otherwise destroyed. During bull commodity markets, silver often outperforms other precious metals.
Almost anywhere in the world you go, you can use silver as money. Therefore, it has a lot of value. In addition, silver is expected to be the preferred currency for everyday transactions in the event of a fall in the US dollar. In the event of a hyperinflationary collapse, it is to be expected that many independent stores or private sellers will accept precious metals such as gold and silver for their transactions.
In the event of a collapse of the US dollar, the value of silver will be immense. Therefore, it may be a good idea to diversify some of your wealth into silver, especially junk silver. Even starting with a small monthly investment is a step in the right direction. At Allegiance Gold, we can show you exactly what could work for your financial portfolio.
Our executives are constantly educating our clients on the importance of adding precious metals to their financial portfolios. Be sure to call 844-790-9191 and request a free guide to the Golden IRA, or simply fill out the form below. Now is the time to act to learn how silver and gold can preserve your wealth. Save my name, email, and website in this browser for the next time I comment.
It probably wouldn't be hard to sell, as many of these individuals and companies would be better off accepting gold and silver, especially if they can do so at the current spot price of gold and silver. For more information on Oxford Gold Group's gold and silver IRA plans, read their page How to Invest in a Silver IRA or call (83 600 — GOLD) to talk to an investment professional about their precious metals investment plans. Brokers who previously only traded ETFs or gold and silver mutual funds can also expand their business to trade physical gold and silver if they need to. In fact, we regularly buy gold and silver coins from individuals who were paid in the form of gold and silver coins.