Saving in Silver - Not a Bad Idea Historically Speaking

Since the beginning of this 21st Century, silver’s value versus every one of the hundreds of fiat currencies has increased.

If you are looking for something with more long term stability coupled with value appreciation potential versus continuously inflating paper and digital fiat currency options, than you should consider silver bullion.

Silver as Money

Virtually every successful culture since ancient times issued or had sterling silver coinage in their monetary system. Examples include ancient Lydian silver coins, Greek drachma silver coins, the silver Roman denarius coin, British pound sterling silver coins, US silver circulation coins, and Canadian silver circulation coins.

While silver does not get the same recognition as gold for its role in history, iconic experts in the field of economics and monetary history recognize silver’s importance. “The major monetary metal in history is silver, not gold”, that was according to Nobel Prize-winning economist Milton Friedman in 1993. He was most likely referring to the fact that the frequency silver has been used as transactional money more often in human history than gold and or any other currency to date at that time.

Silver literally or figuratively means money or cash in various languages spoken by over 1 billion people across the globe (e.g. French, Thai, Greek, Portuguese, & Spanish). Today millions of silver investors privately hedge their wealth against economic disruptions, bank bail-ins, fiat currency devaluations, and systemic financial crisis by acquiring either old formerly circulated silver coinage and as well 100% pure privately minted modern-day silver bullion rounds, new silver coins, and silver bullion bars. This is one of the most common ways people “save” their money through physical silver.

Where does Modern Silver Get Its Value?

The vast majority of silver mined in the world does not get turned into silver bullion for purchase and or store of silver value saving. Instead, most new mined and refined silver today is heavily used as an industrial metal input. Silver remains 2nd only to crude oil in the amounts of real-world products and applications this precious physical commodity is used in. Just about 1/2 of the yearly silver supply typically gets used in industrial applications. Silver demand is driven significantly more by industrial demand than gold for instance.

Silver Uses

Real Life Example of Saving In Silver

If you want to save in silver and are on a budget, here's a great way to get started. Let's say you want to saving $100 every two weeks in physical silver bullion. The easiest way to get started is to create an account here at SD Bullion. Once you login to your account, you can select "My Payment Data" and add a credit or debit card to your account. Go ahead and set a default billing and shipping as well. 

Every two weeks, log in, add your silver items to your cart and at checkout your address and billing will already be filled in. This allows you to checkout and be on your way very quickly.

Watch Out For These Silver Saving "Schemes"

One thing we would warn against is pre-paid savings plans. What we mean by that is some companies out there allow you to setup monthly or weekly saving drafts. In this scenario, they may pull $50-$100 (or whatever you tell them) directly from your account and fill your order. In these scenarios you are giving up lots of margin. In other words, you are getting less silver for your fiat dollars. 

The best way to save in silver is to buy and lock in the pricing at that time for the exact amount of money you want to spend/save/invest. This allows you to get the most silver at the current spot and premium prices.

If you would like to learn more about the fundamentals of investing in silver, check that out here.

If you would like to purchase silver to either add to or start saving silver, check out our silver collection here or give our experienced silver bullion trading department a call at 1-800-294-8732.

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Chris Keller
Chris Keller
Product Specialist

Chris Keller has a passion for the precious metals industry (he's been collecting coins since he was a child). He specifically enjoys creating written and video content around unique products that our customers might not see otherwise. At SD Bullion, Chris has consulted thousands of bullion investors leading to millions of dollars in sales...