If you are seeking a new job or second source of income to help keep you on your feet during economic hardships, then you should consider getting into the silver business. Silver, as well as other precious metals, are a good market to get in to, especially during times of economic hardships. This is because silver rarely loses its value, even when the value of paper currency drops. This will help you to remain economically stable even while other people are losing their jobs.
Silver is a beautiful metallic precious metal that is gray in color. Its grayish-white luster makes it extremely liked by many people. Silver forms naturally deep within the earth’s surface and is made to make beautiful sterling silver jewelry, highly valuable tableware and utensils, collectable coins, ornaments, statues, and much more. Due to its durability and versatility, silver is also used in many other industries such as the dental and medical markets. It is also used in photography including in camera and the development of high quality film.
Because of the high spot silver prices, silver makes an excellent business to own. Whether you want to sell silver collectable coins or other types of silver bullion, you can expect to make a decent living in this industry. Silver is a sure bet and with a little hard work and gumption, you will be able to produce a very lucrative company.
In order to create a successful silver business, you will want to learn all that you can about silver. You will also want to learn what types of bullion would be best for you to sell. If you find yourself drawn to numismatics or coin collecting, then opening up a coin dealership where you sell silver coins could be right up your alley.
Even though the economy is in a tight spot, you will not have to fear. If you get into the silver business, you can earn a great living that will help you support yourself and your family. Silver is a great industry to get into because it is used in so many different markets. Its price also never goes down when the value of paper currency drops. This will help you to support yourself even when other businesses are going under. Silver is a great company to start up and you will soon reap all of the benefits of this precious metal.
Another weak unemployment report in the United States has helped gold on 4/27/2012. The price gold rose to $1659 per ounce. Un-employment claims were virtually unchanged from the previous week. While the economy in the United States is growing it is hardly robust, and has not been strong enough to spur new hiring.
The FED also announced that interest rates would remain low. Gold tends to like low interest rates because it spurs investment in the metal. In addition, Central Banks continue to buy gold at a fast pace. Investors should follow this lead because banks are buying gold to further insulate themselves from the debt crisis in Europe, especially now that Great Britain and Spain have officially dipped into recession.
There is enough bad economic news in the US and abroad to keep the gold spot price high and stable. The strong dollar against the weakened Euro has stopped gold from soaring, but other economic factors have been able to keep gold stable and strong. The current fear in Europe is that Spain might need to be bailed out by its EU partners much like Greece was. Spain’s government is doing all it can to avoid that, because doing so means they will lose much of their financial freedom.
However, it is likely that Spain will need some help soon from the EU. Especially troubling in Spain is their high un-employment rate which is over 22 percent. During the Great Depression the United States hit 25 percent un-employment. This gives an indication of just how serious the situation in Spain is.
Although Great Britain has hit recession their economy is in better shape than Spain’s, and they will likely be out of recession sooner versus later. However, this news keeps gold high. Investors should still keep their eyes on Europe. China’s most recent manufacturing numbers showed that sector continues to grow, although at a slower pace. China’s is working hard to ensure their economy makes a soft and not a hard landing as their economic growth slows.
In the end the continued weakness in the American job market along with continuing problems in Europe have kept gold steady and high, despite the stronger dollar. The FED recently helped gold by announcing they will continue to keep interest rates low. Gold performs better when interest rates are low because investors are reluctant to buy into low return investments, and therefore turn to gold.
The truth of the matter is that there aren’t that many investment options in these hard days that carry the assurance of rising values and expanding profits. Perhaps if you are among the most wealthy of folks you can afford to enter the burgeoning field of modern art investments and make grow your personal wealth in that market. However, if you are a person of more modest means, things are not so easy. The investment options that used to be the gateway to personal wealth for so many people in the past, things like real estate or the stock market, just aren’t what they used to be. In fact, it can often seem like an awfully big gamble to put your hard earned money into these fields at this time. But what then is a wise investment choice for these trying times? According to many of the leading experts in the field of personal investing, people should be looking toward the purchase of gold to protect and grow their personal wealth. With the gold price on the rise, many folks are making excellent returns on investment in this lucrative field.
The thing many people may not know about gold is that it is becoming a more and more rare metal as demand for it outstrips the available stockpiles. In addition to the storing of gold for investment purposes, gold is also increasingly used in many very important manufacturing processes such as the consumer electronics field and the growing medical manufacturing industry. At the same time that the demand on gold continues to rise, much less of this metal is being produced, with the most important gold producing regions in the world greatly cutting back on gold mining operations. Due to economic and political troubles in these gold producing nations, it has become harder and more expensive to mine gold. Thus, with demand for gold rising and available stockpiles shrinking, the gold price has been on the rise.
Because neither of these factors—high demand and low supply—are expected to change in the coming years, most industry insiders are predicting that the gold price has only begun its upward climb. Because of this, those with gold holdings right now can expect significantly high returns on their investments. In this way, now is certainly the time to invest in gold, joining the many people all across the country that have made the wise decision to buy gold and secure their financial futures.
If you are looking to invest in a precious metal, silver could be the metal for you. Silver has a lengthy history in which it has been used for jewelry, coins and even utensils—that’s where silverware comes from! In addition, the white metal is often used in dentistry and electronics because of its conductivity. Silver were also used to treat and prevent infection during World War I prior to the invention of antibiotics. The precious metal is clearly an element of many trades.
Much like gold, silver’s roots can be traced back to as early as the 4th millennium BC. Throughout its history it has undergone many uses and the interest in silver has peaked at various times. For example, in the middle Ages the white metal was rediscovered and used to disinfect water and food as well to treat wounds. Today, silver is seeing yet another increase in interest only now it is for investment purposes.
It used to be that people could not decide whether they want to wear a silver ring or silver necklace? Today during economic uncertainty a new concern has arose, do I buy silver bars or silver coins? Silver prices have moved up and down the stock market as people buy and sell their shares in order to protect their assets. Buying silver bullion is a standard way to invest in the metal.
Silver bars vary in size from 10 troy ounces to 1,000 troy ounces with 100 troy ounces being the most popular bar invested in. A troy ounce is a unit of measurement commonly used when measuring precious metals like silver and gold. In countries like Switzerland one can actually purchase silver bullion bars over the counter at banks. They can also be sold back to the bank the same way.
If storing silver bars at your home is or at a specialized storage unit is not appealing, you can also invest in silver bullion coins. Similar to silver bars, also vary in the amount of silver they contain. The Canadian Silver Maple Leaf is the most appealing to investors because it contains 99.9% silver. The lower percentage value of a coin the less silver it contains. Coins that contain 92.5% or even 80% sliver are sometimes referred to as “junk silver.” No matter which coin you choose to invest in, silver coinage is often easier to store for those who want to physically own the metal.