When most of us think of precious metals gold tends to be our first thought. Silver, the less expensive of the two, tends to be relegated to second place. Silver is often thought of as similar to gold in that it’s pretty in jewelry and has always had value, but it’s fundamentally of no use to society. You could make that argument about gold which is why investors should look at gold as more of a currency than a commodity. Silver, contrary to gold, does have significant industrial and practical applications. Approximately half of all the silver produced globally is used by industry, the balance being used as jewelry or for bullion.
“Gold is the premier currency where no fiat, including the (U.S.) dollar, can match it.” Alan Greenspan, 2014