Throughout recorded history, true money has been defined as a tangible item accepted for exchange and considered to have value.
This article is a follow-up to our last blog which discussed the merits of owning physical gold. Both novices and long-time investors stand to benefit from a review of the basics of owning physical silver. The following list contains some, but not all, of the reasons to buy tangible silver. Some items on the list hold true for any precious metal, others are unique to silver.
Recently lawmakers in Idaho and Arizona have passed bills removing Capital Gains Taxes from transactions involving gold and silver bullion.
Government bureaucrats, central bankers, and Wall Street executives all have reasons for ridding the masses of their cash. It should be no surprise to anyone that they are working together to achieve that goal. But why? The self interest of bureaucrats is one factor, they don’t like privacy. They dream of the day when they can access all your financial information with just a few keystrokes. The knowledge will help them more aggressively tax and regulate.
It’s no secret that here at Jack Hunt Gold & Silver our focus is on buying and selling precious metals. Being confirmed Capitalists we hope that those who read this consider putting a conservative percentage of their wealth into tangible gold, silver or platinum.
Many loyal customers of Jack Hunt and followers of this blog may recall our article from April of this year titled War on Cash. That article dealt with the potential for the future abolition of currency, both in the United States and abroad.
There are many drivers of precious metal prices, such as global economic growth, supply and demand, inflation expectations, interest rates, geopolitical turmoil, etc. However, one of the primary influences on the price of gold and silver, that investors must always keep their eye on, are movements in the global currency market and especially the U.S. Dollar.
Silver and Gold are ranked number one and number four respectively in numerous listings of best performing assets in H1, 2016. Silver was the highest ranked asset showing a 38% price increase since the first of the year while Gold reflected the fourth highest increase in valuation this year with a 26% jump year to date. Only sugar and soybeans barely kept gold out of second place. They were the top ranked assets prior to Brexit and in the subsequent market turbulence since Brexit have retained their lofty status compared to other assets. Platinum and Palladium fared well too with 2016 gains of 16% and 6% respectively.