Silver is the best conductor out of all the precious metals. It is an innovative and fundamental material appearing in many new products such as water purification systems, media storage, jewelry and stained glass. Silver is an anti-microbial and a non-toxic material, which makes it extremely useful for everyday usage especially by the health industry.
Silver is 17.5 times more abundant in the earth than gold. For this reason, the gold / silver ratio has historically been 16:1, meaning that price-wise it takes 16 ounces of silver to buy one ounce of gold. Today, that ratio is roughly 80:1. Many metals experts have stated that when the gold / silver ratio corrects, the price of silver could potentially skyrocket!
Gold and silver are some of the only precious metal currencies that have intrinsic value–a value that is calculated based on simple assumptions.
Roughly 56% of all silver mined is used for industrial purposes while only 9% of gold mined is used in the same way. Therefore, silver has a much higher industrial demand than gold.
In ancient Egypt, Silver was valued much more highly than gold.
Silver today is worth less than gold, but historically that has not always been the case. Changing silver values are based on supply and demand.
Silver is expected to increase rapidly in the coming years. Now is a great time for a silver investment while the cost is reasonable.
At Reagan Gold Group, our IRA commodity specialists will help you setup your own Precious Metals IRA account.