Investing in silver coins is one of the best ways to protect your hard earned money from the potential ravages of inflation. The spot price of silver has been on a continual climb when charted over the past decade. Silver coins are the perfect investment vehicle for investors who find that gold is out of reach for their current finances. In addition, there are many in the market who predict that the price of silver will skyrocket in the near future.
When selecting silver coins, it is best to choose those that are minted by a reputable source. The most recognized coins are those that have been minted by different governments as actual currency. Silver American Eagles are one of the more recognizable coins on the market today. In addition to Eagles, another popular coin is the Canadian Maple Leaf. The Maple Leaf has the advantage of being .9999 pure silver while most other coins only reach .999 in purity.
Other popular coins include Austrian Philharmonics and Chinese Pandas. Many of these coins have numismatic value as well as their inherent precious metal value. The numismatic value comes when a coin is in high demand. This can be caused by many factors, including a limited run or a special design on the face of the coin.
Some silver coins can be placed in an IRA account. Check with your retirement professional in order to determine which coins will work in your account. Usually, an IRA will accept coins that have been minted by governments and reputable mints. Many financial advisors recommend placing silver coins in an IRA as a way of diversifying your investment portfolio.
There are many reasons for the recent run up in the price of silver. One is that the metal has inherent industrial value. It is used in computers and cellphones as well as clothing and medical products. In addition, Chinese and Indian investors have entered the market over the past decade. All of these small investors entering the market has driven the high demand for silver coins.