Neither silver nor gold are being used as a circulating medium of exchange or as common currency. Neither will silver or gold lose value or be nationalized. Ironic that the first silver currency of the modern Greek state was called the Phoenix, considering Greece's financial woes of today.
The gold and silver buying mania is everywhere as investors see the success of precious metal owners' portfolios. To rebuild, guard and prosper after the fiscal politics that devalued the dollar, investors are capitalizing on the profits created by the real intrinsic worth of gold and silver.
People around the world recognize silver's value and it is a popular affordable investment. The US has now allows IRA's (Individual Retirement Accounts) to invest a portion of that portfolio in silver bullion and silver coins. [Call Today] 888-98-Buy-Gold or visit:SilverForMyIRA.com...
However, banks do not want the populous to protect their wealth by saving or hoarding gold or silver. They need movement in the circulation of money to keep bank profits growing.
This worldwide awareness of self-protection of assets through precious metals has reached the common man who is also attempting to repair recent losses and prepare for future profits, if only one silver coin at a time. Since silver is so under priced, and in a lower price bracket then gold, is it easier to accumulate.
Yet, demand for silver is skyrocketing. Just look at the population of China and its needs for silver in the manufacture of electronic, electrical and medical goods to supply its citizens. Its population is as big as Europe and the US put together and its economy, in just the last 10 years grew 300%.
The demand, the limited availability and the small supply of silver are driving its value to unheard of heights as the dollar continues to weaken. When industrial supply and investment demand converge, a global surge will take place. Depletion by industrial usage and shortages caused by lack of new mining will enhance and propel this silver surge.
In 2009, silver posted an average price of $14.67, the second highest average since the high reached in 1980. Much of that strength is attributed to the high demand for silver exchange traded funds (ETFs) as well as physical retail investment. Also, a 21% increase in coins and medals fabrication created this new record.
In an article in Barron's Magazine it was concluded that using the Silver Institute's figures, that the total world silver stock is 650 million ounces, the world would run out of silver completely in 4 years.
Reflect on the fact that Central Banks dumped silver and the fact that these same Central Banks will never get it back. The reason? The silver is being consumed and can't be replaced.
The low price of silver is actually encouraging more consumption and less production! Yet, investors continue to turn to silver as a safe haven against sovereign debt risks
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