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8 Compelling Reasons to Invest in Silver in 2024

Is silver a good investment in 2024 and if so, why?

With record numbers of people investing in silver, in lieu of traditional investments, it seems to be.

But should you invest in silver with your portfolio?

Well, to help you separate the wheat from the chaff and come to your own conclusion, we’ve written the “8 Compelling Reasons to Invest in Silver in 2024”.

Let’s get started…

Silver Is Real Money

Silver has been used as a monetary metal for thousands of years. Silver coins were used as a means of exchange as far back as Ancient Greece, Rome and China. In fact, historically, silver bullion coins have been used more commonly as money than gold.

Most people don’t know that the dollar was once backed by both gold and silver bullion. Silver coins were an everyday part of life up until 1964. That’s when the government removed all physical silver from quarters and dimes.

Below is a U.S. silver certificate from 1923, redeemable in actual silver bullion coins.

us-silver-certificate

Physical silver…

  • Has always had value. Silver has never been worth nothing.
  • Can’t be inflated away like fiat currencies. The silver price historically rises with inflation.
  • Can’t be defaulted on. You own your silver bars or coins outright.
  • Has a long term track record. Silver coins have been money as far back as 600 BC.

“As a precious metal, silver is also money.” – Robert Kiyosaki

Silver Is Historically Undervalued

What else is currently worth less than half of what it was over 40 years ago? Silver prices reached $52.50 in 1980, and it’s currently worth less than half that.

Globally, there is now 55 times the amount of currency floating around as there was back then. If the same percentage of available capital was invested in silver today, as was in 1980, spot silver prices would be over $2,500.

Between the two precious metals, silver is known as the “Poor man’s gold”. But as we’ll see in the next point, what if buying silver coins afforded you the same protection as gold, if not better?

“The gold/silver ratio is currently around 70, which suggests silver is vastly undervalued.” – Stefan Gleason

Silver Outperforms Gold in a Bull Market

The silver market is tiny. In fact, the gold market is 20 times larger. So it doesn’t take a tremendous amount of people or industry investing in silver to move the market price.

As gold rises, silver tends to follow suit. At a certain point, gold becomes too expensive for many investors who then invest in silver pushing it even higher.

According to silver investing legend David Morgan, “Silver tends to outperform 3:1 in bull markets. Once silver eclipses $30-50, the next move could soar to $70-$100.”

silver-historic-price-increase

Record High Industrial Demand

According to the Silver Institute, demand for silver was up by 16% in 2024, to 1.2 billion ounces, a record high.

Unlike gold, the majority of silver consumed is as an industrial metal. Last year, industrial demand was up to 49%. It was 45% just a decade ago.

Due to record demand, the physical silver market faced a 176 million ounce deficit in 2023.

As world governments push their green agendas, the need for silver rises. By 2025, nearly 10% of annual physical silver production will be consumed by just the automobile industry. Solar panels already consume 12% of global silver supply and is expected grow.

With silver being the best known conductor of electricity, it’s used in everything containing an electrical circuit. So demand for pure silver is not only showing no signs of slowing down but increasing.

current-silver-demand

Record High Investment Demand

Silver investing demand was up 18% in 2023, a record high.

The British Royal Mint saw record demand for both precious metals. But there has been a whopping 29% increase in silver bullion sales year over year despite rising interest rates. They also saw a 5% increase of new clients investing in silver.

The Perth Mint saw demand for silver bars and coins jump by more than 21%. They also noted solid European demand as investors rushed to buy silver bullion as an inflation hedge.

India, the world’s largest consumer of silver, imported a record 9,450 tonnes in 2023. According to Indian CEO, Chirag Thakkar, “Investment demand has been boosting imports. Investors are anticipating poor man’s gold will beat gold in coming years.”

Dwindling Supply 

According to the Silver Institute, a total of 1.017 billion ounces of silver was mined in 2023, but demand was 1.210 billion ounces. That’s a deficit of 193 million ounces, 4 times that of 2021 and a multi-decade high.

Only about 1/3 of the silver supply comes from pure silver mining companies. The other 2/3 is a byproduct of mining other commodities like copper and zinc.

But investment in mining companies dried up the last 2 years because economies and supply chains were shut down. So, because less capital was spent on mine development, mining companies produced less silver and other commodities.

And, with the price of silver as low as it has been, less people are willing to sell silver for recycling purposes.

So, if the silver mining companies can’t keep up with record demand, it’s only a matter of time before that’s reflected in the price of silver.

silver-demand-outpacing-supply

Gold to Silver Price Ratio

Silver prices were officially pegged to gold at 15 to 1 in 1792. Because, at that time, the idea was there was approximately 15 ounces of physical silver to every one ounce of gold.

Yet, throughout the 20th century, the gold-to-silver price ratio averaged 47 to 1. Meaning you’d need 47 ounces of silver to buy an ounce of gold. 

But, according to Keith Neumeyer, the CEO of one of the largest silver mining companies, First Majestic Silver Corp, “For every one ounce of gold the world is producing, the silver miners are producing only 8 ounces of silver. Which is pretty shocking when you consider that the theory is that there is about 16 to 1 silver to gold in the earth’s crust. But we’re only mining half of that. So maybe the original theories of silver itself are actually not correct. Maybe silver is much rarer than actually the scientists think it is.”

If the price of silver were to reflect the amount of it being mined in relation to gold, the spot price of silver would have to increase by close to 700%, without gold moving at all. 

Portfolio Protection

It’s no secret that the world economy is in trouble. Global debt has never been higher. Inflation in the U.S. is at 40 year highs. And countries all around the world are moving away from using the dollar. 

The stock market just had its worst year since 2008. While both bonds and real estate are feeling the effects of rising interest rates. 

Silver is money, it’s a monetary asset, and it tends to do well during economic upheavals and as currencies are inflated away.

As resource investing legend Leigh Goehring says, “Silver will rise substantially due to monetary reasons. The U.S. dollar won’t survive in its current form. There’s no free lunch here. The debt is not sustainable and can never be repaid. And, with higher rates, the U.S. government won’t be able to pay the growing interest on that debt without printing money. Gold’s going to the $10,000 range; they’ll destroy the dollar. Gold will lead silver, but silver will surpass it, and the ratio will hit 20 again.”

The last time the gold/silver price ratio was around 20, was in 1980. If gold does hit $10,000 an ounce, like Goehring forecasts, and the ratio reverts to 20, silver will be worth close to $500 an ounce. 

Or another way to look at it is silver hit its all time high of $52.50 in January of 1980. At that time, there was 1.48 trillion U.S. dollars in circulation. Currently, there are over 21 trillion in circulation: an increase of just under 1500% as seen in the chart below from the Federal Reserve. 

If silver prices were to increase by 15 times, from its high of $50 when there were only 1.48 trillion in circulation… silver would be $750 an ounce.

Nobody has a crystal ball, and we can’t say for sure how high the silver market will eventually go in 2024 and beyond. But we are certain that the fundamentals are pointing to a much higher silver price than where it’s at now.

Now that you understand the supply and demand fundamentals of the silver market and why it’s poised to do so well.

What’s the Best Way to Invest in Silver?

Investing in silver is personal. It depends on what your investment objectives are.

Below we’ve listed the most common ways to invest in silver.

Buy Silver Coins

Silver bullion has stood the test of time. It’s a portable, permanent store of value, unlike paper assets.

Physical bullion has no counterparty risk, you own it outright. How many other physical assets, besides gold and silver, can you hold in your hand?

Silver bullion performs well as a defensive asset. The price of silver tends to move inversely to traditional investments. Therefore, when investors are concerned about the state of the economy, stock and bond markets or inflation, many tend to purchase silver.

Owning physical silver bullion is a safe, conservative way to protect one’s wealth in times of economic uncertainty.

One potential downside about physical silver is storing it. Silver bars and coins are bulky. It’s not difficult to stuff a safety deposit box with silver. Or even a gun safe for that matter.

If you’re investing in silver inside of a retirement account, storage isn’t a consideration because your metal is stored and insured at a 3rd party depository for a flat rate of $100.

Buy Silver ETFs

An ETF (Exchange Traded Fund) provides investors with exposure to the price of silver without having to own it. Silver ETFs track the price of silver enabling investors to profit from the price increase of the precious metal without having to store and insure it.

iShares Silver Trust is the largest silver ETF. They use a physically backed methodology allowing them to avoid using complex futures contracts.

Precious metal ETFs are an effective way for investing in silver for the short term. They’re typically very liquid and convenient because they can be bought and sold in a traditional brokerage account.

You also don’t have to worry about storing, insuring and shipping bulky bullion bars or coins.

Buy Silver Streaming Companies

Streaming companies invest in silver and gold mines in exchange for the right to buy some of the precious metals produced at prearranged fixed prices. This enables them to profit from an increase in the price of silver without the risks associated with running a mine.

Wheaton Precious Metals is one of the largest precious metals streaming companies with some of the highest exposure to silver.

Silver streaming companies can be an effective speculation on the price of silver, but you don’t own any physical silver.

You can buy silver streaming companies stocks with a traditional brokerage account.

Buy Silver Mining Stocks

Buying silver mining stocks allow you to speculate in silver companies who mine and refine silver. Known as silver miners or silver stocks, their performance depends not only on the price of silver but also exploration and the development of mines.

Silver mining is a very difficult, capital intensive business and can therefore be risky. With silver stocks, you’re betting on the people running the company more than the underlying commodity.

Silver miners are convenient to buy because most are listed on the major exchanges.

Buy Silver Futures Contracts

Buying silver futures contracts is the most complicated way to invest in silver and is typically reserved for more sophisticated investors.

A futures contract is a legal agreement to either buy or sell an asset at a predetermined price at a set time in the future between two parties that don’t know each other.

Simply put, future contracts are a bet on what the value of something will be in future.

For more sophisticated investors, futures contracts can be an effective way to bet on the price of silver in the future. Futures contracts allow investors to speculate either short term or long term while using leverage.

In Closing…

If you’ve made it this far, I think it’s safe to say you’re pretty open to the idea of investing in silver.

If your desire is to protect your retirement and you’re a conservative investor with an outlook for the next few years, physical silver bullion coins are really hard to beat. Maybe even a combination of both silver and gold.

We recommend sticking with widely traded, popular bullion items such as those from the U.S. or Royal Canadian Mint. Make sure to stay away from obscure “premium” or “exclusive” coins that many dealers will try to push on you. They tend to be grossly overpriced.

Call the Certified Gold Exchange now at 800-300-0715 to see if investing in silver is right for you.

gpaanagpaana ★★★★★ It has been my pleasure working with Patrick Collins and Sara with CGE inc.being new to selling metals, Patrick walked me step by step in the process through distributions with my IRA. Whenever I contacted him with questions or concerns, he replied within an hour or minutes to resolve my percieved issues. What a comfort Patrick has been in this (at times) somewhat stressful process.Thank you Patrick!Tandy ClineTandy Cline ★★★★★ I recently sold Gold and Silver through a precious metals IRA. I had an amazing team at CGE working to buy and handle the sales process of my metals. The team was fast, honest and overall outstanding. I had a sales price and contract within 2 hours! 😮It was my first time selling precious metals and they made the process as seamless as possible, despite multiple hiccups caused by my chosen custodian failing miserably. I will choose this team for every precious metals purchase or sale in my future.Bryan VBryan V ★★★★★ Gold Exchange has always been a trusted source of my precious metals and the after support is worth its weight in gold! Patrick Collins is always there to help, support, and go the extra mile! If you are going to invest in precious metals anyone can sell you bars or coins - but nobody has better customer service! BAR NONE!Mark LamdenMark Lamden ★★★★★ I was new the directed IRA concept, but was very grateful to Patrick at CGE in helping me navigate the process. I look forward to a long term relationship with CGE and Patrick as a trusted precious metals dealer.Belinda MurelBelinda Murel ★★★★★ Working with Pat and the team at Certified Gold Exchange made the process of diversifying my retirement savings stress free. I’m confident the selection of precious metals offered were the best fit for my situation and at the best price. No high pressure sales tactics, just fact based answers to the questions and concerns I had. Highly recommend.Timothy FeeleyTimothy Feeley ★★★★★ Working with Certified Gold Exchange has been a positive experience. Working with Pat is not just working with another business vendor, I feel I am working with a trusted advisor. No hard sells. No wild claims. His explanation of the paperwork process between companies and his follow-up during the process is excellent. I appreciate his fact-finding approach to my specific needs. He always had time for me to ask questions and/or discuss ideas I was thinking about. A good business relationship.Warren RichardsonWarren Richardson ★★★★★ I had an excellent experience with Certified Gold Exchange. I dealt directly with Pat Collins who was professional, knowledgeable, informative, and very easy to work with. He responded quickly and precisely to any and all of my questions. Very highly recommended!Edward AlbertEdward Albert ★★★★★ I was looking to liquidate the precious metals in my IRA . The horror stories I had heard of about some gold and silver dealers had me very apprehensive. When I called Certified Gold Exchange and talked with Patrick, I quickly felt a sense of trust in his voice. He answered all my questions and understood my fear of getting taken advantage of. He and his team work very hard behind the scenes ensuring the transaction to go smoothly. As a result CGE has earned my 5 star rating! I will contact them again if I want to buy or sell in the future!ALAN BROWNALAN BROWN ★★★★★ Certified Gold Exchange's website really jumped out to me as I began researching precious metal IRA's. I found it to be incredibly comprehensive and informative, answering questions I did not even know to ask and alerting me to bad practices within the industry as well. So, I called and found the CGE team to be every bit as helpful as the website. They were responsive immediately and throughout the process of establishing an account and funding it. They were particularly helpful when dealing directly with my current custodian and getting funds rolled over. Pat and Mary have been courteous, personable, and very professional working with me and even helped with questions outside the immediate business at hand. I have already referred friends to CGE and will continue to do so.Alison WeinbergAlison Weinberg ★★★★★ Pat and team are very knowledgeable and professional!Ismail KenessyIsmail Kenessy ★★★★★ Customer since 2005. Professional, courteous, and helpful. CGE walked me through the process and provided the best prices available with minimum costs. Excellent service.Joe MurrayJoe Murray ★★★★★ What super service I received from the Certified Gold Exchange precious metals IRA team. Wow is all I can say! I had a large amount of coins in a gold and silver IRA for many years and decided to sell. I spent just about a whole day talking to several metals dealers about purchasing my metals. Call after call I did not feel good about what I was hearing with these dealers so I called the company that helped me set the gold and silver IRA up. Their name is Broad Financial LLC. I explained the problem I was having with finding a buyer and they said that is common in the industry. They told me to call the Certified Gold Exchange, Inc in Fort Worth, Texas. I spoke with Mr C there and was impressed that their quote was above the spot price (because I was hoping to get the spot price). They explained that American Eagles buy back at over spot and I said not with all the other dealers I called. I shipped the metals to their New York depository following the Certified Gold Exchange's instructions. Candace at CGE tracked the package every step of the way and I was updated along the way. Then when my metals arrived at the Certified Gold Exchange depository they told me that several of my coins were actually American Eagle Proof coins, not the bullion version I thought I had. They increased their original quote by $3000.00 dollars! Shocking that a company would be so honest because they could have just sent the original amount and I would have been happy. Needless to say I will never deal with a different metals dealer except the Certified Gold Exchange. Their gold IRA team is the best by leaps and bounds. I highly recommend Candice, Mr. C and the CGE team to any one looking to buy or sell metals with a great experience. Americans trusted source For Gold is not just a tagline with these folks.ted okolowiczted okolowicz ★★★★★ After searching and checking out different metals companies, I decided that Certified Gold Exchange Inc. was my choice. They have exceeded my expectations and made my IRA rollover easier than I thought.You can be very confident by the way every step was handled (very professional).So kudos to the whole TEAM and thank youJoseph GlassmanJoseph Glassman ★★★★★ I had a very good experience with Certified Gold Exchange and I highly recommend anyone considering a IRA Rollover into precious metals, talk to David White at Certified and do business with them. They are honest and will have your best interest as their concern.. David took care of my needs completely with honest and fair pricing. I shopped around and decided on Certified.Lefty and Mary JamoraLefty and Mary Jamora ★★★★★ Thank you David and Pat for educating us on the gold and silver markets. Pat especially helped us thru our first purchase of silver.M PhommahaxayM Phommahaxay ★★★★★ So glad I found CGE! Although, they don’t do business in my state, David White was so kind to take the time out of his busy schedule to educate me on precious metal investing. His advice was extremely valuable which saved me a ton of money. I would definitely recommend and refer any of my friends or family members interested in investing in precious metals in their service area. So thankful for David and this company!Rickey JohnsonRickey Johnson ★★★★★ My experience so far with Certified Gold Exchange was all very positive. Everything went smoothly and P. Collins was awesome in helping us navigate through the process.Aaron BrabhamAaron Brabham ★★★★★ I called Certified Gold Exchange to get information on a crypto currency IRA. I had a ton of questions and Steve not only answered all of them but also informed me of many things I had not thought of.I decided to invest $60k and in just three months it's over $120k! Not only that, the team at Certified Gold Exchange has excellent customer service.I highly recommend them.Mark OLearyMark OLeary ★★★★★ Philip with the certified gold exchange was incredibly helpful in helping me to setup a Cryptocurrency IRA. He knew exactly what questions to ask my existing custodian to make the rollover as seamless as possible. In just a short few months with the recommendations of Philip; I have already seen over a 250% return on my investment. Highly recommended.Gal TabGal Tab ★★★★★ The reason I give it the maximum stars is because everything happened just the way they planned it. I invested a considerable sum of money with them and as anyone would be, I was a little scared. I did my research and They came highly recommended as being ethical brokers. Their fees are very competitive and look forward to doing more business with them.Diana FincherDiana Fincher ★★★★★ I rolled over my IRA into Silver a couple of years ago and made a friend! Agent Pat C, Certified Gold Exchange, Inc., has far exceeded my expectations with continuing, careful watch over my investment. He always surprises with immediate personal response to my slightest question and inspires confidence to hold to The Plan. Pat’s personal touch and excellent recall is reassuring and has proven that he will keep me informed when any changes are advised. Ask for Pat - he’s excellent, excellent!Steve AstinSteve Astin ★★★★★ This was the 3rd company I called and by far the most professional. Thanks Patrick for the great service!Alicia O'RearAlicia O'Rear ★★★★☆ Thank you for donating 16 bibles for our foster children at Albuquerque Christian Children's Home! This is a wonderful company with a heart for ministry.Kyle SandersKyle Sanders ★★★★★ I was interested in doing a gold IRA rollover and contacted several firms after researching on the web. Certified Gold Exchange's website had the most useful information by far compared to other firms. Their representatives have been a pleasure to work with--professional, answered every question I had, and I'd recommend them to anyone looking at a gold IRA rollover.Robby BryantRobby Bryant ★★★★★ I am a Certified Financial Planner, and Certified Gold Exchange has helped us purchase gold for 16 years without a hitch for our clients and at excellent prices. We couldn’t be more satisfied!Anne SayreAnne Sayre ★★★★★ My husband and I were thrilled with the service we received at Certified Gold Exchange! Shipping our gold to us was quick and very simple. So happy we did not have to pay for the TV advertisements with celebrities like so many of the other precious metal companies. We will be buying again from CGE!Neenah PayneNeenah Payne ★★★★★ Certified Gold Exchange, Inc. is a highly professional firm that was a pleasure to do business with. It provides fast and accurate service. The firm went out of its way to be helpful on a number of key issues. I highly recommend them. I was extremely lucky for several reasons to have called the Certified Gold Exchange, Inc. when I was ready to sell my gold and silver coins. When I called the firm, Liam on the service desk explained that they scan hundreds of gold dealers to get me the best price. That was very comforting.When I spoke with coin dealer David White, he was able to give me a quote in 3.5 hours. He also explained the importance of shipping my coins via registered mail with the Post Office. David said that the Post Office requires a registered box to be sealed with brown paper tape to prevent tampering. David emailed me links to sites that showed the right tape to use and how to seal the box. He called several UPS stores in my neighborhood to try to find the tape for me. In the end, I bought the tape from the Post Office. David explained that while Fedex and UPS would ship the coins, since they are not allowed to ship gold or silver, I would have no recourse if my coins were lost. David even gave me his home number so I could reach him after hours if necessary.My experience with Certified Gold Exchange, Inc. stands in stark contrast with how two other coin brokers responded. The firm from which I had bought most of my silver coins never called me back. On November 13 when I called the broker from whom I had bought most of my gold coins, I couldn't get through on the phone. So, I emailed them and it took 5 days for them to respond! The broker didn't give me a quote until December 2 -- and then only for some of the coins! He said he would tell me what they would pay for the other coins after I shipped them!In addition, that broker explained that one of their customers had lost all their coins valued at $22,000 because the box was tampered with and they had failed to insure them for the full amount. However, I knew by then that if the firm had told the customer to ship the coins via registered mail as Certified Gold Exchange, Inc. does, the box could not have been tampered with.So, Certified Gold Exchange, Inc. is the only gold and silver dealer I recommend. The level of service is truly remarkable.Jovita GarcesJovita Garces ★★★★★ What do you do with what little you have to put away for the future? After my divorce 16 years ago, I decided I needed to find an IRA and invest my children's money into something that would retain and grow in value through the years. I found a great website called Certified Gold Exchange that intrigued me and when I called, John listened and understood my needs and helped me understand the value of investing in rare coins and precious metals before taking that all important step. I am happy I took a leap of faith knowing the prospect for growth in my precious metals IRA and children's funds for college and maybe first home some day was very real. I believe I made the best choice for our future. I can always trust CGE to give me honest and dependable service everytime I call in them.Maria SMaria S ★★★★★ Patrick Collins and Certified Gold Exchange (CGE) Team: I appreciate the support, you took me on for this transaction when I wasn’t even an existing client. (Yes I know CGE made some money). It was you manner, caring and fast response that made me feel very comfortable with you.Your interest in helping me on such short notice shows how much you care for your clients. I hope 🤞 to have you as one of my financial team in the future.Natalia ArizaNatalia Ariza ★★★★★ Certified Gold Exchange is the best metals company in the US hands down!Paul LiftonPaul Lifton ★★★★★ Piper PetersonPiper Peterson ★★★★★ It's not always the case with precious metals dealers but the Certified Gold Exchange hires the best advisors in the industry and this is the reason for their outstanding reputation.Eric BenjaminEric Benjamin ★★★★★ We have purchased from several dealers and hands down these guys have been the best. Above and beyond are the words I would use to describe their service. You will not be disappointed if you have been on the fence about buying!Josh SingerJosh Singer ★★★★★ Working with Certified Gold Exchange has been a great experience. The Certified Gold Exchange staff are very very good communicators and clearly have a lot of experience. Anytime we had a question or needed anything from them they responded the same day, if not the following morning. I would recommend working Certified Gold Exchange. Hands down great communicators and great business people.Burt DumertonBurt Dumerton ★★★★★ I have been working with Certified Gold Exchange Inc. since 2005 and have found them to give exceptional service and prices for precious metals. They have always treated me with great respect and given extraordinary personal attention to my account and to me personally. Their advice on many occasions have kept me from making some pretty serious errors in my investment decisions. They are prompt to return my calls and take special care to not be pushy or arrogant. Excellent to do business with. Give John a call.js_loader
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10 GOLD IRA SCAMS
DEALERS USE ON YOU

10 Gold IRA Scams Dealers Use On You

10 Gold IRA Scams
Dealers Use On You

Secure your retirement! Avoid these 10 Gold IRA scams.

Secure your retirement!
Avoid these 10 Gold IRA scams.
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    We Do Not Allow Visitors to Our Call Centers. 
     
    The Certified Gold Exchange is a national volume discount dealer supplying popular bullion and PCGS certified coins. Since 2020 most of our representatives work remotely. We no longer allow visitors to our Fort Worth Call Center but you can still get the same great service by calling.
     
    Our institutional staff does take visits from bank, and corporate clients. 
    To learn more about this policy please call 800-300-0715

    10 Gold IRA Scams Dealers Use On You

    10 Gold IRA Scams
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    Secure your retirement! Avoid these 10 Gold IRA scams.

    Secure your retirement!
    Avoid these 10 Gold IRA scams.
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      Discover 7 Secrets Your Gold Dealer Doesn't Want You To Know