Is silver a safe bet compared to having money in the bank?
Soon the money in your bank account will be digital money and if we end up having a system like the Chinese have now, all your transactions will be recorded.
The biggest flaw I can see is if a cyber attack wipes out all your digital funds and leaves everyone with nothing (sounds familiar).
Silver is physical and it does have value but the price is controlled so I wouldn’t be surprised if in the sort term the price will keep rising. Long term, “they” may reduce its worth and a lot of investors may sell at a low price. It’s a risk but in the long run it’s worth hedging your bets.
Silver coins are possibly the oldest mass form of coinage. Silver has been used as a coinage metal since the times of the Greeks. Their silver drachmas were popular trade coins. Another ancient one is Chinese 6th or 5th BC Ying Yuan.
Many factors determine the value of a silver coin, such as its rarity, demand, condition and the number originally minted. Silver coins coveted by collectors include the Denarius and Miliarense.
Other than collector’s silver coins, silver bullion coins are popular among people who desire a “hedge” against currency inflation or store of value. Silver has an international currency symbol of XAG under ISO 4217.
Before 1797, British pennies used to be made out of silver while the ancient Persians used silver coins between 612-330 BC.