The average person can’t afford to buy gold, so it is most suitable for wealthy people for investment and central banks.
With silver being so much cheaper, the average person can go to his local coin dealer and buy some.
The advantages of silver over gold as an inflation hedge are numerous and need to be considered:
1. The silver market is much smaller, and it doesn’t take as much money moving into silver as an investment to move the market up. Silver has outperformed gold dramatically over the last few years, going from $3 an ounce to over $40 an ounce.
2. Silver is also a very important industrial metal with over 3,000 industrial uses.
3. The government has never seized silver, although they have seized gold. If that worries you (it doesn’t worry me much), you would feel safer with silver rather than gold.
4. The government actually has no stockpile of silver to unload. There is now more gold above ground than silver because of the silver industrial usage.
5. I look upon silver as money. Throughout history more silver has been used more for money than gold. Historically, silver coins became the common denominator for money in more places and more times than gold.
If you are wealthy and can afford to buy some gold, be my guest. I think you will do just fine. However, silver will outperform gold about three to one.
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Remember, precious metals are still in a secular bull market but no item goes up in a straight line. Every bull market goes through periodic corrections and whenever any commodity rises in a parabolic fashion, it always undergoes a severe correction. Thus, this is the time to control your emotions and take some money off the table.
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