When people ask the question "Why buy silver now?", what they are really asking for is a list of reasons why silver will increase in value. They want an iron-clad, bullet-proof, set-in-stone list that will always be true and never need revising. Truthfully, I don't have such a list - yet. But I do have my opinions and my reasons for buying silver. Here they are in no particular order:

Why Buy Silver?

  • They are not making any more of it.
    It might be a cliche but it's true. The humans on the planet are increasing. Silver on the planet is not.

  • Silver is consumed.
    Much of the silver that is used industrially is not economically feasible to recover and recycle. So it disappears into landfills, along with all the other trash.

  • Governments all over the world are creating money out of thin air.
    It's unfortunate that the fiat currency we use to assign value to things is being devalued. As the dollar and other paper currencies decrease in value the price of silver will increase.

  • Silver mining costs are increasing.
    In fact, mining operations mine less and less silver per ton as the years go on. So, the energy required to mine silver, per ounce, is increasing. Additionally, oil prices will continue to increase and put further pressure on this situation. Silver prices will have to rise in order for the mines to be run at a profit.

  • More and more uses are being discovered for silver.
    According to David Morgan, "More uses have been discovered and patented for silver than for gold, copper, palladium, nickel, tin, zinc, lead, and platinum combined." That means more industrial uses of silver moving forward. More industrial uses means more demand and higher prices.

  • Silver in your possession, doesn't have any counter-party risk.
    If you own a stock and the company goes out of business you lose - big time. If you buy bonds and the entity you bought the bonds from defaults you lose. If you have your savings in a bank and there is a bank "holiday" you can't get your money, etc, etc. But silver, in your possession, is just yours. No matter what happens to the economy, the financial system, banks, companies or countries. Silver in your possession is yours - period.

  • Silver is great for bartering.
    I'm a "closet" survivalist. I don't usually admit it but I have grab-and-go bag, a gun, a security system. If any kind of catastrophe occurs, I have my silver nearby. I'm sure, if needed, I could sell it or even barter with it to get essential items.

India is buying more silver jewelry. India is buying more silver in the form of jewelry.

  • India is buying more silver.
    People in India have always held precious metals in high regard. In 2013, Indian government repeatedly raised import duties and imposed other restrictions on gold. So what do the Indian people do? They buy more silver instead! Smart people!

  • I have a history with silver.
    I've made a lot of money (to a 10 year old paper boy) with junk silver coins. So I have a natural liking for silver bullion.

  • Silver coins are just plain pretty.
    Uncirculated American silver eagles are really nice looking. Proof-quality silver rounds are just stunning.

  • So, you ask, "Why buy silver?" Just look at the "off the top of my head" list above. There are more reasons I'm sure. I'll create a comprehensive list when I write my book. Silver is savings...