For many centuries, silver has been regarded and valued as a precious metal. More abundant than gold and therefore not as costly, silver metal has often functioned as a coinable monetary system. Beyond currency, silver has numerous applications such as jewelry, ornamentation, tableware, water filtration and as an investment in the form of bullion, to name a few. Silver is used industrially in electrical contacts and semi-conductors as it possesses the highest electrical and thermal conductivity of any metal. Other applications include mirrors and window coatings, as well as in photographic film and X-rays. Dilute silver nitrate solutions and other silver compounds are used as disinfectants, added to bandages and wound-dressings, and incorporated into various medical instruments.
Silver, like other precious metals, may be used as an investment. For over four thousand years, it has been regarded as a form of money and store of value. However, although silver is no longer typically used as a legal tender (except in the U.S. state of Utah, where it can be used to pay all debts), some countries mint bullion and collector coins like the American Silver Eagle or the Canadian Silver Maple Leaf. Millions of such coins are purchased as investments each year, along with silver bullion bars of various weights from mints across the world.
The price of silver has risen steeply over the last 3 decades, starting around $7 per troy ounce in 2005 but reaching over $35 per troy ounce in 2011, and currently hovering at around $16 per troy ounce. Not many other financial assets have experienced a tripling in value over the course of 6 years! Compared to gold at $1188 per troy ounce, silver is a great way to add to your investment portfolio in a sustainable manner. Not all of us can buy a one ounce gold bar each week, but an occasional $20 purchase of silver can start to add up over time! Begin building an investment cache for your children or diversify the resources you already have in place for your future.
Metro Pawn & Gun carries a wide range of silver products, including coins both new and old, bullion bars, jewelry, and silverware. Whether you are looking to pawn, sell or purchase, our offers are generous and our prices are reasonable. We invite you to stop in and see how much you can do with silver!
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