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| Above, a 2023 American Silver Eagle. Photo by Armand Vaquer. |
The current spot price or silver is at $21.53 toz, according to Monex Live Silver Spot Price.
This is actually good if one is buying. Bargains can be had since dealers base their prices on the current spot price plus their markups (profit, shipping & handling). Just shop around for the better deals, they're out there.
Investors are looking for a "safe haven" in gold and silver as a hedge against inflation. Since gold's spot price (per Monex) is $1,835.00 toz, silver as an alternative is much more affordable.
MarketWatch (a Dow Jones company) has an article on this.
They begin with:
NORWALK, Conn. - Feb. 13, 2023 - PRLog -- Precious metals are a safe-haven investment when the stock market and other investments are in a down cycle. Many financial advisors recommend holding at least 10% of your retirement portfolio in a stable and trusted investment like precious metals.
Sovereign governments around the world issue coins minted from precious metals. These coins are primarily intended for investors of silver and gold bullion.
Holding precious metals as part of your portfolio acts as a stable hedge against a recession, or worse. Historically, gold and silver have held their buying power through previous recessions and periods of high inflation.
This year is the 37th year that the American Eagle coin series has been available from the US Mint. These coins have been minted annually since 1986.
The 2023 1 oz Gold American Eagle is the premier bullion coin from the US Mint and it has been minted for 37 years.
To read more, go here.
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