Although if it is to be used as a store of wealth, or a form of
money, which I think it will again, and in fact already has by some
like you and me, the price will appreciate considerably.
The thing I like about Silver is its lower denomination, which
offers an easy source of currency at lower price multiples, ideal
for purchasing daily provisions and such. Hence why I have most of
my allocation in Silver rounds American eagles and Silver
Brtannias.
Silver was always used as currency and its name is the same for
money in many countries, The
poundwas a unit of account in
Anglo-Saxon
England
,equal to 240 silver
penniesand equivalent to one
pound weightof silver. It evolved into the modern English
currency
,the
pound sterling.
The drawback for us in the UK is we have to pay VAT (Value Added
Tax) on silver purchases. Although that has recently reduced from
17.5% to 15%. it has prevented people here using it as a hedge
against inflation or as a store of wealth previously, but not so
much now. However I feel the appreciation we could see in Silver
far outpaces any such premium we have to pay in VAT, if indeed it
does become used as currency again and is not confiscated.
Posted by hornsant on 16th of Feb 2009 at 08:15 am
You are right about silver, in Chile when you say cash you
actualy say silver -
plata-The chinese have always used the Silver standard
instead of gold and the increasing involvment of China in the
global economy will add weight to Silver.
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Thats true!
physical gold
Posted by saturn6 on 16th of Feb 2009 at 04:07 am
Although if it is to be used as a store of wealth, or a form of money, which I think it will again, and in fact already has by some like you and me, the price will appreciate considerably.
The thing I like about Silver is its lower denomination, which offers an easy source of currency at lower price multiples, ideal for purchasing daily provisions and such. Hence why I have most of my allocation in Silver rounds American eagles and Silver Brtannias.
Silver was always used as currency and its name is the same for money in many countries, The poundwas a unit of account in Anglo-Saxon England ,equal to 240 silver penniesand equivalent to one pound weight of silver. It evolved into the modern English currency ,the pound sterling .
The drawback for us in the UK is we have to pay VAT (Value Added Tax) on silver purchases. Although that has recently reduced from 17.5% to 15%. it has prevented people here using it as a hedge against inflation or as a store of wealth previously, but not so much now. However I feel the appreciation we could see in Silver far outpaces any such premium we have to pay in VAT, if indeed it does become used as currency again and is not confiscated.
You are right about silver,
Posted by hornsant on 16th of Feb 2009 at 08:15 am
You are right about silver, in Chile when you say cash you actualy say silver - plata-The chinese have always used the Silver standard instead of gold and the increasing involvment of China in the global economy will add weight to Silver.