What makes gold and silver valuable?
Gold and silver are precious metals which are elemental metals that occur naturally and have high economic value. In some cases, gold and silver can be used for currency, like coinage and bullions. Because gold and silver have a high economic value, in times of economic distress or prior to standardized currency systems, precious metals have been traded or melted down for value.
In other cases, these precious metals are often used in technology, industry, and infrastructure making gold and silver extremely valuable to many businesses. Because of that, gold and silver materials retain high value and purchasing power, not just through time, but also globally.
What makes gold more valuable than silver?
The most well-known precious metals are gold and silver however, there’s a sense that gold is more valuable than silver — and with good reason.
Gold has a sort of indefinable quality about it. There’s its luster, which catches the light easily. There’s its luminosity, which it seems to retain no longer how much time goes by. And there’s also the fact that gold tends to retain its value incredibly well.
In the case of gold coins and bullions, their value can be worth far more than their buying power, especially if they happen to be among some of the more rare coins and bars out there!
Gold Is Rare
Gold is also more valuable than silver because it is available in much smaller quantities than silver. It’s estimated that all the gold that has been mined throughout history and is yet to be mined can fit in just over three Olympic-sized swimming pools at a total of 244,000 metric tons. Compare that to silver, which has an estimated 1.74 million metric tons that has been mined to date — not including what is yet to still be mined.
How does silver compare to gold in worth?
Gold may be more valuable, but that’s not to say silver doesn’t hold worth. Silver is a major player in the precious metals game and has been since at least the 12th century. When silver first appeared on the scene, it was used for commerce. Over time, silver was commonly found in everyday items like flatware, vases, jewelry, decorative accents, coins, paper clips, hairbrushes, surgical instruments, instruments, and more.
Will silver go up in value?
Today, more than half of the silver that’s produced or purchased is used in industrial applications, such as electrical systems, electronics, autos, and solar power — so just about everything! Because of the number of systems reliant on silver, the price of silver (and its value) is continuing to rise. So, if you’re wondering whether silver will go up in value, the answer is yes! However, it is not likely that silver will become more valuable than gold in the near future.
How much can I sell my silver and gold for?
At Samuelson’s Buyers, we buy and sell gold, as well as silver and are committed to providing the fairest value. We can tell you more about what pieces are worth, the value of silver, the value of gold, and what our expectations are regarding the marketplace. As of February 2022, gold commands $61.24 per gram, whereas a gram of silver commands $0.79 — though those numbers can fluctuate depending on the market.
We can also provide estimates on any pieces of jewelry, flatware, coins, bullions and more if you’re looking to sell. Contact us by filling out the form here or calling 410-837-0290 to get started. No matter how you slice it, an investment in gold or silver is almost always a smart one — whether you choose to sell now or later.
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