I recently picked up a tube of Perth Mint Silver Kangaroo Coins as part of my plan to hold a portion of my family’s wealth in tangible assets. I have collected coins since I was a kid and I still love the fun and excitement of adding to the collection over time. If you feel the same or just want to learn more about coins and precious metals, then read on.
But first, my disclaimer: this post contains affiliate links from my most popular financial wealth building tools where the blog may receive a small commission on any sales from Silver Gold Bull, EQ Bank, Questrade and Tangerine.
Why Buy Silver?
Silver is a tangible asset that is used in industry. Silver is in just about everything from iPhones to solar panels to cars. The Green Revolution needs lots of silver so I think the metal has great long term industrial demand.
Silver also has a history as a monetary metal going back thousands of years. I have a few ancient Roman coins from 2000 years ago and they are made of silver.
Silver is also know as the “poor man’s gold” because everyday people have held the metal as a store of value in a similar fashion to gold.
Before 1968 in Canada and 1964 in the US, silver literally was money. Our coins were minted with 80% to 90% silver.
Since then, silver has appreciated approximately 20x in value. A $1 face value in those old coins is worth about $20 today.
Check out Top 10 Silver Bullion Coins
Where to Buy Silver?
We buy our precious metals from Silver Gold Bull because they price match and offer fast, insured, delivery. But you can usually find high quality pure silver (9999 fine) at your local coin shops and bullion exchanges.
How Much Silver Should People Own?
This is a personal question that’s dependant on individual financial circumstances but given where we are in terms of monetary debasement and increasing financialization of the economy I personally feel better owning a couple hundred ounces of silver and at least 20 ounces of gold.
It’s important to note that owning physical gold and silver is not a get rich quick move. In fact prices for both metals can be quite volatile. So I wouldn’t go all-in on anything and that includes precious metals.
That said, if you understand what precious metals are and how they performed historically then they are definitely worth their weight as an insurance policy for a balanced and diversified portfolio of financial assets.
Save, Invest, Build Wealth and Prosper
In case you’re wondering here’s where we park our money and some financial services that we use:
For our precious metals we use Silver Gold Bull because they price match and offer fast, insured, delivery.
We use Tangerine for our daily banking because they offer incredible products and no-fee banking.
For our Savings we use the EQ Bank Savings Plus Account because we need to make highest return possible on our cash savings. Never heard of it? Click the link to check out my EQ Bank Savings Plus Account Review.
For investing we use TD Waterhouse (for legacy investments) and Questrade because it offers incredible value with low cost stock purchases and free ETF purchases. If you haven’t done so already, check out my Questrade Review to see why it’s the best deal around. Get $50 in Free Trades when you signup for Questrade through this link.
Cheers and thanks for reading this post on Perth Mint Silver Kangaroo Coins.