My decision to buy silver bullion

After reading Rich Dad’s Increase Your Financial IQ by Robert Kiyosaki, I decided to do some research into silver.

I find that silver is a very attractive commodity for investment.  The price is still affordable for most people, including me.

I know that there are several ways of investing in silver, such as Exchanged Traded Funds, open a silver account with the bank that will use the money to buy the silver, and buy physical silver coins or silver bullion.

After considering the pros and cons of each method, I decided to use all the three approaches.  Since I do not have so much money for investment, I decided on buying silver bullion.

The problem is that many mints do not accept orders from us.  They have their own retailers.

Another problem is that I stay in Singapore, not United States.

I am very concern with the price of shipping and the insurance cost.  I cannot afford to lose the items in transit if the silver bullions are not insured.

After checking online, I decided to buy silver bullion from Scottsdale Silver.  I choose the 10 Troy Ounce Academy Silver bars instead of coins.

The price of silver bars follow the international silver spot rate.  At the point of purchase, the spot rate of silver is about US$30.  I like the feel of physical silver. I have never seen a single silver bar in my life before.

I think my deceased grandparents would be happy if they were still alive.  They belonged to the generation which distrusted banks, and trusted only gold and silver.  However, they also belonged to the poor peasant group who did not even have enough to eat in their youth.

Scottsdale Silver will send the silver bars to my residence in Singapore.   Just too bad I do not stay in United States.  The shipping is free if the purchase is over USD500 if you are staying in United States.  As for me, shipping is still not free even if the purchase is over a thousand dollars.

Is silver a good investment?

In the long term, it is definitely a good investment. The reason is that silver is a component for industrial sector.
The laptop, TV, cell phone and many other products contain silver.  There is a demand of silver from the manufacturers.

The demand of silver for investors is also increasing.

Most of us see the declining value of the Dollar, and decide to hedge against the loss of purchasing power by buying commodities.

Silver is still affordable, unlike the price of gold.  The price of gold has made many investors rich.  However, that makes it out of reach for many of us.

Is silver a good investment in the short term?  It is debatable. There might be a short period of correction, since the price of silver is escalating rapidly.

I just hope that I can catch the price to make the next purchase.

I await eagerly for the shipment of silver to arrive.

If you are staying in the United States, I definitely advise you to invest in a few silver coins and silver bars.
It does not cost a lot to invest in one Troy ounce of silver.

Scottsdale Silver has a free shipping offer for a 1 Troy ounce silver bar.  It costs less than US$35 at this moment.  Too bad the offer does not apply to international market.

I have to foot the bill of US$45 for the shipping and insurance.  This amount of money is more than enough to get an extra ounce of silver.