Historic silver prices ahead offer ripe opportunity to cash in on selling silver

It’s been a wild year for the price of silver. In February, the reddit community /wallstreetbets, best known for the Gamestop saga, tried to replicate the same kind of short-selling with silver. The metal saw its spot price vault as high as $30.03 an ounce on Feb. 1 from $25 on January 28, and shares of silver miners surged as well.

The after-effect of this surge didn’t give the world the same heart-stopping drama of the Gamestop stock, but it did swell the demand for silver at such a level that you might still find it difficult to find bullion anywhere.

Also, 2021 gave the silver price momentum to rocket and then dip, increase and then decrease, propelling a volatility that is poised to raise the price month over month.

“I expect silver to do even better than gold this year,” notes precious-metal experts Lobbo Tigre in Kitco. “It has not yet risen as much as gold and it always outperforms gold by the end of a monetary-metals bull market.”

As another expert in silver remarked recently, Chris Marcus can see the silver price leaping over $60 and perhaps even triple digits before coming down again. “That’s what happen when you stuff a beach ball under water for decades while hyperinflating currency at same time,” he said.

What the silver controversy last month caused was a sharp uptick in new silver buyers who might not have glanced twice at their old silver coins but saw the headlines caused by the reddit community and wanted to join the fray.

But such a blind rush to purchase the precious metal may have turned attention the wrong way. Instead, what people should be doing is looking for items they own that contain the metal so they can start to think about selling silver and getting immediate cash influx.

After all, as we wrote in a previous post, 1.8 million people in Canada are officially categorized as unemployed, which means they want a job but can't find one. Also, there are still 1.3 million workers affected by the COVID-19 economic shutdown, which means they are employed but working far fewer hours than they'd like to or normally do.

Turning your silver jewellery and silver coins into cash could lead to an investment into purchasing real silver bullion, which interested buyers can do at Muzeum thanks to partner business Global Bullion Suppliers.

Selling silver first requires you to look around your home to find items containing silver that could net you a decent return. From silver tea sets to silverware to older silver coins, many goods around your house may just be gathering dust.

Some antique items may be made of another material, such as wood, but could contain portions of silver within them.

If you are unsure whether or not it’s made of precious metal, take advantage of the FREE evaluation services available at Muzeum Gold and Silver, which recently moved to the heart of Yorkville in Toronto.

Visit this link for more information on the jewellery we purchase on a daily basis.

Muzeum’s VP of operations, Daniel Ilmer, in a post we published on making extra money by selling gold or silver, cited the example of a silver dollar from Canada, dated around 1967. It will be worth a minimum of $14 apiece, with the potential to net much more per coin if the seller has something more collectible such as silver dollars dated 1946, 1947, 1948, which will always be worth more than their silver.

If you have silver coins lying around in a shoebox, now is the right time to unearth them and bring them to a reputable buyer to get a fair evaluation.

Same with silver jewellery that isn’t being worn (who’s going out during a pandemic?!). After all, silver or gold jewellery doesn’t have the same investment value of a silver bullion bar, which isn’t affected by tarnished quality or accidental breaking. It’s a more liquid asset and can sell for exactly what the spot silver price is at during the moment of sale, while silver jewellery and silver coins are affected by the condition, the amount of silver within them, and other factors.

It seems like investing in silver is a wise move in 2021. The price of silver is forecast to increase, as this Seeking Alpha post wrote: “While industrial demand for silver will likely remain subdued for some time due to the sustained damage to the global economy, this will be more than offset by monetary demand going forward.

For a free bullion consultation – schedule online with Global Bullionor contact Muzeum’s customer service team at 1 800 746 0902 , or contact the Muzeum team today.