Investing in silver bullion can be an effective addition to any investment portfolio. The white metal’s price tends to move in tandem with gold, meaning that investors can potentially see a larger percentage gain if the prices of both rise at the same time. However, it’s important to understand how to properly store silver bullion in order to preserve its value over the long term. Storing your silver investments can seem intimidating, but it doesn’t have to be difficult when you have the right information at hand.
Silver has long been a trusted form of wealth preservation and an excellent way to diversify retirement portfolios. As a precious metal, silver offers several unique benefits over other traditional investments such as stocks and real estate. As a hard asset, silver retains its purchasing power over time, providing an effective hedge against currency depreciation. It also has many industrial applications, making it a valuable component of the global economy.
These characteristics have made silver an increasingly popular asset for investors in a range of industries. However, like any investment, there are some risks associated with investing in silver. To avoid getting ripped off by unscrupulous dealers, you should always seek reputable companies that are regulated by federal and state regulators. This can be done by searching for a company with a reputation for honest dealings and an established history of customer satisfaction.
The Commodity Futures Trading Commission (CFTC) and 27 states that are members of the North American Securities Administrators Association (NASAA) have filed a joint civil enforcement action against a silver dealer. According to the complaint, the defendants fraudulently solicited approximately $68 million in customer funds from more than 450 customers nationwide. The complaint alleges that the defendants steered over 97 percent of these investments into silver coins that were grossly overpriced.
Moreover, the defendants misled customers about their markups and commissions. They charged average markups of 51 to 71 percent on the silver coins, significantly higher than the amounts they represented in their customer agreements.
While the CFTC and NASAA have filed this action, it is just one of many high-profile cases that have occurred against precious metals scammers. These types of scams can be difficult to spot because they often target elderly investors who are vulnerable to being taken advantage of.
Fortunately, the team at Advantage Gold is committed to helping individuals build prosperity through precious metals by offering honest advice and quality products. We specialize in a range of retirement planning services, including silver IRA rollovers. These are self-directed IRA accounts that give you the freedom to invest in any type of precious metals, including silver coins and bars. Get in touch with our friendly experts today to learn more about how a silver IRA rollover can improve your investment portfolio. We offer competitive pricing and industry-leading service to help you secure your financial future.
