Did you know that people have been wearing jewelry for centuries to dress up their look? Are you considering buying more jewelry, but aren’t sure whether to go with silver vs gold?
In this article, explore which is the better investment and why? Read on to learn what to pick when you’re not just in it for the look, but for the long-term investment for a profit.
During economic conditions, it’s a good idea to have an investment in gold or silver. Precious metals are starting to gain traction for many. This is due to them realizing that with the unpredictability of the economy, gold and silver are important to have.
Throughout the years, gold and silver have beat the stock market in value. While both gold and silver are great investments, gold tends to be worth more. They’re both good investments during a crisis, but when the market is doing well, they’re not as profitable to invest in.
Is Silver Pricing More Volatile?
Whether you’re looking at silver bracelets or necklaces, keep in mind that silver has a lower overall price than gold. Did you know that more silver is produced each year than gold?
It’s important to note that on good days, the price of silver will rise higher than gold, but on its off days, it’ll be worth less than gold. If you decide to invest in silver, ensure that you hold onto it until the price rises.
Should You Invest in Jewelry?
Besides comparing silver vs gold, you must decide whether you’ll want to invest in jewelry or not. It’s important to note that since jewelry isn’t as hardy as coins or bullion, it’s calculated by carats.
While there’s a higher premium to buy jewelry, it doesn’t mean that amount will be the same later on. If it’s a crisis, you’ll want to hold onto your jewelry and not sell it.
When doing a comparison of sterling silver vs gold, you’ll notice that they’re both liquid assets. You can buy and sell silver and gold online at any time.
When you’re ready to sell them, you can place them on eBay, take them to a jewelry shop, pawnshop, or other stores. Gold is more liquid than silver since it’s in high demand.
How to Safely Store Your Investment
When you have your investment, it’s important that you store it properly to preserve it. First, you’ll want to avoid humidity and extreme temperatures.
Avoid attics or closets. Make sure that it’s out of direct sunlight and at room temperature. Make sure that the location you choose is clean as well.
Store Them Separately
You’ll want to keep your jewelry separate, especially if they have any diamonds. Diamonds that are capable of knocking into each other can cause chips or scratches.
You’ll also want to keep gemstones separate as well. Never have your gemstones stacking on top of each other. Keep them separate in a zip lock bag or another separator. Buy a jewelry box that has separate spaces for necklaces, rings, earrings, and bracelets.
For your silver jewelry, you’ll want to wrap them into a silver cloth. You can store silver jewelry together.
You’ll want to ensure that the cloth bag keeps oxygen out. You can buy silver cloth bags online or at a jewelry store.
For valuable items, place them in a safe with a combination that only you know. This will help protect your jewelry from the elements and help to prevent theft. Remember that any difference in the temperature can tarnish your jewelry.
Whether it’s gold, silver, or costume jewelry, you’ll want to store them in a clean location. The mixing of certain jewelry can lead to corrosion in the pieces. Never throw your clean jewelry into a dusty box.
Keep the environment clean and fresh. Ensure that you vacuum out your jewelry box on a routine basis.
To prevent your silver jewelry from tarnishing, keep it away from other jewelry, and ensure it stays dry. Wrap your clean silver jewelry. Place it in a drawer separate from other jewelry.
Investment for the Long-Term
While it might be tempting to hold onto your jewelry for the long-term, stocks tend to perform better than gold in these cases. When compared to silver, the margin of return for stocks is much higher.
The Price of Silver
Silver costs less than gold so can be seen as a safer investment. You can buy quantities of silver for less, and not have to worry about your investment as much as gold.
Silver is convenient since you can buy it for less and sell it fast. The demand for silver is starting to rise in the industry, but the price has gone down over the years.
Since the price of silver is going down, so is the supply. This can lead to a higher demand in years to come. Keep in mind that silver is volatile, so while you might think it’s going to do well, that can easily change.
Investors tend to buy gold since it’s a safe investment during troubling times in the economy. The demand of gold keeps rising and performs well in the face of inflation.
It still has its risks. For example, investment classes outperform gold by a good margin. If the economy improves, then gold will not be as profitable.
Silver vs Gold Jewelry as an Investment
Now that you’ve explored silver vs gold jewelry as an investment, you should have a better idea if it’s right for you. Want to read more beauty and health tips? For everything from protecting your eyes from harmful emissions to fashion marketing tips, check out our other articles today!