Silver Is Sticky Money
Streetwise Reports (2/23/21) Silver Stock Investor editor Peter Krauth discusses silver s long history as a currency and recommends a way to avoid paying large premiums when buying silver.
Many don t realize, but silver is considered to have been the first metal to serve as currency.
Could silver one day regain its role as money? Perhaps. It s widely accepted that gold was used as money by Lydian merchants around 550 BC, roughly 2,500 years ago.
But even before that was silver, more than 4,000 years ago in ancient Greece. At the time, silver ingots were used as payment in transactions of trade. Back when Athens oversaw an empire, its silver coin was the tetradrachm.
February 2, 2021
With silver now the target of Reddit’s notorious batch of WallSteetBets traders, silver exchange traded funds are getting another moment to shine.
That includes the
Sprott Physical Silver Trust (NYSEArca: PSLV), but PSLV isn’t an ETF. Investors considering the trust as a way of playing along with WallStreetBets should understand how the product works before jumping in.
PSLV “currently holds 93,208,680 ounces of silver (as of Feb 1). PSLV provides investors with exposure to physical silver at a time when demand is high, causing excessive premiums for coins and bars,” according to Sprott.
ETFs Versus Closed-End Funds
PSLV is a closed-end fund that lets investors redeem large blocks of shares in exchange for delivery of silver bullion.