The United States boasts considerable silver reserves as well as a developed market for trading the precious metal. Coupled with its fairly reliable economy, the stability and high availability of USD, and the multitude of investment options the United States presents, there are many reasons to invest in silver in the United States
The Economy of the United States
The United States economy is currently in a downswing with the potential for major dips over the next few years due to the Covid-19 pandemic and various political issues. Due to the stability of silver in the United States and generally around the globe, silver has become a hot commodity in the US for storing wealth during an uncertain time.
While the economy is projected to eventually recover, the short-term market is currently fairly volatile, and silver purchases should be made with the long-term recovery in mind.
The US economy is a mixed economy. Most of the country's GDP earnings come from various real estate and insurance sectors, but there is also a large contribution by the financial advisory and service sector.
Despite not relying on silver, the US does have a large silver stockpile, a stable silver price that tends to climb regularly, and tons of liquidity in its silver market.
This makes silver a great option for holding wealth during economic downturns, and for international investors, it means there are plenty of opportunities related to all silver formats.
The Currency of the United States
The United States Dollar, or USD for short, was first minted in 1792. While it was originally backed by the gold standard, it is now a simple fiat currency. The USD is currently the most traded currency on the planet, and it's among the most valuable currencies in circulation.
Buying Silver in USD
Like gold, there is significant mining and manufacturing of silver in the United States. States in the west, like Nevada, boast large reserves of silver bullion, and there are a number of silver mines throughout the country. The United States mint also manufactures the silver American Eagle coin, which has a legal tender value and is backed by the United States Dollar. Silver bullion coins and bars are available from both government and private mints. In addition to physical silver, ETFs are also available on the US stock exchange and allow investors to purchase 'paper silver' if preferred.