Silver has been considered a precious element for 6000 years. It was first used as a currency in 700 B.C. and has had a role as a trading metal in nearly every ancient and modern culture. From the drachma of the ancient Greeks, which contained an eighth of an ounce of silver to the Roman denarius and the British pound sterling, which designated a specific weight amount of the element, silver has long held a special place as a store of value.
Today, its intrinsic value persists. It is considered a secure and affordable investment and has earned a place in the portfolios of many different types of investors for that reason. For example, Individual Retirement Account (IRA) participants may choose to include silver bullion coins and bars in their portfolio, provided that they are of a fineness of at least 99.9% silver.
Relatively insulated from the volatility of the markets, silver’s value has been proven as a precious metal and time-tested commodity.