After gold, the Australians are putting efforts to further diversify their investment portfolios by investing in silver. The idea is beneficial because all the metal coins and bars (gold and silver as well) are in fact a great investment option for your portfolio. The trend is rising these days and here are some of the most common reasons why people in Australia have shown interest in making investments in silver coins and bars.
1- Some Coins Are Considered a Legal Tender
Some metal coins, including silver ones, are still considered a legal tender in Australia. Just like the Australian Gold Nugget, the Australian Silver Kookaburra also has a legal tender status in the country. Both these coins are produced by the Perth Mint. Thus, people who are genuinely interested in investing in metal coins for this purpose are also concerned about the fluctuating shifts in the financial markets of today, so they go for silver coins more than the gold ones.
2- More Active Trading in the Overseas
The overseas market for buying and selling silver coins and bars is more active than for buying and selling gold coins and bars. There are a number of traders, dealers, individuals and even jewellers who are trading silver these days. Another reason is that the premium for investing in silver coins is higher than investing in gold ones. This is because of the difference between the manufacturing processes. Owing to the higher premium, you can easily find an interested buyer for silver coins.
3- More Variety
Most of the people who are new to investing in silver might not know, but there is a large variety of silver coins available. This means investors who have the necessary knowledge are actually enjoying big gains on their purchases of these coins. If only they keep themselves abreast with the current market trends. Another reason why people feel more inclined to invest in silver coins is that these coins have more intricate designs. But that’s just a matter of individual preference.
Silver coins and bars are available in variable weights and sizes, this provides an investor the flexibility to decide the weight and size of silver he or she wants to invest in. On the other hand, gold bars and coins are usually available in heavier weights. This might be suitable for large scale investors, but it’s actually difficult to break down 1kg gold bar into smaller quantities if an ordinary investor wants to. You can visit goldbullionaustralia.com.au if you intend to invest in silver coins or bars and diversify your investment portfolio.
Silver coins are also classified as bullion coins, and another reason why they’ve become so popular in Australia is that they’re free of government standard sales tax or GST. This makes an investment in silver even more remarkable.
Investing in silver not only adds value to your diversified investment portfolio, but also provides you the ease of trading your silver coins and bars more easily than gold. Moreover, if you choose to invest in some specific silver coins you’ll benefit from their legal tender status in the country.