After I read one of Robert Kiyosaki ‘s books, where he told me that he considers it promising to invest in silver, and recommended investing in it. But at the same time, he reminded that before buying and investing in silver, it is worth conducting your own investigation.
Since I became interested in this issue, I began to read everything about investing in silver or bullion coins. And he even created a topic on one forum to discuss the issue of " investing in silver coins ."
Personally, I came to the conclusion that it makes no sense to invest in silver.
Let me explain why I think so. Firstly, if you buy silver bullion or ordinary silver coins, you will have to immediately pay VAT, and when you want to sell it back at the bank, no one will return VAT to you. The bank will certainly buy the silver from you at much reduced prices.
Moreover, even when you buy silver, whether it be coins or bars, the bank also winds up quite well here.
Here is the simplest example – I wanted to buy silver investment coins " Archistratig Michael " (plus, you don’t need to pay VAT when buying investment coins) their price is 237 USD, at least that’s what the cashier at the bank called. And they buy these coins at a price several times cheaper, namely 175 USD. They wind up 62 hryvnias from above. The cost of silver per gram is about 5.50 USD. now.
Further, Robert recommended buying coins not in terms of their value, but buying ordinary coins with a price as close as possible to the real value of silver on the market.
That is, in this case, it is the purchase of investment coins of the same “Archistratig Michael" that makes at least some sense, but even in this case, their prices are too high and the bank earns 2 hryvnias on each gram.
And he will buy them at the price of scrap, that’s for sure. Plus, if the coins are still somehow damaged – scratches or fingerprints, then most likely the price will be even lower.
Maybe I’m wrong, but I personally came to the conclusion that investing in the purchase of silver bars or coins in the bank does not make sense.
Perhaps, if there are some options where you can buy silver at least at the same price as it really costs now, then yes, it makes sense to buy. But personally, I don’t know about this possibility yet. If anyone knows, I would be grateful if you tell me.