How much is your silver worth?

RON PRINGLE

Co-Founder, Beau Nash Bath

When I was growing up, my parents gave me an antique silver item for every birthday and Christmas. At the time, I’m not sure I truly appreciated the gifts but as the years passed, my interest grew in particular for useful silver that can be used every day and not simply stored under the bed and brought out for special occasions.

Unbeknownst to me at the time, they were also teaching me to invest in a very profitable commodity. My Georgian spoons and forks have multiplied probably tenfold. The real value however has been the stories they have witnessed across a dozen homes and nearly the same number of countries across the globe.

Since the pandemic, the price of silver has increased significantly, reaching levels not seen since 2013. As of April 2023, the spot price of silver sits at over £20 per ounce, a remarkable increase from the sub-£10 prices seen just a few years ago. While there are several factors driving this price surge, there are a few key factors that stand out.

Firstly, the global economy has been in a state of flux over the past few years. In times of economic instability, investors seek out safe-haven assets like gold and silver, which are seen as a store of value. This has led to increased demand for silver, driving up its price.

Secondly, the demand for silver has been boosted by the rise of electric vehicles and renewable energy. Silver is a key component in many electronic devices, including solar panels and batteries, and as these technologies become more popular, the demand for silver is likely to continue to increase, which in turn drives up its price.

Finally, the supply of silver has been constrained in recent years. Silver is a byproduct of other mining operations, meaning that production is largely determined by demand for other metals like gold and copper. In recent years, demand for these metals has been relatively low, leading to lower levels of silver production. This has tightened the supply of silver, contributing to its price surge.

While it is difficult to predict exactly how long this price surge will continue, it seems likely that silver will continue to be a valuable commodity in the near term.

Email us for free silver valuations. n beaunashbath.com; ron@beaunashbath.com; 01225 334234 @beaunashbath

Monday 10th April - Friday 30th June 2023

9b Margarets Buildings, Bath, BA1 2LP 01225 319197

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