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Silver Price.

Silver price

Just like gold or platinum, silver is a precious metal. The price of these precious metals is set daily according to the over-the-counter market, the "spot" price. This price indicates the value of an ounce of silver, between the value of buying and selling on the international market. Unlike the prices of shares quoted on markets such as the NASDAQ, precious metals like silver are constantly traded around the world on the many OTC (over-the-counter) markets. Transactions are carried out directly between sellers and buyers, at an agreed price. There are, however, many different spot prices with sellers and banks both having their own respective methods of calculation.

Gold and silver prices

Silver is not low-end gold.

The price of silver has risen over the last few years, gaining considerable importance in the marketplace: it is a recognised fact that silver today attracts more and more investors. Its recovery is partly due to renewed optimism concerning the future of the global economy, as silver is mainly geared towards the manufacturing sector and all industries that require silver are on the rise, such as the solar energy and electronics markets.
It is better to buy silver coin rather than bullion (the same is also true for gold) to benefit from improved leverage during times of crisis. It is also an alternative to buying gold in order to increase the diversity of an investment portfolio.

Frequently asked questions

Why is the price of VeraCash silver higher than the spot rate?

The rate offered by VeraCash is based on silver coins, unlike most silver sales which relate to the raw material or to bullion.

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Do I have to declare my purchases and sales of precious metals?

The need to declare purchases and sales is dependent on your country’s tax jurisdiction.

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Do I have to pay taxes on purchases and sales of gold and silver?

The sale of gold may be taxed in certain European countries. Please contact your tax office for more information.

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