What makes silver different?
Like gold, silver has been used as a store of wealth and a medium of exchange for centuries. In fact, its use in coins dates back to around 600BC. Silver offers a great way to diversify a portfolio, but thanks to its unique chemical properties, it has a whole range of diverse uses.
With the highest electrical and thermal conductivity of any metal, over 50% is used industrially – mainly in electronics. But it’s also used in solar panels, water filtration – and even in medicine, thanks to its antibacterial properties.
Interesting facts about silver
- Silver is the best reflector of light, which is why it’s often used to make mirrors
- Silver has antimicrobial properties. This means nanoparticles of silver can be woven into clothing to prevent bacteria from building up on deposits of sweat and oils, according to the Royal Society of Chemistry (RSC)
- More patents have been issued in relation to silver than for all other metals combined
- Silver has long been known for its industrial uses, not least its application in traditional film photography, hence ‘the silver screen’. Today it is found in a wide range of products, from mobile phones and batteries to solder, switches and medical applications
- To date, some 1.4 billion kg of silver have been mined throughout human history
- Using the same estimates, there is roughly 7.5 trillion kg of silver throughout the earth’s crust
How much will it cost?
You can purchase any amount of silver you like, in 0.001oz (0.0311 gram) units. The price you pay is the market spot price at the time of your purchase and a premium, the minimum order value is just £20.
Buy Premium: 0.33% + VAT
Storage Rate: 0.5% + VAT
Sell Premium: 1.00%
*The storage fee of 0.5% + VAT per annum is based on the average daily value of your total metal holding.
What you need to know
|Storage location||The Royal Mint|
|Storage management||The Royal Mint|
|Measurement level||0.001 Ounces|
|UK Tax status*|