2017 – The Year of Silver

The Royal Canadian Mint has created a new set of coins to celebrate the 150th birthday of Canada. On this special event, the mint has decided to release several collector coins for 2017. Among the latest coins is the 2017 Proof Silver Dollar, 2017 Classic Canadian Coin set, 2017 Fine Silver Coin (Maple Leaves and Grizzly Bear), and the 2017 $10 Fine Silver Coin Series.

Excited with the news and planning to invest in silver coins? Here are a few reasons why investing in silver can be profitable in 2017:-

1. Supply of Silver in China

Silver inventories have seen a major fall since 2013 according to the Shanghai Stock Exchange. Once the supply has been depleted, silver metal will see an increased value due to demand by major economies.
Also, with the launch of China’s “One Belt One Road” project in 2014, the country had started stacking up on base metals to produce the largest infrastructure in the world. This had led to a depletion of silver reserves in China and started pushing demand for silver higher internationally.

2. Trump Presidency

Following the Trump Presidency, silver was trading at $16.28 which showed an upward trend of $0.09 (+0.56%). Year-to-date value has risen by 7.74%. The reason is the removal of uncertainty. Now that things have stabilized, the value of precious metals (silver included) has started to steadily climb.

3. Increasing Industrial Usages

Demand for industrial silver is also increasing. About 70% of silver is destined for industrial applications and other renewable energy products. Industrial usages of silver account for almost half of the silver produced worldwide. Most silver today is used in brazing alloys, solder, dentistry, batteries, LED chips, glass coatings, nuclear reactors, medicine, photovoltaic energy, photography, semiconductors, RFID chips, water purification, touch screens, wood preservatives and numerous other industrial usages. US, Canada, China, India, Japan, South Korea, Germany and Russia have been ranked the top countries with industrial usages for silver.

2017 is already proving to be an exciting year and the rising prices for silver will be a part of that.

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