Savannah business owner seeing more silver demand now

Diane Bailey

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Savannah business owner seeing more silver demand now

diane_bailey💰Established (100-250k)

about 2 months ago

Key Takeaways

•Anyone else seeing a huge uptick in folks looking at silver and gold lately?
•This past year, though, feels different.
•More of a genuine fear rather than just smart diversification.

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Anyone else seeing a huge uptick in folks looking at silver and gold lately? I've been in the gold IRA game for a while, got about $200k tucked away in various precious metals, mostly gold, but I'm looking at diversifying into more silver bars myself. My tourism business here in Savannah has seen its fair share of ups and downs over the past 15 years, and let me tell you, when the economic winds start blowing cold, people tend to flock to tangible assets. This past year, though, feels different. More of a genuine fear rather than just smart diversification.

I remember back in '08, it was a slow burn, then a sudden panic. Now, it's more like a constant hum of worry about inflation eating away at savings. My clients (and even some of my employees) are asking about gold and silver IRA options, which used to be a niche conversation. I'm talking folks who never even considered it before. We're seeing prices for everything from shrimp to building materials going through the roof down here, and it's making everyone nervous about what their dollars will be worth next year.

I'm personally eyeing some 100 oz silver bars. Thinking it's a good way to beef up the silver side of my portfolio without getting too granular with smaller coins. Plus, the premiums on those tend to be a bit more reasonable. What are y'all's thoughts on the current silver market? Are you seeing similar demand increases, and are you leaning more towards bars or rounds/coins right now? I'm debating whether to pull the trigger on a larger purchase soon or if there's a dip coming.

It's always a balancing act, right? Protecting what you've built while still looking for growth. With inflation hitting hard, I honestly feel more secure knowing a good chunk of my wealth isn't just sitting in devaluing cash. The real question is, how much silver is too much silver?

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5 comments

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Best Answer▲ 10 upvotes

betty_king📊Growing (50-100k)

Hey, that's interesting about Savannah! Definitely seeing more people talking about silver. If you're looking to diversify further, especially with silver bars, make sure you're aware of the different storage options available. Some folks forget about the physical space silver can take up compared to an equivalent value in gold.

You might want to check out some of the resources from the major precious metals dealers – they often have good guides comparing the pros and cons of segregated vs. unsegregated storage, and even things like home safes vs. third-party vaults for larger amounts. Good luck with the diversification!

Comments (5)

patricia_miller📊Growing (50-100k)✓ Verified•about 2 months ago

Totally agree! My local coin shop owner said pretty much the same thing. Last year, it was almost exclusively gold people were asking about, but now there's way more interest in silver. I actually just picked up a few more 1oz silver rounds myself last week. Feels good to stack both! Glad I'm not the only one seeing this trend.

ruth_perez📊Growing (50-100k)•about 2 months ago

Totally! I've been noticing the same thing. I dabble in a bit of numismatics on the side, and the interest in silver coins specifically has gone through the roof compared to last year. Used to be mostly gold bugs, but now everyone wants their hands on some shiny silver. Good to hear it's not just my little corner of the market seeing it!

charles_lewis💎Premium (500k-1m)Real Investor•about 2 months ago

That's interesting! So you're seeing increased demand for both gold AND silver, but you specifically mentioned a "huge uptick" for silver. Is there a particular type of silver product you're seeing more interest in, like coins vs. bars, or even fractional silver?

donna_rogers🏆Advanced (250-500k)Real Investor•about 2 months ago

Interesting to hear about the silver uptick in Savannah! While I totally get the desire to diversify, I'm a bit surprised by the timing. With gold still making gains and silver's industrial demand being a bit volatile, I figured most people would still be prioritizing gold as the primary hedge right now. Maybe it's a local economic thing? Or perhaps folks are just really looking for that lower entry point.