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Time for Scrap Silver to Outshine Gold in 2020
Published Friday 28th February 2020Much is made of silver being gold’s cheaper cousin. The two precious metals are highly similar, yet gold has always been considered the more valuable of the two. But don’t let silver’s apparent cheapness fool you.
Over the last fifty years, scrap silver prices have occasionally reached points of peak undervaluation relative to gold, before prices invariably returned to their long-term averages. As a result, scrap silver has been known to make significant gains, in spite of its apparent low value from time to time. Scrap silver could make you a fortune, if you’re fortunate enough to have any lying around and the price is suddenly right.
Scrap silver could rebound soon
The past half-century has seen scrap gold and silver prices oscillate between the two extremes of either one or the other being significantly under or overvalued relative to the other. Looking at the trend over a long enough period of time, the two metals appear to zigzag in value relative to one another.
The fluctuations in value might be long-term, but the adjustment back to a fair value for both metals can be both sudden and enormously beneficial, depending on which metal you possess at the time and when you choose to sell it.
Fortunately for anyone with a bit of scrap silver tucked away, 2020 is an ideal time to consider selling. Silver is looking poised for a significant price rally, which will lead to scrap silver becoming even more valuable in relation to gold.
Got some silver cutlery gathering dust in a drawer? It could be worth a great deal. Or perhaps there’s an old piece of silver jewellery, some heirloom you’ve been meaning to sell for years? It could be sold, recycled and turned into some quick and easy cash with the help of Scrap Gold UK.
Scrap silver: what’s it worth?
As of late February 2020, 20 grams of 999.0 purity silver is worth as much as £7.16. Just think how much an even larger amount could be worth if you chose to sell with Scrap Gold UK today! Check out what your scrap silver could be worth by checking out our scrap silver calculator.
Since April 2011, silver prices seem to have entered what investors call a secular bear market - this is a period of up to a decade or more in which prices are in a clear downtrend. As of early 2020, silver has halved in value since its great 2011 peak.
But don’t let the apparent low value of silver fool you. While gold has been renowned for its explosive price rallies in the past, scrap silver prices are far more volatile than are those of gold, because of the higher industrial demand for the former. That piece of silver jewellery and any other items of scrap silver you’ve got lying around could become far more valuable than they were last year.
If you’re ready to make a sale of scrap silver today, fill in our seller form. Alternatively, if you wish to discuss a possible sale of scrap gold, don’t hesitate to contact Scrap Gold UK by calling 01902 828 400.
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