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Silver prices have been steadily increasing over the past couple of years. The price of silver has grown about 84% in 2010 and then up another 20% this year. According to analysts, the value of gold and silver will continue to rise later on. If you are planning on investing on coins, then you definitely must do it now prior to the prices get excessive. The more waiting, the smaller the earnings you get from purchasing silver. If you do not think that the cost of silver is only going to continue to increase in the near future, read this list of some of the explanations why the price of silver is continuously rising.

Reasons Why Silver Prices Are Rising

For decades, central banks have been selling their reserves of silver in order to meet excess demand. It has kept silver prices low for several years it made mining unprofitable. Consequently, now there is a shortage of the mined capacity of silver developing over the next two to four years.

Most of the mined silver is consumed for industrial purposes. Therefore, the majority of the mined silver is consumed quickly instead of being stored. Silver is a previous metal that has a store value quality similar to gold, but it's used being an industrial metal. This gives it a good value in growing industries such as chemicals, computers, and mobile phones.

[http://vgfacebook.com/blogs/viewstory/18780 Silberpreis in Euro] 

Since World War II, the United States government has sold over 5 billion ounces of the precious metal. The U.S. government currently has no reported silver in storage.

The above-ground available stores of gold have by 600% since 1980, while the above-ground available stores of silver have decreased by 90% since 1980.

Silver prices are also rising because starting and operating a mine costs lots of money. A significant silver mine needs requires about tens of millions of dollars (in some cases it might need 100 million dollars) in capital to get going. It takes about Three to five years for any single silver mine to produce a significant amount of silver.

Most of the mined silver did not come from silver mines. It is found while mining for other minerals like zinc, lead, copper, and gold. Therefore, silver isn't the focus of recent investments in the mining sector. Only 30% of mined silver comes from silver mines. They are not many since there are few places that can sustain silver mining.

Silver has countless industrial uses in today's modern economy. It's used in water filtration, wound care, health care, solar energy, mirrored glass, DVDs, mobile phones, smartphones, tablet pc's, and computers. It is also used like a catalyst for chemical reactions to be able to produce products for example plastics.

Silver is the preferred metal by the average investor when the prices of gold are more than $1000 per ounce. When gold prices become higher, silver becomes a good substitute for investment for gold because of its lower cost and it is similar qualities.