The silver price (spot price of silver) is normally quoted in U.S. Dollars (USD) and tends to go up when the USD depreciates (weakens). One of the reasons, although not always the case, is because gold and silver prices tend to move in the same direction. It’s no secret after all that gold tends to increase in price when the USD depreciates. In addition, silver offers a real alternative to the USD, which consists of non-redeemable paper notes (fiat currency). Silver is money with intrinsic value and can be used as a currency or medium of exchange. In fact, silver has its own currency code (XAG) which indicates that it can be used as a currency or medium of exchange. If you don’t believe us, be sure to google ‘silver currency code.’
Given the virtually uncontrolled “quantitative easing” (a.k.a. currency printing) in the U.S., it’s good to know that one can hedge/protect yourself against USD weakness by investing in or by owning silver, especially physical silver in the form of silver bullion coins (American Silver Eagles, Canadian Silver Maple Leafs, Mexican Silver Libertads, Chinese Silver Pandas, Australian Silver Kookaburras, Australian Silver Kangaroos, British Silver Britannia and Austrian Silver Vienna Philharmonics). Make no mistake; the day the U.S. Dollar dies, it will drag a whole string of fiat currencies along with it, including the South African Rand (ZAR). When that day arrives, those not having silver or gold to fall back on, will most definitely have a tough time protecting their currency’s worth.