Mr. Warren Buffett bought about 130 million ounces of silver with the Berkshire Hathaway company. He is now the second wealthiest man in the world. He is a great investor who loves to start up with capital. The Berkshire Hathaway company makes up of most of his earnings. Which is about $31 billion dollars. Mr. Warren Buffett started off with $100,000 dollars about 42 years ago. Now, Mr. Buffett is worth $21 billion dollars now.
In January 28th, Berkshire Hathaway company was in a class action lawsuit when they decided to buy the silver. In the market today, silver is now a short supply to find. While gold is older than silver. Later on, in the future of silver will decrease because of so many miners are digging for it in the mines. Do we think silver will rise because of supply and demand? When comparing gold and silver they are more valuable together.
When the United States was first developing country they passed the Coinage Act of 1792, which was for the mint of silver and gold money. The U.S. mint was developed for money. If you look at how gold is consumed in the United States and how it is not like silver. Which silver is known for being in the mines? Silver grew from 455.5 million ounces to 798.9 million ounces in 1997. Silver became 1.2 billion ounces in nine years.
When President Franklin Roosevelt was in office in 1933, the Old U.S. gold coins were encompassed in the mines which served as money. Mr. Warren Buffett says “If you wanted to invest in gold and silver that does not mean you are rich”. He warned not to invest in all types of metals. You can use gold and silver to put money in the banks. Silver is not cheap to invest in but you can determine the choice of investing in it yourself.