Only 11% of Poles have ever bought investment silver

So far, only 11% of Poles have ever bought investment silver. Typically, men and residents of two types of cities invest in this precious metal: those above 500 thousand inhabitants and those between 50-99 thousand inhabitants. Most owners of investment silver live in southwestern Poland - this is the latest data research prepared on behalf of the Mennica Skarbowa by the ARC Rynek i Opinia studio.

Is it silver? "new gold"?

Representatives of the Treasury Mint note that silver it may become more and more attractive in the coming years because it is definitely cheaper than gold, and the price for this precious metal is currently undervalued. The study also shows that people choosing silver as their investment product will most often pay attention to the price, the possibility of purchasing it online and the availability of products within 24 hours.

Poles have been able to invest in silver for a long time, but so far only 11% of Poles have ever bought a silver bar or silver bullion coin. Most owners of investment silver live in southwestern Poland. Typically, investments in silver are preferred by men, people between 25 and 34 years of age. Among people who decided to invest in silver, over half (64% of respondents) indicated that they purchased silver bullion coins. If we take into account the gender of investors, we will notice that the data is similar - both over 60% of women and men preferred purchasing silver bullion coins. The biggest difference between product choices occurred in people over 45 years of age. In this age group, only 11% declared that they chose silver bars, and as many as 81% admitted that they bought silver coins.

Gold is not much more popular

It is worth noting that gold in Poland it is only slightly more popular. The same study also shows that so far only 14% of Poles have ever purchased gold investment products. Men (18%) than women (10%) use gold as security for savings slightly more often. Territorially, the southwestern region also stands out on the map of Poland, because it is there that most respondents declared to buy gold. As the study shows, as many as 31% of Poles would consider giving gold coins or small gold bars (up to a maximum of PLN 400) as a wedding gift, and 16% of respondents would gladly buy gold as a souvenir for a baptism or the birth of a child.

– Factors such as Covid, war and the inflation crisis encouraged Poles to invest their money in precious metals. However, please note that the vast majority of Poles have never held real gold or silver (bars, coins) in their hands. So far, only 11% of Poles have ever bought investment silver. At Mennica Skarbowa, we notice that the number of customers buying silver products from us is increasing, but it is still a small percentage of people compared to customers looking for gold products. In our country, silver is most often used by investors who are looking for a way to diversify their investment portfolio - admits Jarosław Żołędowski, President of the Treasury Mint.

– In my opinion, silver is undervalued if we take into account the price per ounce. This is indicated, for example, by demand, supply and historical trends. Please note that silver (in the form of an alloy with gold) was used to produce coins as early as 700 BC, later coins began to be made of pure silver. I believe that we are currently dealing with a growing market. The constantly increasing demand for silver in the global industry will probably cause the price of this metal on world markets to gradually increase. This means a good opportunity to purchase silver investment products. Currently, silver is much cheaper than gold, so the entry threshold is relatively low and oscillates around PLN 150 in the case of a one-ounce coin. The purchase of silver coins and bars is popular, e.g. in Western European countries, and in Poland there is a significant potential to increase sales of this precious metal. I think that in the near future Poles will see the value and justification of investing in silver coins and bars. - he adds.

People choosing silver as their investment product most often pay attention to the price, both per gram and for the entire product. The possibility of purchasing online and the availability of products within 24 hours are other important aspects for investors.  The current price of silver is approximately $23 per ounce. When deciding to buy silver, remember that since 2011, 23% VAT has been applicable in Poland.

The study carried out by ARC Rynek i Opinia was conducted on a representative group of Polish women and men, numbering 1011 people.

Author of the article: The Treasury Mint