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Someone trading silver as a commodity rather than a precious metal is going to make a product from the silver, so they buy it in ingots. Precious metal traders buy bullion coins. If you're an industrial silver user, you can request your silver be made into whatever size ingot you want--within reason, of course; you're not too likely to order a 20,000-pound silver ingot even if you need that much metal--that it be alloyed with various metals to change its characteristics, or anything else you need to make your production as smooth as possible.
What else can I help you with?
Why is digital money classified as fiat money?
Because usually it is not backed up by any commodity such as gold or silver. While it is possible to have digital currency that is fully backed up by a commodity, most aren't.
What is an example of commodity money?
Commodity money refers to objects that have value and can be used as money. Examples would be gold, silver, jewelry, or any metal that has value. Anything that has value to one person can be used as commodity money. If someone is in need of coffee beans and you have them but they don't, they may be willing to barter goods in exchange for coffee beans. In this case, coffee beans would be used as commodity money.
How do I get live MCX tips for the Indian commodity market?
In present time majority of peoples are want to knowledge in live mcx, Those who wants best Commodity Tips Advisors and live Market in India, please give a chance to Commoditybeat which has a wide range of well-qualified and experienced market expert. Commoditybeat is India's Leading Commodity Investment Advisory Platform which provides best market prediction and risk analysis. We also provide data from Mcx, commodity market, commodity tips, live market, mcx tips, crude oil tips, brent crude oil, mcx news, commodity news, commodity trading in india, investment tips, silver tips at commoditybeat
What types of money do you know of?
There are several types of money, including fiat money, which is government-issued currency like the US dollar; commodity money, which is backed by a physical commodity such as gold or silver; and cryptocurrencies, which are digital currencies using blockchain technology, like Bitcoin. Additionally, there are representative money, which represents a claim on a commodity, and local currencies, which are issued by specific communities for local transactions. Each type serves different functions and has unique characteristics in the economy.
Where can one find out more on commodity futures options?
If you want to find out more information about commodity futures options then you can go to the website Commodity World which is a free site where you can do research.
What is the purpose of commodity silver?
The purpose of commodity silver is usually for investment. Although silver is not as rare or as valuable as gold it is also long lasting and valuable enough that it is usually a stable investment.
What is an example of commody money?
The term you are looking for is commodity money. Some examples of commodity money are gold and silver.
What are the three forms of money?
The three forms of money are commodity money (like gold and silver), fiat money (issued by a government and not backed by a physical commodity), and representative money (backed by a physical commodity, but can be exchanged for that commodity).
What are some examples of commodity money?
gold, silver, copper, foods, alcohol, cigarettes, and drugs can all be used as commodity money.
Where can one get information on silver commodity prices?
One can get more information about silver commodity prices on a number of websites. Few examples are: Super Trading Online, CNNMoney, and moneycontrol.
Why silver rate is going down in Indian commodity market?
Domestic commodity markets continue to witness a fall in gold prices and silver follows suit. ... Gold prices down in futures trade on global cues.
How does representative money compare to commodity money?
Representative money is a type of currency that represents a claim on a commodity, such as gold or silver, allowing holders to exchange it for that commodity, while commodity money is actual physical goods with intrinsic value, like gold coins or silver bars. Unlike commodity money, representative money does not have intrinsic value itself; its value is derived from the trust that it can be exchanged for a specific amount of a commodity. This distinction allows representative money to be more flexible and practical for everyday transactions.
What is commodity tax?
This tax is 0.01 percent and it is assessed when trading non-agriculture commodity derivatives. It has the potential to affect the trading of metals, including gold and silver.
What is commodity transaction tax?
This tax is 0.01 percent and it is assessed when trading non-agriculture commodity derivatives. It has the potential to affect the trading of metals, including gold and silver.
Predicting Silver Spot Prices?
A number of factors determine silver spot prices. Supply and demand are the biggest factors that result in the current silver spot price. Commodity markets that trade around the world include precious metals such as silver, gold and platinum. The commodity markets play a part in the silver spot price. Supply and demand prices can vary by the hour. Future commodity speculation also plays a part in determining silver spot prices. The demand for silver by manufacturing companies also influences the spot prices. World governments affect the price by purchasing or selling large quantities of silver. The opening or closing of silver mines, and the increase or decrease of production also affects prices. For the most part, silver spot can change quickly.
Why is digital money classified as fiat money?
Because usually it is not backed up by any commodity such as gold or silver. While it is possible to have digital currency that is fully backed up by a commodity, most aren't.
Where can you find silver commodity prices?
Check the financial section of your local newspaper or use a financial site such as CNNMoney.com.
