SLV is the trading symbol for the iShares Silver Trust. This is an exchange traded fund that is bought and sold on the market and has a ticker just like stocks. If the goal is to choose this precious metal and not take possession then a stock or ETF can be an excellent option in many cases.
You can benefit from positive moves and price changes without some of the difficulties that owning the metal may involve when this vehicle is chosen. iShares may be right in many cases, but the final determination will be up to each individual. There are many stock considerations that also need to be evaluated with this ETF as well.
The financial standing of the business, the performance and growth seen in recent years, and many other aspects must be closely evaluated. The fact that this choice actually trades on the open market gives it an edge over traditional mutual offerings, which may have limits and restrictions on the times when trades can occur.
Before you can decide whether or not this investment is right for your objectives and other relevant factors you will need to research all of the possibilities that you have. Since your capital amount is limited you want the best that the market offers, and this may or may not be SLV. The trust is currently at a price of $31.38 and has seen exceptional YTD returns for the last 3 years when averaged.
One enormous benefit is the holdings that iShares Silver Trust includes. This fund only holds bullion in the portfolio, so there is no diversification. In many cases the individual already has a portfolio built up that provides the protection needed, so the fact that this form of investing only involves a single precious metal is not an issue and the heavy sector weighting is desired instead.