Saturday, March 2, 2013

Sales of Silver Coins Reaches an All Time High

Silver Coin
Silver Coin (Photo credit: migraines2000)

Gold is very expensive and for most people, out of reach. But, you want to invest and secure your future. What will you do? Invest in ‘cheap gold proxy”. This is what Morgan Stanley calls silver, the sales of which has shot to an all time high. Recently, the 2 day meeting of the Federal Reserve decided that stimulus would be provided to improve silver prospects and bring them back to their former glory in 2008.

The currency market is constantly plagued by highs and lows and cannot be depended upon. People want to and should invest in something that would yield them good returns and not make them worry about it all the time. US Central bank has moved towards silver because of this very issue with the currency trading.

Silver is high in demand and has the support of loose financial policies. Industrial consumption has also increased leading to its high demand. In fact, since 2008, the price has doubled up and investments have reached a record high. Here are some things that would clear it up for you -

  1. According to the CEO Blanchard Vault, Anthem Blanchard, sales have increased due to quantitative easing. People are worried about the ever increasing inflation that doesn’t seem to be getting better in the near future. Also, debasement of currency doesn’t help the public sentiments either. Blanchard Vault is an online retailer of gold and silver, and the company works out of Las Vegas and he expects the sales of silver to better as the time progresses.
  1. The demand for silver was high but the lack of inventory to meet this demand led to suspension of silver sales in January. The stocks of Mint had been empty and the sales were twice the usual when this suspension was enforced. However, sales have resumed and the suspension is over. Mint data supports the soaring prospects of silver with these figures –
  • In December 2012, the sales of silver managed 1.635 (ounces in millions) whereas if you take the figures of January 2013, it is 7.42 (ounces in millions). There have never been better sales of silver since 1986.

  1. Like Silver, Gold sales have improved as well. If the current January 2013 figures are to be compared with December 2012’s, there has been a rise of almost 85%. The last time gold saw such a high was in July 2010 and since then, this has been the highest gold has come. All in all, the market seems to be partial to gold and silver at the moment and prudent investors would definitely make the most out of it.
  1. Silver gained 1% to USD 31.50 an ounce in Comex, New York. There has been a rise of 4% of this metal. Central banks, Japan and U.S continue to predict an increased growth and promise that the stimulus would be raised to achieve the same.

There would never be a better time to run to your rare coin dealer and get some silver as an investment and a saving.



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