Silver Dollar Values Prices Soar, Schiff: It's Obvious To Investors That Gold & Silver Are Best Buys

Feb. 12, 2013 - PRLog -- Because of high investor demand, the U.S. mint has stopped selling its 2013 American Eagle silver bullion coins. According to mint spokesman Michael White, 6,700,000 oz. of Silver eagle coins were sold between Jan. 7, when the coins first went on sale, and January. 15. Until this year, the actual all-time high was 6,422,000 ounces, set in January 2011. "We mint to need," mint spokesman Michael White told ABC News. How High Will Silver Go? Learn More >> http://www.silver-dollar-values.com

In e-mail to authorized purchasers, the mint said it would resume product sales around the week of January. 28, after it mints more coins. One of the purchasers, Terry Hanlon, was very pleased about the situation. "I love it," said Hanlon of Dillon Gage Metals, a principal precious metals dealer in Dallas that purchases directly from the mint and sells to bankers, coin sellers and jewelers. "We are very, very hectic and we have been for the last many months. That would certainly reflect that individuals are worried that the financial situation in the U.S. isn't likely to get any better -- so they're purchasing precious metals."

Peter Schiff, an economist and president of Euro Pacific Precious metals, a precious metals dealer in NY, agreed. "With the Federal Reserve obviously stating that unlimited money development and dollar debasement are its intended policy goals, it's getting painfully obvious to more and more investors that precious metals are a much better savings alternative than zero-interest bank deposits," said Schiff. "For many of these first-time purchasers, silver bullion coins like U.S. Silver Eagles are one of the easiest, most dependable and most cost effective means to get precious metal exposure." Rare Coins, Silver Coins, Gold Coins >> http://www.silver-dollar-values.com/SELLING-GOLD/

Yet, he added, if investors cannot buy Silver Eagles, they can also buy other coins such as Canadian Maple Leaf silver coins, that are minted by the Canadian government and are "just as good." "When individuals are buying bullion they're not accumulating the coins, they just wish to have reliable silver," he said.

The actual American Eagle Bullion program premiered in 1986 with the sale of gold as well as silver bullion coins. Platinum was added Eleven years later. The coins are made at the mint's plant in West Point, N.Y. How High Will Silver Go? Learn More >> http://silver-dollar-values.com