Meanwhile, sales of Silver Maple Leaf coins by the Royal Canadian Mint are expected to beat last year's level and could break a record of 23.1 million in 2011.
What's behind this enthusiasm for silver? One very positive, underlying factor affecting silver sales in general is that India's silver imports have more than doubled this year after officials restricted gold imports to reign in the nation's trade deficit. The demand for U.S. Silver Eagles is global with coins being sold into Germany, Asia and elsewhere.
And silver looked like a bargain to some investors when it sank to a 34-month low of $18.61 an ounce in late June. Prices rebounded and stood at $21.70 on November 3. But that was less than half their 31-year high of $48.70 an ounce in April 2011.
Silver is attractive because of its roles both as an investment vehicle and as an industrial metal, says Terry Hanlon, president of Dillon Gage Metals. “U.S. Silver Eagles, backed by the U.S. government, are a great way for investors to buy the white metal,” he says. “Eagles are one of the most convenient ways to invest in silver bullion because they are produced in one ounce increments and are packaged in tubes of 20 coins. They’re much easier to sell, store and transport than larger silver bars.”
Like American Gold Eagles, Silver Eagles can be included in Individual Retirement Accounts, as long as they are held by a third-party custodian, Hanlon notes. Gold and Silver Eagles are just two of the allowable products for precious metals IRAs. Dillon Gage Metals recommends that you check with your precious metal retailer for more details.
American Silver Eagle coins are the only legal-tender, pure silver coins issued by the United States Mint that are salable at market value. Authorized by Congress in 1985 and first minted in 1986, Silver Eagles are .999 fine silver and are produced at the United States Mints in Philadelphia and San Francisco. They weigh one troy ounce, are 40.60 millimeter in diameter and have a face value of $1.00.
On one side, the coin depicts Adolph Weinman's “Walking Liberty” design, adapted from U.S. quarters and half dollars, while the reverse side displays the “Heraldic Eagle” design by John Mercanti.
“We proudly trade in silver products from the United States Mint, the Royal Canadian Mint, the Perth Mint and mints all over the world,” Hanlon says.
For more information on Dillon Gage Metals, please visit www.dillongage.com/
About Dillon Gage Metals
Dillon Gage Inc. of Dallas (www.DillonGage.com)
· Dillon Gage Metals, www.DillonGage.com/
· FizTrade Online Trading, (www.FizTrade.com)
· Diamond State Depository LLC, (www.DiamondStateDepository.com)
· International Depository Services of Canada Inc., (www.IDSofCanada.com)
· Digital Metals,(www.DigitalMetals.com)
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