Silver Dollar Values Prices Will Be Skyrocketing When Greece Voting Drives Silver To $50

June 29, 2011 - PRLog -- Silver prices - per Kitco.com - were $34.10, up 6 cents for the day, at the time of this composing. Silver price is up $15.49 for the past twelve months.  That is an increase of 83.68% for that same time period. That is a lot better than any investments in stocks and bonds have done is that same period of time. Gold price was up $1.00 at $1,504.10 today per Kitco.com. Gold for the past 12 months has risen $262.30 per ounce which is an increase of 21.14%. http://silver-dollar-values.com

The industrial uses for silver are growing quickly and in most situations there is no other substitute for it. This really is placing greater stress around the over ground materials of the metal. In the end of World War the strategic stockpile of silver metal held by the US government was stated to become about 3 billion ounces. Many other central federal government also maintained stockpiles of silver. China is jumping into the silver buying game big time. The Chinese government is encouraging people in China to buy and hold silver coins and bars. Now there are zero ounces held through the US government. Due to stress from silver user lobbies, the US offered all its silver. Other governments like India similarly offered their silver stockpiles. Now once the US mint desires to issue Silver Eagle coins it must go to the spot marketplace and buy silver. http://www.silver-dollar-values.com

Estimates are created that, in actual ounces and not monetary really worth, there is about 5 occasions the amount of bodily gold in above ground stores than silver. There's much greater demand for silver in business than gold. That silver has been utilized up and can't, to any substantial extent, be recovered. To top this off, traders are now turning to silver because of its monetary function. The US Mint offered more silver eagles in the first few weeks of January 2011 than in the previous nine months in 2010 and manufacturing was higher in 2010 than in 2009. This attests to the increased investor demand for silver as a store of value. Silver usually utilized to imply cash and was in higher use for that objective than gold. It had been what circulated. The function for silver as money might be making a large comeback.

For your previous twenty many years we have been consuming more silver than was being mined. The distinction was make up by selling of silver by governments and by recycling. Anybody understands that these means can't supply silver indefinitely. When the above ground stores are depleted, the only new silver will arrive from mines. There are two fascinating observations concerning silver mining. First of all, the simple to find silver has already been discovered. The remainder will be pricier to discover and bring to marketplace. Secondly, the depressed prices of silver for the past twenty many years discouraged new investment in creating new silver discoveries or in expanding capability of current mines. Many silver miners were forced to close their doors in the 1990s due to depressed silver prices. It cost more to mine that it would bring in the open marketplace. It takes a minimum of five many years to flip a mineral discovery into a working mine. Even a dramatic increase in the silver price from this stage forward won't outcome in new silver productions for at least 5 many years. http://www.silver-dollar-values.com/Selling-Gold/

Add to this the reality that public confidence in paper currencies is at an all time reduced as governments deliberately devalue their currencies to try to preserve a favorable balance of trade. This puts even higher pressure on silver as a store of value. Since silver is lower in price it continues to be known as bad man’s gold. The average citizen is better able to afford an ounce of silver compared to an ounce of gold. You will find a lot more average citizens than rich ones so once they get the word around the worth of silver, the purchasing pressure will be immense but the supply is minuscule.

All of those basic features as well as the technical indicators stage towards the fast and dramatic increase in the price of silver and silver miners in the coming months and years. We have seen what the price of gold has done in this environment and also the increase in its worth continues to be robust. With silver I really feel it's likely to go from strong (and higher than gold’s gain in the previous ten many years) to completely magnificent. This really is why I like each metal but favor silver over gold at this time in time. Now may be a fantastic opportunity for you to buy silver and gold while the prices are taking a little dip. My guidance would be to purchase silver these days!

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