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Silver Dollar Values Prices Soaring, U.S. Mint: 2013 Silver Eagle Coins Totally Gone
U.S. Mint selling out of 2013 American Silver Eagle coins a foretaste of higher silver prices to come in 2013 due to intensive demand for silver bullion by investors and traders. Read more now...
The US Mint is expecting the temporary sell out of the 2013-dated coins to last till on or about the week of January 28, 2013. At that point, sales will probably be resumed below an allocation procedure. Throughout prior periods of powerful demand for gold and silver bullion coins, the Mint has utilized an allocation procedure to ration accessible supplies amongst their main distributors. It has occurred more often in the past that the Mint was out of stock, but not in 2011 and 2012. We reported earlier concerning the powerful start of 2013 for gold and silver. They're presently selling on Ebay for $5 over spot price! If this really is a sign of things to come, greater prices are most likely around the horizon for precious metals.
Meantime, out of Indian, The Financial Times reported that the Asian industrial silver demand remains firm. Prithviraj Kothari, managing director from Riddisiddhi Bullion, says: ”We are bullish on silver instead of gold and anticipate it to touch Rs 62,000 a kg in the coming months. The electronics sector is expected to become the mainstay of industrial demand over the next two years with Asia as being a possible growth center.”
Holdings in the iShares Silver Trust jumped 571.6 metric tons on Jan. 16, an increase now valued at $584 million. Prices might rise as a lot as 27 percent to $40.25 an ounce this year, a survey of 49 analysts, traders and investors last month showed.
International assets in silver ETPs climbed to a record valued at $20.1 billion as central banks from the U.S. to China pledged more actions to increase financial growth. The stimulus is raising demand for precious metals as being a hedge against quicker inflation and currency debasement. Strengthening economies might also benefit silver, because 53 percent of it's utilized in every thing from televisions to batteries, the Silver Institute says.
“With silver, you are able to benefit from both sides: its safe- haven status and also the reality that it is also an industrial commodity,” stated Frederique Dubrion, the Geneva-based president and chief investment officer of Blue Star Advisors SA, which manages metals and power assets. “Given some positive top indicators, particularly in the U.S., investors would most likely favor turning to silver instead of to gold.” Rare Coins, Silver Coins, Gold Coins, Learn more >> http://www.silverpricestoday.cc/
Silver for instant delivery climbed 4.8 percent to $31.795 in London this month, extending last year’s 9 percent advance. Only platinum amongst the primary 4 precious metals has performed better so far in January, increasing 9.9 percent. Silver reached a record $49.79 in April 2011.
International ETP assets had been at an all-time high of 19,686.55 tons yesterday, equal to about nine months of mine production, based on information compiled by Bloomberg and Barclays Plc. The increase in the iShares Silver Trust two days ago was the greatest since December 2007. BlackRock Inc. (BLK), the manager of the fund, verified the figures.
The U.S. Mint sold 6.01 million ounces of American Eagle silver coins so far this month. That is the most since the 6.11 million ounces sold in January last year, its web site shows. December’s total was 1.64 million ounces.
The current jump in silver demand might be as some investors seek an option to gold’s “lackluster overall performance,”