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Does a big surge in silver coin sales worldwide indicate a price hike like 2009-2011 is coming?
silverseek.com / Peter Cooper / October 2, 2015 – 8:20am
A recent Reuters report about surging silver coin sales all over the world (click here) has precious metal investors wondering if this is not an early sign of the sort of increased physical metal demand that would surely precede another big take-off in silver prices like in 2009 to 2011 when silver rocketed from $8.50 to $49.50 an ounce, still just short of its 1980 all-time high.
The US Mint today reported third quarter sales of silver eagle coins running at their highest level for 29 years. That might seem odd with the price of silver so low but then this price is set in the Comex futures exchange and so has more to do with paper trading that the real metal.
The mints quite fairly point out that there is a shortage of coin manufacturing capacity rather than a shortage of actual silver. Indeed, silver prices have slumped this year along with all other industrial metals due to the emerging recession in China and its impact on demand for the metal.
Low prices now
However, those stocking up on coins are not particularly worried by the higher and higher premiums now being paid on the spot price because they can see scope for a considerable advance in prices now down 70 per cent from their 2011 highs. Silver should be a very good candidate for a recovery in another bout of money printing after a more serious shake-out in stock markets.
The post Does a big surge in silver coin sales worldwide indicate a price hike like 2009-2011 is coming? appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/10/02/does-a-big-surge-in-silver-coin-sales-worldwide-indicate-a-price-hike-like-2009-2011-is-coming/
