U.S. Mint Can’t Keep Up With Silver Demand

AG_SilverDemand

Demand for silver, specifically the American Silver Eagle coin produced by the U.S. Mint, is very much alive and well. In what was yet another example of frenzied demand for physical metals, bargain hunters, collectors and retail buyers jumped into silver on the latest dip. This significant spike in demand consumed the U.S. Mint’s entire current inventory of American Silver Eagles…In fact; over 1.6 million silver eagles were sold in the first week of July.

The mint has stated that it will have additional silver eagles for sale in two weeks, which means investors are likely looking at August before they can get their hands on more.

The U.S. Mint also reported that demand for last month had exceeded demand for May by over 100 percent…

Undeniably, investors are flocking to silver and other precious metals for the safety they provide in these current, turbulent times.

In fact, as demand for precious metals has risen, premiums have also been rising. The premium on silver eagle coins, for example, has risen by over $1 per ounce recently in a clear indication of buyers willing to pay more to get their hands on the physical metal.

This makes perfect sense given the current state of economic affairs…

Greece and its ongoing negotiations with creditors have gone nowhere quickly. The nation has already defaulted on a June 30th payment to the IMF, and could potentially default on payments due to the ECB this month.

Greece has been given one last chance, with a Sunday deadline for bringing adequate proposals to the bargaining table. If they do not, they will almost certainly exit the euro.

These seem to be a series of “last chances” and Greece has thus far not appeared too serious in meeting demands from its creditors. In fact, the two sides have appeared to be quite far apart.

While there is the possibility of a last minute deal; in order for such a deal to be reached the EU and IMF would likely have to agree to some serious concessions. Concessions that could set a very dangerous precedent in dealing with indebted nations.

If a deal is not reached, markets may experience even further volatility than has been seen in recent days…

The current state of Chinese stocks could be an even larger concern for global markets.

Chinese stocks have lost a third of their value in just a few short weeks…

Concerns over an overheated Chinese stock market and the potential for a full on crash have prompted Beijing to implement some serious measures including the suspension of IPOs and special margin financing programs.

If what is happening in China currently is an indication of things to come domestically, better fasten your seatbelt…

Many investors likely see the writing on the wall, and it’s no wonder demand for silver is going through the roof.

Just as Greek citizens are standing in line to exchange cash for gold and silver, investors around the globe are doing the same…

During these uncertain times and with the potential for a global equity market crash on the horizon, demand for silver and other precious metals will likely remain quite robust.

In fact, at current price levels, investors are happy to buy silver and will likely continue to buy  regardless of the price point…

Silver is currently on sale-that’s all there is to it…

With strong demand and limited supply, we believe it’s only a matter of time before silver once again starts rising-and the rise could be swift and severe.

So ask yourself: “Would I rather buy silver at $15 per ounce or $30 per ounce?”

Don’t wait until prices begin to rise. Buying silver at current levels is akin to buying wholesale rather than retail…It’s a no-brainer.

And it’s never been easier…

If you are interested in adding wealth protecting assets to your portfolio-assets that may protect you from the coming equity bubble and Greek exit-then consider silver and precious metals while they are on sale.

One of the simplest ways to gain exposure to these critical precious metals is through a precious metals IRA. Getting started with a gold IRA is easy. Our experienced executives are here to guide you, step by step, through the entire process. Call us today at 1-800-341-8584 FREE

 

Tags: , ,