U.S. Mint Can’t Keep Up With Silver Demand
Increased Silver Demand
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.
The U.S. Mint reported it sold over 30 million silver eagles as recently as 2020. Not only that, but total silver demand reportedly outweighed industrial demand by a wide margin.
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 continued to climb 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…
Several issues may keep silver eagle premiums elevated as investors look to get their hands on these coins. The war in Ukraine, for example, has likely fueled demand for the perceived safety of silver eagle coins.
Concerns over the 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 who stood 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…
The Bottom Line
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 further. 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.
Talk to an IRA advisor about how to roll over your 401(k) into a Gold IRA by opening a self-directed IRA account, contact us or call us at 800-341-8584 today.