.U.S. Mint Silver-Coin Sales in January Climb to a Record

Posted: January 30, 2013 | Author: | Filed under: Coins, Precious Metals, Silver | Tags: , , , , , , , | Leave a comment
American Eagle, design by Adolph Weinman.

American Eagle, design by Adolph Weinman. (Photo credit: Wikipedia)

Sales of American Eagle silver coins this month by the U.S. Mint jumped to a record on demand for an alternative to currencies.

Sales of the coins surged to 7.42 million ounces so far in January, the biggest monthly total since 1986, when the Mint began the transactions, Michael White, a spokesman, said in a telephone interview today.

Silver prices in New York have more than doubled since 2008 as the Federal Reserve increased its balance sheet with debt purchases aimed at spurring an economic recovery. The central bank, which concludes a two-day meeting tomorrow, has pledged $85 billion in monthly bond buying in its latest round of stimulus measures.

“The quantitative easing has helped boost sales as people are worried about currency debasement and future inflation,” Anthem Blanchard, the chief executive officer of Blanchard Vault, a Las Vegas-based online retailer of gold and silver, said in a telephone interview. “We expect demand to remain buoyant.”

Global holdings of silver in exchange-traded products reached a record 19,699 metric tons on Jan. 18, data compiled by Bloomberg show. Prices are up 3.2 percent this month in New York, after advancing 8.3 percent in 2012, as central banks from the U.S. to Japan pledged more stimulus measures to boost economic growth.

Monthly Purchases

Fed Chairman Ben S. Bernanke will push on with purchases of $40 billion a month of mortgage bonds and $45 billion a month of Treasuries until the first quarter of 2014, according to a Bloomberg survey of 44 economists.

Silver futures for March delivery rose 1.3 percent to $31.184 an ounce today on the Comex in New York, the biggest gain for a most-active contract in two weeks.

The Mint resumed silver-coin sales yesterday after transactions were suspended for more than a week because of a lack of inventory.

Sales of American Eagle gold coins so far in January are up 84 percent from December to 140,000 ounces, which would be the highest monthly total since July 2010, Mint data show

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U.S. Mint Suspends Sales of Silver Dollars

Posted: January 25, 2013 | Author: | Filed under: Silver | Tags: , , , , , , , | Leave a comment
Picture of the Morgan Silver Dollar

Picture of the Morgan Silver Dollar (Photo credit: Wikipedia)

 

 

NOTE : This article is from a silver dollar dealer – for his upcoming show :

Guns and ammo aren’t the only things Americans are buying in record amounts.

Last week, the U.S. Mint announced that it has suspended sales of its 2013 American Eagle silver bullion coins after running out of stock due to soaring investor demand for the newly minted coins in the first two weeks of the year.

Investors already had bought 5 million silver eagles before the suspension was announced. Last year, investors bought more than 40 million American eagle silver dollars.

I’ve long been a fan of the American eagle silver dollar — it’s exactly one ounce of silver (now worth $32 an ounce); it is a legal tender coin; it has all the images of America: Lady Liberty, the American eagle, the phrase “In God We Trust” and Benjamin Franklin’s favorite symbol of America. Can you guess it?

I recommend that you buy these beautiful silver dollars and circulate them. Don’t just hide them in a safe deposit box. Give them away as gifts for birthdays, anniversaries, graduation day and other special events. Encourage receivers to keep them in their pockets or purse and look at them from time to time. They can be a good luck piece. Business leaders should use them to give to their employees as a bonus for good work. Or, offer them as a tip for good service. Or, put them in a Salvation Army kettle.

 

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Central Banks Adding to Their Gold Reserves – Bloomberg

Posted: November 22, 2012 | Author: | Filed under: Central Banks, ETF, Gold | Tags: , , , , , , , | Leave a comment
English: Clockwise from top-left: Federal Rese...

English: Clockwise from top-left: Federal Reserve, Bank of England, European Central Bank, Bank of Canada (Note: Uploaded for use on Wikinews) (Photo credit: Wikipedia)

Gold rose as central banks joined investors in adding to holdings and the euro strengthened against the dollar before regional leaders meet today. Silver traded near a five-week high.

Gold rallied 11 percent this year as investors and central banks bought bullion to diversify assets. Holdings in ETPs backed by bullion rose to a record 2,605.318 metric tons Wednesday , November 21, data compiled by Bloomberg show. Kazakhstan, Turkey and Russia boosted reserves in October, according to data on the International Monetary Fund’s website, joining Brazil, which raised holdings to the highest in more than 11 years.

“We think this is a positive signal for the market and expect moderate price gains in the days ahead,” Tobias Merath, head of commodities and alternative investments research at Credit Suisse AG’s private banking unit, wrote in a report today, referring to the central bank purchases. “The focus will be on events in Europe.” U.S. markets are closed for Thanksgiving.

Spot gold rose as much as 0.2 percent to $1,732.65 an ounce before trading at $1,729.47 at 9:18 a.m. in London. Gold for delivery in December rose 0.1 percent to $1,729.30 an ounce in electronic trading on the Comex in New York.

Gold also gained as the euro rose to a two-week high against the U.S. dollar before before leaders of the 27 European Union member nations gather today for budget talks. Finance ministers from the 17-nation currency bloc will resume talks on aid for Greece next week.

The U.S. Mint sold 67,000 ounces of gold coins so far in November, more than the 59,000 ounces for all of October, according to figures on the mint’s website. At that pace, total sales for the month would be 100,500 ounces, up 145 percent from a year earlier.

Silver was little changed at $33.34 an ounce, after gaining as much as 0.3 percent to $33.4525 in earlier trade. Platinum for immediate delivery gained gained 0.4 percent to $1,583.75 an ounce and palladium advanced 0.9 percent to $652.50 an ounce.

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