Since starting writting this blog in November 2009I have watched silver prices slowly climb. Today it reached $23.32 (up a further 12c).
The sale of American Silver Eagles is also climbing!
My message as ever is simple:
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US Stocks – Short term trend remains down hard. The next down-draft is expected to be sharp with the Dow falling several thousand points. Downside potential remains historic. Long term trend down though mid 2016. This phase down in stocks will be larger than the 2007 – 2009 decline. It has already started and the public is clueless. I expect ALL world stock markets to fall. US Dollar – Short and Intermediate term US Dollar trends have turned up. This rally could last several weeks or many months. Long term trend down, as is the case of all unbacked paper currencies since the beginning of history. Interest Rates – Have put in or will soon put in a major bottom. The bond market is currently the biggest bubble about to (slowly) burst.
Precious Metals – Short term trend up. That could change. Long term trend is up. At some point in the future I believe that paper currencies will have to convert to some type of precious metals backing. Or people may just lose faith in paper money .We want to be in silver BEFORE that happens. Interest in silver continues to grow as evidenced by the record breaking Silver Eagle sales and of course the fact prices have been rising. Real Estate – Down. The Economy – Down. Deflation will accelerate. Unemployment should ultimately double before this deflation ends. The largest measure of money supply in the US, M3, is contracting at a rate that is only comparable to the Great Depression (see http://news.goldseek.com/PeterCooper/1275321600.php )
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US Stocks – Short term trend remains down. The next down-draft is expected to be sharp with the Dow falling several thousand points. Downside potential remains historic. Long term trend down though mid 2016. This phase down in stocks will be larger than the 2007 – 2009 decline. It has already started and the public is clueless. I expect ALL world stock markets to fall.
US Dollar - Short term prices are approaching a low. Intermediate term US Dollar trend remains up. This rally could last another year or so. Long term trend down, as is the case of all unbacked paper currencies since the beginning of history.
Interest Rates – Short term rates down but near a low. Long term trend remains up but interest rates may stay in a low range for months, maybe years.
Precious Metals – Short term trend is turning back down or will after one more push up to its recent highs. Long term trend is up. At some point in the future I believe that paper currencies will have to convert to some type of precious metals backing. Or people may just lose faith in paper money .We want to be in silver BEFORE that happens. Interest in silver continues to grow as evidenced by the record breaking Silver Eagle sales and of course the fact prices have been rising.
Real Estate – Down.
The Economy – Down. Deflation will accelerate. Unemployment should ultimately double before this deflation ends. The largest measure of money supply in the US, M3, is contracting at a rate that is only comparable to the Great Depression (see http://news.goldseek.com/PeterCooper/1275321600.php )
I was pleasantly surprised heres what I found (via Terapeak.co.uk):
Then I wanted to find out what the Professionals were saying about American Silver Eagles……..
Quoted from The Silver Institute in Washington, DC, from an article in their most recent Silver News quarterly newsletter:
”The United States Mint sold 28,766,000 American Silver Eagle bullion coins in 2009, an all-time record, 46 percent more than 2008 sales of 19,583,000 of the one-ounce coins.
In addition, American Eagle silver bullion sales revenue increased 21.4 percent from $306.4 million in fiscal year 2008 to $372 million in FY 2009, Mint officials noted.
The rise in demand is coming mainly from consumers who see silver as a storehouse of wealth during financially uncertain times, including inflation and a declining US dollar, as well as silver’s growing industrial use as world economies improve.”
. . . and from a news story posted on the NumisMaster.com website on April 8th:
”How many silver American Eagles must the U.S. Mint offer for sale before buyers have enough?Good question. During the first quarter of 2010, the Mint sold a record 9,023,900 of the one-ounce silver coins, but demand still exceeds supply and the Mint is continuing its allocation process among its authorized purchasers to ration the supply. If sales continue at this pace, more than 36 million could be sold by the end of the calendar year. Such a figure would be up sharply from last year’s 28,766,500 coins, which itself was a record number for a calendar year.”
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Hi, thanks for taking the time to visit my site, here you will find lots of interesting information relating to collecting American Silver Eagle Dollar coins.
American Silver Eagles area stunning example of a highly sought after collectable coin. It is 99% pure silver and weighs on 1 troy oz. Once you have held one of these stunning coins in your hand (sealed in an airtight case so you dontget you stickyfinger prints on it!) then you will simply be hooked. The images on the font and back are highly detailed and make this coins simply stunning.
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Buy the coins as an alternative investment medium, and put them away for yourself, your family or simply as a way of saving for the future. You can follow me on Twitter, join as a member on my blog or join the Silver Eagle Affiliate mailing list
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The motivations for collecting are varied. Possibly the most common type of collector is the hobbyist, who amasses a collection purely for fun with no real expectation of profit.
This is especially true of casual collectors and children who collect items on the basis of chance and personal interest. Another frequent reason for purchasing coins is as an investment. As with stamps, precious metals or other commodities, coin prices are cyclical based on supply and demand. Prices drop for coins that are not in long-term demand, and increase along with a coin’s perceived or intrinsic value.
Investors buy with the expectation that the value of their purchase will increase over the long term. As with all types of investment, the principle of caveat emptor applies and study is recommended before buying. Likewise, as with most collectibles, a coin collection does not produce income until it is sold, and may even incur costs (for example, the cost of safe deposit box storage) in the interim.
Coin hoarders may be similar to investors in the sense that they accumulate coins for potential long-term profit. However, unlike investors, they typically do not take into account aesthetic considerations, rather they gather whatever quantity of coins they can and hold them. This is most common with coins whose metal value exceeds their spending value.
Speculators, be they amateurs or commercial buyers, generally purchase coins in bulk and often act with the expectation of short-term profit. They may wish to take advantage of a spike in demand for a particular coin (for example, during the annual release of Canadian numismatic collectables from the Royal Canadian Mint). The speculator might hope to buy the coin in large lots and sell at profit within weeks or months. Speculators may also buy common circulation coins for their intrinsic metal value. Coins without collectable value may be melted down or distributed as bullion for commercial purposes. Typically they purchase coins that are composed of rare or precious metals, or coins that have a high purity of a specific metal.
A final type of collector is the inheritor, an accidental collector who acquires coins (a collection, hoard or investment) from another person as part of an inheritance. The inheritor may not necessarily have an interest in or know anything about numismatics at the time of the acquisition.