"Silver investors have been presented with a gift.”
Minneapolis, MN (PRWEB) March 4, 2010
A total of 4.8 million U.S. Silver Eagle coins have been sold by the U.S. Mint since January – the largest accumulative sale of the coins in Mint history, according to U.S. Treasury sources. The widespread buying action accounted for 100 percent of all the silver mined in the U.S. during the past two months.
Investment Rarities’ president, Jim Cook, views the heightened retail demand for Silver Eagles as yet another indication that silver prices could move significantly higher in the second half of the year, Cook said in an item published on "Pedal to the Metals," the company's Silver and Gold Coin Blog (http://silverandgoldcoinblog.com/demand-for-silver-eagle-hits-record-levels/). “We sold out of our pre-issue allotment of the 2010 Silver Eagles in two weeks,” notes Cook. Canadian Maple Leafs and 100-oz. silver bars are starting to move briskly as well.”
While the U.S. Mint was selling Silver Eagles, the exchange traded silver fund (ETF), “SLV,” added one million ounces to its silver holdings, further tightening world supplies. During the same period, investment banks bought back 24,000 silver short contracts, mitigating significant pressures on silver prices due to concentrated short holdings of the precious metal on COMEX.
"I view all these recent activities as a positive for future (silver) price expectations,” contends noted silver analyst, Theodore Butler. “The fact that the Mint can’t keep up with the demand (for Silver Eagles)…the ETFs are purchasing not selling … silver investors have been presented with a gift.”
To meet customer demand for the rare silver coins, Investment Rarities, Inc., has created a 25th Anniversary Commemorative Set of Silver Eagle Coins. The set includes 25 rolls, ten coins per roll, for each year the Silver Eagles have been struck by the U.S. Mint. The Silver Eagle 25th Anniversary Commemorative set includes coins from 1986 to 2010.
Since their launch in 1986, the American Eagle Silver Dollar has become the most popular and widely collected silver coin in U.S. history. Minted at the U.S. Mint's West Point, New York facility, each Silver Eagle contains one troy ounce of .999 pure silver, with a face value of one U.S. Dollar. Based on the current price of silver, the investment value of each coin is $16.
Orders for the 25th Anniversary Commemorative Set of Silver Eagle Coins are being accepted via telephone at IRI’s corporate office in Minneapolis, MN at 1-800-328-1860.
Visit "Pedal to the Metals" for regularly updated news and commentary about Silver and Gold (http://www.silverandgoldcoinblog.com).
ABOUT INVESTMENT RARITIES, INC.: Investment Rarities Incorporated (IRI) has been helping clients preserve wealth with gold and silver for over 35 years. The company has delivered over two billion dollars in coins and bullion to their customers. For more information visit Investment Rarities, Inc. at http://www.investmentrarities.com. Call toll-free at 1-800-328-1860. Follow IRI on Twitter at http://twitter.com/IRIMetals. Subscribe to IRI’s YouTube Channel at http://www.youtube.com/user/InvestmentRarities.
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