Eagles are one of the most convenient ways to invest in silver bullion because they are produced in one ounce increments and are packaged in tubes of 20 coins. They’re much easier to sell, store and transport than larger silver bars.
Addison, TX (PRWEB) November 08, 2013
So far this year, sales of American Eagle silver coins from the United States Mint have already surpassed last year's level as investors snap them up at a breakneck pace. The Mint will continue the sale of the 2013 silver eagles to its authorized bullion purchasers until December 9, 2013 and then will cease sales until the 2014 coins are released in January, according to Dillon Gage Metals, precious metals wholesalers in Dallas. By October’s end, 39.17 million ounces of silver Eagles had been sold to date in 2013, compared with 33.74 million in all of 2012. At this years' pace, silver Eagle sales will likely exceed the record 39.868 million set in 2011.
Meanwhile, sales of Silver Maple Leaf coins by the Royal Canadian Mint are expected to beat last year's level and could break a record of 23.1 million in 2011.
What's behind this enthusiasm for silver? One very positive, underlying factor affecting silver sales in general is that India's silver imports have more than doubled this year after officials restricted gold imports to reign in the nation's trade deficit. The demand for U.S. Silver Eagles is global with coins being sold into Germany, Asia and elsewhere.
And silver looked like a bargain to some investors when it sank to a 34-month low of $18.61 an ounce in late June. Prices rebounded and stood at $21.70 on November 3. But that was less than half their 31-year high of $48.70 an ounce in April 2011.
Silver is attractive because of its roles both as an investment vehicle and as an industrial metal, says Terry Hanlon, president of Dillon Gage Metals. “U.S. Silver Eagles, backed by the U.S. government, are a great way for investors to buy the white metal,” he says. “Eagles are one of the most convenient ways to invest in silver bullion because they are produced in one ounce increments and are packaged in tubes of 20 coins. They’re much easier to sell, store and transport than larger silver bars."
Like American Gold Eagles, Silver Eagles can be included in Individual Retirement Accounts, as long as they are held by a third-party custodian, Hanlon notes. Gold and Silver Eagles are just two of the allowable products for precious metals IRAs. Dillon Gage Metals recommends that you check with your precious metal retailer for more details.
American Silver Eagle coins are the only legal-tender, pure silver coins issued by the United States Mint that are salable at market value. Authorized by Congress in 1985 and first minted in 1986, Silver Eagles are .999 fine silver and are produced at the United States Mints in Philadelphia and San Francisco. They weigh one troy ounce, are 40.60 millimeter in diameter and have a face value of $1.00.
On one side, the coin depicts Adolph Weinman's “Walking Liberty” design, adapted from U.S. quarters and half dollars, while the reverse side displays the “Heraldic Eagle” design by John Mercanti.
“We proudly trade in silver products from the United States Mint, the Royal Canadian Mint, the Perth Mint and mints all over the world,” Hanlon says.
For more information on Dillon Gage Metals, please visit http://www.dillongage.com/metals or phone 800-375-4653. Follow Dillon Gage on Twitter @DillonGage, on Facebook at facebook.com/dillongage or the Dillon Gage Metals Blog: dillongageblog.com. For the Dillon Gage Metals Smartphone App, visit the iTunes store (https://itunes.apple.com/us/app/dillon-gage-metals/id586486914) or Google Play (https://play.google.com/store/apps/details?id=com.dillongage.metals).
About Dillon Gage Metals
Dillon Gage Inc. of Dallas (http://www.DillonGage.com) was founded in 1976, and its companies include:
•Dillon Gage Metals, (http://www.DillonGage.com/Metals) is one of the largest precious metals dealers in the U.S. 800.375.4653
•FizTrade Online Trading, (FizTrade.com) offers real-time trading for bid and ask markets for gold, silver platinum and palladium. 800.375.4653
•Diamond State Depository LLC, (DiamondStateDepository.com) is a secure and insured precious metals and certified coin depository outside Wilmington, DE. 888-322-6150
•International Depository Services of Canada Inc., (IDSofCanada.com) is a secure and insured precious metals and certified coin storage facility near Toronto. 855-362-2431
•Digital Metals, (DigitalMetals.com) is responsible for delivering advanced tools and technologies that enable dealers to be more successful in their businesses. The company offers cloud-based solutions for physical precious metals built upon the Digital Metals Platform.
Media Relations Contact: