American Silver Eagle Supply And Demand

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Author	Replies: 6 / Views: 2,697
bobby131313 Forum Dad United States 24154 Posts	Posted 05/29/2008 10:35 am American Silver Eagle Supply and Demand Record gas prices and climbing food costs combined with the eroding the value of the dollar, have pushed the American Silver Eagle $1 bullion coin to more than $20. Demand for the Silver Eagle, which is one ounce of 99 percent-pure silver, has become such a popular option for investors that the U.S. Mint can't keep up with demand and has limited sales. The mint has already sold about 7.6 million of the ASE coins in the first quarter of 2008 alone. Typically the annual mintage is between 8 million and 9 million coins per year. "I think the 2008 Silver Eagles aren't going to be scarce, they're just going to be expensive because everyone wants one," said one bullion dealer. Despite the large number of silver coins in the market, the mint, a bureau of the U.S. Treasury, sent a memo to dealers last month stating that it would limit allocations to distributors. Quote: The letter said: "The unprecedented demand for American Eagle Silver Bullion Coins necessitates our allocating these coins on a weekly basis until we are able to meet demand." Silver closed Wednesday down 45 cents to $17.38 per ounce on the New York Mercantile Exchange. But prices have doubled in three years and a case of 500 coins now sells for close to $10,000. The mint has authorized only 13 buyers worldwide who can directly purchase the coins. The mint charges the going price of silver, plus a small premium, to this select number of brokerage companies, wholesalers, precious-metals firms, coin dealers and banks. One of those buyers, Coins 'N Things Inc. in Bridgewater, Mass., said it has seen demand double compared to last year. Read Full Story \| All Recent News Shop CCF Members on eBay. Report this Post to the Staff

Hollywood Pillar of the Community United States 1228 Posts	Posted 05/29/2008 2:02 pm Im a ASE fan I have been collecting them since 1998-present I hope silver rises above $50.00 an oz in the near future. Report this Post to the Staff
ceaton Pillar of the Community United States 1179 Posts	Posted 05/29/2008 3:17 pm Wow, $50 oz. I can see maybe $30ish Report this Post to the Staff
st3rling Valued Member United States 90 Posts	Posted 05/29/2008 4:55 pm If we see $50.00 an oz for silver, you probably won't want to see what everything else is costing around you. For example, there has historically been a silver ounce and gallon of gas ratio of 5:1. It still holds true today, more or less. That would mean...yeah, ouch. From everything I've learned, silver seems to be more of a wealth preserver, than a wealth creator. If there was an economically feasible situation that placed silver at $50/oz, but everything still cost close to what they cost today, I'd love to hear it, cheer it on, and pray for it! Any ideas? Report this Post to the Staff
inacoffeebuzz Valued Member United States 204 Posts	Posted 05/30/2008 10:39 am I've been a collector of ASE's since 1992. I hope silver plummets to $10 an ounce (or less) - I don't know about the rest of you, but I prefer to pay less rather than more for the coins I collect. Unless you are thinking of cashing out, I don't see why any collector wants to see metals continue to rise . Report this Post to the Staff
scmoore61 Valued Member United States 487 Posts	Posted 05/30/2008 11:14 am In the not to distant future silver at $50 an ounce will be cheap. Buy all you can now because it will never cost less. Report this Post to the Staff
small change Valued Member United States 69 Posts	Posted 06/02/2008 09:29 am Just a hunch, but I think we will get one more opportunity to buy silver in the 15.00 range then much higher by winter, again just a feeling but I will look to buy more in the 15.00 range. Report this Post to the Staff
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