New Silver HIGH! How much are your ATB's worth now?? RCM hurtin'

MilesWaits

What a day for silver. Keep on stacking those National Park Silver Rounds!!

I bought a single 2003 ASE yesterday ($34) for a Vietnamese friend that showed interest in my very toned ASE pocket piece, so..........

Miles

MilesWaits

From the Kitco Forums:

Silver rises to 30-year high as mints start to ration coins

full story:

http://www.ft.com/cms/s/0/7f316ac4-3...#axzz1EFjevam3

Silver rises to 30-year high as mints start to ration coins

By Jack Farchy

Published: February 17 2011 19:54 | Last updated: February 17 2011 19:54

Silver jumped to a 30-year high amid record levels of investor buying that has drained mints of silver coins.

The price of the precious metal hit $31.37 a troy ounce on Thursday, up 16 per cent since mid-January and the highest since March 1980. The world’s leading mints have reported record sales of silver coins in January and some, including the Royal Canadian Mint and Austrian Mint, have had to ration sales.

“We have sold everything we can produce in silver and have demand for at least twice that volume,” said David Madge, head of bullion sales at the Royal Canadian Mint, which produces the silver Maple Leaf coin. Silver coin sales at the US Mint and the Austrian Mint also hit record levels in January.

The surge of buying has both boosted silver prices and helped push the market into “backwardation” – an unusual condition in which forward prices are lower than prices for immediate delivery. While investors are buying, miners have been selling their future silver production to lock in gains, which has depressed long-dated futures prices.

Dealers said smaller investors saw silver as a cheaper alternative to gold with greater potential for gains as they look to preserve their wealth against rising inflation and currency weakness.

The Austrian Mint sold 1.53m ounces of its silver Philharmonic coin in January, more than double the level a year earlier, according to Andrea Lang, marketing director.

“We could have sold more,” she said, adding that the mint would boost production to 2.2m ounces in February and March.

The US Mint sold 6.4m ounces of silver American Eagle coins in January, 50 per cent more than the previous record month, and have already sold 1.7m ounces so far in February.

TWQG

<< <i>How much are your ATB's worth now?? >>



A lot less than I sold them for. I thought they were ugly and I bought gold with the profits.

Overrated

Buy silver before it hits $50,00 not if its when. As they keep spending you! should keep stacking.....