Silver-coin demand will jump more than 50% in 2011

Discussion in 'Silver Coins' started by Dynoman, Jan 18, 2011.

  1. Dynoman

    Dynoman Active Member

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    From the land of Maple Syrup cometh this prediction:

    Canada's sales of silver coins will jump more than 50 percent this year and will continue to climb in 2011, said David Madge, the director of sales at the Royal Canadian Mint.

    "Sales of silver coins for 2010 are very strong and we expect them to be at least 50 percent higher," Madge said in an e-mail, declining to give a forecast for this year's sales. The Ottawa-based mint sold 10.3 million ounces of coins in 2009, he said.

    Silver futures have jumped 59 percent in New York this year as demand rose for precious metals as an alternative to currencies. Investors have bought coins "because they are cheap," and are helping to support the price of the metal, Francisco Blanch, the head of commodity research at Bank of America Merrill Lynch, said today at a conference in New York.

    http://www.blanchardonline.com/inve...more_than_50%_in_2011,_Canadian_mint_predicts
     
  2. Precious50

    Precious50 New Member

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    Hi Dynoman,

    Great post! I think silver will boom this year as there's every reason to think so. Besides great fundamentals, it is 'fractional' compared to gold, meaning cheaper to buy so as gold booms this year people may be intimidated by the seemingly unreachable expense of gold and turn to silver. People, I think, may feel better or richer holding their silver in their hands compared to gold as it simply has more 'mass' than equivalently weighted gold. This may sound strange, I know, but when things get worse (esp in USA & Euroland) those people who have left the run a bit late will want to somehow preserve any wealth they can and will pour into silver. That's the theory anyway! Cheers, P50 :cool:
     

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