Fairfax: "Soaring demand for silver coins"

goldpelican

goldpelican

Well-Known Member
Silver Stacker
Soaring demand for silver coins despite modest rise in market generally

Demand for silver coins and bullion bars in Australia has gone through the roof, not only because of increasing demand for precious metals but also because of new product launches by the Perth Mint.

Sales of the Mint's silver coins and bars jumped from 707,655 ounces in August to 3.35 million ounces in September an almost fivefold increase.

At first glance, there would be no apparent reason for such a whopping increase. Silver reached a low around $US14.13 an ounce on August 26, and a peak near $US15.50 in September a mere 8.4 per cent rise, indicative of a moderate lift in demand. It's currently about$US15.67.

The reason is, said Perth Mint Group Manager Neil Vance, that most of the world's silver is used for manufacturing or jewellery. Minted silver is a fraction of the market, with its own market dynamics, and these have been coming into play recently.

"It's a small part of the market, no doubt," he said.

The Perth Mint is Australia's official bullion mint. Along with the Royal Australian Mint, it is also one of the only two mints producing coins for legal tender, such as the 20 coin. The Melbourne and Sydney mints closed decades ago.


Read more: http://www.theage.com.au/business/m...-generally-20151008-gk44m5.html#ixzz3nz84QXp5
Click to expand...
 
goldpelican said:
Soaring demand for silver coins despite modest rise in market generally

Demand for silver coins and bullion bars in Australia has gone through the roof, not only because of increasing demand for precious metals but also because of new product launches by the Perth Mint.

Sales of the Mint's silver coins and bars jumped from 707,655 ounces in August to 3.35 million ounces in September an almost fivefold increase.

At first glance, there would be no apparent reason for such a whopping increase. Silver reached a low around $US14.13 an ounce on August 26, and a peak near $US15.50 in September a mere 8.4 per cent rise, indicative of a moderate lift in demand. It's currently about$US15.67.

The reason is, said Perth Mint Group Manager Neil Vance, that most of the world's silver is used for manufacturing or jewellery. Minted silver is a fraction of the market, with its own market dynamics, and these have been coming into play recently.

"It's a small part of the market, no doubt," he said.

The Perth Mint is Australia's official bullion mint. Along with the Royal Australian Mint, it is also one of the only two mints producing coins for legal tender, such as the 20 coin. The Melbourne and Sydney mints closed decades ago.


Read more: http://www.theage.com.au/business/m...-generally-20151008-gk44m5.html#ixzz3nz84QXp5
Click to expand...
Click to expand...

;)
 
I would have thought it was the new advertising campaign, everybody always likes something for FREE :P





sweepstakes-free-milk.png
 
See...why would they care about milk spotting? Same for the RCMs silver bullion, they are having record sales, they wont care a bit if some have some quality issues such as milk spotting.
 
Silver ... the only investment where higher demand has absolutely no affect on price.
 
Do not see the soaring demand in the U.S. Oftentimes, only the no reserve auction can attract buyers. And I doubt the sellers can make much money after fee and shipping
 
Always someone shouting from the mountain tops that we are about to run out of silver, comex is going to default, demand is greater than supply, ..... I have been hearing it forever and a day.....after a while this cheerleading just becomes noise one has to tune out.
 
Just wondering why would the Age News reporter ask the supplier (Perth Mint) as to the reason why for the increased demand without referring to the byers motivation and perspectives?
 
FlashInThePan said:
Just wondering why would the Age News reporter ask the supplier (Perth Mint) as to the reason why for the increased demand without referring to the byers motivation and perspectives?
Click to expand...

Because it is Fairfax, and their journos and editorial staff are under immense pressure to produce a certain amount of content per day.
 
You must log in or register to reply here.
Back
Top