Tuesday, February 1, 2011

Silver Investing - January 2011 Totals For Silver Eagles

When I last checked on Silver American Eagles produced in January, the total was at 4,724,000. This was toward the end of the month and with no updates from the U.S Mint for several days, I thought that may be the final figure. Checking today to see if they repeated their December ploy of reporting a large amount on this first day of February (rather than including them in the previous month), I couldn't believe my eyes. 6,422,000 Silver Eagles for January's total!!!

They also reported 50,000 more on this first day of February. So the year-to-date total stands at 6,472,000. That is a huge, record-setting number. It looks like they are taking the increasing demand for Silver Eagles head-on. That's a good thing. Because if they ever decide to throw in the towel and stop offering these popular silver bullion coins, the premiums will skyrocket for the Silver Eagles already in existance. To prove that silver really is the poor man's gold - in 2010, the U.S. Mint sold nearly 30 times as many ounces of silver as it did ounces of gold.

I have a few short articles you may find of interest by two of my favorite precious metals experts. The first is a King World News Blog entry with information provided by James Turk and can be found at Gold & Silver Have Reached An Important Bottom. The second is also a King World News Blog with information provided by Eric Sprott where he talks about $50 silver and $2150 gold. You can find it here.

Before I close, there is one piece of information I forgot to include in my post on Mercury Dimes. If you decide to invest in 90% silver dimes, keep in mind that it takes approximately 14 dimes to equal one troy ounce of silver. So don't go overboard on what you pay for them if you decide to invest.

Thanks for reading.

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