Silver Investing - Silver At $40.00 An Ounce

Silver reached the much talked about $40 per troy ounce on Friday - the highest it has been in 31 years. In fact, the spot price cruised past that figure and was knocking at $41's door, closing at $40.93 going into the weekend. As of this writing (early Monday morning CDT), silver is already up another $0.98 and stands at $41.91. Some say silver's price will not correct until it reaches $50.00.

This is good news if you already own (and have in your possession) a nice amount of physical silver but not so good if you are just starting to invest in silver. Silver is red hot now and finding a good deal is hard to locate. If you keep an eye on eBay auctions, you see some silver already being bid up to $50 per ounce and beyond. I have no recommendations on where you can buy silver cheap. Your best bet is to look for miscellaneous one-ounce silver rounds or possibly silver bars which have traditionally had a lower premium than coins.

So far in April, 750,000 Silver Eagles have been produced with the Year-To-Date total at 13,179,000.

Thanks for reading.