Gold and Silver News

While there is continuing debate in the Survival-Prepper circles about the value of having silver and gold bullion, and silver coins for melt or barter value on hand for when the dollar or economic collapse occurs,....and it is apearing more and more likely that it is a question of "when" and not "if",........it is still a good idea, even if you do not subscribe to having precious metals, to keep on top of what is occuring in the gold and silver market.   

American Eagle gold bullion coin sales jump, by Kerry Hall, March 9, 2013 on www.mining.com

The US Mint sold 80,500 ounces of American Eagle gold bullion coins during February compared to 21,000 ounces the previous year in that month for a 283% increase, reports Mineweb.

In the first two months of 2013, sales were up 56% compared to the same period last year.

Overall, total gold coin sales for January and February were 430,500 ounces. During the same months last year, sales were 124,500 ounces.

January 2013 made the record book at sixth place with gold coin sales of 124,500 ounces.

For American Eagle silver bullion coins, reported sales were 3,368,500 ounces during the second month of the year. That's 126% more than the same month last year.

For January and February, silver coin sales were 10,866,500 ounces — up 43% from 2012 when 7,597,000 ounces were sold.

Will we see a silver breakout in 2013? from the Gold Report, March 13, 2013 on www.mining.com

Silver has been trading sideways so far in 2013, but what will the rest of the year bring? Will 2013 be the year silver prices break out or crash and burn?

What is a sustainable silver price for mining companies and where will the metal come from to supply the next generation of industrial and investment demand? Most important, how can investors make money off this volatile sector?

These were the burning questions The Gold Report took to analysts, money managers and heads of silver mining companies. The answers may surprise you.

One of the world's biggest silver investors, Eric Sprott, pointed to the availability ratio between silver and gold for why the metal price could jump from $30/ounce ($30/oz) to as high as $200/oz as he predicted in a recent radio interview.

He quotes statistics that show once the industrial use of silver and gold is subtracted from the production and recycling new supply calculations, three times more silver is available for purchase each year than gold. However sales of gold and silver at the U.S. Mint, through exchange-traded funds (ETFs) and Sprott's own Physical Trust, show that investors are buying many multiples more silver than gold and have been for years.

Sprott firmly believes that outsized demand in such a relatively small market ($9 trillion for gold and $150 million for silver) will result in price inflation. "We are surprised that the price of silver has remained at such a depressed level compared to gold. Historically, the price ratio between gold and silver has been 16:1. Today the ratio is 55:1, so what are the numbers telling us? We believe this is one of those times when smart investors will be well rewarded if they follow the money."