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Did you know that American Silver Eagles can command premiums that are extraordinary in certain circumstances? Browse and find out about the time when these coins were premiums that are fetching to 400% a lot more than other silver bullion coins...
Recently I published a write-up on Ezinearticles entitled, "2011 American Silver Eagle: 5 explanations why You Should Buy This Silver Coin! " extolling the virtues of the silver bullion coin that is lovely. One of the five reasons we listed being a reason that is good buy was the wonderful revenue potential, despite having the price of silver trading over $30 an ounce (the cost of silver has since pulled straight back a bit).
Since the time we published that article, an incident happened that basically got me excited, a lot more, about the investment potential of American Silver Eagles.
I was in my regional coin store recently, going through their trays of numerous silver rounds. Aided by the price of silver off its current highs, we thought this could function as the time that is perfect enhance my silver stock!
We occurred to overhear a discussion between your coin shop owner and another client. It went something such as this:
Owner: "Hey, Bill, you ordered any 2011 Silver Eagles yet?"
Bill: "Hadn't considered it. They truly are a little pricey. Thought I'd simply stick with purchasing a bag or two of junk silver when I involve some more money."
Owner: "Junk is obviously good but i prefer Eagles, too. Some folks I know made some serious cash on them straight back in '99.
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Owner: "Yeah, right back through that Y2K scare that is whole period. Whenever everybody thought the entire world was going to end during the stroke of midnight on January 1st. " (He laughed). "People had been spending crazy charges for those coins - increase the location price of silver!"
Bill: "You're joking?"
Owner: "I'm serious! It absolutely was crazy, man! I suppose people figured in the event that whole bank operating system power down or something like that, those silver eagles would are available in handy."
Bill: "Yeah, but why the Eagles?"
Owner: "Guess it absolutely was because
are incredibly well-recognized. And that U.S. is had by them government guarantee."
Bill: "Man! I'd no idea! We thought silver was silver..."
A this aspect in the discussion, we moved away (I was eavesdropping, LOL!) lest they think. I did a little research on Silver Eagles and it turns out what the shop owner told the customer was true when I got home that day.
During the end of 1999, at the height of the Y2K scare American Silver Eagles were fetching HUGE premiums. The location cost of silver at that time was around $6.50. But Silver Eagles had been prices that are commanding to $12.50 an ounce!
Meanwhile, the silver that is canadian leaf coin, an equally lovely silver bullion coin having a greater silver purity, had been only commanding prices of $7.50 on the market.
Just like the coin shop owner stated, the reason why investors had been willing to pay for the massive premium for the American Silver Eagle and never the Silver Maple leaf coin was because they thought if your bank operating system had been not able to function, the silver Eagle coin will be more readily accepted for bartering purposes!
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