Did you know American Silver Eagles can command premiums that are extraordinary in particular circumstances? Browse and discover in regards to the time when these coins had been fetching premiums up to 400% a lot more than other silver bullion coins...
I recently 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 lovely silver bullion coin. One of the five reasons I listed as a justification to buy ended up being the superb revenue potential, even with the cost of silver trading over $30 an ounce (the cost of silver has since drawn back a bit).
An incident happened that really got me excited, even more, about the investment potential of American Silver Eagles since the time I published that article.
I became in my coin that is local shop, browsing through their trays of various silver rounds. Because of the cost of silver off its present highs, I thought this might end up being the time that is perfect enhance my silver stock!
I occurred to overhear a conversation involving the coin store owner and another customer. 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 to purchasing a case or two of junk silver once I have some supplemental income."
Owner: "Junk is obviously good but i love Eagles, too. Some folks i understand made some money that is serious them straight back in '99.
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Owner: "Yeah, straight back during that Y2K scare that is whole period. When everyone else thought the planet was going to end at the stroke of midnight on January 1st. " (He laughed). "People had been having to pay prices that are crazy those coins - increase the location cost of silver!"
Bill: "You're joking?"
Owner: "I'm serious! It was crazy, guy! I guess individuals figured if the whole banking system power down or something, those silver eagles would also come in handy."
Bill: "Yeah, but why the Eagles?"
Owner: "Guess it was because Silver Eagles are so well-recognized. And that U.S. is had by them federal government guarantee."
Bill: "Man! No idea was had by me! We thought silver was silver..."
A this point within the conversation, I relocated away (lest they think I happened to be eavesdropping, LOL!). 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.
At the end of 1999, at the height associated with the Y2K scare American Silver Eagles were fetching HUGE premiums. The location cost of silver at that time ended up being around $6.50. But Silver Eagles were prices that are commanding to $12.50 an ounce!
Meanwhile, the silver that is canadian leaf coin, an similarly lovely silver bullion coin by having a greater silver purity, was only commanding rates of $7.50 available on the market.
The banking system was unable to function, the silver Eagle coin would be more readily accepted for bartering purposes like the coin shop owner said, the reason investors were more than willing to pay the huge premium for the American Silver Eagle and not the Silver Maple leaf coin was because they believed in the event!
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