First it was the US Mint gold coins.
Back in November, American Eagle gold coin sales were the strongest in 14 years as uncertainty surrounding the U.S. fiscal crisis and the presidential election triggered a spike in purchases.
Now it’s silver’s turn.
The U.S. Mint just sold out of its 2013 silver coins last week. We’re talking 6,700,000 ounces of Silver Eagle coins sold between Jan. 7, and Jan. 15. Until this year, the all-time high was 6,422,000 ounces, set in January 2011.
The Mint said they would resume sales around the week of Jan. 28, after it mints more coins.
To some investors, this may have come as a surprise. But this is nothing new, folks.
If you live in America, then you know all too well that the dollars in your pocket continue to lose their value… that the Fed has been given the green light to continue their money printing scheme… that the government continues to run up unsustainable budget deficits… and that our national debt levels have reached critical levels…
As economist and president of Euro Pacific Precious Metals, Peter Schiff puts it, “It’s becoming painfully obvious to more and more investors that precious metals are a better savings alternative than zero-interest bank deposits. For many of these first-time buyers, silver bullion coins like U.S. Silver Eagles are one of the easiest, most reliable and most cost effective means to get precious metal exposure.”
Clearly, the time to act is now.
If you haven’t already done so, I suggest you look up your local precious metals dealer and pick up some physical gold and silver bullion immediately.
If they’re sold out of US mint coins, Canadian bullion is just as good.
Gold and silver ETFs are another option to gain exposure to this growing market as well. The SPDR Gold Trust ETF (GLD) and iShares Silver Trust ETF (SLV) are excellent choices as they back their shares with physical bullion held in vaults at HSBC Bank USA and JPMorgan Chase Bank in London, respectively.
Without a doubt, over the last few months’ precious metals have been gaining popularity once again. I believe we’re going to see a strong 2013 as a result.
Stay long gold and silver.
for Top Stock Millionaire