What is going to happen next with regards to precious metal prices? It’s a question that financial experts and market commentators are struggling to answer. Everything from the crisis in Greece to the strong American Dollar is affecting the price of gold and silver right now and nobody knows what is going to happen next.
There are a few things to suggest that investors are turning to silver though.
Like gold, silver currently sits at a 5 year low price, costing £9.52 per ounce – down from its high price of £27.46 in April 2011.
And yet demand for silver coins is rising. Earlier this month the US Mint announced that it had sold out of 2015 silver bullion coins due to “significant demand”.
The Royal Canadian Mint is also reporting higher silver sales, selling 8.5% more Silver Maple Leaf coins in the first quarter of 2015 compared to the same period last year. The boom is not confined to North America though as India imported $342.37 million worth of silver in June this year – over 60% more than the same month a year ago.
So demand is strong, but what about supply?
Quite simply, supply is down. Canadian silver mine output has reduced almost 20% year on year and the US is recording contracting production during recent months.
Those simple supply and demand mechanics could be attracting large numbers of investors to silver coins. You should try to beat them to the punch.
Do you have silver coins in your Portfolio? There are four coins that I would recommend for you right now. Just click on any of the coins below to find out more.
- The Princess Charlotte Silver Proof £5 – Just 25 left
- The Battle of Waterloo Silver Proof £5 – Comprising stunning full colour design on the reverse
- The Canadian $100 Pure Silver Proof Horse Coin – Sold out its 45,000 edition limit at the Mint
- The Silver Kilo Proof Kookaburra from Perth Mint – A kilo of pure silver, limited to just 500 coins