1 oz Silver
Silver is sold by the troy ounce because it is a widely accepted unit of measurement for precious metals. The use of troy ounces to measure silver dates back centuries and is deeply ingrained in the precious metals market.
The troy ounce is a convenient and practical unit for measuring silver for several reasons:
Historical Tradition: The use of ounces to measure precious metals, including silver, has a long history dating back to ancient civilizations. It has been used in trade and commerce for centuries and continues to be the standard unit for precious metal transactions.
More people are buying precious metals as a store of value to hold in lieu of cash.
There are a lot of reasons why silver is superior to gold, beyond the most obvious.
Although silver is up over 100% since the start of the pandemic, most believe there is much more upside potential with silver relative to it’s current value.
Keeping up with investors demand has been a difficult task for the US Mint. The pandemic lockdowns caused a total shut down of mint operations, forced mine closures and caused other widespread disruptions throughout industrial supply chains.
Problems for the Mint only got worse as investor demand for bullion investment coins skyrocketed because of the pandemic. For a few months, the minting of Silver Eagle coins was secretly shifted to the Philadelphia Mint for the first time in history as backorders began to pile up.
The US Mint continues to be slow and unable to meet investor demand.
The failures of the Mint and their planchet suppliers have led directly to significant increases in dealer premiums in recent weeks. This week, the lowest dealer premium for silver eagles is more than 60% over spot price.
Some dealers, such as APMEX and JM Bullion are currently selling silver eagles with premiums at over 88% above spot price.
Current backlog for some orders is reportedly extending out 7 or more business days. In addition, they are temporarily limiting new orders to over $500.
Money Metals Exchange has also stated that customers should expect order delays of up to an additional 1 to 2 business days.
The Intaglio Mint creates unique and thoughtful designs that inspire thinking. The latest silver bullion medals are available with incredible high-relief compositions that are minted in limited quantities of pure .999 fine silver.
The current year premier series from the Germania Mint depicts Germania as a brave woman that is the guardian and protector of her nation.
Smart, lower silver premium alternatives to help lower dollar-cost average
Not long ago, the idea of prepping, and having the tools to survive in the event of a disaster seamed pretty far fetched.
These coins carry a legal tender face value in their country of origin, are backed by government guarantees of weight and purity, and are widely recognized in the global precious metals market.
