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.
Legislators in Texas are leading the charge against the Federal Reserve’s monopoly on fiat money by offering an option for people to conduct business in sound money.
Physical gold and silver that would support the backing of the digital currency would be stored in a pooled account at the Texas State Bullion Depository.
Investor demand continues to drive up prices for physical silver bullion. Supply chain disruptions at the start of the pandemic led to depletions of wholesale and retail bullion inventories resulting in the prices of physical bullion become far removed from following the paper price.
The US Mint continues struggling during periods of high demand due to ongoing supply chain issues plaguing domestic planchet suppliers.
It is a good idea when storing silver at home to be prepared range of possibilities. It doesn’t take very long to fill a box or small safe with shiny metal.
So when you are investing in a safe it is a good idea to plan ahead. A good home safe can be a significant investment that you don’t want to find yourself repeating every six months to a year.
Despite the long history of gold and silver being recognized as money, many states continue to tax their citizens for the privilege of owning these metals. The notion of sales tax on precious metals investing is contentious to some and represents a line in the sand between some legislators and investors.
The American dollar system is broken. All of the major swings in the economy over the last few years that have been driven by political and policy-based initiatives have led to a decline in global trust of the American dollar. The ongoing banking crisis makes it more evident.
A 100-ounce silver bar is an investment vehicle that can be used to accumulate wealth at home while taking up only a relatively small storage space.
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.
APMEX, JM Bullion, SD Bullion and Money Metals Exchange have announced temporary changes to order and shipping policies upon an increase in order volume in recent weeks amidst the ongoing banking crisis. While premiums on silver eagles have recently risen back above 50% per coin. Lower premiums are available for other sovereign bullion coins such as Britannia, Kangaroo and Philharmonic.