Silver Prices
iShares SILVER TRUST ETF
NYSE: SLV
May 21
no chart
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Last price21.62Prev Close22.28
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Change-0.66% Change-3.1%
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Open21.50Volume21,234,700
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Day Low21.32Day High21.85
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Bid21.63Ask21.65
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52 Wk Low21.4052 Wk High33.93
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Market Cap82,029ExchangeNYSE
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How to Buy Silver Coins
Silver is one of the hottest investments this year, leading many investors to ask how to buy silver coins before the white metal soars to new highs.
Indeed, investors have been buying silver coins at such a rapid pace, the U.S. Mint announced Jan. 17 it had sold out of 2013-dated American Silver Eagles - just 10 days after opening sales to authorized dealers.
Opening day sales for the hugely popular bullion coins on Jan. 7 hit a record 3,937,000 coins. The tally of total sales over the 10 days the coins were available exceeded 6 million.
Sales resumed Jan. 28 after the Mint replenished its inventory, but on an allocated basis with limited orders. The Mint used the same method in 2009 and 2010 when demand among people buying silver coins also outstripped supply.
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Investing in Silver: Price Dip is a Good Time to Buy
Good news for those investing in silver: The price slump is ending, making now a good time to buy.
Silver prices have slid since the start of 2013, and the white metal's down nearly 9% so far this year. Silver, which had hit a record high of $49.79 an ounce in April 2011, was trading for $29.36 Tuesday afternoon.
That leaves plenty of room for prices to climb - and plenty of profit for investors who buy on the dips.
Money Morning Global Resources Specialist Peter Krauth said recent weakness in gold and silver prices "has created a great opportunity for true contrarian investors" to add to their positions.
"We may not have hit the absolute near-term bottom, but I think the odds are good that we're pretty close," Krauth said as the sell-off accelerated in February.
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Jim Rogers: Hold on to Your Gold and Silver Coins
Legendary investor Jim Rogers sees now as a great time to load up on gold and silver coins - and he's not alone.
A record 7.5 million ounces of silver coins were sold in January as investors hunted for a safe haven investment.
"You can't get [silver coins]. They sell out," Rogers, who owns a rare 2013 silver coin, said on Yahoo! Finance's "The Daily Ticker." "Several mints have run out of coins because everybody's worried about the future of the world."
And 150,000 ounces of American Eagle gold coins were sold in January, the highest monthly total since July 2010.
"Gold has been up 12 years in a row which is extremely unusual for anything," added Rogers. "A lot of speculators are rushing into gold right now. I'm not rushing into gold, but I'm certainly not selling it. If it goes down, I'm buying more."
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GFMS: Silver Prices to Climb 38% in 2013
The world's most respected precious metals consultancy, Thompson Reuters GFMS, came out last month with its 2013 forecast for silver prices.
After being bearish on silver prices over the past few years, GFMS has come around and predicted a good year for silver investors in 2013, with gains as high as 38%.
Philip Klapwijk, global head of metals analytics for Thomson Reuters GFMS, said "a rebound in investment demand stemming from continuing loose monetary policies is expected to drive silver prices towards and possibly over $50 during 2013."
Klapwijk said buyer interest may not match that of 2011, but it will rise compared to 2012.
"We wouldn't be surprised also if silver's gains outpaced gold's, not only as the usual result of lower liquidity but also as memories of early 2011's painful losses (in silver) continue to fade," said Klapwijk.
Here's why silver could be the precious metals star of 2013.
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How to Buy Silver: The Best is Yet to Come in 2013
While gold, with its sky-high prices, gets most of the media attention, investors should be just as interested in how to buy silver.
Silver turned in a solid performance in the second half of 2012, rising from a June 28 low of $26.13 an ounce to its recent reading above $33.00. And, to steal a line from poet Robert Browning (or, if you prefer, Frank Sinatra), "the best is yet to come."
At least that's how Money Morning's Global Resources Specialist Peter Krauth sees it. He thinks the "poor man's precious metal" should set a new all-time nominal price record in 2013, potentially moving as high as $54.00 an ounce.
Krauth cites four factors in making this prediction:
- The continued high reading in the gold/silver ratio, which indicates silver is undervalued relative to gold based on historical norms.
- The prospect that four more years of President Barack Obama's policies will prove inflationary, devaluing the U.S. dollar and thus boosting the prices of hard assets like the precious metals.
- Growing investment demand as more fund managers purchase the metal to back a growing number of new exchange-traded fund (ETF) offerings.
- A continuing increase in industrial demand for silver, which is used in everything from solar-power generation and water purification to hygiene and specialized medicine.
Here are a few tips on how to buy silver.How to Buy Silver
As we told you in last week's story on how to buy gold, purists view holding actual physical precious metals like gold and silver as the only true means of hedging against inflation and gaining an effective long-term store of value.
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It's Not Just Investor Demand Pushing Silver Prices Higher
You've heard that silver prices are expected to increase amid growing demand for the precious metal, as investors worried about central bank and government spending policies seek alternatives to stocks.
Money Morning Global Resources Specialist Peter Krauth said in his 2013 silver price forecast that the white metal, which closed at nearly $33 an ounce Wednesday, could hit $54 an ounce next year.
In fact, Krauth said he likes to think of silver as "gold on steroids."
But investors have largely overlooked another key factor that will contribute to higher silver prices over the next couple of years.
That's global industrial demand for silver, which will start to take off in 2013.
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