By The GoldMoney Dealing Desk
26 April 2011 @ 04:45 am BST
Heavy demand from small investors is resulting in shortages in popular coins such as the American Silver Eagle, and leading to premiums that are well above spot price on silver coins. As ZeroHedge reported yesterday, the American Precious Metals Exchange (APMEX) – one of America’s biggest wholesale precious metals retailers – warned of potential delays into mid-May in delivering Silver Eagles, and is now offering to pay $3 over spot for any Silver Eagle coins in any quantity.
Earlier in the year Dave Madge, director of sales at Canada’s Royal Mint, reported that sourcing silver was becoming “very difficult” owing to the buying frenzy in the metal. It’s likely that the silver price – as well as premiums on some of the most popular coins, such as the Canadian Maple Leaf and the Silver Eagle – will have to go a lot higher before holders are enticed to sell. LINK...
