Silver Bugs Do It on Wall Street

The U.S. Mint has set the first weekly allocation of the American Eagle silver coin at four million ounces. Two million coins were sold on Monday, i.e. the first day of the 2016 sales.

Furthermore, the Mint said that the demand remains strong because the spot price of silver was the lowest for more than six years - $ 13,60 per ounce. At the time of writing, February 18, the spot price has risen to $ 15,25, and you have to pay $ 19,75 for one American Silver Eagle in Oslo, i.e. NOK 175 (buying 500 coins the price will be NOK 168). A nice premium for the wholesale dealers.

Silver Bugs
The silver bugs crawled out of the woodwork  to get their share of the white metal, but as always, the reasons for a buying frenzy are more than one. As mentioned by the Mint, low price is one reason, investment another and a general fear in the Western World a third reason. The fourth reason, not mentioned by any media, is the possibility that some of the 3.5 TRILLION dollars in the Fed’s “stimulate the banks program” are now seeping into the economy.

    Overpayed CEOs have more than enough money to spend, so why not spend some of their bonuses on monsterboxes of silver coins? Just in case… You never know when the next economic meltdown will occur and paper money becomes colourful toilet paper.