With gold down more than $18 per ounce and silver down more than $1 per ounce compared to just one week ago, the results can been seen in sales, said two East Coast dealers.
Kirk Kelly, owner of The Coin Depot in Greenville, S.C., has seen the popularity of silver increase over the last few days since the price dropped to $12.64 an ounce March 5.
?Silver bags have been very popular but we have had calls on just about everything,? said Kelly.
Dave Pepe with Del Greco Coins of Weymouth, Mass., said when metals where high, their inventory was high due to an increased numbers of sellers. Since the price has dropped, they are seeing more buyers.
Last week, ?the new Buffalo bullion coins were very popular, but that was probably more due to them being newly released than the price of gold,? Pepe continued. ?Silver Eagles were not selling well when silver was up, but now sales are back to normal.?
Kelly predicts despite the recent drop, bullion prices will continue to rise. ?It was just a correction on the way up.?
Pepe?s predictions were a little more vague.
?The only prediction that I can make about the future of the gold and silver is that it will continue to be volatile,? said Pepe. ?If I could predict the future of gold and silver, I would be answering this phone from someplace in the Caribbean.?
