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Silver Eagles starting to take wing

While pundits are complaining about a recent flash silver crash, buyers of silver American Eagle bullion coins seem to be using lower prices to stock up.

Once again silver is trading this morning below $16 an ounce, according to the Kitco website.

The $15.90 current price is below where the precious metal began the year.

But look at July Eagle sales numbers from the U.S. Mint.

We are not yet halfway through the month and already sales are higher than they were in the entire month of June.

The 1,290,000 figure is 304,000 more than June’s 986,000.

For that matter, the July number is bigger than the April number of 835,000, or February’s 1,215,000.

Without really trying, July has already surpassed three months out of the past six.

Is something afoot?

It is too early to know.

But we are anxious to find out all the same.

It might be fun to daydream about $50 or $100 silver.

The stark reality is those numbers will be a long time coming.

It might not take 31 years for silver to return to the vicinity of $50 as it did in 2011 after the 1980 high, but don’t plan to spend big profits soon.

They won’t be there.

We have a trader’s market.

Buy on the dips.

Keep your eye on your main purpose.

That purpose is 10 percent of your investable funds in precious metals.

Whether it is all silver or all gold, or a combination of the two, stick to the game plan that you have laid out for yourself.

Better yet, be a collector and use the summer doldrums and dealers' low cash flow to cherry-pick quality coins made of silver from your favorite coin sellers.


They might take some coaxing to bring their prices in line with current conditions, but they are creatures of cash flow.

Their businesses demand it.

You write a large enough check and you will get a better price.

Now is the time to be a buyer, at least that is what silver Eagle sales numbers are hinting at.


Buzz blogger Dave Harper has twice won the Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."

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