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Silver hits $30 milestone

This article was originally printed in the latest issue of Numismatic News.
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After teasing collectors and investors for weeks, the price of silver closed over $30 a troy ounce for the first time since March 7, 1980.

At the end of New York trading Dec. 28, silver was $30.297 a troy ounce.

“I believe that silver prices will jump by an even higher percentage in 2011 than they have for 2010,” said Pat Heller of Liberty Coin Service, Lansing, Mich.

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If he is right, that would put the precious metal above its Hunt Brothers’ $50 high in 2011. Though 2010 had not ended before this issue of Numismatic News went to press, silver was on course to finish the year up approximately 75 percent.

Heller writes a weekly e-newsletter commentary on precious metals. To subscribe, visit www.numismaster.com and sign up in the “Free Newsletter” box.

Gold also dashed higher Dec. 28, breaking through the $1,400 level again, closing at $1,405.20. This is just a few dollars below the Dec. 6 record of $1,415.30.

In 2010 gold rose by nearly 30 percent.

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