2013 Silver Eagles Already Sold Out
Reuters reported that coin dealers are cautious and skeptical that demand in upcoming months will be comparable to what has been seen over the past couple weeks.
“There is always a big boom in the new year when the new issue comes out, and you will see a drop in the next month,"said Miguel Perez-Santalla, vice president of online precious metals exchange Bullion Vault.
“With the U.S. Mint reporting notable sales volumes last November - when the U.S. held elections - and again this month when U.S. fiscal issues are at the forefront, it is easy to infer that some element of the fear trade may be at play. But we do not see much indication that this is indeed the case, and we view the chunky sales of American Eagle coins more a function of seasonality than anything else,” said UBS.
The firm is putting the sales and the theory of strong safe haven demand to the test of time.“It is important to keep an eye on U.S. coin sales in the coming months to see if volumes remain elevated as the debt ceiling showdown plays out," UBS added. Authorized purchasers were advised that the Mint expects Silver Eagle sales to resume on or about the week of January 28,2013. Securities Disclosure: I, Michelle Smith, do not hold equity interests in any companies mentioned in this article. 2013 Silver Eagles Already Sold Out from Silver Investing News
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