Silver's Low Price Likely To Spur Holiday Coin Buying
Numismatic silver coins and smaller gold coins are likely to sell like hotcakes as the holidays approach. Those items are generally popular gifts, but this year will likely be even more in demand due to low metals prices.
November is nearly at an end, and for silver market participants, that's probably a good thing — though the white metal is up 0.15 percent for the month, it hit its lowest price since February 2010 early on. Already, it's looking like December may be brighter, with Kitco News reporting Wednesday that numismatic silver coins and smaller gold coins are likely to sell like hotcakes as the holidays approach. According to the news outlet, those items are generally popular gifts, but this year will likely be even more in demand due to low metals prices. Unfortunately, the most popular coins — the US Mint's silver American Eagles and the Royal Canadian Mint's silver Maple Leafs — are currently on allocation. That means there aren't enough to give dealers as many as they'd like. Kitco News quotes Peter Thomas, senior vice president at Zaner Precious Metals, as saying that the supply gap is likely the result of the mints being "thrown off after the slow demand earlier in the year." Investors looking to buy physical silver on the cheap should thus be aware that availability may prove an issue. Junior company news The US Thanksgiving holiday often makes for a slow news week for commodities, but the silver space has definitely seen some activity. Here's a look at a few companies that have put out news in the last few days. Monday saw acquisitions and exploration company Mines Management (NYSEMKT:MGN) release its financial results for the third quarter of 2014. The company reported a net loss of $1.5 million, slightly less than the $1.8 million it recorded in the year-ago period, on the back of a decline in operating expenditures.