ximmy
13th January 2012, 04:59 PM
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/12_KWN_-_Silver_Eagle_Sales_Are_Exploding,_Demand_is_Shock ing_files/shapeimage_25.png
KWN has been receiving reports about extraordinary demand for American silver eagles, so today King World News interviewed one of the top gold and silver dealers in the United States about what is taking place.
Bill Haynes, President and owner of CMI Gold & Silver had this to say about the situation: “Silver eagle sales by the US Mint are absolutely exploding in January.... This could turn out to be another record year for silver eagle sales by the US Mint, maybe in the neighborhood of 40 million ounces.”
“I’m shocked by the demand for eagles. As an example we just had a buyer who picked up $1.5 million of one ounce silver eagles and that’s all he wanted -- the eagles....
People who are buying these metals are buying and they are holding on. To me this is an indication we are still in the very early stages of a precious metals bull market. This is especially the case for buyers of silver eagles, they buy and they hold. They simply do not come back into the market to sell....
....
But there is going to be a whole new tranche of buyers buyers coming into the market because more and more people are starting to realize there are no easy solutions to the problems facing the world banks and the world governments.
Investors will start to enter the market in a big way with the kind of buying we saw in 2008 and 2009. And with no retail selling we will see a big increase in premiums going forward.
As far as the secular bull market in the metal goes, I continue to believe that we are in the early stages of the second phase of this bull market. The second phase is the longest and strongest. I think phase 2 will run for years.
....
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/12_KWN_-_Silver_Eagle_Sales_Are_Exploding,_Demand_is_Shock ing.html
KWN has been receiving reports about extraordinary demand for American silver eagles, so today King World News interviewed one of the top gold and silver dealers in the United States about what is taking place.
Bill Haynes, President and owner of CMI Gold & Silver had this to say about the situation: “Silver eagle sales by the US Mint are absolutely exploding in January.... This could turn out to be another record year for silver eagle sales by the US Mint, maybe in the neighborhood of 40 million ounces.”
“I’m shocked by the demand for eagles. As an example we just had a buyer who picked up $1.5 million of one ounce silver eagles and that’s all he wanted -- the eagles....
People who are buying these metals are buying and they are holding on. To me this is an indication we are still in the very early stages of a precious metals bull market. This is especially the case for buyers of silver eagles, they buy and they hold. They simply do not come back into the market to sell....
....
But there is going to be a whole new tranche of buyers buyers coming into the market because more and more people are starting to realize there are no easy solutions to the problems facing the world banks and the world governments.
Investors will start to enter the market in a big way with the kind of buying we saw in 2008 and 2009. And with no retail selling we will see a big increase in premiums going forward.
As far as the secular bull market in the metal goes, I continue to believe that we are in the early stages of the second phase of this bull market. The second phase is the longest and strongest. I think phase 2 will run for years.
....
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/12_KWN_-_Silver_Eagle_Sales_Are_Exploding,_Demand_is_Shock ing.html