Dip Buyers Send Eagle’ Sales Soaring
Posted by Investment Rarities on October 5th 2011 in China, Federal Reserve, General Economy, Gold, Monetary Policy, Short Sellers, Silver, U.S. Congress, Wall Street | Be the first to comment!Reporting that September was the second best sales month in history for American Eagles, Coin News notes that “only 175,000 had been purchased in the first eight days and still less than 1 million by mid-month. Once the price of silver tumbled, however … sales of the American Eagle Silver bullion coin began to soar. Buyers picked up 3,534,500 in the last half of the month, which moved September sales to 4,460,500.”
And a representative of Norway’s largest coin and bullion dealer tells King World News that in addition to “experiencing longer than normal lead times for Silver American Eagles … we are experiencing a shift in purchasing behavior. It used to be that our clients bought on the way up in fear of losing their chances to buy. Now we see the opposite. People are reluctant to buy on the big increases, but once we see the dips, we see huge orders. This is a major shift. He adds that “we have seen a doubling and tripling of physical purchases into this decline.”
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