With spot silver slumping 2.5% on Tuesday, and silver futures diving 19% for the quarter, the biggest drop since mid-2013, the falling price is bringing out the coin buyers. The 4.1 million 2014 American Silver Eagles sold in September more than doubled August’s total, and was the “highest since sales of 5,354,000 in March,” reports Coin News. “Silver Eagle sales for the year are at 32,251,000, the second quickest pace in the coin’s 29-year history.”
An Economic Times article deems silver to be a “better investment bet than gold,” given silver’s sharper fall in price, compared to gold’s, along with silver’s rising industrial demand. It also points out that the gold/silver ratio, which hit 71.2 on Tuesday, is “much above the 10-year average of 57.75 times. So the risk-reward ratio is more in favor of silver.”
Numismatic News: Patrick Heller – Silver gets cheaper relative to gold
SafeHaven: Does surging demand for gold and silver coins signal a bottom?
Zero Hedge: Why is China hoarding gold? Alan Greenspan explains