6/8/09 Silver Supply Keeps Dwindling

Precious Metals Market Analysis, By Michael Pennington (Copyright 2010 Pennco Coins)

Unlike gold, 97.5% of all silver ever mined has been consumed for industrial uses like photography, electronics and solar power. There is very little silver stockpiled anywhere in the world right now. In fact, supply is so depleted that both the US Mint and the Royal Canadian Mint are shutting down production of coins this summer. Metal blanks are very hard to find anywhere. Both of these mints are required by law to produce silver coins. So why are they halting production? Because they simply can’t get their hands on enough silver. They can print billions of dollars out of thin air, but they can’t make $1 coins because they have no silver. Nearly every ounce of silver ever mined is gone forever and irreplaceable at any price. At the same time demand for silver is soaring. As more become aware of the silver shortage, investors around the globe are scrambling to buy silver coins and bullion. The truth is that there just isn’t enough silver being mined to meet demand. Unless someone has suspended the laws of economics, this means much higher prices in the future.

HERE IS THE FIVE YEAR CHART OF SILVER…IT LOOKS VERY GOOD!

There are additional comments regarding Silver Supply under “JUICY RUMOURS” below.

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This entry was posted in Buffalo, Bullion, Coin, Dollar, Eagle, Federal Reserve, Gold, Gold to Silver Ratio, Government, Investment, Maple, Mint, Palladium, Peso, Philharmonic, Platinum, Silver, Tax and tagged , , , , , , . Bookmark the permalink.

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