Who knew Yahoo Finance followed SilverDoctors?
Investors are becoming more interested in physical silver. According to data from the U.S. Mint, American Silver Eagle sales reached a new record of 39.8 million last year. The dramatic shift in physical silver demand is magnified when compared to U.S. silver production data. SilverDoctors explains, “U.S. silver production has declined 50 percent since its high of 70 million ounces in 1997. In 1997 American Silver Eagle sales were 3.6 million, which accounted for only 5 percent of domestic silver production. Contrasted to today, Silver Eagle sales are estimated to reach 40 million while domestic mine supply will decline to 35 million ounces in 2011. Thus, American Silver Eagle sales will be 114 percent of the total U.S. silver supply in 2011, what a difference in 14 years.”
Read more from Yahoo finance here:
SRSrocco might have just convinced a few Justin Bieber fans to buy some physical silver along with their AAPL shares with his excellent coverage of silver's domestic supply and demand fundamentals picked up by the MSM.
