Silver Eagle Prices: Remember When The American Silver Eagle Commanded A 400% Premium?
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Silver Eagle Prices: Remember When The American Silver Eagle Commanded A 400% Premium?
“2011 American Silver Eagle: 5 Reasons Why You Should Buy This Silver Coin” is the title of an article I recently published, in which I listed some important advantages of owning the American Silver Eagle coin. (Search for the title in Google in quotes, you’ll find the link to it).
In the article, I listed 5 top reasons to buy this lovely silver coin. One reason was the wonderful profit potential. At the time the article was written, silver was trading over an ounce. (With the recent pullback in price, now is a wonderful opportunity to buy!)
Something I wanted to touch upon in this new article is something that I think new investors aren’t aware of. And that is that the American Silver Eagle has, in the past, commanded extraordinary premiums. Premiums that went above and beyond those of other similar silver bullion coins.
Read on and you’ll learn a very interesting history lesson about Silver Eagle desirability!
In late 1999, around the time of the “Y2K” scare, many of you who are reading this article probably weren’t investing in American Silver Eagles.
And so you probably aren’t familiar with the unique situation that developed around that time.
At the time this article was written, bullion dealers are quoting a buy price for 2011 American Silver Eagles at a range from .70 to .10 for 500 oz. The buy price depends upon whether or not the box is still sealed.
This price range is about normal for a typical trading day.
This was not the case at the end of 1999. This was the peak of the Y2K scare. This was the time when many people thought that at the stroke of midnight on January 1, 2000, the financial system was going to stop functioning.
We can laugh about it now but at the time that fear was very real!
At that time, the spot price of silver was hovering around .50.
But guess what? American Silver Eagle coins were fetching prices up to .50 an oz.! It was
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