BY JEFFREY LEWIS
December 3, 2013 • Reprints
Gold and silver have a 6,000 year history for their use as a currency, and until the last century, the price of gold and silver maintained a healthy valuation ratio of 1 ounce of gold to every 15 ounces of silver.
This purchasing power ratio is strengthened by the fact that there are 17 ounces of silver for every 1 ounce of gold in the earth’s crust, although physical silver stocks have dwindled as the metal is used in a wide variety of industrial applications. More…
By Charlotte McLeod
Silver recorded its worst price since mid-August last week, and unfortunately for fans of the white metal, this week brought no improvement.
The week began promisingly enough, with silver sitting at $19.76 per ounce, up from last week’s low of $19.54, early Monday morning. However, by the end of the day, “favorable US scheduled data” had pushed the precious metal to $19.21, as per Capital Trading Group. Also undermining the precious metal were “adverse currency market action” and “noted weakness in platinum and copper prices.” More…
By Mark Ferguson
I was recently involved in a discussion with a collector about historic coin market trends. He was fascinated with this history which gave him new insights into the areas he’s now collecting. Therefore, I thought more people would be interested in a short background of the coin market during the past half century – since the early 1960s.
Prior to that time the U.S. coin market was stable. During the 1950s the country returned to normalcy after the tumultuous World War II era. Coin collectors could find some wonderful coins in circulation and from banks. Remember, silver coinage was still in use during that time. One of the major motivations for collecting was that people could pick out coins worth more than face value. More…
GoldSilver.org Issues Scam Alert after Fake Gold, Silver Eagles Surface on Infamous Bitcoin-Based Site Silk Road
GoldSilver.org spokesman John Whittaker says overseas counterfeiters are using real gold and silver to craft replica American Eagle bullion coins, reports “America’s Gold & Silver Dealer”.
Tech-savvy gold and silver dealer GoldSilver.org has issued a scam alert to investors after photos of counterfeit silver Eagle bullion coins surfaced earlier in the week. Packages of 10 coins each were listed for sale on the “deep web” site Silk Road for 0.72 Bitcoins. While users can buy some legal items on Silk Road with Bitcoins the majority of the site’s products and services are illegal. “In certain instances the coins are 24-karat silver but the design has been forged,” said GoldSilver.org spokesman John Whittaker. “Other times the coins are merely silver-clad.” More…
Silver News Today – Dec. 6 2013
Thats it for this edition of Silver News Today. Leave a comment for me and let me know if you like this type of category and format on the Silver Eagle Review Blog.