Silver Eagle Sales Are Exploding, “Demand is Shocking”

Friday, January 13, 2012
By Paul Martin

KWN has been receiving reports about extraordinary demand for American silver eagles, so today King World News interviewed one of the top gold and silver dealers in the United States about what is taking place. Bill Haynes, President and owner of CMI Gold & Silver had this to say about the situation: “Silver eagle sales by the US Mint are absolutely exploding in January. I think that’s an indication of more widespread recognition of the financial problems the world is facing and that’s an easy, convenient coin for investors to buy. This could turn out to be another record year for silver eagle sales by the US Mint, maybe in the neighborhood of 40 million ounces.”

Bill Haynes continues:

“I’m shocked by the demand for eagles. As an example we just had a buyer who picked up $1.5 million of one ounce silver eagles and that’s all he wanted — the eagles. The significant thing I’m seeing here, Eric, is there is next to no selling by retail customers. It would appear the gold and silver, held by the public, is in extremely strong hands.

People who are buying these metals are buying and they are holding on. To me this is an indication we are still in the very early stages of a precious metals bull market. This is especially the case for buyers of silver eagles, they buy and they hold. They simply do not come back into the market to sell….

The Rest…HERE

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