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SILVER DOMINATING AUCTION MARKET
Dick Johnson submitted these thoughts on silver and the auction market.
-Editor
Silver hit a high of $37 at mid-week as auction houses are flooded with antique silver consignments. I subscribe to Artifact.Live Auction Alerts and Friday set a first time example of all seven auctions featured this day contained silver objects, often shoehorned in with books or paintings. Grandma's silver teapot is brought out of storage to be rendered into cash. It seems every silver item is sure to sell as investors are buying at the inflated price. Most think silver will rise to $50 an ounce. Unlike the Hunt Brothers silver boom of the 1980s in which they attempted to corner the world market for the metal, this is broad based demand caused by uncertain economic times.
Obviously this is affecting the price of silver coins. I have witnessed common date
silver dollars rise from $9 to $29 at my local coin club over the last few years.
You pays your money and you takes your chance.
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