ST. LOUIS, MO (KTVI) – The demand for silver coins and bars is stronger than ever.
Clay Teague, of Scotsman Coin and Jewelry on Olive, explains why the demand for silver is so great currently.
Silver is currently at a five year low in price, at just $14.80 an ounce. The reason the prices are so low is because of the continued strength of the US dollar, less industrial need with the slowdown in manufacturing around the World, and the possible federal interest rate hike.
Most bullion brokers are advising dealers who order large quantities of silver products that there is a 2 to 3 month waiting period from ordering date to delivery date. This situation had been going on for several weeks now, and Teague expects the shortage of physical silver to last well into 2016
For more information,
Scotsman Coin & Jewelry
11005 Olive Blvd.
St. Louis, MO