- Scottsdale Calls Demand For Physical Silver “Unprecedented”!
With silver prices now back below $19 per ounce and well below the actual costs of mining the stuff from mother earth, physical demand for the white metal is soaring. On the ‘contact us’ page of the Scottsdale Silver website you will find a statement in which Scottsdale explains they have recently experienced single days in which they’ve sold more silver than they typically sell in an entire month.
Scottsdale calls current demand for physical silver “unprecedented”:
Due to massive volume of purchases all in a short matter of time, mints around the world are having to extend the estimates beyond what was originally advised. Our particular company had single days where we sold more than a typical month’s worth. We are doing our best to work as quickly as possible to provide the bullion to our customers in the order they were received. If you have placed a previous order, your metal has been purchased & locked in, and await processing by the machines/craftsman into the retail sizes as soon as possible. Scottsdale Mint Products are some of the most popular forms of bullion in the world and we greatly appreciate your patience during this unprecedented time.
According to Michael Snyder at Economic Collapse Blog, the price of silver has declined by 34 percent this quarter, making it the largest quarterly move in the price of silver in more than 30 years. “It is absolutely ridiculous how low the price of silver is,” says Snyder.
“At the moment, the price of gold is about 66 times higher than the price of silver is. But they come out of the ground at about a 9 to 1 ratio,” Snyder reminds us.
Although the pain for silver bugs over the past two years has been nearly unbearable, in “unprecedented” times like these a little perspective can help.