How much investable silver is out there?
Posted: Sat May 25, 2013 5:59 pm
It has often been said that been said their is only 1 billion ounces of above ground of silver. While I agree that silver is under-valued, I believe this estimate is misleading as it likely cannot include 90% U.S., 80% Canadian and other circulated coins. We know that the U.S. mint has sold well over 300 million (1 ounce) ASEs. If you add in all the other sovereign issues (Maples, Phils, Libertads) and then all the coins/bars sold by all the private mints like Silvertowne, JM and our own Rodebaugh I believe we would have about 1 billion ounces. Of course this does not count the Comex "good delivery" bars and silver held in inventory for industrial use. Therefore the real number could be 1.5 to 2 billion ounces. If you disagree with my estimates, what would yours be?
My main question is how much investment silver is out there if you count these circulated sovereign coins? Are there any estimates on what percentage of U.S. 90% have melted?
Also, Which coins would count as "investment" silver? Would you omit the 10% silver Mexican peso or even the 40% Kennedy halves and the the Canadian 50% coins?
My main question is how much investment silver is out there if you count these circulated sovereign coins? Are there any estimates on what percentage of U.S. 90% have melted?
Also, Which coins would count as "investment" silver? Would you omit the 10% silver Mexican peso or even the 40% Kennedy halves and the the Canadian 50% coins?