Monthly Archives: April 2012

South American Silver Corp. Declares First Closure of Financing

South American Silver Corp declared its first closure of $6.4 million on 16 April 2012. A final closing is expected to take place on or before May 11, 2012 for the remainder of the Offering. Continue reading

Comex Silver Stocks: Highest In Last 10 Years

According to the Reuters report, the U.S silver stocks hit the highest mark on April 16, 2012. A spokesperson at US exchange operator CME group that owns COMEX reached 284.28 million ounces on the day.

The analysts of the silver or precious metals market in general say that when people start preferring to get into Comex, it is because they don’t have a better option of dealing with the metal. Comex stocks become strong as a result of low premiums which indicate low global demand for the metal. Continue reading

Silver – Alternative to Paper Money

These coins were photographed at Rocky Mountain Coin in Denver on Thursday, Feb. 16, 2012 The five coins on the left were minted over a hundred years ago and have a value of thousands of dollars because of their gold and silver content. The five coins on the right were minted in the last few years and are worth their face value $1 to $25. Worried that American money is not as good as gold, Colorado lawmakers are considering a bill to legalize gold and silver coins as currency. (AP Photo/Ed Andrieski)

Legislators in the United States are showing interest in introducing alternatives to paper money in their respective constituents. More than a dozen US states have stated interest in issuing an alternative currency, particularly the debut of gold and silver coins.

When Utah’s Governor Gary Herbert signed House Bill 317 approved silver coins as legal tender it inevitably eliminated the tax on profits on coins since they were looked upon as assets. Continue reading