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The price of silver is surging and so is business at many coin dealers across the country.
Silver prices have soared 60 percent in 2010, driven in large part by a strong investment demand, particularly strong buying of exchange-traded funds, or ETFs, backed by the physical metal. ETF demand has been an important driver of prices because investors have prepositioned themselves for this central bank buying by emerging markets
The increase in silver prices has also been spurred by a rise in industrial demand, which is up 18 percent year over year. A hike in demand for silver from solar panels and pent up demand from the industrial sector is helping to push up prices.
The strong interest in silver has created a record month for sales of the 2010 Silver American Eagle bullion coin, according to the U.S. Mint. Silver coin sales are up 22 percent compared to this period last year and 30 percent since 2007.
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