New silver market opens as Bush signs coin bill
Federal law to bolster reserves could help N. Idaho producers


Associated Press


President Bush signed legislation Tuesday to create a new market for domestic silver in government-minted coins in what could be a boon to North Idaho silver producers.

Sponsored by Idaho's two senators and U.S. Rep. Butch Otter along with members of two other silver-producing state congressional delegations, the law enables the federal government to become a net silver buyer for the first time in four decades.

It permits continued production of the American Eagle Silver Bullion Coin and the preservation of dozens of jobs in the Panhandle.

The initiative was prompted by news that the government's 730-million-ounce strategic stockpile of silver -- accumulated in the years immediately following WW II -- will be depleted this summer.

Since 1986, about 10 million troy ounces a year have been taken from the stockpile, stamped into rounds by Sunshine Minting Co. in Coeur d'Alene and then struck by the U.S. Mint into 1-ounce investment coins.

The mint is expected to buy up to 9 million ounces of silver each year to continue production.


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New silver market opens as Bush signs coin bill
Federal law to bolster reserves could help N. Idaho producers

Associated Press

President Bush signed legislation Tuesday to create a new market for domestic silver in government-minted coins in what could be a boon to North Idaho silver producers.

Sponsored by Idaho's two senators and U.S. Rep. Butch Otter along with members of two other silver-producing state congressional delegations, the law enables the federal government to become a net silver buyer for the first time in four decades.

It permits continued production of the American Eagle Silver Bullion Coin and the preservation of dozens of jobs in the Panhandle.

The initiative was prompted by news that the government's 730-million-ounce strategic stockpile of silver -- accumulated in the years immediately following WW II -- will be depleted this summer.

Since 1986, about 10 million troy ounces a year have been taken from the stockpile, stamped into rounds by Sunshine Minting Co. in Coeur d'Alene and then struck by the U.S. Mint into 1-ounce investment coins.

The mint is expected to buy up to 9 million ounces of silver each year to continue production.

<ul> ~ http://www.spokesmanreview.com/news-story.asp?date=072402&ID=s1187087&cat=se</ul>
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Naja, das ist so in etwa 1% der jährlichen Gesamtnachfrage und damit ist eher sehr vorsichtiger Optimismus angesagt. Für einen unvermeidlichen Silberanstieg sind 9 mio. Unzen zu wenig.

Tombstone

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