Silver prices may be on the way up soon. Silver futures ended last week by tracking an astounding 24% increase for the month, representing the biggest gain since 2011. As many will remember, 2011 was a time of incredible gains in silver and gold bullion prices. So, what’s driving the impressive increases in silver prices right now?
Silver isn’t just used for coins, jewelry, and tableware. It’s an industrial metal, one utilized for electrical components, photography, and medical applications. And with many nations starting to emerge from social isolation and quarantines related to the COVID-19 pandemic, industry needs silver to begin manufacturing goods again — including those requiring silver.
So, how high will silver prices go? That’s what silver speculators want to know. As we wait and see what silver bullion prices will be tomorrow, next week, or next month, silver stackers are buying pre-1965 90% silver coinage, 40% Kennedy half dollars, 35% silver Jefferson nickels, and American Silver Eagles — coins that are popular with both collectors and investors and offer exceptional liquidity.