SILVER TODAY
The pandemic made many changes in our lives including the rise of silver as an investment. Although slow at first, an unexpected market began to grow for bullion coins as well as for those simply laying aside the old 90 percent silver issues from before 1965.
Although the price of silver has remained below $20 per ounce for some time, the price of silver eagles (the one-ounce bullion pieces issued by the mints) has gone up dramatically. A silver eagle which would have cost about $20 is now above $30, another mark of the pandemic that is still with us.
The TV channels that feature silver bullion coins, such as the silver eagle and 2021 Morgan and Peace dollars, are a mixed bag. The modern pieces grading MS–70 have hefty premiums attached but there is doubt that such high prices will hold up long term.
The demand for the special 2021 Morgan and Peace dollars, as well as the modern silver eagles, has spilled over into other areas of the silver world. Ordinary common-date Morgan and Peace dollars, which have a current melt value around $16, presently retail in the high 30s. Pre–1921 Morgans bring a better price and generally do better than the Peace dollars.
Even the common 90 percent minor silver coins are doing well. The premium appears to be about seven dollars over spot. The market is strong across the board for minor silver.
An ironic feature of the strong silver bullion market is that the spot price for silver remains under $20.