The Daily Ticker’s Lauren Lyster interviewed commodities guru Jim Rogers Tuesday on the blistering pace of gold and silver coin sales to start 2013 by the US Mint.
Lyster began the interview by holding up a 2012 US Silver Eagle, and asking Rogers whether a USE is a collectors item, money, or simply a way to buy precious metals. Rogers responded by pulling his own ASE out of his pocket, and stating “I have a 2013! You can’t get them, can you, they’re sold out!”
Rogers stated that It worries me that the US Mint has run out. It’s not just the US Mint, the Canadian Mint, several mints have run out of coins!
Further into the interview, Rogers informs Lyster that there are no strong currencies any longer, and while the dollar will likely continue to see safe haven flows from investors who don’t understand what they are doing, there are no longer any strong currencies, hang on to your silver!
When asked by Lyster why silver coins are selling like hot cakes Rogers replied:
Because everyone’s worried. I’m not the only one who is worried about the future of the world, lots of people are.
Rogers urges caution regarding new positions however, and states that the recent surge in speculative longs on the COMEX worries him, and that he wouldn’t be buying right now.
Regarding his outlook on gold Rogers stated that he’s not rushing to buy gold right now, I’m certainly not selling, but if it goes down, I’ll buy more.
However Rogers states that there are no longer any strong currencies, and while the dollar will likely continue to see safe haven flows from investors who don’t understand what they are doing, there are no longer any strong currencies, hang on to your silver!