Don’t Sell Your Gold and Silver Coins: Jim Rogers

By Bernice Napach | Daily Ticker 

Gold and silver may be off their highs but that hasn’t hurt demand for gold and silver coins. Sales of silver eagle coins hit a new record last month and gold coin sales in January reached their highest level in almost 19 months.

“You can’t get [silver coins]. They sell out,” says legendary investor Jim Rogers. “Several mints have run out of coins…because everybody’s worried about the future of the world.”

Rogers, chairman of Rogers Holdings and author of the new book, “Street Smarts: Adventures on the Road and in the Markets,” tells The Daily Ticker that he “wouldn’t rush in right now” to buy more coins, but he’s not selling them either.

Rogers says he’ll buy more gold only if prices fall further (gold is currently trading 12% below its record high of $1,900).

“Gold has been up 12 years in a row which is extremely unusual for anything,” he notes.

Gold and silver, like most commodities, are priced in U.S. dollars. Rogers is not a fan of the greenback but is an owner because other currencies, such as the Japanese yen, are collapsing.

The yen has fallen to a 2-1/2 year low against the U.S. Dollar and has weakened against the euro as a result of the Bank of Japan’s aggressive easy money policy.