The soaring spot market prices for silver and gold prompted CNBC to televise four reports from the bourse floor of the Santa Clara (California) Coin, Stamp & Collectibles Expo on Friday, April 15, 2011, opening day of the recent three-day show.
CNBC reporter Jane Wells told viewers: "The general consensus is people are buying gold for protection and buying silver for appreciation."
She and anchors in the CNBC studios in New Jersey pointed out in the broadcasts that (as of April 15) gold prices had increased over 28 percent and silver over 130 percent in the past year, and "opened up a whole new market for coin collectors and buyers."
"Everybody wants to buy silver," said Santa Clara Expo General Chairman Ronald J. Gillio in one of the interview segments. "I travel around the world buying and selling, and everywhere in the world people want to buy silver right now."
Dealer Bob Higgins of Certified Assets Management in Wilmington, Delaware told Wells he sold out of his silver coins during the first hour of the Santa Clara Expo.
"A gentleman came over, got excited, priced everything in the showcase and bought it all; over $45,000," Higgins said.
Mark Teller of M. Louis Teller Numismatic Company of Encino, California told Wells about the strong demand for Chinese gold coins and that a decrease in premiums for U.S. gold may be making rare U.S. coins a better value now.
A division of Collectors Universe, Inc. (NASDAQ: CLCT), the next Santa Clara Coin, Stamp & Collectibles Expo will be held November 18 – 20, 2011 in the Santa Clara Convention Center. For additional information visit online at www.SantaClaraExpo.com or call (805) 962-9929.
