At exactly 8am New York time on Thursday, silver was set on a frenetic course that took prices to almost $21 per ounce. The session closed with the price of silver at $20.81 an ounce four per cent higher for the day and with a high volume.
Silver prices smashed the $20 an ounce resistance and reached three-month highs as the market released all its dynamics following the FOMC statement releases. Traders were obviously disappointed after the Fed’s announcements, and decided on a synchronised purchase attack on both silver and gold, with the yellow metal also soaring over 3% higher, breaking the $1,300 per oz. barrier.
The market reaction is really no surprise for technical analysts who had anticipated a rally for silver starting at $19.20-$19.30 an ounce, this actually being a take-off price for the white metal, with no strong resistance before the $22 an ounce highs.
Silver Britannia coins now a great option
Waiting for the market to absorb current prices it is a great idea to stock up your portfolio with silver Britannia coins.
The inspiring one ounce 2014 0.999 fine silver Britannia is an excellent choice: measuring an impressive 38.61mm in diameter, it the largest silver bullion coin available to investors. The new specifications combined with the original 1987 “Standing Britannia” design by award-winning sculptor Philip Nathan bring new life to this magnificent coin.
The standing Britannia was first used on the florins of Edward VII from 1902 to 1910, and was originally engraved by G.W. De Saulles. The current version was introduced for the gold Britannias in 1987, and features on the silver Britannias in 1998, 2000, 2002, 2004, 2012 and the new high purity Britannias of 2013 and 2014.
Britannia silver is comprised of 95.84% silver with the balance usually made up with copper. The silver coin standard was introduced through an Act of Parliament in 1697.
Like all things new, high purity Britannias will appeal to some more than they will to others, but it is certain that the Royal Mint’s policy makes the whole Britannia series more numismatically interesting and collectable.
Silver collector’s coin
Britannia coins baring one year alternate designs attract the collector’s attention and claim astonishing prices in the secondary market. Britannia’s image is steeped in history, having featured on a coin of every British monarch since the reign of Charles II. There are only two issues of Britannia coins (2003, 2010) that feature a head portrait of Lady Britannia.
The 2003 1 oz. silver Britannia features the first Britannia head design, and it is one of the rarest coins of the series; it is usually found as part of a four-coin set, while the price for an individual coin is at least 3 times over the current spot price of silver. The stunning 2003 reverse design, also engraved by sculptor Philip Nathan, depicts Britannia wearing a helmet in her brave defence of British shores. The design is further enhanced by a mighty rolling wave, symbolising Britain’s proud naval history from Alfred the Great to the present day.
Buy the 2014 1ounce Britannia at the amazing price offered by coininvest.com for its great investment and collective value.