New Round of Quantitative Easing and Global Economic Instability Dramatically Increasing Demand for Gold and Silver Coins and Bullion
AUSTIN, Texas--(BUSINESS WIRE)-- Austin Rare Coins and Bullion, a leading provider of investment-grade rare gold and silver coins and gold and silver bullion, announced today it has seen a significant increase in sales and revenue since the Fed announced a third round of quantitative easing (QE) – otherwise known as QE3. Within hours of this announcement, sales at Austin Rare Coins and Bullion increased dramatically. In fact, in one day alone it received several million-dollar orders and has seen the largest spike in sales in the 24-year history of the company.
“People are scared – they’re seriously concerned about rising inflation and whether they will have the money to send their kids to college or to retire,” said Ryan Denby, president and CEO of Austin Rare Coins and Bullion. “The simple truth is when the Fed prints money the value of the dollar goes down and when the dollar goes down the price of gold and silver goes up.”
For the last four years, the U.S. government has been running trillion-dollar deficits, which is why gold has performed so well. To finance this debt, it issues U.S. Treasury bonds. But countries such as China and Japan, some of the largest buyers of U.S. treasury bonds, have indicated a change in direction and have begun selling bonds, which could spell big trouble for the U.S. economy. In 2011, China sold more U.S. Treasury bonds than it ever has before—while buying gold bullion instead.
Many analysts believe silver may be a better buy than gold. Silver rose 50% after the first round of QE - twice as much as gold and 24% after QE2 - three times more than gold. With QE3, silver is expected to rise like it did after the QE1 and QE2 announcements, but maybe even more so because this time in addition to the Federal Reserve, the other central banks around the world are also printing more fiat currency.
About Austin Rare Coins
Austin Rare Coins, Inc. was founded in 1989 to serve collectors and investors. Our staff is dedicated to providing our clients with professional advice and high quality certified U.S. and foreign coins, silver dollars, and gold bullion coins at low prices. Austin Rare Coins & Bullion is a proud member of the Numismatic Guaranty Corp, the Professional Coin Grading Service, and the Industry Council for Tangible Assets. In addition, its principals are members of the American Numismatic Association, the Canadian Numismatic Association and the Texas Numismatic Association. Austin Rare Coins, Inc. has an A+ rating from the Better Business Bureau.
For more information call 800-928-6468 or visit us on the Web at: www.austincoins.com
Source: Austin Rare Coins, Inc.