Foreign [Music] I'm Chuck Woolery welcome to in Conversation Over my years of working with the Amazing people at U.S money reserve my Faith in Gold has only become stronger And there's a good reason for that This week former directors of the United States meant Philip deal and Ed Moy Discuss the increase in demand for gold And bullion coins during Ed's tenure at The Met and I can tell you it's a lot Let's find out just how many coins were Struck With the financial crisis uh we had the Situation where a circulating coinage Was beginning to drop dramatically and This is you know as the economy started To slow down because of the subprime Crisis caused uh basically a liquidity Crisis among Banks so there was less People buying and selling things so you Coins lasted longer so you didn't need To replace them as much right but at the Same time uh precious metal bullion Demand started skyrocketing yes when uh When I was there and it'd be curious to Find out under your tenure when I was There the steady state of gold bullion Was about 200 000 ounces a year When I left in 2011 when my alumni term Was up it had gone up to 1.4 million Ounces a 700 really that's an amazing
Yeah that's amazing and and as you know The supply chain issues of uh you I Can't go to Walmart and buy gold Planchets to uh you know to make more Gold bullion there's a a long and Lengthy and complicated process to beef Up that supply chain same thing on Silver uh silver when I started was at Steady state roughly 10 million ounces a Year and by the time I left in 2011 it Was 47 million almost a 500 increase Right and uh so uh we still couldn't Meet demand but I felt really good that Uh we could have increased uh production By that much as well as quality because A lot of these people who ended up Buying the bullion just for the precious Metal ended up getting it graded and Found about that some of these graded Coins were like ms-70s or Museum quality Perfect So uh Rarity and quality even on bullion Has an impact on the price and the Premium over it and I think in the days Before you really improve the quality of The production of those coins despite This incredible increase in demand Before that I don't think there was Really so much of a recognition of that With bullion that was more on the Numismatic side of course where there Was such a focus on the quality visit Usmoneyreserve.com for more information On precious metals coins and precious
Metal IRAs America's gold Authority U.S money Reserve is proud to be a leading Distributor of government issue Gold Silver Platinum and Palladium For over 20 years hundreds of thousands Of clients have placed their trust in The company to help select the highest Quality and most appropriate precious Metals for their portfolios So whether you're a first-time buyer or Looking to expand your current portfolio U.S money Reserve is committed to Bringing you a superior customer Experience I'm Chuck Woolery Thank you for watching in conversation
