JIM ROGERS - All FIAT CURRENCY will be WORTHLESS in 2014. Dont SELL GOLD or SILVER
Legendary investor Jim Rogers sees now as a great time to load up on gold and silver coins - and he's not alone.
A record 7.5 million ounces of silver coins were sold in January as investors hunted for a safe haven investment.
"You
can't get [silver coins]. They sell out," Rogers, who owns a rare 2013
silver coin, said on Yahoo! Finance's "The Daily Ticker." "Several mints
have run out of coins because everybody's worried about the future of
the world."
And 150,000 ounces of American Eagle gold coins were sold in January, the highest monthly total since July 2010.
"Gold
has been up 12 years in a row which is extremely unusual for anything,"
added Rogers. "A lot of speculators are rushing into gold right now.
I'm not rushing into gold, but I'm certainly not selling it. If it goes
down, I'm buying more."
Gold and Silver Prices in 2013
While gold is only up half a percentage point so far this year, silver is up around 5%.
Many
analysts, including Money Morning Global Resources Specialist Peter
Krauth, see both metals ending the year higher, especially silver.
Gold
and silver will be spurred by the inflationary actions of central
banks, strong investor demand and decreased supplies. Krauth expects
silver to outperform gold because of the added demand from its various
industrial uses, and its low price compared with gold.
In fact,
Krauth sees silver prices, currently trading around $31.50 an ounce,
reaching $54 an ounce. He sees gold, now trading at $1,675 an ounce,
hitting $2,200 an ounce during 2013.
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.
The
man who heads the Bank of Japan, Governor Masaaki Shirakawa, said
Tuesday he would step down March 19, three weeks earlier than planned.
He was presumably under pressure to ease even more aggressively in order
to reverse Japan's long-term deflation. Investors have turned bearish
on the yen but Rogers says he is "contemplating buying some" because of
the decline.
Related: 2013 Could be the Year Japan's Economy Turns Around: Cumberland's Witherell
When
asked which currency holds the most promise now, Rogers says it might
be the Russian ruble although "he's stunned" to hear himself say that.
"Russia
has massive problems...that's why the ruble is so cheap," he notes.
"There's great change taking place in Russia and whenever you can find a
cheap place with massive positive change taking place you should buy
all you can."
In the meantime, he advises investors not to sell
their gold and silver coins. "There is no paper money in 2014 or 2015
that will be worth much of anything," he says.
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Jim
Rogers is an author, financial commentator and successful international
investor. He has been frequently featured in Time, The New York Times,
Barron's, Forbes, Fortune, The Wall Street Journal, The Financial Times
and is a regular guest on Bloomberg and CNBC