Attention in the metals markets shifted this week from silver to copper and platinum. While big moves in silver and gold prices may be coming down the road, the monetary metals are currently taking a back seat to electrical and automotive metals.
A massive push by the Biden administration to replace gasoline vehicles with electric vehicles is helping to crank up demand for copper. Anything involving electricity involves copper – and lots of it.
Electric vehicles and their massive batteries contain an average of 180 pounds of the metal. That’s six times the copper that’s used in gasoline cars. Even larger quantities of copper are required for EV charging stations and necessary upgrades to electrical grid infrastructure.
American Silver and Gold Eagle Proof Coins and IRAs
IRA, or
Individual Retirement Account.
But what exactly is an IRA? An IRA is a tax-advantage investing tool used to earmark funds for one’s retirement.
Though there are others, there are two main types of IRAs:
traditional and
Roth. Traditional IRA contributions are tax-deductible up to a certain amount, and when funds are withdrawn (which happens after the account owner is 59 ½ or older to avoid penalties), that money is taxed at the ordinary income level. In addition, starting at age 72, the account is subject to an
RMD, or
Required Minimum Distribution.
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AUSTIN, Texas, Feb. 8, 2021 /PRNewswire/ U.S. Money Reserve, America s Gold Authority®, is honored to announce the exclusive release of the 2021 3-Coin Silver American Eagle Reagan Legacy Set. This set was exclusively released by U.S. Money Reserve on February 6, 2021, on what would have been President Ronald Reagan s 110
th birthday. This exemplary three-coin set honors Ronald Reagan s legacy as the father of the Silver American Eagle program.
(PRNewsfoto/U.S. Money Reserve)
The 2021 3-Coin Silver American Eagle Reagan Legacy Set also marks a unique time in history. Modern-day issues of nearly all American Silver Eagle coins are typically produced at the U.S. Mint at West Point. However, due to rising silver demand and global supply constraints over the past year, the U.S. Mint had to supplement the production of Silver American Eagles at the San Francisco and Philadelphia Mints, in addition to its West Point Mint Facility.
Why Are So Many Americans Stockpiling Guns, Silver, & Food Right Now? zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
We were told that 2021 would be the year when everything starts to get back to normal. But that hasn’t exactly been the case, has it? It has been just over a month, and there is still chaos everywhere. We have seen a wild riot at the U.S. Capitol, civil unrest has been erupting in major cities from coast to coast, millions of people have filed for unemployment benefits, a president was impeached, and a crazy ride on Wall Street made “GameStop” a national phenomenon. That would normally be enough for an entire year, but we are still in the first week of February.