Oct 8 2009
While many businesses are struggling to grind through the economic downswing, precious metal dealers like Scottsdale Silver are thriving as a result of investors' growing distrust in the stock market and the U.S. dollar.
Scottsdale Silver Bars
"With financial upheaval in the banking system, political policy shifts and the poor economy we're seeing an influx of buyers - both seasoned investors and first-timers are turning to silver as a safe haven," said Davis Sullivan, marketing director for Scottsdale Silver. "Demand has increased sharply over the past year to the point we've been able to significantly expand our product line."
In response to the demand for silver bullion, the Arizona-based company recently unveiled two custom products - the 1 and 10 Troy ounce precision-machined "Scottsdale Lion" silver bars. Both bars are highly detailed and feature the company's lion hallmark.
"People are attracted to products like ours for a few reasons," Sullivan said. "First of all, our manufacturing standards qualify our products for IRA Trusts, and that means security. Secondly, they're minted in the United States."
As the value of the dollar continues to slide, precious metals like gold and silver are fast becoming trending topics on TV - both in the programming and in commercials for companies promising top dollar for unwanted gold and silver jewelry.
But while other companies seek to pull the metal out of households, Scottsdale Silver's aim is to put tangible assets into the coffers of families across the nation.
"There's no doubt that gold and silver are now being discussed in the media, but just recently more and more people are taking the step of buying the actual hard metal," said Sullivan. "When people hold it in their hand they feel as if they've just become their own central bank."
Scottsdale Silver is also a leader in environmental responsibility, as more than half of their products are sourced from the recycling industry. Reclaiming silver from the electronics and photography industries and refining it is a common way to mint bullion for the retail market.