In the United States of America, people are becoming increasingly worried about the effect of inflation on their savings.
CU Gate to vault
CU Money bank label 1,000 dollars in quarters
SV & LV Coin dealer sitting on money bags (3 shots)
SCU Sacks of money (2 shots)
GV Coin dealer and interviewer seated
CU Coin dealer speaks
CU Silver coins poured from bag on to fleer
CARABINI: "People are concerned at what will happen with their savings a year from new -- two years from now. With ten thousand, twenty thousand dollars in a savings account, what will it really buy next year or the year after that. And not knowing what it will buy, people are buying silver not as an insurance policy, but simply as part of he finest insurance policy there is."
Initials BB/2221 NPJ/TB/BB/2236
The film includes an interview with Mr. Louis Carabini - transcription follows:
Script is copyright Reuters Limited. All rights reserved
Background: In the United States of America, people are becoming increasingly worried about the effect of inflation on their savings. Consequently, many of them are putting their money into anything other than dollars.
One such commodity that snows no sign of depreciating is silver. One firm, Pacific Coast Coin Exchange, which specialises in dealing with silver coins is facing a tremendous increase in sales. The head of the firm, Mr. Louis Carabini, says that the public is buying silver because they are so worried about what their savings will be worth one year, or two years form now. They see silver coins as an insurance policy against the falling dollar.
In its vaults the firm has more that one hundred and fifty million dollars worth of coins -- including currency that the United States Government stopped minting in 1965. Demand, however, is so great that Carabini is firm expect to sell four as many coins as they did last year.