Booming Silver Demand Spurs Sales Of American Eagles Silver Coins To Record High
San Francisco (Nov 14) With nearly two months to go in 2013, the U.S. Mint already has surpassed the 2011's all time high record sales of 39,868,000 ounces in American Eagle Silver Bullion Coins. Total sales for the year 2013 to date have now reached 40,175,000 ounces. Sales of the United States Mint's American Eagles Silver coins moved into record territory yesterday after authorized purchasers ordered their full weekly allocation of 500,000 coins. With sales averaging over 3.97 million ounces per month this year, American Eagle Silver Coins sales through 5th November totaled 39,675,500 compared to 33,742,500 for all of 2012. The American Eagle Silver Bullion Coin enjoys a dominant market share worldwide. I had alerted several times in my articles earlier also about the same - While Gold Demand Slips, Soaring Silver Demand Indicates Higher Prices. While the price of gold continues to trade at levels that puts gold bullion coins out of the reach of many investors, silver remains relatively affordable. Add to this the American Eagle Silver Bullion Coin's unique backing by the U.S. Government and its beautiful and uniquely American design and you can see why demand for these coins has continued to grow."
At the average of current pace of sales, silver bullion coins may reach a minimum of around47.5 million ounces. But if we also take into consideration the addition of investments flowing into silver after rising interest rates and bond yields have been seen, the number could very well cross the 50 million ounce mark for 2013.