Silver bullion coin demand has quadrupled in since 2007, says the U.S. Mint

Washington (Feb 6)  Silver bullion coin demand  quadrupled between 2007 and 2013 the U.S. Mint noted in an eye-opening report this week explaining its silver “allocations” to authorized purchasers.


Here’s the table from the U.S. Mint:






























United States Mint


American Eagle Silver Bullion Coin Sales


CY 2007 – CY 2013


Calendar Year


AE Silver Ounces Ordered


2007


9,887,000


2008


19,583,500


2009


28,766,500


2010


34,662,500


2011


39,868,500


2012


33,742,500


2013


42,675,000


The Mint said there is plenty of raw silver material available for purchase in the open market. However, periodic shortages of the blanks used for coin production do develop.


It attempts to manage its supplies in a “manner that ensures we have a sufficient number of coins to meet the weekly demand of our authorized purchasers,” it said. “When that demand exceeds our ability to acquire a sufficient number of blanks, we then go on allocation until our inventories can be rebuilt again and the supply of blanks increased so that time spent on allocation is minimized.”


Silver futures prices settled at $19.93 an ounce on Comex Thursday. They’re up about 59% from the $12.56 level at the start of 2007.


(Source:  US Mint)