iHub Mining Sector Entrance Lobby

[Pro-Life]

Shocker... NOT ... U.S. Mint Silver Coin Sales Reach All-Time Highs For Third Year Running
By Kitco News Wednesday December 16, 2015 12:55

http://www.kitco.com/news/2015-12-16/U-S-Mint-Silver-Coin-Sales-Reach-All-Time-Highs-For-Third-Year-Running.html

(Kitco News) - The U.S. Mint announced that the sale of American Eagle silver bullion coins reached an all-time high for the third consecutive year.

“Once again, global demand for the American Eagle Silver Bullion Coins drove sales to a record high, this year reaching 47,000,000, surpassing the 44,006,000 ounces sold in 2014 and the 42,675,000 ounces sold in 2013,” the mint said in a press release Wednesday.

Earlier this week, silver prices hit new multi-year lows, falling below $14 an ounce. March comex silver futures were last quoted up 3% at $14.185 an ounce, during the session.

“The mint broke last year’s record Nov. 30 when sales reached 44,666,500,” the mint said.

According to the press release, since the inception of the silver Eagle coin, the mint typically sold between three million and 10 million ounces per year of its silver Eagle coin for the first 22. “Since 2007, sales have increased nearly five-fold from 9,887,000 in 2007 to more than 44 million last year,” they said.

Based on the mint’s latest sales data, the silver Eagle coin sales reached 4,824,000 ounces last month and are at 2,333,500 ounces so far in December.

November and December have seen strong demand for the U.S. Mint’s bullion coins. Mid-November, the mint announce that it sold out of its one-ounce, one-tenth ounce and one-fourth ounce American Eagle gold bullion coins.

By Sarah Benali of Kitco News [e-mail]