US Mint Sells 44-M+ American Silver Eagles In 2014

Posted by: : Paul EbelingPosted on: December 27, 2014 US Mint Sells 44-M+ American Silver Eagles In 2014
 

US Mint Sells 44-M+ American Silver Eagles In 2014

The US Mint said last Wednesday it has officially sold out of its 2014 American Eagle 1 oz Silver coins. The Mint said it has sold more than 44-M ozs of Silver bullion this year, setting a new record for Silver coin sales.

The old sales record, set in Y 2013 at 42.675-M coins, was officially broken on 8 December, and Silver sales have remained strong on the whole month. According to the US Mint’s sales data, October saw the biggest demand as almost 5.8-M coins were sold.

Analysts have pointed out demand for physical Silver has been strong as prices have dropped significantly this year. The decline in Silver started in early July.

This year COMEX Silver futures opened Y 2014 at 19.440, and finished Wednesday at 15.680, a decline of more than 19% on the year.

Although Silver demand has been strong, Gold demand, by comparison, has been quiet. Although Y 2014-denominated Silver coins have sold out, the Mint is planning to sell Y 2015 coins beginning the week of 12 January.

Sales data show the Mint has sold a total of 702,000 oz of Gold, from American Eagle and American Buffalo coins this year, down almost 36% compared to 1.095-M ozs sold in Y 2013.

The Mint will start selling Y 2015 Gold bullion coins the week of  5 January.

COMEX Silver Continuous Contract
Last 16.085 Change + 0.375 Change % +2.33%
Open 15.960 High 16.305 Low 15.765

Last Updated: 26 December 22:15 GMT

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Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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