U.S. Mint Sells More Than 44 Million American Eagle Silver Coins In 2014
(Minews) - The U.S. Mint announced Wednesday it has officially sold out of its 2014 American Eagle one-ounce silver coins. In a one-line email the mint said it has sold more than 44 million ounces of silver bullion this year, setting a new record for silver coin sales.
The old sales record, which was set in 2013 at 42.675 million coins, was officially broken on Dec. 8 and silver sales have remained strong through the entire month. According to the mint’s sales data, October saw the biggest demand as almost 5.8 million 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 2014 at $19.440 an ounce and closed Wednesday at $15.680, a decline of more than 19% on the year.
Although 2014-denominated silver coins have sold out, the mint is planning to sell 2015 coins starting the week of Jan. 12.
Although silver demand has been strong, gold demand, by comparison, has been lackluster. Sales data show the mint has sold a total of 702,000 ounces of gold – from American Eagle and American Buffalo coins - this year, down almost 36% compared to 1.095 million ounces sold in 2013.
The mint will start selling 2015 gold bullion coins the week of Jan. 5.
Publish date : Friday 26 December 2014 14:05
Story Code: 18385
