Forget silver bells – ’tis the season for Silver Eagles! Silver American Eagle Coins are not only on the rise in terms of demand, but sales have surpassed the annual record, set in 2011. The U.S. Mint announced on Tuesday that Silver American Eagle sales have reached almost 40.2 million ounces, a total that surpasses the previous 39.9 million ounces record.
This new record comes as no surprise to bullion dealers, who admit that bullion demand has been hot all year. Since bullion coins debuted 27 years ago, eight of the top twenty sales months fall within the 2013 year.
In fact, according to CoinNews.net, each month in 2013 has exceeded 3 million in Silver Eagles sales. That is an impressive number – especially when you consider that, before 2009, that’s only happened once during the first full month of Silver Eagle availability in 1986.
With the U.S. Mint’s latest announcement, American Gold and Silver Eagles are in high demand, with investors hastily snatching up supply at current price levels. With a 30% fall in silver prices during the 2013 year, silver has and will continue to be a popular investment. “There has been an extraordinary increase in the demand for physical silver this year,” Jake W. Haugen, Chief Operating Officer of Texas-based Provident Metals, told Money Morning. “Investors are simply taking advantage of favorable pricing.”
Thomson Reuters GFMS also confirmed that investment in Silver Eagles will remain strong in the months to come. As the world’s most respected independent precious metals consultancy, they’re confident that demand in early 2014 will remain high, based on strong buying of silver coins and bars by bargain hunters during 2013.
In fact, the demand for Silver Eagles during 2013 was so high that the U.S. Mint announced that is is completely sold out of the Proof Silver American Eagles for 2013. As one of the most popular silver bullion coins in the world, this lack of supply has obviously increased demand and has caused an immediate jump in pricing.
As 2013 draws to a close, be sure to join in on the latest rush for precious metals. Protect your portfolio by investing in physical gold and silver. Call American Bullion at 1 (800) 326-9598 for more information about our wide variety of precious metals and be sure to review our information on the benefits of starting a silver IRA.