Silver coin sales increase 11% as price declines 33% year-over-year. U.S. Mint sales of platinum eagle bullion coins rose by 200 March 11 after advancing 8,500 on Monday, the first day of issue since 2008. Also higher on the day were sales of silver eagle coins. Sales rose 388,500 to above 1.1 million for the week, surpassing last week’s total.
U.S. Mint Silver Eagle Coins Sales and Silver in U.S. Dollars - Jan 2009 to March 2014 (Bloomberg)
February silver coin sales rose 11% yoy as prices fell 33% (see chart). Silver coin sales were down 22% from January. January produces sales spikes as collectors buy coins bearing the new year's date and bullion wholesalers secure their inventories of new year coins for the year ahead.
Silver prices have risen more than 9% ytd after falling 18% during the final five months of 2013. A record 42.6 million silver coins were sold in 2013, up 26% from 2012.
The american eagle 1 ounce Silver bullion coin is the official U.S. national silver bullion coin, and is the world’s most widely sold 1 oz. silver coin. In fact, over 335 million Silver Eagles have been sold since 1986.