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Proof silver sales start strong

This article was originally printed in the latest issue of Numismatic News.
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In little more than two days of selling, the U.S. Mint recorded that 273,212 proof silver American Eagles were snapped up by buyers. If everyone wanted the maximum 100 allowed, that would still be more than 27,000 different buyers. No wonder there were some delays Nov. 19 as sales began.

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Are hobby buyers a fickle lot? Collector gold offerings were noticeably down for the week as only 483 Buffalo proofs were sold. The pace of sales of the four-coin proof gold American Eagle sets also plunged. Only 807 sets were sold compared to 5,233 the prior week. The half-ounce lost its star status after just one week as buyers took only 334, compared to 1,695 previously.

The quarter ounce had additional sales of 220 and the tenth ounce 776.

Investors were also more interested in silver coins. The bullion silver Eagle sales in November are now the highest monthly number. For gold, eight months of 2010 have higher totals.

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