I received a press release from the Silver Institute announcing that the U.S. Mint has sold a record number of silver American Eagle bullion coins at over 32 million.
Nothing new there.
Anyone who watches the totals tick higher and higher on the Mint’s website or in the weekly pages of the Mint Statistics column knows that already.
But that’s not the Silver Institute’s audience.
The wider world is.
Collectors have always been considered a bit odd, or eccentric if you prefer a more polite term.
Yes, we are.
We love coins. We love everything about them. Compared to the average person’s interests, that’s odd.
So we need the Silver Institute and so does the mining industry that supports it.
It communicates to the wider audience.
Would silver be trading at $27.38 a troy ounce as it is this morning just on the basis of collector interest?
Would the Mint have sold so many American Eagles this year?
Of course not.
Hence the necessity of the press release.
I’m glad the Silver Institute issued it even if there is nothing new there for collectors.