Strong price but demand falls
With the price of silver rising 13.5 percent in the month of September you would think sales of silver American Eagle bullion coins would be flying high. But you’d be wrong.
This article was originally printed in the latest issue of Numismatic News.
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With the price of silver rising 13.5 percent in the month of September you would think sales of silver American Eagle bullion coins would be flying high. But you’d be wrong. September concluded the slowest month of silver Eagle sales since September of last year. Sales of 1,880,000 coins is roughly half the level of May’s 3,636,500, which is the highest monthly total for 2010. The average of the first nine months is 2,831,167, so that works out to an undershoot of 1 million pieces in September – now you know why the Mint can strike proof silver American Eagles this year after keeping us on edge all year.
On the other hand, gold one-ounce American Eagles had a strong month at 82,500, up sharply from August’s 39,000, but still quite a bit under May’s 190,000. October started out with another 5,000 of the gold, and 325,000 silvers, but the October chart will appear next week.
Disabled Vet coin sales climbed by 2,923 and the uncirculated by 921.
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