[heading]US Mint Silver Eagle Bullion Coins Top 5.3M in March Sales[/heading]
2013 was a year in which the US Mint saw American Silver Eagle coin sales break record after record. Ultimately, the US Mint sold 42,675,000 coins, 26% more than it had sold in 2012, marking a new yearly record.
Soft precious metals prices have stifled some demand, although March did see the Mint sell 5,354,000 silver American Eagles, which is 30% more than it sold in February and 59.5 percent more than buyers purchased in March 2013, according to CoinNews. Marking the MInt’s fourth biggest sales month in history, it trails only:
- January 2013, with 7,498,000 coins sold;
- January 2011, with 6,422,000 coins sold; and
- January 2012, with 6,107,000 coins sold.
This March total brings 2014 first-quarter sales of the coins to 13,879,000 according to CoinNews. Last year was the only time sales during that period were better.
Sprott Money has argued low silver prices were sparked by the US Federal Reserve’s statement that it “may consider raising interest rates sooner than previously expected” and the “ongoing slowdown in China’ as two potential catalysts.
The “increasingly precarious situation that the world finds itself in due to rising tensions over the Russian-Crimea crisis” also drives physical silver demand, according to Sprott Money.
The US Mint could have sold more, but according to Coin Update, the US Mint is finding it difficult to find precious metals banks. This year the Mint did not begin selling coins until the second week of January.
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