US Mint Silver Eagle Demand – ‘Returned with a Vengeance’

As gold and silver step back slightly to sit and wait for US economic data to be released later today we bring you news of the US Mint Silver Eagle demand that has ‘Returned with a Vengeance’ as reported by silverseek.com.

Last month it seemed some of the heat had come out of the US Mint Silver market when sales had failed to maintain the momentum seen in the first five months of the year when between 5.9m and 4 million coins had been sold each month.

But things have dramatically picked up. Sales of US Mint Silver Eagles in the month of October have reached 2,925,000, 75% higher than those seen in September when just 1,675,000 were sold, reports silverseek.com. Buyers have already bought more than the previous record month of June when they snapped up some 2,837,000. Given October’s buying patterns commentators now expect sales to touch 4,000,000 in total should the pace continue.

Silver Eagle sales this year lift the tally higher than all but five of the years in the last thirty.

Last year sales reached 47 million coins, and have reached over 35.35 million coins this year. At present the buying pace is not keeping up with the record year that was 2015, but it isn’t far off. We’re 80% through the year and sales are 71% of last year’s total. Read full story…