US Silver coin sales to hit new record this year
Analysts said US Mint's sales were boosted by surge in January and April when 7.5 million and 4.1 million ounces of silver were sold respectively.
Silver coin sales by the United States Mint is heading towards a new record this year with figures reaching 23.3 million ounces at the end of second week in June.
Analysts said US Mint's sales were boosted by surge in January and April when 7.5 million and 4.1 million ounces of silver were sold respectively.
January's sales figure of nearly 7.5 million ounces was a new record with the Mint temporarily selling out of the 2013 American Eagle Silver Bullion coins as a result of high demand. January is typically a strong month for coin sales as collectors jockey to get their hands on the new year's coins
A second flare up of coin purchases arose in April after silver prices plunged 16% over two days to trade at a 29-month low of $23.361 a troy ounce in response to a sharp downdraft in gold prices.
The U.S. Mint put sales of one ounce American Eagle Silver Bullion coins on an allocation basis following silver's April slide, as demand for bullion rocketed up. Total silver coin sales for April were just under 4.1 million ounces, according to the agency's website.
Premiums on American Silver Eagle Bullion coins rose in April as silver's declines exacerbated an already tightly supplied market, coin and bullion dealers said. Dealers typically charge a $1 to $3.50 mark up on silver Eagles, but that premium rallied to between $5 and $8 per coin by May as demand remained robust.
But in recent weeks, both demand for silver coins and sales volumes by the U.S. Mint have slackened.
The Mint's previous first-half sales record of 22.3 million ounces was set in the first six months of 2011. At the time silver prices roared to a 31-year high of $48.599 a troy ounce.
Sumber : Google
No comments:
Post a Comment