2/15/10 US Mint Announces Record 2010 Silver Eagle Coin Sales

Precious Metals Market Analysis, By Michael Pennington (Copyright 2010 Pennco Coins)

Investors and collectors this month have given more than enough attention to the newly released bullion 2010 American Silver Eagle coins. January sales are at an all-time, record-smashing high.
3,225,000 of the 2010-dated bullion silver coins have been sold as of today. Combined with the 2009-dated sales of 367,500 from earlier this month, US Mint authorized buyers have now purchased a total of 3,592,500 Silver Eagle coins — the most ever in a January, dating way back to the series launch in 1986. That, in spite of sliding silver prices, rationing and a week of unavailability between the time the 2009s sold out and the 2010s became available.
For a perspective of how significant the numbers are, only one January (2008) has ever had more than two million eagles sold, which is a far cry from this month’s already 3.5M+. More on this topic may be read from an article published earlier this week on parent site CoinNews.net entitled US Mint Silver Eagle Sales Top 3 Million, Best Ever January…
The OVERWHELMING RECORD demand for Silver American Eagles is inconsistent with the statement that demand for precious metals has weakened. Further, Silver American Eagles trade at a significant premium to spot and reflect that physical bullion trades at a premium to the paper price:

Advertisements

About Pennco Coins

Pennco Coins
This entry was posted in Buffalo, Bullion, Coin, Dollar, Eagle, Federal Reserve, Gold, Gold to Silver Ratio, Government, Investment, Maple, Mint, Palladium, Peso, Philharmonic, Platinum, Silver, Tax and tagged , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s