Friday, January 6, 2012

Silver American Eagle Sales Go Parabolic

In the previous post the yearly mintage volume of American Eagle bullion coins was shown. Today, the 'sales value' is presented based on the average yearly price of silver and gold. The sales value of silver has always been much less than that of gold...until recently. There's been a significant acceleration in silver investment relative to gold that hasn't been seen since the inception of the American Eagle program in 1986. Whether the US mint can keep up with demand in 2012 remains to be seen, but the trend is nothing less than striking.

As of this writing (the first week of January 2012), there has already been 3.37 million ounces of silver American Eagle coins sold. If that rate were extrapolated to 52 weeks, it would amount to over 175 million ounces (over $5B worth of silver at $30/oz). Of course I don't expect that number to be achieved, nor could the US mint satisfy such demand, but it illustrates the unabated investment interest going into the New Year. Please keep in mind that this is only for US Mint issued American Eagle coins and does not include industrial or other Mint demand. Needless to say, something substantial is occurring in the physical market.

Figure 1: American Eagle sales value based on average yearly price of gold and silver. Not adjusted for inflation.


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