U.S. Mint silver eagle sales soar
Peter Walden, News Editor
15 Oct 2014, 10:09 a.m.
Despite the silver price trading near a 4 year low the sale of American Silver eagles is nearing a 12 month high. Since the recent price decline which took gold below $1,200 and silver below $18.50 bullion dealers around the globe have reported a sharp pickup in sales.
The U.S. mint is no different and in the first 8 days in October sold 2.25 million silver American eagles and is on track to have their the best month of 2014. Sales in September were also robust with an average 1.305 million silver eagles sold each week. Typically 1oz American Eagles are favoured by retail investors.
With physical demand across the globe soaring demand can only continue for so long given limited physical supplies.
Silver commentators argue manipulators can drive the price lower via the paper based exchanges, and one day the physical price will break free and will reflect the true supply demand dynamics in the market.