Physical silver sales continue to rise

In the first 3 months of 2013, the silver coin of the US Mint reached a turnover of 13.2 million ounces. This is the highest turnover ever for the silver coin of US Mint. If the number of sales of this coin continues at this rate, 52.8 million ounces will be sold on an annual basis in 2013. This will then be a new record for the US Mint.

The increases in the price of silver and the demand for silver bars and coins show that silver is gaining the market share of gold. More and more investors are choosing to invest in physical silver instead of physical gold.

In 2008, silver sales started to show an upward trend.  In 2008, 20,583,000 Bullion American Silver Eagles were sold. With an average value of $14.99 per ounce, this silver coin sold almost 80% more than the year before.

In 2008, there were record inflows of more than 93.1 million ounces into the three major silver ETFs. Coin and medal manufacturing jumped 63% to an all-time high of 64.9 million ounces. The main reason for this increase was a sharp increase in investments related to the purchase of gold coins, both in the United States and in Europe. In particular, the manufacture of the American Silver Eagle Bullion coin reached a record 19.6 million ounces, about double the figures from 2007. The number could have been even higher, but due to a shortage of materials to produce coins, not all demand could be met.

In 2009, sales increased even further. In this year, 30,459,000 Bullion American Silver Eagles were sold. On March 5, 2009, following a sustained demand for gold coins, the U.S. Mint decided to temporarily stop producing proof coins and uncirculated versions of the Silver Eagle coins.

The sale of 2009 Silver Eagle gold coins was suspended from November 24 to December 6 and the allocation program was reset on December 7. Total ETF holdings increased by 132.5 million ounces and ended the year at 397.8 million ounces. Coins and medals were manufactured by 21% more this year with a record 78.7 million ounces.

The average cost of an ounce of silver in 2009 was $14.67.

In 2010, no Silver Eagle was released for the first 10 months without proof. There was a complete cancellation of the uncirculated Silver Eagle. The production of 2010 Silver Eagle gold coins did not start this year in December as usual, but in January. Until 3 September 2010, the coins were sold only to authorised dealers on the basis of allocation.

The average price of 1 troy ounce of silver in 2010 was $20.19. The world's investment increased by 40% in 2010 to 279.3 million troy ounces. In 2011, the average price for 1 troy ounce of silver is $35.12. This is more than double the $14.67 average price for 2009.

Global investment in silver bars, coins and pennies went to an all-time high of 282.2 million ounces. Investment in physical silver bars grew by 67% in 2011 to 95.7 million ounces. Global coin and token manufacturing increased by about 19% to a high of 118.2 million ounces.

The 6,600,000 ounces of silver imported by the US for consumption in 2011 also increased from the 2007 imports, which stood at 4,830,000 ounces.

In 2011, the U.S. Mint sold 40,020,000 Bullion American Silver Eagle coins. On January 13, 2012, the United State Mint ordered 3,197,000 Bullion American Silver Eagle coins. This was the first day they went on sale. That first day, the coins were totally catapulted. Sales of the Bullion Eagle are higher than half of the monthly totals in 2011. VFrom February to September, monthly sales were lower than the corresponding months in 2011. 

In October, the demand for the silver coins started to rise again. In November, American Silver Eagle's sales increased sharply again, doubling the figures of November and December 2011. 

On January 7, 2013, the sale of the new Silver Eagle coins started. With a new record of almost 4 million, these coins were sold that day.  The U.S. Mint's silver coin reached an unprecedented high sales of 13.2 million ounces in the first three months of 2013. If this were to continue at the same level, 52.8 million ounces of silver would be sold annually in 2013. A new record for the U.S. Mint. The reason for this increase is that investors now buy 56 times more in silver ounces than in gold ounces. There are also more and more investors who want security for their assets. Because the economy deteriorates and the value of the Euro can fall, many people choose to invest in precious metals in order to protect their wealth.

 Source: www.bullionstreet.com