Silver Eagle Record Set|
November 19, 2013
A new record was reached Nov. 12 for sales of silver American Eagles.
The U.S. Mint said total purchases had reached 40,175,000.
This surpassed the previous record high set in calendar year 2011 when 39,868,500 were sold.
Sales, of course, are not yet finished for the year. The Mint will take its last orders for 2013 coins on Dec. 9, so it is possible that another 3 million or so coins will pad the new record.
Silver Eagle demand is now snapping up four times the number of coins that were sold by the Mint in 2007, before the economic crisis upended the financial world. Sales in 2007 were 9,887,000 pieces, which was still below the 1987 production record of 11,442,335 pieces.
In 2008, sales doubled to 19,583,500 as panic fueled demand for hard assets.
In 2009, when the stock market was bottoming out, silver Eagle buyers stocked up on 28,766,500 coins, roughly 50 percent higher than the prior year.
Sales increases slowed their rate of gain after that. In 2010 34,662,500 silver Eagles were shipped. In 2011 that figure rose to 39,868,500. A gain of 5,206,000 pieces is not small figure, but in percentage terms it was just 15 percent.
Sales actually declined by more than that in 2012, touching the 33,742,500 mark.
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• Get the 2012 Coin of the Year – limited quantities remain!
• Build an impressive collection with Coin Collecting 101.
• IT’S HERE! Order the 2014 North American Coins & Prices.
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