After a slow close to 2011, the US Mint’s sales of American Silver Eagle bullion coins took off with more than six million ounces sold in January, while American Gold Eagles saw also-impressive sales figures topping 127,000 ounces.
Opening Day orders signaled that demand had built to a near-record level, as 3,197,000 one ounce American Silver Eagles were spoken for in less than 24 hours. Though the silver bullion coins can fetch more than spot price alone, the total value of sales in terms of pure silver content was $94,311,500 – sold in one single day. As of this writing, less than one month later, that value is now $109,848,920 – following a 16% rise in silver over the past month.
The US Mint’s stunning figures speak to the demand for precious metals as a whole. Numerous factors (seelast week’s blog) are being considered by investors both large and small as we enter this election year amidst noteworthy national and international financial factors, many of which directly affect precious metals’ pricing.
As always, DGSE Companies is here to advise our clients on their precious metals holdings and investment strategy. We assist new investors, multi-million dollar investors and everyone in between. Give us a call today so we can answer any questions you have about investment strategies or just the basics of bullion.