American Silver Eagle Sales Record: Highest Sales Since Inaugural 1986, 1.1 Million January 28
American Silver Eagles sales hit a record this month surging to 7.42 million ounces in January through the 28th after 1.1 million Silver Eagles were sold on the 28th. the biggest monthly total since 1986, the very first year the Silver Eagle was offered by the US Mint. The figure stomps the 1.635 million ounces mint data demonstrates the mint sold in December.
All this after the US Mint suspended Silver Eagle sales until January 28 after suspending them due to a lack of inventory. Sales of the American Eagle silver coins have risen 84 percent to 140,000 ounces so far this month compared with December, Mint data demonstrated. That would be the highest total for a month since July 2010.
Exchange traded products were 19,407 metric tons January 28, within 1.5% of the record 19,699 tons of January 18, according to data compiled by Bloomberg. Investors could increase their ETP holdings by 750 tons, according to Morgan Stanley.
Silver Vigilante contacted Bernank of Compare, who replied in email:
man, I could write up some bs for sure on the ASEs but my writing has little validity I feel because realistically I think silver should be on the otherside of $50 by now and the SP 500 at 1000.
Surely, quantitative easing efforts out of the Fed have led to an increase in the price of silver as worries about currency debasement and inflation have wore on the people’s minds. Demand surely is not about to let up.