Silver American Eagle Bullion Coin Sales in Summer Slump

September 3, 2014

silver eagleLet’s face it – no one likes to invest when prices are falling, whether it be stocks, bonds, gold, or silver.  Nonetheless, history has shown time and time again, across all asset classes, that investing after prices have collapsed and when there seems to be little reason to buy is usually the exact right time to buy.

This is something that investors in gold and silver may chose to ponder as demand for precious metals continues to decline.  The demand for both gold and silver has fallen as precious metal prices decline and investors turn to other rising asset classes such as real estate and stocks.  According to BullionVault which buys and sells physical gold and silver for its clients, precious metal demand  retreated to a four year low during August.

The weak demand for precious metals was reflected in the latest report from the US Mint which showed lower sales for both gold and silver American Eagle bullion coins (see Gold Bullion Coin Buyers Go On Strike).

Sales of the US Mint one ounce American Eagle silver bullion coins during August continued the sales slump that has lasted throughout the summer.  Although August sales of 2,007,500 coins increased slightly from sales of 1,975,000 in July, sales during August were off almost 45% from August 2013.

Sales of silver bullion coins during 2014 have declined substantially during the June to August time period compared to the prior year.  Total sales of silver bullion coins during the summer months of June through August 2014 totaled 6,674,500 ounces compared to 11,306,500 ounces during the previous year for a decline of almost 41%.

Earlier this year it appeared that the ever popular silver bullion coins would rack up another  record breaking year, above the record sales of 42,675,000 ounces during 2013.  Although sales of the American Eagle silver bullion coins have been robust during 2014, breaking last year’s record may remain an elusive goal.

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