The American Eagle silver bullion coins produced by the US Mint remain extremely popular with retail investors. During 2013 silver bullion coin sales hit a record high of almost 43 million ounces and would have been even higher if the US Mint had been able to keep up with demand. The US Mint actually ran out of silver bullion coins late in the year and suspended sales for most of December and part of January 2014.
Sales of silver bullion coins exploded in the wake of the financial crisis during 2008 when investors began to seriously question of value of paper money which could be manufacturing at will and in unlimited quantity by a profligate government.
Prior to the financial crisis yearly sales of the silver bullion coin ran between eight and ten million ounces. Since 2010 yearly sales exploded to over 30 million ounces per year and during 2013 exceeded 40 million ounces.
According to the US Mint May sales of the silver bullion coin totaled 3,988,500 ounces up by almost 12% from the previous month and up by 15% from the comparable prior year month.
Sales of the silver bullion coins are shown below by year with 2014 sales through May 31st.
The American Eagle silver bullion coins cannot be purchased by individuals directly from the U.S Mint. The coins are sold only to the Mint’s network of authorized purchasers who buy the coins in bulk based on the market value of silver and a markup by the U.S. Mint. The authorized purchasers sell the silver coins to coin dealers, other bullion dealers and the public. The Mint’s rationale for using authorized purchasers is that this method makes the coins widely available to the public with reasonable transaction costs.
If the US Mint is able to keep up with demand, 2014 should be another record breaking year for sales of the American Eagle silver bullion coins. If the pace of silver coin sales continues at the current rate sales for 2014 could easily top 50 million ounces, an increase of about 16% from last year.
Up to this year, I always kept my credit card balance at zero. I am a common worker bee in life and with economic responsibility I have a credit score of 815; pretty good I think. I have been paying my mortgage ahead in hopes I pay it off by age 65.
I have stop paying a head of my mortage now and with all the extra cash I earn per pay check, with much heart felt consideration and constantly self-education and life observation of our political leaders, I made a choice to I run up my credit card and spend what cash I have, in buying gold eagle one ounce coins and silver eagle one ounce coins pay the minimum and declare bankruptcy, when I become unemployed from the failing fiat currency and failing economy. I will then leave my house I owe 80k and it’s worth today 50k, and during an economic collapse its worth 1k. I will sell my gold & silver, by a house, car, furniture, things, etc. and go back to college to study something medical. All the elderly folks – baby boomers – no matter what will need medical care.
If I do keep my current job, then in all likelihood with the rocket value of gold and silver, I will just sell it and pay off my credit card, house and car and save the rest. Oh, yea go to college to adapt to a changing economic world; social security will not there or anything as I get old. It is up to me, to take care of me.
Buy Gold NOW! Buy Silver NOW!
When the fiat currency falls and economy too, fall back to the US Constitution as it was written before 1871, keep all the positive laws towards equality and keep education towards equality, liberty and freedom too. Finally, return the US dollar to be back by GOLD&SILVER!