Silver Bullion Coins Headed for Record Highs in 2013

American Eagle Silver Coins reached record sales levels in the month of March, advancing a trend of record-breaking sales that has been in effect for the past five years.

Before the financial crisis in the U.S., sales of the American Silver Eagles averaged around ten million one-ounce coins per year. During the financial system’s severe crisis in 2008, fundamental questions regarding the integrity of the system arose, bringing about the type of environment for the advancement of precious metals. Since 2008, annual sales of the American Eagle Silver Coins have soared with average annual sales of over 31 million coins.

According to figures from the U.S. Mint, sales of the American Eagle Silver Coin totaled 3,356,500 in the month of March alone, an increase of 32 percent from comparable sales of 2,542,000 ounces during March of 2012. Through March 31, 2013, total sales have reached 14,223,000 ounces, up a whopping 40.3 percent from the comparable period in the last year.

The previous record year for silver bullion coins was 2011 with sales at 39,868,500 coins. However, compared to projected sales totals for the current year, 2011 may end up looking like a slow period. Based on the first three months of this year, annualized sales for 2013 could reach a record-shattering 57 million ounces of silver bullion ordered by authorized distributors of the U.S. Mint.

Among the factors creating the perfect storm for silver bullion, the slow collapse of the European Union’s economic integrity, characterized most recently by the bailout events in Cyprus, contribute to safe-haven demand on the part of investors who prefer to invest rather than let money depreciate in or be confiscated from bank accounts.

Due to possibly vastly underestimating demand for the American Eagle Silver Coin, the U.S. Mint has been forced to suspend sales twice following a surge in demand for physical bullion, the most recent of these suspensions occurring in January after just ten days of availability.

Based on the Mint’s figures, investors have purchased almost a quarter billion ounces of silver bullion from the U.S. Mint since 2000, worth almost $7 billion with the current price of silver.

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