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U.S. Mint Year-To-Date Silver-Coin Sales Hit Record At 40.2 Million Ounces

By Kitco News
Tuesday November 12, 2013 4:14 PM

(Kitco News) - The U.S. Mint said Wednesday silver-coin sales year-to-date reached at record 40.175 million ounces, surpassing the previous record set in 2011.

With authorized purchasers ordering their full weekly allocation of 500,000 American Eagle one-ounce silver bullion coins, the previous record was broken.

“This surpasses the previous annual record sales of American Eagle one-ounce silver bullion coins of 39,868,500 for all of 2011,” the Mint said in a press release.

In November alone, sales reached 1 million ounces. In October the Mint sold 3.087 million ounces of silver; according to the agency’s data, demand has been firm throughout the year, with the biggest sales in January of 7.5 million ounces of silver.

In an interview with Kitco News in August, Dick Peterson, acting director of the U.S. Mint, predicted that the Mint would likely set a record if the sales pace seen earlier in the year would continue.

The Mint’s data also shows that demand for gold is starting to rise after a lackluster August and September. During those two months the Mint sold 23,000 and 26,000 ounces of gold, respectively.

In October, the Mint sold 97,000 ounces of the yellow metal and so far, after the first full week of November, sales reached 24,000 ounces.

Debbie Carlson contributed to this article.

By Neils Christensen of Kitco News; nchristensen@kitco.com

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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