The year 2011 has so far seen the highest sales in American Silver Eagle coins for the last 25 years. The U.S. Mint reports that sales are still increasing at a rate that is higher than ever before. Sales in May exceeded that of April. May saw 3.65 million ounces of new American Silver Eagle coins being sold. This is higher than it has ever been since the introduction of these silver coins in 1986.
So far this year, 18.9 million ounces of American Silver Eagle coins have been sold, while over the same period last year, only 15.2 million ounces had been sold. This has forced the U.S Mint to open up an additional production line at the San Francisco branch in order to try to meet what seem like an ever increasing investor demand for these silver coins.
Trials were conducted at the San Francisco Mint and it was concluded that they could mint several hundred thousand American Silver Eagles each week at this facility. Prior to this, all the American Eagle Silver were minted at the West Point facility. Figures are so promising for this year that it is envisaged that 2010 output figures would be surpassed by substantial figures. This is no surprise since an increasing number of investors are starting to become aware of silver’s true worth, especially the fact that silver is money.
The above is expected despite the fact that 2010 was a record year which saw the minting of no less than 34.663 million ounces of American Silver Eagles. This was also despite the fact that there was rationing of die due to the excessive demand.
During the period January to April, sales almost doubled. Of course the unrest in North Africa, the weakened dollar and the debt crisis in Europe have also had their role to play in the good fortune of the American Silver Eagle.
The San Francisco mint reported that due to unexpected high demand they would start mass-producing American Silver Eagle coins. Silver investors, especially numismatic collectors, can be excited that in June there will be two new coins released. These are the American Silver Eagle and the Yosemite National Park 5 ounce silver uncirculated coins. Mints are expecting bumper sales of these two coins to take place. It is envisaged that the coins will be sold within a few days. It will be interesting to see how this affects the silver price, despite silver market manipulation and the “paper gimmick.”