Silver Eagle Coin Sales Very Robust – Record High For Second Consecutive Year
Silver bullion demand remains very robust as silver stackers continue to stack. 2014 has been another record-breaking year at the U.S. Mint which has sold 43.3 million silver eagle coins – up from 42.7 million coins last year.
Record demand in 2014 was seen despite the U.S. Mint running out of Silver Eagles early last month due to very high demand throughout October. As a consequence of this lack of supply, November sales of the coins were down 40.8% according to Reuters.
Silver prices fell 36% last year and, despite obvious shortages in the supply of physical silver, they have declined a further 12.5% this year. This demonstrates the degree to which naked shorting of the market – the selling of paper contracts for gold which the seller is not actually in possession of – is determining price of the physical metal.