Wednesday, January 4, 2012

American Silver Eagles - New Record - Charts

12 months ago I posted about the high level of buying demand that was being seen in American Silver Eagle sales:
...the US Mint has released updated figures which show January 2011 will officially set a new record with over 4.5m having been sold. If the current rate of sales continues we could see over 6m ounces sold in January alone.

To put that in perspective, United States Silver mine production is around 40m ounces of Silver per year. So 11.5% of US mine production has been used solely on less than 1 month of ASE sales! This months sales are already higher than some entire year sales, such as 1996 which saw 3.46m coins sold and 1997 which saw 3.63m sold.

With the current level of demand for Silver it's hard to see how the price will be kept this low for much longer. Bullion Baron
Well further strong demand over 2011 saw more records broken. Almost 40 million 1 ounce American Silver Eagles were sold. To put that in perspective annual world production (excluding secondary market) is around 735 million ounces per year, so American Silver Eagle sales alone account for roughly 5.5% of all new Silver mined... that's staggering.

In January 2010 I also posted up a couple of charts in this post: 

Here is an update to those charts:

American Silver Eagles vs Monthly Silver Price (Click chart to enlarge)

Annual American Silver Eagle Sales (2011, new record 4th year running)

We've already seen a strong start to 2012 with 3,197,000 coins being sold in January to date and we are only 4 days into the month! That number only has to double and a little more and we could be once again see a record month for sales (as we saw in 2011).


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  1. If dealers were shut over the last 2 weeks of December due to holiday season, its possible that the first opening day of Jan 2012 saw a lot of this pent up demand carried over. Do you have figures for December 2011? Unusually quiet month?

  2. Yes, November and December were the 2 quietest months of the year (2011), so suspect a shutdown over Christmas and probably the US Mint holding over sales until the new year and coin did play a part in the large January surge.