American Silver Eagle coin has just made a new history for the monthly sales. The total sales so far (30 Jan 2012) has reached 7.42 million oz in a single month! It has broken the previous highest monthly sales record of 6.4 million oz in January 2011.
In case you don’t know what happened to American Silver Eagle (ASE), here’s a quick summary:
- On 17th December 2012, US Mint informed authorized purchasers that ASE 2012 had sold out and no additional ASE 2012 would be struck. The new coin ASE 2013 is only available for order on 7th January 2013 onward.
- On 7th January 2013, US Mint announced 3.937 million Silver Eagles were sold in a single day. This is the highest sale in the single day history!
- On 8th January 2013, US Mint sold another 300,000 oz of physical Silver Eagle coins. It is expected January 2013 would hit the highest sale per month in the history.
- On 17 January 2013, United States Mint is sold out for 2013 American Eagle Silver coins. As a result, sales are suspended until they can build up their silver inventory. Sales will resume on or about the week of 28th January 2013.
- The week of 28th January 2013, all the authorized dealers are queuing for another massive round of Silver Eagle coin order. By 29th, another 1.5 million oz were sold.
- On 30th January 2013, US Mint sold total of 7.42 million oz, breaking the all time high monthly sales of 6.4 million oz in January 2011. It is expected total sales for January 2013 be MORE than 8 million oz!
Not only all silver investors / collector around the world love American Silver Eagle, this coin is also one of the best choices for silver investors in Malaysia due to its relatively low premium (compared to other coins) and high liquidity in Malaysia silver market. Liquidity here refers to easy to sell and buy in local silver market. Also not to mention the design of this coin is very beautiful and the details are very fine. Find out more about the review I wrote about American Silver Eagle here specifically for Malaysia silver market.
Mining production data shows that for every 1 oz of gold is mined, there are only another 10 oz silver being mined. However during this period, US Mint has reported that silver sales (demand) is 53 times more compared to gold sales.
If silver continue being bought up at this rate, don’t be surprised that one day you might NOT be able to buy anymore physical silver coin. So the question is, what are you waiting for?