image via MarketWatch
Sales of one-ounce American Eagle silver bullion coins reached 40.175 million ounces this month, which the US Mint has announced is an annual record. The previous record was set in 2011 when sales amounted to 39.9 million ounces.
Industrial demand for the metal has risen alongside dropping prices, which means that investors are clamoring for silver. And while you can purchase bars of silver or silver stocks, the coins are easily attainable and can be sold for a great return—they’re also sixty times less expensive than gold coins.
A regional manager at the precious metals dealer BullionStar commented that the “American Eagle silver coin is the most popular product in our portfolio. For a new investor, silver is attractive and coins are easier to purchase with greater liquidity compared to bars.”
Precious metal sales also spiked mid-October in response to the shutdown of the Federal government.
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