US Mint Silver Coin Sales Climb to Annual Record as Silver Price Rebounds

The U.S. Mint has sold a record number of silver coins this year as demand for the physical metal helped futures in New York recover more than 20 percent since falling to a five-year low early this month.

Purchases of American Eagle silver coins reached 43.051 million ounces in 2014, data on the mint’s website shows. That tops last year’s 42.7 million ounces, the previous all-time high, according to an e-mailed statement yesterday. There are still enough supplies to keep selling 2014-dated coins through the week starting Dec. 15, the mint estimates.

A surge in demand prompted the mint to suspend sales in November for more than a week because of a lack of inventory. When the coins were again made available for purchase, it was on allocated basis. Buying has increased with prices heading for a second straight annual loss, the longest slump since 1992.

“This has been a very strong year for us,” said Michael Kramer, the president of New York-based MTB Inc., a dealer authorized to purchase coins directly from the mint and sell to consumers. “It was especially busy on days prices took a big tumble.”

Silver futures for March delivery jumped 5.3 percent to $17.134 an ounce on the Comex yesterday, the biggest gain since Dec. 1.

Prices declined 12 percent this year through yesterday, after dropping 36 percent in 2013. On Dec. 1, the metal reached $14.155, the lowest since 2009.

Pegasus Silver 1oz 999 Bullion Round

The silver round's obverse design features a Pegasus, a flying horse often depicted in Greek and Roman mythology. Through flight the Pegasus symbolizes the ability of one to transcend the weight of earthly burdens and rise above them. The Pegasus is a symbol of knowledge, inspiration, and justice.

The silver round's reverse design features the inscription "Free Markets & Free People". The Bull & Lion pay homage to mankind's first ever money coined in Lydia, in approximately 680 B.C.

The Silver Pegasus Round is the easiest way to own a beautiful fine silver bullion product as close to the silver spot price as possible.  Unlike government issued silver coins, the Silver Pegasus Round does not have high seigniorage costs.

These exclusive silver rounds have the benefit of being struck into small 1 ounce increments making them extremely liquid and less susceptible to counterfeit than large commercial silver bars.

The GoldSilver.com Silver Pegasus Round has its one ounce weight and fine .999 AG ( silver ) content stamped on it in English. This silver round is an excellent silver investment protecting your wealth against currency crisis, devaluations, and or potential bank bail-ins.

Melt Values for Silver Coins Jump through Q3 2012

Fiery gains for silver in July and August have boosted the melt values of silver coins in the third quarter 2012 and for the year.

After boisterous gains during the January-March period, silver prices plunged in the second quarter to such an extent that silver was in the red through the first half of 2012. A modest turnaround in July and then sharp increases in August and September brought silver well back into the black for the third quarter and for the year — up in London with respective increases of 28% and 23%.

Melt values for silver coins, naturally, shot higher with silver’s gains. Holders of bullion and junk silver coins, such as 90% silver coin bags or older US silver coins, watched their values rise sharply. For example, a 1964 Kennedy half dollar went from a melt value of $9.79 at the end of June to $12.53 just three months later — a change of $2.74.

In the same vein, melt values for modern silver coins jumped to make their prices much more attractive. Looking at several silver products from the United States Mint highlights the changes. In the table below are U.S. Mint products with columns that show how melt values have changed from their release date to the end of September when the London Fix price for silver was $34.65 an ounce.