Silver bears with long shorts on the precious metal are clearly ignoring the retail market demand in the United States. With 2014 serving as one of the U.S. Mint’s all time highest sales tally of Silver American Eagles, the first day of silver trading in 2015 started off with nearly 3,000,000 coins sold.
First-day sales of 2015-dated American Silver Eagle bullion coins hit 2,958,000, figures from the U.S. Mint show. As was the case in December when its supply of 2014-dated Silver Eagles sold out, the Mint is rationing how many they sell to maintain an inventory. And similar to a week ago when the agency released its 2015-dated gold bullion coins, Silver Eagle starting sales are already higher than those from December. Introduced in 1986, the series monthly sales record happened in January 2013 at 7,498,000 coins. Sales in January 2014 ended at 4,775,000 coins. CoinNews.net
Will 2015 serve as another record year for sales? With silver trading at or near production costs retail buyers are snapping up large quantities of the silver metal in an effort to get ahead of the next market correction or for a long term buy and hold play. What are your thoughts on the silver market?