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Another Strong Month for US Mint Gold and Silver Bullion Sales

June 4, 2013 in Coins, Collecting, Gold, Gold Bullion, Gold Coins, Gold Eagles, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

June 3, 2013 By Michael Zielinski (http://news.coinupdate.com)

Although the United States Mint’s gold and silver bullion sales receded from the exceptionally strong levels seen in April, the monthly sales for May handily exceeded year ago levels. The lower market prices for gold and silver continue to result in higher demand for physical precious metals.

During May 2013, sales of the popular one ounce American Silver Eagle bullion coins reached 3,458,500. This was a decline compared to the prior month when 4,087,000 coins were sold. However, it represented an increase of 20.3% compared to the year ago period when sales were 2,875,000.

The monthly sales total for Silver Eagles still may not be a reflection of total overall demand for the coins. The US Mint continues to conduct sales under their allocation program, which rations the available supplies amongst authorized purchasers. In January an initial burst of demand was strong enough to exhaust the Mint’s entire inventory of coins. After an eleven day suspension, sales had resumed under a rationed basis and have remained so through the current date.

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