U.S. Mint Sells Nearly as Much Gold & Silver on
First Day of 2016 as All of January 2015
Happy New Year from all of us at Austin Rare Coins & Bullion.
Unless you've had your head in the sand the past two weeks, you are well aware that financial markets around the globe are wrought with uncertainty, causing trillions of dollars in market value to be eroded.
During this volatile period, both gold and silver have proven their value as a safe haven.
Earlier this week, Reuters released some very interesting information regarding gold and silver coin purchases from investors here in the United States:
- The U.S. Mint set their first weekly allocation of Silver Eagles at four million coins, nearly four times the amount rationed out for the last five months of 2015!
- Of the four million coins allocated, 2.76 million of them sold in the first day of the week, a sign that silver demand is off the charts. If this continues, the first month of 2016 will set an all-time record in sales.
- First day sales of Gold American Eagles tallied 60,000 ounces, 75% of sales for the entire first month of 2015!
If you recall, the U.S. Mint ran out of Silver Eagles in July because of a "significant increase" in demand as silver spot prices fell to a six-year low. Something doesn't add up here and we want to bring this to your attention. Should this unprecedented demand continue, there is no doubt that premiums on both Gold and Silver American Eagles will rise.
Pre-Order Now
2016 American Eagle
Silver Dollars
Roll of 20 Coins
Only
$379 per roll!
Pre-Order Now
2016 American Eagle
1/2 oz. Gold Coins
Only
$619 per coin!
As always, thank you for your business and we wish you and your family a prosperous new year.
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