2011 Silver Eagle Bullion Sales Break Another Record in February

2011 American Silver Eagle bullion coins managed to shatter another record, adding one more to a long list of broken records accomplished by the .999 fine silver strikes over the last three years.

The US Mint recorded a total of 3,240,000 Silver Eagles pulled from its inventory by authorized purchasers in February 2011. This was more than enough to make last month the best February ever for the coins.

In fact, the number sold in February handily surpassed the previous record set in February 2009 by an astonishing 1,115,000, or by 52.4%.

Such increases are becoming almost routine of late. In January 2011, Silver Eagle bullion coins soared to a new all-time monthly record of 6,422,000, the most coin ever sold by the US Mint in a single month. That itself was a jump of over 50% from where the previous record sat.

In looking at top Silver Eagle sales months, February 2011 ranks as number 7 overall. A broader look at the record holders show that eight of the top ten best months ever were set either last year or this year, as depicted in the table below:

Top Ten Silver Eagle Monthly Sales

 

While silver prices retreated in January and were lower for much of the year, they have since soared with several bouts of 31-year highs, as in Tuesday’s closing price in New York at $34.43 an ounce. Silver has now risen more than 11% in 2011. The volatility has helped Silver Eagle sales.

2010 was the best year ever for the bullion coins with sales at 34.6 million. Silver prices soared nearly 85% during the year.