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US Mint Silver Coins Solid in February, Silver Prices Soar
March 2, 2014 by Darrin Lee Unser · Leave a Comment
Reversing a three-month trend, silver realized an increase in February that saw prices rocket to double-digit gains. Along with that, demand for bullion 2014 American Eagle silver coins remained hot even as the United States Mint continued to ration how many they sold.
Only eight months in the history of American Silver Eagles scored stronger sales than February 2014.
February precious metal trading ended on the 28th with silver futures closing at $21.24 an ounce for the May contract. This marks a bullish February gain of $2.12, or 11.1%, with silver prices on the year so far up $1.87, or 9.7%.
The monthly increase comes as a welcome relief to many as silver has spent more time posting negative results than positive. Last year saw eight of the twelve months in the red with the most recent gain in October 2013. That increase was modest at 0.7%. Historical data must be traced back to August when silver soared 19.8% to find any significant monthly increase prior to February.
Other New York precious metals futures had these results:
- Gold for April delivery closed at $1,321.60 an ounce for a February pick up of $81.80, or 6.6%.
- Platinum for April delivery posted a close of $1,446.80 an ounce, resulting in a monthly increase of $71.10 an ounce, or 5.17%.
- Palladium for June delivery came in at $744.45 an ounce for a February gain of $41.25, or 5.87%.
London Fix Silver Prices
Similar precious metal results were observed in London for February as the final London Fix for silver came in at $21.27 an ounce. The math shows this as an increase of $1.96 an ounce over January, or a gain of 10.2%.
Of note, the silver Fix had been drastically higher earlier in the week with the Monday, February 24, London fixing of $22.05. Silver had not traded at that level since October.
For the year-to-date, the London silver Fix is up $1.77, or 9.9%.
Other London precious metal fixings included:
- Gold at $1,326.50 an ounce rose $75.50, or 6% in February.
- Platinum closed February at $1,455 an ounce with an increase of $73.00, or 5.3%.
- Palladium climbed to $746 an ounce showing a monthly gain of $39.00, or 5.5%.
United States Mint Sales of Bullion Silver Coins
The U.S. Mint continued to ration bullion 2014 American Eagle silver coins owing to a continued limited supply of silver blanks. Demand for American Silver Eagles remained strong in February, propelling the month into the top ten for sales of the coins which debuted in November 1986.
Top 10 Monthly Sales of American Silver Eagles
| Rank | Month | Sales |
| 1 | January 2013 | 7,498,000 |
| 2 | January 2011 | 6,422,000 |
| 3 | January 2012 | 6,107,000 |
| 4 | January 2014 | 4,775,000 |
| 5 | September 2011 | 4,460,500 |
| 6 | July 2013 | 4,406,500 |
| 7 | November 2010 | 4,260,000 |
| 8 | April 2013 | 4,087,000 |
| 9 | February 2014 | 3,750,000 |
| 10 | December 1986 | 3,696,000 |
As shown in the chart above, February 2014 comfortably rose into the number nine slot for best ever monthly Silver Eagle sales with a total of 3,750,000.
Sales of America the Beautiful Five Ounce Silver Bullion Coins
2014 America the Beautiful Silver Bullion Coins have yet to be released by the U.S. Mint. As such, there are no sales to be recorded for the series in February. For those tracking such things, last year’s program of coins all sold out in January.
When issued, the 2014 America the Beautiful Silver Bullion Coins will include the following:
- 2014 Great Smoky Mountains National Park 5 Ounce Silver Coins
- 2014 Shenandoah National Park 5 Ounce Silver Coins
- 2014 Arches National Park 5 Ounce Silver Coins
- 2014 Great Sand Dunes National Park 5 Ounce Silver Coins
- 2014 Everglades National Park 5 Ounce Silver Coins
Release dates for the above coins will be published here on SilverCoinsToday.com. As of this writing, the Great Smoky Mountains coin is expected out in late March.
Melt Values of US Silver Coins
With increases realized in the silver market, associated silver coin melt values also received a bump up in February.
These monthly advances in melt values are shown in the chart below which offers a list of commonly available silver coins and their associated melt values at the end of January compared to the values at the end of February.
| US Silver Coins | Silver Coin Melt Values (1/31/2014) | Silver Coin Melt Values (2/28/2014) | Net Change in February |
|---|---|---|---|
| 1942-1945 Jefferson Nickels | $1.09 | $1.20 | +$0.11 |
| 1892-1916 Barber Dimes | $1.40 | $1.54 | +$0.14 |
| 1916-1945 Mercury Dimes | $1.40 | $1.54 | +$0.14 |
| 1946-1964 Roosevelt Dimes | $1.40 | $1.54 | +$0.14 |
| 1892-1916 Barber Quarters | $3.49 | $3.85 | +$0.36 |
| 1916-1930 Standing Liberty 25c | $3.49 | $3.85 | +$0.36 |
| 1932-1964 Washington Quarters | $3.49 | $3.85 | +$0.36 |
| 1892-1915 Barber Half Dollars | $6.98 | $7.69 | +$0.71 |
| 1916-1947 Walking Liberty 50c | $6.98 | $7.69 | +$0.71 |
| 1948-1963 Franklin 50c | $6.98 | $7.69 | +$0.71 |
| 1964 Kennedy Half Dollars | $6.98 | $7.69 | +$0.71 |
| 1965-1970 Kennedy Half Dollars | $2.86 | $3.15 | +$0.29 |
| 1878-1921 Morgan Dollars | $14.94 | $16.45 | +$1.51 |
| 1921-1935 Peace Dollars | $14.94 | $16.45 | +$1.51 |
| 1971-1976 Silver Eisenhower $1s | $6.10 | $6.72 | +$0.62 |
| 1986-2013 American Eagles | $19.31 | $21.27 | +$1.96 |
| 2010-2013 ATB Silver Coins | $96.55 | $106.35 | +$9.80 |
Silver coin melt values are based on the London silver fix prices for the dates specified.
