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US Mint Silver Coins Steady in April Sales, Silver Prices Decline
April 30, 2014 by Darrin Lee Unser · Leave a Comment
Silver prices ended in negative territory for a second month in a row, driven for deeper losses on Wednesday. The downward pressure, however, did not dent demand for bullion 2014 American Eagle silver coins as they once again marched to noteworthy levels.
Silver ended lower in April but demand for U.S. Mint silver coins remained steady
Silver for May delivery dropped to $19.174 an ounce, marking a daily loss of 36 cents, or 1.9%, and an April decline of 58 cents, or 2.9%.
Bloomberg News notes that industrial demand for silver is exceptionally high but investors are dismissing this component.
"The industrial driver [for silver] can help, but I don’t think it’s as influential as the investor," said Robin Bhar, head of metals research at Societe Generale SA in London and the most-accurate forecaster tracked by Bloomberg. "Investors were bullish silver because gold was in a bull market. Now that we have gold in a bear market, there’s less enthusiasm coming from investors."
Year-to-date figures are not quite as gloomy with silver prices falling 1%, or a relatively modest 20 cents.
A quick look at other precious metals futures on Wednesday shows:
- Gold at $1,295.90 an ounce gained 0.9% in April
- Palladium rose to $812.50 an ounce, jumping 4.6% for the month
- Platinum at $1,427.90 an ounce registered a slight 0.50% gain in April
London Fix Silver Prices
The silver Fix in London tallied its own declines in April as the white metal ended at $19.28 an ounce. Calculating the monthly drop shows a loss of 69 cents with the percentage change coming in at -3.5%.
Other London precious metals fixings include:
- Gold at $1,288.50 an ounce fell 0.3% in April
- Palladium at $803.00 an ounce rose 3.2% for the month
- Platinum at $1,424.00 an ounce went up 0.4% in April
United States Mint Sales of Bullion Silver Coins
Bullion American Silver Eagles remained hot even as the United States Mint continues to limit how many it sales. For April 2014, the U.S. Mint sold 4,590,500. This ranks the month as the best April ever and also entrenches it as the sixth best all-time since the program began in 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 | March 2014 | 5,354,000 |
| 5 | January 2014 | 4,775,000 |
| 6 | April 2014 | 4,590,500 |
| 7 | September 2011 | 4,460,500 |
| 8 | July 2013 | 4,406,500 |
| 9 | November 2010 | 4,260,000 |
| 10 | April 2013 | 4,087,000 |
As shown in the table, 2014 is turning into a powerhouse for Silver Eagle sales and it could end in another record. Of the top ten Silver Eagle sales months, three are from this year. This includes January, March and April with only February missing out on the action. Still, February’s contribution cannot be underestimated as it currently holds the 11th spot.
Year-to-date, bullion American Silver Eagles have recorded sales of 18,469,500. Were the year to end at the same level, 2014 would go down as the seventh best ever for the program. And, keep in mind, there are still eight more months left in 2014.
Sales of America the Beautiful Five Ounce Silver Bullion Coins
Sales of 2014 America the Beautiful Five Ounce Silver Bullion Coins have now reached 23,000 for the year. These are Great Smoky Mountains National Park Five Ounce Silver Bullion Coins as other five ounce issues have not been released. Four more coins are scheduled to appear this year and include the:
- 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
Melt Values of US Silver Coins
Along with silver, many seek a monthly comparison of the melt values of commonly purchased US silver coins. The chart below offers that comparison based on the amount of silver contained in each coin and what its melt value was at the end of March versus its melt value at the end of April. (See also the melt calculator available here on SilverCoinsToday.com.)
| US Silver Coins | Silver Coin Melt Values (3/31/2014) | Silver Coin Melt Values (4/30/2014) | Net Change |
|---|---|---|---|
| 1942-1945 Jefferson Silver Nickels | $1.11 | $1.08 | -$0.03 |
| 1892-1916 Barber Silver Dimes | $1.43 | $1.39 | -$0.04 |
| 1916-1945 Mercury Silver Dimes | $1.43 | $1.39 | -$0.04 |
| 1946-1964 Roosevelt Silver Dimes | $1.43 | $1.39 | -$0.04 |
| 1892-1916 Barber Silver Quarters | $3.58 | $3.49 | -$0.09 |
| 1916-1930 Standing Silver Liberty 25c | $3.58 | $3.49 | -$0.09 |
| 1932-1964 Washington Silver Quarters | $3.58 | $3.49 | -$0.09 |
| 1892-1915 Barber Silver Halves | $7.15 | $6.97 | -$0.18 |
| 1916-1947 Walking Liberty 50c | $7.15 | $6.97 | -$0.18 |
| 1948-1963 Franklin 50c | $7.15 | $6.97 | -$0.18 |
| 1964 Kennedy Half Dollars | $7.15 | $6.97 | -$0.18 |
| 1965-1970 Kennedy Half Dollars | $2.92 | $2.85 | -$0.07 |
| 1878-1921 Morgan Silver Dollars | $15.29 | $14.91 | -$0.38 |
| 1921-1935 Peace Silver Dollars | $15.29 | $14.91 | -$0.38 |
| 1971-1976 Silver Eisenhower $1s | $6.25 | $6.09 | -$0.16 |
| 1986-2013 American Eagles | $19.77 | $19.28 | -$0.49 |
| 2010-2014 ATB Silver Coins | $98.85 | $96.40 | -$2.45 |
Silver coin melt values are based on the London silver fix prices at the end of December 2013 and the end of April 2014.
