Silver Eagles Contribute Heavily to Worldwide Demand
- Published: Nov 23, 2015, 10 AM
Silver coin demand during calendar 2015 is projected to increase 21 percent over 2014 demand, to 129.9 million troy ounces, according to the Interim Silver Market Review issued Nov. 17 by Thomson Reuters.
According to the report, demand for silver coins is forecast to reflect 12 percent of overall physical demand for the precious metal, an increase of 2 percent over 2014 levels.
The precipitous drop in silver prices during July and August to six-year lows fueled silver coin buying, particularly in North America where coin sales jumped 103 percent to 23.6 million troy ounces during the calendar year 2015 third quarter.
Total silver supply, according to the report, is projected to slip to 1,014.4 million troy ounces in 2015, down 3 percent from 2014, according to the report.
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