US silver investment demand lowest since 2010
- Published: Nov 21, 2017, 6 AM
By the end of 2017, the United States could witness silver coin and bar demand falling by approximately 33 percent, to 60 million ounces, compared with an annual average from 2010 to 2016 of 108 million ounces, according to the independent precious metals consultancy Metals Focus.
According to the U.S. Mint’s posted sales figures online, through Nov. 15, the Mint recorded sales of 17,203,500 American Eagle silver bullion coins. For all of 2016, sales reached 37,701,500 coins. The U.S. Mint registered record sales in 2015 of 47 million coins, on the heels of a stellar 2014 sales year when 44,006,000 American Eagle silver bullion coins were sold.
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Metals Focus notes that the weakness in silver demand in the U.S. market has not been limited to the American Eagle silver bullion coin.
“Our proprietary quarterly silver bullion coin survey reveals that sales in the U.S. of the world’s leading bullion coins, including the Eagle, over the first nine months have fallen by 43 percent year on year,” according to Metals Focus.
“Furthermore, ... the overall U.S. retail market has remained poor, reflected in a more than halving of gold coin sales over the first nine months.”
For more information, visit Metals Focus online or contact Metals Focus director Charles de Meester via email at firstname.lastname@example.org.
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