Barclays: January second-strongest month ever for Mint silver-coin sales

U.S. Mint coin sales have been strong since the start of the year, with January already the second-biggest month ever for silver-coin sales with half of the month still to go, said Barclays Capital in a research note.

According to Barclays, retail interest in both Gold and Silver coins in the U.S. has kicked off the year with tremendous strength. Gold-coin sales of 85,500 ounces already surpassed sales for all of December that totaled 65,500.

Meanwhile, silver-coin sales of 4,597,000 ounces have already exceeded the totals for November and December combined.

“Silver sales in January have already (are) the second strongest month on record, and are only behind the sales for January 2011. The strength of silver-coin sales in the U.S. has indeed offset the global net redemptions across the physically backed Silver ETPs (exchange-traded products) for the month to date at 77 (metric) tons,” Barclays added.

The silver-coin sales so far amount to 143 tons, behind only 199.7 tons in January 2011. – CommodityOnline

Tags: Proof Silver Eagle coins, Silver, silver coins, US Mint

Posted by Silver Guru on Jan 13 2012. Filed under Silver prices. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry