The United States Mint registered sales of 4,782,000 American Silver Eagle coins this month, the most ever for a February. While sales were down 20% from the 5,9 million sold in January, they were still 58% higher than the 3.0 million sold a year earlier.
More could have sold but the U.S. Mint has rationed their distribution because of silver planchet shortages.
Last year’s 2015-dated American Silver Eagle went on to notch an annual sales record of 47 million, with their sales through February 2015 reaching 8,552,000 coins. This year’s starting two-month total of 10,736,500 coins is running 26% faster, suggesting that 2016 is likely to be another record year for Silver Eagle sales.
It wasn’t just silver coin sales that were significantly higher this year. Sales of one ounce American Gold Eagles in February 2016 reached 83,500 ounces, sliding 32.7% from the January total of 124,000 ounces but surging 351.4% from the 18,500 ounces moved in February of last year.
For the year so far, sales total 207,500 ounces for a 108.5% increase from the 99,500 ounces sold during the first two months of last year. Investors are on track to purchase twice as many American Gold Eagle coins this year at they did in 2015!
Investors are clearly jumping back into the precious metals market as prices appear to have bottomed and are bouncing sharply off multi-year lows to start 2016.
At Gold Stock Bull, we are busy researching ways to profit from these trends. Buying physical bullion while premiums remain reasonable is an obvious start. In addition, we have recently added a stock to our portfolio that will soar as bullion sales make new records. The share price of this company has more than doubled in the past six months. Plus, many of the mining stocks we hold are up double-digits so far in 2016, with our top pick up more than 115%. You can view the GSB portfolio, get the monthly newsletter and our weekly trade alerts by signing up here.