2013 Silver Eagles Sold Out & Asian Silver Industrial Demand Strong

2013 US Silver Eagles are sold out for now, as reported in US Mint Temporarily Sold Out of 2013 Silver Eagles by Coinupdate.

The United States Mint has informed authorized purchasers that 2013 American Silver Eagle bullion coins are temporarily sold out. This follows intense demand for the silver bullion coins since the initial release on January 7, 2013.

The US Mint expects the temporary sell out of the 2013-dated coins to last until on or about the week of January 28, 2013. At that point, sales will be resumed under an allocation process. During previous periods of strong demand for gold and silver bullion coins, the Mint has used an allocation process to ration available supplies amongst their primary distributors.

It has happened more frequently in the past that the Mint was out of stock, but not in 2011 and 2012. We reported earlier about the strong start of 2013 for gold and silver.

The US Silver Eagles sales figures for 2013 are really staggering. The latest figure reported by the US Mint on their website, is 6,007,000 for the month of January 2013. To put this figure in perspective, one needs to compare it with the previous years. Mind that those figures include a whole month sales, while 2013 is even not half way. More detailed sales figures are to be found in the article we recently published “Gold & Silver Eagles Top Performers in November 2012.”

  • Jan 2008: 2,170,000
  • Jan 2009: 1,900,000
  • Jan 2010: 3,592,500
  • Jan 2011: 6,422,000
  • Jan 2012: 6,107,000

Another interesting insight from Coinupdate:

I was hoping to give you a recommendation for where to get silver eagles still, but all of my preferred dealers are sold out too. They are currently selling on Ebay for $5 over spot price! If this is a sign of things to come, higher prices are likely on the horizon for precious metals.

Meantime, out of Indian, The Economic Times reported that the Asian industrial silver demand remains firm. Prithviraj Kothari, managing director from Riddisiddhi Bullion, says: “We are bullish on silver rather than gold and expect it to touch Rs 62,000 a kg in the coming months. The electronics sector is expected to be the mainstay of industrial demand over the next two years with Asia as a potential growth centre.”

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